Performances
RD Popularity Index
RD Growth Index
Comparison
Fundraising
Follow Updates
Follow Lists
People
About 01 Exchange
01 Exchange is a decentralized perpetual futures protocol built on the N1 chain, using the NordVM engine to deliver an order-book-based trading experience. Its core business covers perpetual contracts, power perpetuals, structured products, and cross-chain USDC deposits, allowing users to trade derivatives directly from their wallets without custody.
Its core competitiveness lies in combining a central-limit-order-book (CLOB) model with high-performance execution, avoiding the slippage issues common in AMM-based platforms. The protocol also supports cross-margin and multi-asset collateral, improving capital efficiency. The narrative centers on bringing CEX-like speed and depth to DeFi while maintaining self-custody and on-chain transparency.
The market pain point it addresses is the trade-off between centralized exchanges (which offer good liquidity but require trust) and decentralized platforms (which are transparent but often slow and shallow). 01 Exchange attempts to bridge this gap by providing a non-custodial, order-book-based venue with fast settlement.
In the past six months (2026-03-01 to 2026-09-01), 01 Exchange was acquired by N1, integrating its trading stack and migrating points to the N1 platform. A 2.0 upgrade was announced. The protocol also introduced gasless deposits (with a flat $0.30 USDC fee), improved deposit recovery flows, fixed chart timeframe persistence, and optimized portfolio loaders and RPC infrastructure. No major negative events were reported during this period, though the platform remains relatively young with thinner liquidity compared to incumbents.
01 Exchange, a decentralized derivatives protocol, was initially built on Solana and completed a $2.2 million seed round led by Multicoin Capital and Alameda Research in January 2022, with plans to launch perpetual contracts and a limited-order-book product. Later, it was acquired by N1 Chain (formerly Layer N), a project backed by Founders Fund. After the acquisition, 01 Exchange launched retroactive points claiming for users who traded during its testing phase, with bonus points distributed daily over two weeks. The acquisition integrated 01's trading stack into N1's ecosystem, and the team joined N1 to support its 2.0 upgrade.
01 Exchange (01) has undergone significant strategic shifts in the past six months. In July 2026, it was fully acquired by N1 Chain, a project backed by Founders Fund. Following the acquisition, 01 was sunset as a standalone destination, with all trading activity consolidated onto the N1 platform (app.n1.xyz). No asset migration was required, and user funds remained unaffected. All points earned on 01 were recognized and made visible on the N1 app, with the first season of N1 points launched and referral rewards permanently increased to 10%.
In May 2026, 01 introduced Atomics, a core primitive allowing traders to bundle up to 10 actions (place/cancel orders) into a single atomic transaction, with sequential execution and risk checks. This innovation aimed to improve execution efficiency, reduce drift in pair trades, and enable more complex strategies like basket entries and multi-market hedges.
Looking ahead, the official roadmap focuses on N1 2.0 (internally codenamed "Nord Nova"), a major network upgrade designed to deliver deeper liquidity, more markets (including RFQ, vaults, and equities), and additional on-chain financial products. Native iOS and Android apps are in internal testing and slated for imminent release. The broader vision is to build a full-stack financial platform where infrastructure, product, and user experience are unified, moving beyond simple orderbook execution toward a comprehensive trading ecosystem.
01 Exchange (01 Protocol) is a decentralized derivatives platform on Solana. Its co-founders include:
- Ryu: Co-founder, focused on orderbook design and cross-margining.
- Stratos: Co-founder, responsible for communications and product vision.
- David Cao: Co-founder, later founded N1 Chain (formerly Layer N); was a key decision-maker at 01.
- Dima Romanov: Co-founder, built the fully on-chain orderbook on Solana.
- Sheheryar Parvaz: Co-founder, contributed to protocol architecture.
Note: 01 was acquired by N1 Chain, and the team may have been integrated. These are the publicly documented founding members.