edgeX risk score
Short answer: Perpd scores edgeX 72/100 (Some known risks) as of 14 Nov 2026, ranking 4 of 10 (tied). Its weakest factor is exit risk (4/10): Trading moved to edgeX V2 on EDGE Chain in May 2026, and V2's forced-withdrawal mechanism isn't published, so we can't verify an exit path. Its strongest is volume quality (10/10).
| Factor | Weight | Score | Why |
|---|---|---|---|
| Exit risk | 20% | 4/10 | Trading moved to edgeX V2 on EDGE Chain in May 2026, and V2's forced-withdrawal mechanism isn't published, so we can't verify an exit path. |
| Security record | 15% | 9/10 | Audits by RigSec, SlowMist and PeckShield were reported (dates not found). |
| Liquidation & ADL | 15% | 8/10 | The eLP vault provides a backstop. |
| Execution check | 15% | Not scored yet: needs 7 daily order-book snapshots. Preview in Perp DEX fees compared: what a $100K trade really costs. | |
| Volume quality | 10% | 10/10 | 24h volume/OI is about 3.2 and no allegations were found, so the rubric gives 10. |
| Access & legal | 10% | 7/10 | Names edgeX Trading Inc. |
| Token, unlocks & team | 10% | 7/10 | EDGE has 25% core contributors on a 24-month lock, so no big unlock is near, but the team is not individually named (-3) and published allocations conflict. |
| Cost | 5% | 7/10 | Non-VIP fees are 0.012% maker / 0.038% taker, with hourly funding. |
Weighted over the 7 scored factors: 72/100. Method: How Perpd scores perp DEXs.
Exit risk: 4/10
Trading moved to edgeX V2 on EDGE Chain in May 2026, and V2's forced-withdrawal mechanism isn't published, so we can't verify an exit path. The old V1 (StarkEx) contract was frozen in Aug 2026 after a forced withdrawal went unprocessed; V1 funds exit through its escape hatch.
- 26 May 2026: edgeX v2 went live, moving all trading from the StarkEx-based v1 to EDGE Chain. (source, accessed 2026-11-14)
- 14 Aug 2026: edgeX v1 stopped operating. Its StarkPerpetual contract was frozen 'following an unprocessed forced withdrawal on L1'. ETHBEAT describes the v1 shutdown as a planned sunset. (source, accessed 2026-11-14)
- V1 escape hatch: users can exit by submitting a Merkle proof of funds; positions close at the average price from the last batch state update. (source, accessed 2026-11-14)
- V1 upgradability: the main contract could be upgraded by a 3/5 multisig with no delay, and one critical contract by a single key (EOA). (source, accessed 2026-11-14)
- edgeX V2 launched on 2 Jun 2026, 'built on EDGE Chain', as 'a full architecture overhaul' (isolated margin and TWAP added). (source, 2026-06-02)
- V2 Self-Custody: users 'deposit their funds directly into these audited smart contracts'. Final balance state is 'anchored to Ethereum's consensus', and batches are 'submitted to the Rollup smart contracts'. 'Trustless Withdrawals': users 'interact directly with the underlying smart contracts to retrieve their assets', 'completely bypassing the operator' during downtime. The page gives no mechanism, delay, chain or contract name, DA model or upgrade keys. (source, accessed 2026-11-14)
- V2 Technical Architecture: a 'modular Rollup trading protocol' with states 'anchored back to Ethereum'. It uses 'established reliable bridging solutions' from the Arbitrum stack that edgeX 'temporarily uses'. Proof system, data availability and escape hatch are not described. V1 was a StarkEx-based validium. (source, accessed 2026-11-14)
- The live V2 API lists USDC-quoted contracts (BTCUSDC 30000001, etc.), replacing V1's USDT contracts (BTCUSDT 10000001). The status of funds left on V1/StarkEx was not found. (source, accessed 2026-11-14)
Security record: 9/10
Audits by RigSec, SlowMist and PeckShield were reported (dates not found). No code exploit found. Bounty size not found (-1).
