# Antarctic Overview # What is Antarctic? Antarctic (AX) is a **decentralized perpetual futures exchange** designed to deliver **institutional-grade execution**, **low fees**, and **strong privacy guarantees**. AX combines **non-custodial settlement** with **transparent, rules-based market operations** to provide a trading venue that is **resilient**, **permissionless**, and aligned with the core principles of **on-chain finance**. To support **consistent execution quality**, AX is built around **deep liquidity** and **efficient price discovery**. The protocol is engineered to **minimize adverse selection** and reduce the **structural disadvantages** often faced by retail traders, while maintaining **clear and auditable market behavior** for all participants. AX aims to offer a **CEX-level user experience** without compromising the flexibility of **decentralized trading**. While the initial focus is **perpetuals**, the platform is designed to **expand its feature set over time**—prioritizing **performance**, **risk controls**, and product capabilities demanded by **active traders**.**alized trading.** While the initial focus is perpetuals, the platform is designed to expand its feature set over time—prioritizing performance, risk controls, and product capabilities demanded by active traders. # Why Antarctic? ### Our Vision The perpetual futures market remains highly concentrated on centralized exchanges (CEXs). While CEXs offer mature execution and product breadth, they also introduce structural trade-offs in **custody**, **privacy**, and **conflicts of interest**. In parallel, decentralized exchanges (DEXs) improve self-custody and transparency, yet often require fragmented tooling and still fall short of the execution quality expected by active traders. Antarctic (AX) is built to narrow this gap: delivering **CEX-grade execution and usability** while maintaining **non-custodial settlement** and **open, non-discretionary access**. ### Limitations of Centralized Exchanges CEXs typically require users to entrust assets to a third party, exposing them to **custodial risk** and platform-level operational failures. In addition, trading activity on CEXs is commonly subject to extensive monitoring, where **user data** may be collected, analyzed, and monetized. This can create incentives that are misaligned with end users, particularly when execution quality and market-making arrangements are opaque. ### Limitations of Today’s DeFi Trading Experience DEX users benefit from self-custody, but the broader DeFi trading stack remains fragmented. Traders may need to coordinate across multiple dApps, bridges, and custom workflows, increasing **operational complexity** and error risk. In many cases, traders also face limitations in **liquidity depth**, advanced order types, and professional-grade tooling—constraints that can reduce strategy effectiveness and widen the performance gap versus CEXs. ### What Antarctic Delivers AX is designed as a venue where users are not positioned as **exit liquidity**, and where market operations are governed by **transparent, rules-based mechanisms**. The platform prioritizes: * **Fair and verifiable execution** supported by deep liquidity and robust price discovery * **Non-custodial settlement** with clear, auditable system behavior * A **CEX-level user experience** without sacrificing decentralization * A framework that enables users to **participate**, **own**, and **grow** with the network over time
# UI/UX AX is **built for traders**. The interface is designed to feel **familiar on day one**, while remaining **scalable for advanced workflows** as trading needs evolve. To accommodate different operating styles, AX provides **two UI modes**: * **CEX Mode**: a streamlined, CEX-style layout optimized for **clarity**, **low-friction execution**, and fast onboarding. * **DEX Mode**: a DeFi-native layout that exposes **deeper controls** and **greater flexibility** for advanced execution and strategy management. Both modes connect to the same **core trading system**, with consistent **matching logic** and **risk controls**. Users can switch interfaces based on preference without compromising **performance**, **execution consistency**, or **protection**.
Antarctic Exchange features powerful TradingView charts to provide the latest cryptocurrency pricing and data. Enhance your analysis with the TradingView platform — access detailed [BTCUSD charts](https://www.tradingview.com/symbols/BTCUSD/), monitor crypto trends, and use robust tools to interpret price dynamics — all in one place. # Fees #### We Offer * **Competitive fees** designed to support frequent execution and scalable strategies—comparable to the most cost-efficient venues across both **DEXs** and **CEXs**. * **No gas fees** for trading actions, enabling predictable costs and a smoother execution flow. * **Minimal slippage** through deep liquidity and efficient price discovery, improving fill quality during both routine and high-velocity market conditions. |


|

14D Trading Volume
(USDT)

