The Perpetual Exchange for Every Asset, Every Wallet, Every Market
"Your market exists. If not, create it."
PRE-SEED | $1M RAISE | Q2 2026 | BUILT ON ALGORAND
01 — The Problem
The World's Financial Infrastructure Excludes More People Than It Serves
4B+
People globally remain "unbrokered"
$30T+
Monthly CFD volume — opaque, broker-controlled
60%
CFD site traffic from Asia-Pacific
01
4 Billion People Remain "Unbrokered"
Over 6B have internet access, yet fewer than 2B have a brokerage account. Developing regions in APAC, LATAM, Africa, and MENA have massive unmet demand. A Brazilian coffee farmer cannot hedge at 2am. A Turkish gold dealer cannot trade weekends. A Ukrainian wheat trader cannot access global markets during war.
Source: Syncracy Capital, March 2026
02
CFD Brokers Are Structurally Broken
CFDs are OTC with bilateral credit exposure. Pricing is opaque, spreads are broker-discretion, risk controls adjusted unilaterally. Every position is an isolated agreement where the broker dictates terms. $30T+ monthly volumes in 2025, ~60% traffic from APAC — massive demand, bad product.
Source: Syncracy; Finance Magnates
03
Crypto Traders Are Fragmented
A trader wanting to long Gold, short BTC, and hedge with a Fed rate event contract must use 3 separate platforms (CME, Binance, Polymarket) with 3 separate margin accounts. Capital efficiency is destroyed by fragmentation.
Source: Syncracy Capital; CoinGecko 2025
02 — Why Now
Perpetual Swaps Are Absorbing Every Other Derivative — And It's Just Getting Started
The Great Perpification — perpetual swaps are absorbing volume from the $8T+ daily derivatives market (options, futures, CFDs). Syncracy Capital coined the term as perps take share from every other derivative.
432%
Perp DEX sector growth (2024→2025) YoY
2.7%→26%
DEX share of perp volume (2023→late 2025)
~$1.2B
Hyperliquid annualized revenue (12 employees)
$1.43B
HIP-3 RWA open interest (100x in 6 months)
Daily Notional Volume — Global Derivatives
US Listed Options$4.0T
Global Top 150 Futures$3.75T
Global CFD$1.0T
Est. Retail Options$1.0T
Perps on CEXs$240B
Perp DEXs~$20B
Why Perps Beat Every Alternative
→ No expiry dates or rollovers (vs. futures/options)
→ Transparent on-chain order books (vs. opaque CFD brokers)
→ 24/7 trading with self-custody
→ Unified cross-asset margin
Hyperliquid: $1.7B crude oil traded when CME was closed on a weekend during the Iran conflict
A Perpetual Futures Exchange for RWA and Crypto Assets — Open to Every Wallet, Every Chain
Fluxion Markets is a perpetual futures exchange built on Algorand with a 60-validator decentralized matching engine. The platform runs entirely on $ALGO — no proprietary exchange token.
CORE VALUE PROPOSITION
No matter who you are or where your assets are — there's a fast, perpetual, secure, liquid market for you. If not, spin one up in minutes.
01
ZERO-COLLATERAL WHITE-LABEL
WHAT IT MEANS
Anyone can launch a perpetual market without staking 500,000 HYPE (~$17M). Fee-share model instead.
WHY IT MATTERS
Removes #1 barrier to market creation. Enables a swarm of frontends competing for taker flow.
02
UNIVERSAL WALLET ACCESS
WHAT IT MEANS
NEAR Intents enables any wallet on any chain to deposit without bridging.
WHY IT MATTERS
No wallet friction = largest possible TAM. A MetaMask user on Ethereum trades on Algorand without knowing it.
2 bps. No Token. Revenue-Funded Incentives That Scale With Volume.
DEX fee: 2 bps blended (3 bps taker / 1 bps maker). Expected compression to ~1.5 bps by Month 15. Fees collected in USDC; settlement on Algorand; validator/staking economics in $ALGO.
