LayerZero Unveils ATLAS Crypto Exchange for Institutional Clients

LayerZero, an omnichain protocol, is gearing up to launch ATLAS, a cryptocurrency exchange specifically designed for institutional clients. The platform will offer spot trading and perpetual futures initially, with plans to integrate prediction markets, traditional futures, and options later on.

The LayerZero team has stated that the exchange will not have its own user interface or application, instead relying on intermediaries to connect to ATLAS and manage products and distribution independently. This 'headless' architecture aims to provide a unified technology stack for matching, clearing, settlement, and risk management.

Notable partners exploring the network's use include Citadel Securities, DTCC, and Intercontinental Exchange (owner of the New York Stock Exchange). The team has also announced that liquidity on ATLAS will be provided by 'some of the largest market makers' from day one. Initially, the platform will offer two configurations: Open for crypto applications and prediction platforms, and Institutional for institutional clients with 24/7 access and flexible participation terms.

The exchange will be built on Zero, a layer-one blockchain, which claims to have a throughput of 2 million transactions per second. ATLAS is expected to charge a unified transaction fee, with platforms connected to Open ATLAS receiving a rebate of 20% to 65%, depending on trading volume and/or staked ZRO.