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Taker Fee

| Maker Fee | | ----------- | ----------------------------------- | -------------------- | --------- | | VIP 0 | < 2,500,000 | 0.0500% | 0.0200% | | VIP 1 | ≥ 2,500,000 | 0.0450% | 0.0180% | | VIP 2 | ≥ 10,000,000 | 0.0400% | 0.0150% | | VIP 3 | ≥ 50,000,000 | 0.0350% | 0.0100% | | VIP 4 | ≥ 100,000,000 | 0.0300% | 0.0050% | | VIP 5 | ≥ 500,000,000 | 0.0200% | 0.0000% | Note: The cumulative trading volume over the past 14 days is updated daily at 7:00 AM UTC. # Fee Calculation Users are classified into **six tiers (VIP0–VIP5)** based on their **rolling 14-day trading volume**. Each tier corresponds to a specific **maker fee** and **taker fee** as defined in the **Fee Schedule**. ### 14-Day Trading Volume The **14-day trading volume** is the aggregated notional trading volume executed by a user over the most recent **14 days**, across all supported trading pairs. Each fill is converted to **USDT notional** using the **execution price at the time of the trade**. The rolling total is recalculated **daily at 07:00 (UTC)**. Example: If a user trades BTC, XRP, DOGE, SOL, and BCH within the past 14 days, each fill is converted to USDT notional at its respective execution price. At **07:00 (UTC)** each day, the platform recomputes the cumulative notional volume over the latest 14-day window. ### Maker and Taker Orders A **maker order** is a limit order that is **not immediately matched** and is therefore posted to the order book, **adding liquidity**. A **taker order** is an order that **immediately matches** against existing liquidity, **removing liquidity** from the order book. Fees are assessed upon execution, using the applicable **maker/taker fee rate** for the user’s current tier. ### Fee Calculation Rules **Transaction Fee = Average Transaction Price × Contract Value × Number of Contracts × Fee Rate** **Average Transaction Price = Σ(Priceᵢ × Volumeᵢ) / Total Volume** Example: For **BTCUSDT** perpetual contracts with a **contract value of 0.0001 BTC** per contract, assume the **average transaction price** is **100,000 USDT**. Trader A (**Maker Fee: 0.02%**, **Taker Fee: 0.05%**) opens/closes **100 contracts** at market price (**taker**). Trading fee for Trader A = 100,000 × 0.0001 × 100 × 0.05% = **0.5 USDT**. For **USDT-margined perpetual contracts**, fees are **settled in USDT** and **deducted immediately** from the available balance after each execution. ### Liquidation A **liquidation fee** is charged using the **most conservative taker fee rate** (i.e., **0.05%**) across all tiers. This approach ensures costs are covered under stressed market conditions and supports stable platform operation. ### Daily Update of Fee Level The platform updates each user’s latest **fee tier** on a **daily** basis at **07:00 (UTC)**, based on the rolling 14-day trading volume. ### FAQ **Q: What are maker and taker orders? Why are the fees different?**\ A: A taker order executes immediately against existing orders and removes liquidity, so it is typically charged a higher fee (taker fee). A maker order posts to the order book and adds liquidity, so it is typically charged a lower fee (maker fee). **Q: Why can the PnL shown while holding a position differ from the PnL after closing?**\ A: Unrealized PnL reflects mark-to-market gains/losses before closure. Realized PnL is the net result after closing, accounting for transaction fees and funding payments. The difference commonly arises from these costs. **Realized PnL = Price Difference × Contract Value × |Number of Contracts| + Funding Fees (±) − Transaction Fees** Example: For **100 BTCUSDT** perpetual contracts (contract value **0.0001 BTC** per contract), opening price **100,000 USDT**, closing price **105,000 USDT**, Opening Fee **−0.5 USDT**, Closing Fee **−0.5 USDT**, Funding Fee **−1 USDT**: Realized PnL = (105,000 − 100,000) × 0.0001 × 100 − 1 − 0.5 − 0.5 = **48 USDT** # Available Pairs While AX is built on **decentralized market access**, listings are governed by **responsible standards** to protect users and preserve **platform integrity**. At launch, AX will support **major, top-tier pairs** with established liquidity and robust market infrastructure. During the early stage, new listings will be reviewed and onboarded **selectively** based on **risk**, **liquidity quality**, **price integrity**, and broader market structure considerations. Over time, AX aims to progressively **decentralize the listing and vetting process** as the ecosystem and governance framework mature. # Affiliate Program AX’s vision is to build an affiliate program that **rewards measurable partner contribution** over the long term. In many traditional exchanges, affiliates are constrained to a limited portion of fee revenue, which can weaken incentives and reduce alignment between platforms and partners. On AX, affiliate partners receive **tiered revenue sharing** that scales with performance. Rebates begin at **40%+** and unlock higher tiers as referred trading activity grows, allowing partners to capture a greater share of value as they drive sustained volume and engagement. We prioritize **transparent, performance-based partnerships**. As AX expands, partners scale with the network through **clear reward progression** and additional benefits tied to their impact on the ecosystem. ji #### **Program Terms and Risk Controls** AX may, at its sole discretion and in accordance with the platform’s **Risk Control Rules**, adjust affiliate parameters and program operations to preserve **market integrity** and prevent **abuse**, including but not limited to **self-referrals**, **multi-accounting**, **wash trading**, or other activity that artificially inflates volume or rewards. Where abnormal patterns are detected, AX may apply measures such as **reward suspension**, **tier adjustment**, or **account-level restrictions** as permitted under the applicable rules. For definitions, eligibility criteria, and enforcement standards, please refer to the **Risk Control Rules** page. # Liquidity Provider Protection Liquidity providers are fundamental to the **stability**, **depth**, and **execution quality** of AX. Our dual-vault architecture—**AMLP** for market-making and **AHLP** for hedging—forms the foundation of a system designed to protect LP capital while supporting efficient execution across the exchange. Looking ahead, AX plans to introduce enhanced incentive mechanisms and updated **APY structures** in **future**. We are also developing an additional liquidity pool dedicated to supporting the broader AX ecosystem. By depositing assets into these pools, LPs can benefit from **controlled capital deployment**, earn **competitive yield**, and unlock additional ecosystem rewards made available by AX.
