Introduction
We have previously covered Paradex here at Nansen, and since then a there has been a few developments, namely the introduction of perpetual options and updated tokenomics that introduce among others, performance-based vesting for the team. In this piece, we delve into the structure and mechanics of Paradex’s perpetual options – including their settlement model, collateralization framework, liquidity considerations, and how they differ from conventional perpetuals – and then analyze the updated DIME tokenomics, particularly the changes to Paradigm’s shareholder unlocks and the team’s performance-based vesting.