Volume Model — Bottoms-Up by Source
Source
M3
M6
M12
M18
Retail (direct)
$2M
$15M
$120M
$280M
White-Label Partners
—
$10M
$80M
$250M
HFT / Prop Strategies
$5M
$20M
$110M
$420M
AI Agents
—
$5M
$40M
$50M
Total
~$8M*
$50M
$350M
$1B
*M3 includes ~$1M early organic/test volume not attributed to a single source
Revenue Projections (2 bps blended)
Daily Volume
Gross/Day
Net Team (40%)
Annual Team Rev
$50M (M6)
$10,000
$4,000
$1.46M
$150M (M9)
$30,000
$12,000
$4.38M
$350M (M12)
$70,000
$28,000
$10.2M
$1B (M18)
$200,000
$80,000
$29.2M
Revenue Distribution
Team/Ops/Growth40%
Validator Pool10%
Trader Incentives10%
Strategic Partners10%
Liquidity Pool10%
Insurance Fund9%
LP Rewards5%
Ecosystem Fund5%
Bug Bounty1%
The No-Token Advantage
→ No airdrop = no mercenary volume
→ $ALGO as native token = ecosystem alignment
→ No proprietary token = simpler compliance
→ Rev-funded incentives: $500M/day = $15K/day ($5.5M/yr) in organic rewards
Breakeven: ~$205M/day volume (~M8–M9) at $6M total spend
07 — Competitive Landscape
We Don't Need to Beat Hyperliquid.
We need to capture 4–7% of a rapidly expanding market.
Platform
Daily Vol
Share
Key Advantage
Key Limitation
Hyperliquid
$7–15B
38–55%
Custom L1, deepest liquidity, HIP-3/4
500K HYPE ($17M+) to launch; 27 validators
Aster DEX
$1–5B
15–22%
Multi-chain, aggressive incentives
Token-dependent growth
Lighter
$1–3B
10–25%
Institutional focus, advanced OB
Early-stage ecosystem
edgeX
$0.5–2B
5–14%
Mobile-first, Validium
Limited asset coverage
dYdX
$1–3B
5–10%
Cosmos appchain, open-source
Declining share
Fluxion (M18)
$1B
4–7%
Zero-collat. WL, RWA-first, no token
Cold-start; unproven
Not a Hyperliquid Clone
Hyperliquid proved the thesis. Fluxion extends it to markets and users Hyperliquid can't or won't serve:
Gap in Market
Fluxion's Answer
Partners won't stake $17M+
Zero-collateral white-label
Regulated entities can't hold HYPE
USDC only, no proprietary token
Regional asset demand
WL partners curate from shared pool
Compliance needs vary by region
Each frontend chooses own KYC
IF HYPERLIQUID LOWERS THE BARRIER?
We assume they will. Fluxion's moat is structural: regulated partners cannot hold a protocol token as a business dependency. Fee-share economics and regional asset curation are product features, not pricing gimmicks.
Hyperliquid Economics (Benchmark)
Metric
Hyperliquid
Implication
Annual revenue
~$1.2B
Even 5% = $60M/yr
Net margin
~99%
Near-zero marginal cost
Rev / employee
$83M
Highly capital efficient
Employees
12
Lean team, high leverage
Key Positioning
Hyperliquid
Fluxion Edge
500K HYPE staking (~$17M)
Zero-collateral white-label launch
Single-chain focus
Universal wallet access (any chain)
Crypto-first audience
Regional asset coverage (RWA focus)
Builder-driven markets
Partner-orchestrated liquidity (80:20 split)
Proprietary token (HYPE)
No token — USDC only, simpler compliance
Sources: DefiLlama, CoinGecko, perpetualpulse.xyz, Syncracy Capital
08 — Go-to-Market
White-Label Partners Are Our Distribution Moat
THE FLYWHEEL: Partners launch niche markets → shared liquidity with core pairs → more assets = more users = better spreads → attracts more partners.