# Earn as a Trader - AX Points **AX Points** are a points-based incentive system designed to align **long-term participation** with the growth of the Antarctic ecosystem. They provide a transparent way to recognize meaningful contribution while keeping the protocol’s incentive design **rules-based** and measurable. Prior to public launch, exposure to the **ATTX token** was primarily available through private market participation. **AX Points** broaden access to future ecosystem reward programs by recognizing users who contribute from day one—across both trading activity and non-trading actions that strengthen the network. Your accumulated **AX Points** may be used to determine your relative share across eligible incentive programs, including future airdrop seasons and long-term reward pools (where applicable). Points are computed from verified activity and contribution signals. Contribution quality may unlock **multipliers**, which can increase point accrual or program allocation as defined by the applicable rules, without changing the underlying fee schedule. AX Points are not limited to trading. As AX expands, additional earning routes may include **providing liquidity** (e.g., AMLP/AHLP participation), **governance participation**, **referrals**, **tooling or integration contributions**, and **community participation** that supports ecosystem development. The objective is to acknowledge and provide recognition for those who contribute to building, improving, and sustaining the AX network. **Important Notes** * **AX Points are not a token** and are intended solely as a mechanism for tracking participation within the ecosystem. * Any potential future benefits associated with AX Points are **not guaranteed**, may be subject to eligibility criteria, and may vary by program. * Point rules, multipliers, and eligible activities may be **updated** over time to preserve **market integrity** and prevent abuse. * Eligibility and enforcement standards for abnormal behavior (e.g., **multi-accounting**, **self-referrals**, **wash trading**) are governed by the platform’s **Risk Control Rules** page.
# Roadmap **2024** * 7 Million USD Seed Round Raised * On-chain ZK Order-book Development * Perp Alpha Test **2025 Q1** * Testnet Live * First 100 Million in Volume * AMLP Implementation **2025 Q2** * Beta Test with Exclusive Partners * First Billion in Volume * Hedged LP Option Live **2025 Q3** * Antarctic V2 Mainnet Upgrade * DeFi Earn Integrations * Tokenomics Point System **2025 Q4** * Tokenomics Disclosure * Antarctic Mobile App Launch **2026 Q1–Q2 （upcoming!)** * Antarctic V3 Quant Upgrade * DeFi Integrations: Lend/Borrow, Vault Earn, etc. * API Access
# Technical Framework #### **Antarctic Technology Core Framework** AX is designed around a technical framework that prioritizes **user control**, **execution reliability**, and **market integrity**. At a high level, the system is built on four pillars: * **Self-custodied accounts:** Users retain control of their assets while interacting with the protocol, reducing reliance on third-party custody. * **zkRollup settlement:** A rollup-based settlement layer is used to improve throughput and settlement efficiency, with **privacy-preserving** design where applicable. * **Hybrid liquidity architecture:** Liquidity is supported through a layered model intended to maintain **resilient depth** and **consistent pricing** across market conditions. * **Governance safeguards:** Critical parameter updates are subject to **time-delayed controls** (e.g., timelocks) to improve predictability and reduce the risk of abrupt changes. Alongside these components, AX includes an embedded **risk-control layer** designed to monitor trading behavior and incentive usage, and to mitigate activity that could undermine market order—such as **abusive trading patterns**, **wash trading**, or misuse of campaigns and rewards. Specific eligibility standards and enforcement rules are defined in the **Trading Risk Management Framework** and the platform’s **Risk Control Rules**. # Trading Risk Management Framework This page outlines how AX manages trading risks through real-time monitoring and control mechanisms to maintain a fair, stable, and transparent trading environment. #### 1. High-Frequency Trading and Abusive Behavior Controls To maintain a fair and orderly trading environment, AX monitors and restricts trading behaviors that may disrupt market stability, including but not limited to: • Extremely frequent opening and closing of positions within a short period\ • Wash trading or self-matching trades\ • Programmatic or automated trading used for exploitation rather than genuine trading\ • Actions intended to manipulate market depth, liquidity, or pricing signals #### 2. Fund Compliance and Anti-Money Laundering (AML) Monitoring AX uses a third-party AML system to monitor on-chain fund activity on a 24/7 basis. Reviews may be triggered under the following conditions: • Rapid or unusually large deposits or withdrawals\ • Deposits or withdrawals with little to no trading activity\ • Short-cycle cross-chain transfers after minimal trading\ • Funds flagged as high-risk by compliance systems **Review Process:**\ • Transactions that trigger alerts may experience temporary delays\ • Users may be requested to provide information regarding the source of funds\ • Once funds are verified as low-risk, withdrawals will be processed promptly > Please note: Attempts to interfere with the review process—including spreading unverified information or creating public pressure—may be considered high-risk behavior and could result in extended review time. #### 3. Campaign Fairness and Anti-Cheating Measures To protect the fairness of platform campaigns and incentive programs, the following behaviors are considered violations: • Use of multiple related or controlled accounts\ • Malicious hedging to exploit campaign rules\ • Fake, fraudulent, or self-referred referral activities #### 4. Violation Handling When risk control rules are triggered, AX may take actions based on the severity of the situation, including but not limited to: • Adjustment or deduction of rewards\ • Temporary restriction or freezing of funds\ • Account-level limitations, suspension, or termination Users are expected to trade through official channels and maintain reasonable trading behavior. AX remains committed to protecting genuine users and providing a secure and transparent trading environment. *** # Self-custody Fund Account #### **Overview:** Antarctic uses a **non-custodial, on-chain account model** for user funds. Deposits and withdrawals are executed through **auditable smart contracts**, and