Messari Report: Decibel is building a powerful and highly transparent decentralized exchange platform (DEX)

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Derivatives Data Project Progress Partnerships & Ecosystem

2026-02-20 04:01:17

BlockBeats News, February 20 — According to the latest specialized report from Messari, Decibel, an on-chain perpetual contract protocol built on the Aptos blockchain, is developing a high-performance, more transparent decentralized trading platform.

The report states that Decibel’s core features include on-chain execution of trade matching, risk management, and settlement, utilizing a unified margin system that allows users to support multiple market positions with a single collateral asset, thereby improving capital efficiency. Technologically, Decibel leverages Aptos’s Block-STM parallel execution engine and a low, predictable fee structure to provide high throughput and low latency infrastructure support for derivatives trading.

In terms of liquidity design, Decibel has launched an officially managed DLP as the core liquidity provider and clearing support, enabling participants to share in clearing fees and market-making profits. The report also mentions the introduction of the native collateral asset USDCBL: users deposit USDC, which is converted into USDCBL, and the protocol uses reserve asset earnings to support operations and fee structures.

Regarding progress, the mainnet beta is about to launch, initially supporting 12 trading pairs, with plans to quickly expand to approximately 50 mainstream trading pairs. In Q1 2026, multi-asset collateral functionality will be introduced, including support for DLP LP tokens as collateral, and expansion into stocks, commodities, and ETF-based RWA perpetual contracts. In Q2, spot trading and integration of Aptos DeFi yield will be launched, with token issuance and institutional-level integration expected within 2026.

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