2 months backend dev · 3 LPs in active talks · Algorand Foundation $500K committed · CometBFT fork in progress · Matching engine prototype on local testnet
Key GTM Milestones
M0–M3: 7 pairs, anchor MM, 8 launch markets (CN, TR, IN, KR, MY, VN, LATAM, NG)
M13–M18: 7+ partners, US ECP institutional, 100+ assets
$ALGO INCENTIVE BRIDGE: $800K / 18 MONTHS
Replaces token airdrop. At $500M/day, protocol self-funds $15K/day ($5.5M/yr) in trader + LP rewards — no token needed.
09 — Team
Builders Who've Scaled Web3 Before
The Team Behind Meta Pool and Marinade
CLAUDIO COSSIO
CO-FOUNDER & CEO
Co-founder, Meta Pool (multi-chain liquid staking: NEAR, Ethereum, ICP, Solana & Story). Founding member, Nativo Ventures. Co-chair, Crypto Valley Association — LATAM.
LUCIO TATO
CO-FOUNDER & CTO
Co-founder, Meta Pool. Co-founder, Marinade.Finance (first liquid staking solution for Solana). 30+ years software development. 5+ years shipping in crypto across multiple protocols.
SHASHI SHEKHAR
CO-FOUNDER & STRATEGIC ADVISOR
2X founder. Ex-Head of Global Adoption, DFINITY (ICP). Former Strategy Director, NEAR. Built multi-country ecosystem networks, dev education, accelerators, GTM playbooks. Building NOTALONE Ventures.
Why This Team Wins
→ Liquid staking expertise — Meta Pool & Marinade = production DeFi
→ Multi-chain DNA — built across NEAR, Ethereum, Solana, ICP, Story, Algorand
→ Ecosystem building — LATAM, Asia, MENA markets already worked in
Meta Pool · Marinade.Finance · DFINITY · NEAR · Crypto Valley · Nativo Ventures
10 — The Ask
$1M to Build, Launch, and Reach $50M/Day — Then Revenue Funds Everything
Round Terms
Raising
$1,000,000
Instrument
SAFE ($20M cap, 20% disc.)
Implied dilution
~4.8% at cap
Timeline
Close Q2 2026, launch Q3
Anchor
$500K — Algorand Foundation
Remaining
$500K for angels + funds
Use of Funds ($1M)
Core Engineering$400K (40%)
Liquidity Bootstrap$200K (20%)
Go-to-Market$150K (15%)
Legal & Compliance$100K (10%)
Ops & Contingency$150K (15%)
Milestones This $1M Unlocks
✓ Matching engine on Algorand testnet
✓ Anchor market maker onboarded
✓ 7 core pairs live on mainnet
✓ First $8M/day volume (M3)
✓ First WL partner in pipeline (M3)
✓ Seed readiness at $50M/day (M6)
WHY ALGORAND FOUNDATION ANCHOR MATTERS: Algorand pivoting to capital markets chain. At target volume, Fluxion = largest Algorand app by TX count.
The Complete Fundraising Plan — Two Raises, Then Revenue
PRE-SEED
$1M
SAFE $20M cap, 20% disc.
Build, launch, $8M/day
$500K COMMITTED
SEED
$5M
$50M pre-money
Full GTM, scale to $1B/day
Planned Q3 2026
REVENUE
∞
Self-funded forever
Breakeven ~M8–M9
NO MORE RAISES
11 — The Endgame
Perpetuals Are a Trojan Horse for the Financial Platform of the Future
Perpetuals are the hardest use case to build on blockchains. By nailing it, every other financial primitive — spot trading, lending, prediction markets, options, stablecoins — becomes easier to bolt on.
Open financial protocol. Third-party teams build on top, funded by revenue from their own businesses. Ecosystem self-sustains.
THE ANALOGY: Hyperliquid proved that a perpetual DEX can generate $1B+ in annual revenue with 12 employees and 99% margins. Fluxion Markets' bet is that the white-label model — allowing anyone to launch a market with zero collateral — creates the same platform network effect, distributed across dozens of frontends serving millions of unbrokered users worldwide.
THE ENDGAME: Every dollar works across every instrument. A shipping company's Oil-PERP margin doubles as Strait of Hormuz insurance. A coffee farmer hedges while earning yield on staked collateral. An AI agent arbitrages 100+ pairs 24/7.