users retain control of assets via their own wallets. This design aims to provide **self-custody by default**, while enabling trading and settlement through the protocol’s core infrastructure. #### **User Control:** Users interact directly with Antarctic’s smart contracts using their **wallet private keys**. All fund movements (e.g., deposits, withdrawals) require **user-initiated, cryptographically authorized transactions**. At no point does the platform require users to transfer custody of assets to a centralized entity. #### **Security Model:** Because funds remain under **user custody**, the model reduces exposure to custodial failure modes commonly seen in centralized systems. Security relies on (i) the correctness of the deployed smart contracts and (ii) the user’s ability to securely manage private keys. Antarctic applies **rules-based operational controls** at the protocol level; specific risk and compliance controls are described in the dedicated **Risk Management** section. #### **Multichain Deposits:** Antarctic supports deposits from **approved networks** compatible with the protocol’s settlement and accounting system. Supported networks may evolve over time as infrastructure, security reviews, and operational requirements change. The current list of supported networks is published in the product interface and documentation. # ZK Rollup Technology AX uses zkRollup infrastructure to improve throughput, reduce settlement costs, and strengthen privacy guarantees where applicable. Instead of posting every transaction on-chain, the rollup batches many updates off-chain and submits compact cryptographic commitments on-chain, ensuring the system remains verifiable and tamper-resistant. #### How It Works **Batching & State Commitment**\ Trades and account updates are aggregated into batches. Each batch updates the rollup’s state (e.g., balances, positions), and the resulting state is committed using a Merkle tree structure. Only the minimal data required for verification—such as the updated state root—is published on-chain. **Data Compression**\ By committing a batch as a single state update, zkRollups significantly reduce on-chain storage and execution overhead compared to recording each transaction individually. This improves efficiency while keeping settlement anchored to L1 security guarantees. #### Zero-Knowledge Proofs For each batch, the system generates a validity proof (e.g., zk-SNARK) that demonstrates the batch was processed according to protocol rules—without requiring the full batch details to be re-executed on-chain. This enables high confidence in correctness while preserving privacy properties where applicable. #### Verification Flow 1. **Batch is processed off-chain** and the rollup state is updated. 2. **A new Merkle root (state root)** is produced to represent the updated system state. 3. **A validity proof is generated** to attest that the state transition is correct. 4. **The proof and state root are submitted on-chain** for verification. 5. **On-chain verification finalizes the update**, leveraging the integrity guarantees of cryptographic hashing and zero-knowledge proofs. #### Why This Matters * **Higher throughput:** supports more trades per unit time. * **Lower cost:** reduces on-chain overhead by batching and compressing updates. * **Verifiable integrity:** rule-enforced state transitions with cryptographic proofs. * **Privacy-aware design:** enables privacy-preserving settlement components where applicable. # Hybird LP Model AX uses a hybrid liquidity model that combines on-chain guarantees with off-chain efficiency. Deposits and redemptions—covering stablecoins and the AMLP/AHLP vaults—are executed through smart contracts to preserve transparency and user protection, while off-chain components support performance and operational scalability where appropriate. #### On-chain + Off-chain Design AX’s liquidity system is built to keep the LP experience simple without sacrificing verifiability: * **On-chain execution and auditability:** Core actions are enforced by smart contracts, and key interactions can be independently verified on-chain. * **Off-chain efficiency:** Off-chain modules help manage complexity and improve throughput, enabling a smoother user experience while maintaining clear, rules-based behavior. #### Liquidity Pool Stability & Protection To reduce unnecessary churn and protect LPs during periods of volatility, AX applies a **Time Lock** on LP exits. This mechanism is designed to: * discourage frequent in-and-out behavior that can destabilize pool performance, * reduce negative externalities on long-term participants, and * maintain fair, predictable liquidity conditions for the broader market. Critical parameters related to liquidity operations are governed by transparent rules, with safeguards (including time-delayed changes where applicable) to ensure consistent and accountable system behavior. # Tokenomics Lightpaper Antarctic Exchange (AX) is a community-first decentralized exchange looking to bring everything users love about centralized exchanges on-chain - starting from perpetual futures. AX offers advanced trading features and a token designed for network alignment and predictable growth. Focusing on creating a self-sustaining ecosystem, AX offers traders with deep liquidity, high performance, institutional level earn products, and the fairest trading environment without predatory institutional manipulation or bleeding on fees. By providing financial solutions with a low entry barrier, AX empowers individuals to participate in the market with confidence and ease. # What is ATTX Unlike traditional exchanges, AX envisions an ecosystem that establishes mutually beneficial relationships among all market participants, setting the foundation for a self-sustaining and self-propelling environment. The goal is to enhance the trading market through innovative technology and community-centric solutions, catering to the diverse needs of both centralized exchange (CEX) and decentralized finance (DeFi) users. The ATTX token is the glue that ties the AX ecosystem together, aligning incentives across participants and powering platform functions. As users engage with the ecosystem and interact with the token, they unlock various benefits, all of which contribute to the token’s overall success and long-term value. # Key Actors Unlike centralised exchanges where the core team seek to exploit all actors for profit, ATTX allows AX to facilitate a flywheel effect where all key actors have their incentives aligned and mutually reinforce one another. | Actors | Description | Economics & Incentives | | ---------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Traders |