- Smart contracts and the L2 settlement framework were reportedly audited by RigSec, SlowMist and PeckShield. Audit dates: not found. (source, not stated)
- Bug bounty: not found. (A $200K bounty was offered for forensic evidence on the June 2026 EDGE sell-off. That is not a security bounty.) (source, 2026-06-04)
- Launch date: not found (V1 live before 2025; revenue reported through Q4 2025). (source, 2026-01)
Liquidation & ADL: 8/10
The eLP vault provides a backstop. One major liquidation cascade in the last 12 months: the EDGE token flash crash on 2 Jun 2026 (-2). edgeX said it found no manipulation; ZachXBT publicly disputed that.
- 2 Jun 2026: EDGE fell 71%, from above $1.40 to $0.40. edgeX offered refunds of up to 100,000 USDC per user (half USDC within 7 days, half in EDGE) and a 200,000 USDC bounty. (source, 2026-06-03)
- edgeX's report blamed 174 addresses selling into a thin PancakeSwap pool that fed oracle prices, and found no manipulation; ZachXBT disputed this. (source, 2026-06-04)
- Backstop: the eLP vault (passive market-making). Insurance fund size: not disclosed. (source, 2026-01)
Volume quality: 10/10
24h volume/OI is about 3.2 and no allegations were found, so the rubric gives 10. But 30d volume is about 330x TVL, which is flagged.
- 24h perp volume $441.51m; 30d $19.83b; OI $137.38m; TVL $59.84m (29 Oct 2026). Ratio 24h/OI is about 3.2 (30d/OI about 144). 30d volume/TVL is about 331x. (source, accessed 2026-11-09)
- TVL was about $437.8M-$500M+ in Nov 2025 per The Block research, so TVL has fallen sharply since. (source, 2026-01)
- V2 launched with a 'Trade to Own' season (points-style incentive). Wash-trading allegations: not found. (source, not read)
Access & legal: 7/10
Names edgeX Trading Inc. and bars US/Canada, but the ToS has no date and reads like boilerplate copied from another protocol (unclear, -3).
- Party: edgeX Trading Inc. (incorporation jurisdiction not stated). California law, JAMS arbitration in San Francisco. (source, no last-updated date shown)
- Restricted: US and Canada ('WE DO NOT MAKE EXCEPTIONS'), plus Iran, Cuba, NK, Syria, Myanmar, Crimea, Donetsk, Luhansk. UK, India and EU are not listed as restricted. (source, accessed 2026-11-09)
- ToS references the '0x API', a 'StarkEx Service' and Canadian users 'as of April 7, 2023', which suggests templated text not updated for edgeX V2. (source, accessed 2026-11-09)
- KYC: no KYC section. Regulator actions: not found. (source, accessed 2026-11-09)
Token, unlocks & team: 7/10
EDGE has 25% core contributors on a 24-month lock, so no big unlock is near, but the team is not individually named (-3) and published allocations conflict.
- EDGE, 1B supply. Allocation per KuCoin (Apr 2026): early users 30% (25% genesis + 5% pre-TGE), future reserve 30%, core contributors 25%, liquidity / ecosystem & community / foundation 5% each. (source, 2026-04-01)
- Conflicting allocation per The Block research (Jan 2026): 35% ecosystem & community, 25% core contributors, 25% genesis, 10% foundation, up to 5% pre-TGE. TGE was expected on or before 31 Mar 2026. (source, 2026-01)
- Core contributors: 24-month lock after TGE, then 24 months linear. With TGE around 31 Mar 2026 (headline: 'edgeX to launch token on March 31'), the first unlock is about Mar 2028. No big unlock in the next 3 months. (source, 2026-03)
- Team: incubated by Amber Group (Hong Kong). The team is described as ex-Morgan Stanley, Barclays, Goldman and Bybit, but no individual founders are named in the sources. (source, 2026-01)
Cost: 7/10
Non-VIP fees are 0.012% maker / 0.038% taker, with hourly funding.
- Non-VIP: 0.012% maker / 0.038% taker. VIP tiers start at $5M volume; top tier VIP6 ($2B+) is 0% maker / 0.024% taker. Funding is charged hourly between longs and shorts. (source, not stated)
- Standard tier 0.012% / 0.038% confirmed by The Block research. (source, 2026-01)
Compare
FAQ
Is edgeX safe?
No perp DEX is risk-free. Perpd scores edgeX 72/100 (Some known risks). Its main flag is exit risk (4/10).
How is edgeX's score calculated?
Seven factors scored 0-10 from public sources (exit, security, liquidation, volume, access, token, cost), weighted and scaled to 100. The execution check joins once we have 7 daily snapshots.
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