I just noticed that Decibel — a fully on-chain perpetual trading platform incubated by Aptos Labs — has officially launched on the mainnet. Interestingly, the numbers from the previous testnet were quite impressive, indicating a real market demand for this type of product.

Looking at the testnet data, Decibel attracted over 700,000 unique accounts and 132,000 daily active users. The average daily trading volume exceeded 1 million transactions — a sign of high engagement before the official launch. In fact, the pre-launch deposit campaign raised over $58 million in committed funds, with about 40% coming from Ethereum and Solana users.

One notable point is that Decibel uses a centralized order book model but executes all processes on-chain — from order placement, matching, payments, to risk management. The collateral asset is USDCBL, a USD stablecoin issued via Stripe’s Bridge. Next, Decibel plans to expand with spot trading, multi-asset collateral accounts, and tokenized real-world assets.

Overall, the launch of Decibel on Aptos seems to be a significant step forward for this ecosystem. If you're interested in new exchanges with on-chain technology, you can follow Decibel on Gate or other platforms for updates.