End retail customers who use Antarctic Exchange for trading activities, ranging from low-ticket to high-ticket whales.


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Affiliates


| Influencers who have a large following who can refer users to Antarctic Exchange and receive compensation for those referrals based on trading volume | | | Liquidity Providers | Actors that provide liquidity in liquidity pools to increase the liquidity depth of trading pairs and improve AX efficiency. | | | Ecosystem Partners | DeFi Protocols and other partners who are integrated with the Antarctic Exchange platform to drive adoption and awareness | | | Founding Team | Founding team that is responsible for the development and implementation of the network and necessary products | | | Governors | Token holders who perform governance voting by locking their tokens | | | Treasury | Drive token value accrual to ensure sustainability of the economy | | Together, powered by the AX token, these actors are empowered beyond the core application, while the platform team acts as the coordinator, maintaining infrastructure, adjusting incentive parameters, and gradually decentralizing governance to the broader community. # What Does ATTX Do ATTX is the core token that powers the AX ecosystem, it represents 3 major pillars: governance, utility, and value accrual. * Governance – While our team are adamant believers in decentralisation, we recognize the need for a strong guiding hand at the earlier stages of the protocol. As the protocol scales, major decisions will be passed to ATTX token holders. The decisions token holders can influence are - and are not limited to: Trading fees Funding fee adjustments New token listings New products Token monetary policy Major company direction * Utility – Utility design needs to be continuous to stay up to date with the rapidly changing market. As our protocol matures, we will build new utilities into the token. Nevertheless, the token will have always have a base layer of utility to be used in the AX ecosystem to: Decrease trading fees Increase VIP levels Increase yields Open up premium earn opportunity Gain access to exclusive trading tools and features Act as a currency to pay for any services rendered by the protocol Airdrop / access to ecosystem partners * Value Accrual – Most projects building in Web 3 struggles with generating any realistic value to support neither their token price nor have a way to direct the success of a protocol to the value of its token. AX stands in strong opposition to this culture of neglect, utility and governance is not enough, the success of a protocol must reflect on the token. With that in mind, ATTX is centrally designed around value accrual though a mixture of buy back and burn and buy back and redistribute mechanism. For the sake of compliance, we will only publish more details regarding our value accrual tokenomics after the launch of our token. Buy back and burn – permanently lowering supply and increasing market cap Buy back and redistribute – allow for a sustainable ecosystem with consistent rewards available to contributors. Only certain token holders will be eligible to receive redistributions, the exact terms of which we will announce closer to our TGE. # Token Distribution The token distribution is strategically designed to support the project’s growth, ensure market stability, and incentivize long-term participation. Below are the details of each allocation bucket with the vesting schedule, and charts showing the allocation percentage and total tokens in circulation.
* Airdrop — Airdrop rewards distributed to active traders to reward trading volume and engagement. * Seed Round and Private Round — Early-stage funding to support platform development and initial growth initiatives. * KOL Round — Allocated to key opinion leaders who amplify platform visibility, user acquisition, and community engagement. * Market Makers & Exchanges — liquidity and LP incentives required to support token liquidity on secondary markets after token launch. * Team and Advisors — alignment tokens for the core development team and key advisory partners. * Ecosystem Dev — Reserved to fund grants, partnerships, and strategic initiatives that drive long-term network growth and utility. * Liquidity — Allocated to bootstrap on-chain liquidity and support healthy trading across key markets. * Treasury — Tokens from the treasury will be allocated to incentivize trader, community engagement, and event development. This token allocation strategy prioritizes community ownership, allocating up to 63.4% of tokens to the community. This is a larger share than that allocated to both the team and investors combined, which provides retail investors with a sense of majority ownership. # Base Earn Rate Every dollar of volume you trade immediately earns you 1 AX point. The more you trade, the more AX points you accumulate. Additionally, to account for your loyalty with us and your skill as a trader, your account will be graded – we call this a contribution score – and a multiplier applied to all of the points you earn in a given time period. # Contribution Score During the pre-launch phase, the system emphasizes early traders adoption and community engagement to reward and recognize early support. Antarctic has a sophisticated scoring system that balances several factors, including, but not limited to: | Factors | Explanation | | ----------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------- | |

Accumulated liquidations

in the past 30 days

(if account performance is below 0%)

| If you’ve been liquidated, that activity contributes to your score. It’s our way of recognizing your contribution and helping you bounce back. | |

Account performance % in the past 30 days

(if account performance is above 0%)

| If you are consistently making profits, you deserve credit for it. | |

Referred trading volume

in the past 30 days

| If your referrals are actively trading, you get credit for their volume too. | | Weighted average leverage used | This factor considers your average leverage across trades, weighted by position size - recognizing traders who actively engage with leverage as part of the strategy | | Trading volume in the past 30 days | Recent volume matters most. Your score reflects what you’ve done lately, so keep trading to stay on top. | | Profile and social completion | If you are engaged with our content, you deserve recognition | | LP participation | If you contribute to the LP, you are helping AX to power all trades. Of course, you serve to be rewarded for your contribution. | Once traders have their contribution score, they are ranked into tiers. A trader must fall within a certain percentile of all traders on the platform and receive a multiplier to their base score based on their ranking — for example, reaching top 5% of all traders will greatly increase your multiplier compared to if you are within the top 40% of all traders. As an overall example, say that a trader has a trading volume of 10000$ dollars and a score that gives them a 1.1X boost. After 30 days 11000 points will be credited to their account. Ultimately, our system is designed to recognize and reward trading volume and consistent traders at its core - so if you are here to trade, you are already on the path to capturing the most value!
# Earn as a Liquidity Provider Liquidity Providers play a vital role in the AX ecosystem. By contributing capital to our liquidity pools, you contribute to the depth of trading pairs and the efficiency of our network. In return, you will receive the yield. Liquidity providers earn x% of trading fees collected by the exchange. Before our TGE, LP contributors also receive ATTX tokens through a form of “boosted yield” based on your LP contribution. For example, if the native yield of our LP is 10%, you may receive an extra X% in ATTX token - boosting your yield
# Conclusion Antarctic Exchange is building more than just another DeFi protocol—it’s constructing an ecosystem where every participant is rewarded for their contributions and aligned with the long-term success of the network. The ATTX token sits at the center of this new paradigm, enabling governance, powering real utility, and embedding sustainable value accrual into the foundation of the protocol. Whether you are a trader, affiliate, liquidity provider, or simply a believer in a more equitable financial system, AX offers clear pathways to participate, earn, and shape the future of finance. Through thoughtfully structured tokenomics, an inclusive rewards system, and a transparent governance model, AX reimagines how decentralized exchanges should operate: with integrity, fairness, and user empowerment at the core. # Tokenomics Antarctic Exchange aims to establish a token system that is built on value accrual in our ecosystem - with a focus on having sustainable psdo-deflationary tokenomics. Antarctic will be issuing a token that will have utility to be used in the Antarctic ecosystem, allow users to participate in governance, and be used to reward and incentivize certain user behaviours such as providing LP, trading, and other forms of engagement. \ \ As we increase our level of decentralization we want the majority of our token to be in the hand of our users and the contributors that help us grow. As a result, upon full dilution of the token the majority of the tokens will be held by our end users instead of our team or investors. While what you see in this litepaper is not the full scope of our token offering, we will be issuing a full token breakdown prior to our TGE. # Token Distribution
The distribution of AX tokens (ATTX) is based on the principles of fairness and transparency as inline with our company vision. More than 51% majority of the token will be in the hands of users by the time the token fully Vests. | **Category** | **Percentage** | **Supply (no.of tokens)** | **Description** | | ------------------------- | -------------- | ------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | **Seed Investor** | 8% | 8,000,000 (8M) | The token shares allocated to angel round investors ensure that early supporters obtain corresponding returns. | | **Private Sale** | 8% | 8,000,000 (8M) | Token allocation for Crypto VCs during Series A and B funding rounds to support the project's continuous development and market expansion. | | **Advisors (KOL)** | 5% | 5,000,000 (5M) | Token allocation for CEX, DEX agent channels, and KOLs (Key Opinion Leaders) to enhance the project's market influence and improve liquidity. | | **Team** | 8% | 8,000,000 (8M) | Token allocation for the project's product development and marketing teams, with a reserve for future team expansion. | | **Liquidity** | 6% | 6,000,000 (6M) | Token allocation for market making and IDO (Initial DEX Offering) to ensure market activity and liquidity. | | **Incentives** | 45% | 45,000,000 (45M) | Reward token allocation for miners and liquidity providers to incentivize participation in mining and liquidity mining. | | **Treasury** | 2% | 2,000,000 (2M) | Initial tokens deposited into the treasury for protocol operations and to cover potential losses from extreme market fluctuations, ensuring stable project operations. | | **Ecosystem Development** | 10% | 10,000,000 (10M) | Token allocation for supporting collaborations with other projects, marketing, and research and development, efforts to aid ecosystem expansion and innovation. | | **Airdrop** | 8% | 8,000,000 (8M) | Some tokens are allocated for airdrop activity incentives. The amount of tokens to be distributed to are first pre-mined and represented through points collected by users who participate in various activites. These tokens will be released in batches gradually after TGE. | | **Total** | 100% | 100,000,000 (100M) | | # Token Inventive Program We will offer tokens incentivize programs to contributors on a rolling basis. Any users that participate in liquidity mining, trading, and referring will be eligible for these rewards. As we get closer to our launch we will release a full tokenomics paper that outlines the exact processes of which our incentive program is based on. The platform will adopt a decreasing reward mechanism to ensure the stability of token supply. The specific functions of Antarctic platform tokens will include governance, transaction fee discounts, and VIP status on launch, with new utility added as more products release. # Token Value Accrual Every time a revenue generating transaction happen within the Antarctic ecosystem, a portion of that revenue will be used to purchase ATTX on the market and stored in the Antarctic Treasury - this supply of token will be either be held or used at the discretion of the foundation at first and upon full decentralization, the DAO. As long as we are providing a good product that our users are using, we expect value to flow consistently in to our token. # Liquidity Management ### **Liquidity Mining Program** \ AX will solve the LP cold start problem by providing additional yield in ATTX at first to draw in LPs. After this period, to draw in consistent new LPs, we not only offer competitive yields but also provide a safe haven for LPs that aim to make a yield with less possible drawdown from impermanent loss. Antarctic aims to also enhance platform liquidity through a lock-up mechanism. The design of this mechanism will encourage users to hold and increase assets on the platform for the long term. # Governance Mechanisms ### **Decentralized Governance** AX will empower token holders through the Decentralized Autonomous Organization (DAO) model to vote on major platform decisions and the use of community funds, ensuring transparency and fairness in the governance process. Although the motions will at first be controlled by the AX team, as our decentralization efforts advance, the DAO will take over as the main decision makers for the projects. ### **DAO Architecture** Token stakers can participate in proposals and protocol upgrades, further enhancing the decentralized nature of the platform and ensuring broad community participation. # Team ### Coming from diverse backgrounds of both CEXes and DeFi. The team is set out to: 1. Expand cost-efficiently with prior 0-1 management experience 2. Release product features that are best suited for users from the 2 realms with indepth market understanding 3. Develop security measures that minimize both systematic and idiosyncratic risk with expertise in tech infrastructure development 4. Ensures the fairest and most efficient capital market with knowledge of quant trading and risk control # Project Contact Information We're committed to ensuring you have a smooth and enjoyable experience using our platform. If you have any questions, encounter issues, or simply need assistance, our dedicated support team is here to help. * Website : [Antarctic Exchange](https://www.antarctic.exchange) * Twitter: [@Antarctic\_EX](https://twitter.com/Antarctic_EX) * Linktree: [Antarctic.EX](https://linktr.ee/Antarctic.EX) * medium：[Antarctic Exchange – Medium](https://medium.com/@Antarctic_EX) * Discord：[Join the Antarctic Exchange Discord Server!](https://discord.gg/antarcticexchange) * Telegram：[Antarctic Exchange](https://t.me/Antarctic_EX) * Youtube ：[Antarctic Exchange](https://www.youtube.com/@Antarctic_EX) # Safety and Instructions Manual # Verification Channel Guidelines To ensure the security of your account, please do not directly copy verification links provided by third parties. We recommend manually copying the actual verification URL you open and carefully verif 1. Verification Scope This verification channel applies to identity authentication for the following official representatives: * Official Business Development (BD) personnel * Official Operations/Marketing personnel * Other roles officially recognized by Antarctic Exchange 2. Verification Process step1: Copy the link and visit the verification page; step2: Enter the BD information you wish to verify; step3: Click “Verify” – the system will automatically check the identity. If successful, a “Verified” message will appear; step4: If you identify any misconduct by verified personnel, you may submit evidence via the official website’s complaint portal. 3. Disclaimer * This verification system is intended solely to assist users in identifying official identities. Users should remain vigilant and exercise caution when interacting with any verified personnel, especially regarding financial matters. * Antarctic Exchange is not responsible for any losses arising from non-official channels. # General Safety Principles To safeguard your account and assets, please always keep the following security principles in mind: 1. Official Sources Are the Only Trusted Channels * For any important platform announcements, always refer to the Antarctic Exchange official website () and verified community channels. * Beware of “insider information” or “urgent notifications” from unofficial sources. 2. Never Trust Private Messages * Antarctic Exchange will never ask for your verification codes, passwords, private keys, or seed phrases through private messages. * If anyone contacts you privately claiming to be “customer support” or “official staff,” verify their identity through official channels immediately. 3. Do Not Disclose Personal or Sensitive Information * Never share your account password, SMS verification code, Google Authenticator code, private key, or seed phrase with anyone. * The platform will never ask for such information under any circumstances. 4. Be Cautious of Phishing Links and Fake Websites * Always access our website by typing the official URL manually or by using verified links from official sources. Avoid clicking on unknown links or scanning suspicious QR codes. * Bookmark the official website to prevent visiting phishing sites. 5. Only Use Software and Plugins from Official Sources * Only download trading clients, wallet extensions, and related tools from the official website or officially recommended platforms. * Avoid using third-party software from unknown sources. 6. Use Strong Passwords * Set a strong and unique password to enhance account security. * Update your password regularly and avoid using the same password across multiple platforms. 7. Stay Alert and Avoid High-Yield Scams * Be wary of any messages promoting “guaranteed returns,” “high rebates,” or “exclusive insider tips.” * Do not risk your assets for the promise of small profits. # Common Types of Fraud in the Digital Asset Industry To protect your digital assets, please stay vigilant against the following common scams: 1. Phishing Attacks In phishing scams commonly seen in the digital asset space, fraudsters impersonate platform staff, create fake websites, and spread false information via SMS, email, or Telegram chats. They may claim your account needs “upgrading,” “migration,” is under “risk control,” or that your “funds are at risk” to lure you into clicking phishing links or scanning QR codes. Once your account credentials, passwords, SMS/email/Google verification codes are leaked, your digital assets may be stolen almost instantly. Please note: The official AX website is . Be cautious and avoid phishing websites. In the crypto wallet space, scammers also impersonate official personnel and trick users into importing private keys or granting transfer permissions on fake websites or apps. Once such permissions are given, your private key and assets may be compromised. Scammers may even pose as platform staff and, under the pretense of “airdrop distribution,” “security risks,” “password leaks,” or “feedback reporting,” request your seed phrase. Once the seed phrase is submitted, the wallet assets will likely be stolen. 2. Fake Assistance Scams Fraudsters disguise themselves as helpful individuals, ask you to add them as contacts, and eventually trick you into making transfers under the guise of “trading signals from a mentor” or “investment guidance.” 3. Fraudulent Communication Scammers posing as customer support may initiate remote screen-sharing sessions claiming to "guide" you through account operations. They may ask for your SMS or Google Authenticator codes, or convince you to authorize logins from other locations. They might also give you false instructions, leading you to phishing websites or fake software installations. 4. Brand Impersonation Some scammers impersonate the AX brand to run fraudulent “investment opportunities” or promote fake “upcoming listings.” Important: For any investment or project-related activities, always verify with AX through official channels. Only refer to officially disclosed information on the AX website. 5. Fake Accounts Fraudsters may contact you on Telegram or other platforms, request your email, and send phishing links or QR codes. Once clicked, they will prompt you to enter login credentials or banking information, which is then used to steal your assets. 6. Fake Community Groups Scammers may create fake AX groups, claiming to represent “official” channels under the pretense of “airdrops,” “new project launches,” “token swaps,” “staking,” or “smart contracts.” These groups are fraudulent and not affiliated with AX. 7. Fake Software Scammers may trick users into downloading fake software from phishing websites. Reminder: Always download software or extensions only from the official AX website to avoid tampered or malicious applications. 8. Impersonating Platform Staff or Law Enforcement Recently, scammers have been posing as platform staff or even law enforcement agents. They claim your account is involved in “money laundering” or “illegal crypto,” and demand that you cooperate in “security reviews” or “risk removal procedures.” They use fear tactics to deceive you into revealing account credentials or making unauthorized transfers. 9. Fake Official Notices Scammers impersonate exchange customer service or other officials, claiming your account is “abnormal” or your assets are “frozen,” then coax you into providing verification codes, private keys, or making fund transfers. 10. Fraudulent Marketing Promotions Scammers use email, SMS, social media, or phone calls to promote fake marketing activities like giveaways, lucky draws, promotions, or limited-time offers. They may ask for upfront “processing fees,” “taxes,” or “service charges.” Once the user pays, the scammer disappears, resulting in financial loss. If you encounter any suspicious behavior or need assistance verifying identities or activities, please contact AX through official channels only. # Legal Disclaimer **No Offer or Solicitation:** This Litepaper is intended for informational purposes only and does not constitute a prospectus, an offer document of any sort, or a solicitation for investment in any jurisdiction. No person is bound to enter into any contract or binding legal commitment based on this document. **No Representations and Warranties:** Antarctic (AX) makes no representations or warranties, express or implied, regarding the accuracy, completeness, or reliability of the information contained herein. No promise or guarantee is made regarding the token's future performance, utility, or price appreciation. **Forward-Looking Statements**: This document contains forward-looking statements regarding the planned roadmap and operational goals of AX. Such statements reflect current views and are not guarantees of future performance. Actual results may differ materially due to regulatory changes, market conditions, and technical risks inherent in DeFi protocols. **Risk Acknowledgment:** Engaging with the AX platform and its tokens involves significant risks, including but not limited to the potential loss of all funds. Users are solely responsible for conducting their own independent research (DYOR) and ensuring compliance with applicable local laws before participating. # FAQ ### Login and Connection * **How do I obtain the address when logging in via Web2 ways? How can I manage it?**\ \ When you log in to Antarctic via Web2 ways, the system will automatically generate a corresponding address for you. You can find your wallet address in the upper right corner of the homepage and click the address to copy it.
* **Wallet Connection**\ \ Antarctic supports wallet login through these methods: MetaMask, OKX Wallet, Binance Wallet, Ledger also WalletConnect.\ \ For other compatible wallets, you can use WalletConnect. Simply click on the WalletConnect option, scan the QR code with your wallet app, and authorize the connection.
* **Which chains are supported by Antarctic?**\ \ Antarctic currently supports three chains: Arbitrum, Ethereum and BNB Chain. Users can switch chains via the upper right corner of the website. ### Assets Deposit Withdrawal Transfer * **How do I deposit and withdraw funds?**\ \ **Deposit:**\ Before depositing, ensure that your wallet address is activated and corresponds to the correct chain.\ Log in to Antarctic, go to the “Assets” page, and click on “Deposit.”\ Select the corresponding network and proceed with the deposit.\ \ **Withdrawal:**\ Go to the “Assets” page and click on “Withdraw.”\ Select the corresponding network, verify the target wallet address, enter the withdrawal amount, and confirm the withdrawal.
* **Are there any restrictions on deposits withdrawals transfers?**\ \ The minimum deposit amount on Antarctic is 10 USDT, there is no minimum withdrawal amount. The 24-hours transfer limit from the trading account to the funding account is 20,000 USDT.
* **What are the funding account and trading account?**\ \ **Trading Account:** \ This account is used for futures trading. Users can transfer funds from the funding account to the trading account. The trading account balance is independent of the connected chain, meaning it remains consistent regardless of chain switching.\ \ **Funding Account:** \ This is where funds deposited from your wallet to the exchange are stored. Based on deposits across different chains, the system automatically updates the balance of the funding account. Antarctic Exchange supports three chains: Arbitrum, Ethereum and BNB Chain.. {% hint style="info" %} **Example (1)**\ If a user deposits 100 USDT from the Arbitrum chain into the funding account, the balance of the funding account will display 100 USDT when connected to the Arbitrum. Similarly, if a user deposits 200 USDT from the BNB chain, the balance will show 200 USDT when switching to the BNB chain. {% endhint %} {% hint style="info" %} **Example (2)**\ If a user transfers 10 USDT from the Arbitrum funding account to the trading account and then transfers 20 USDT from the Core funding account to the trading account, the trading account balance will always show 30 USDT regardless of the connected chain. {% endhint %} ### Futures Trading * **What is the Auto-Deleveraging (ADL) mechanism, and when is it triggered?**\ \ When a trader is liquidated, the forced liquidation engine takes over the remaining position. If the insurance fund is depleted and the position cannot be closed at a price above the bankruptcy price in the market, the auto-deleveraging system will reduce the positions of traders holding opposing positions. The order of reduction is determined by leverage and profit ratio.
* **Auto-Deleveraging Priority System:**\ \ At any moment, your position in the queue is displayed by a priority indicator. This indicator shows in increments of 20%, indicating your position in the queue.\ \ In cross margin mode, only the net position of long and short positions is affected by the ADL system when triggered.\ In isolated margin mode, each direction’s position (long or short) is handled individually by the ADL system.
* **Why does a “quantity exceeds leverage limit” prompt appear when trading certain pairs with high leverage?**\ \ On Antarctic, some trading pairs have a maximum position limit when using high leverage. This restriction ensures controlled trading risks and prevents users from over-leveraging and taking on excessive risk.
* **Why is the token I want to trade not listed?**\ \ To ensure the safety of user funds and maximize the efficiency of LP funds, Antarctic strictly selects high-quality tokens with sufficient liquidity and resistance to manipulation. A stable and orderly token listing process is followed.\ \ If you want us to consider listing a specific token, you can submit your request to our customer support team, who will record and prioritize your suggestion. ### Fee Calculation * **Formula for calculating order quantity price:**\ \ Floor {User’s success rate parameter \* Available funds \* Leverage multiplier / \[Nominal value \* Order price \* (1 + (User’s taker fee rate \* 2) \* Leverage multiplier)]}\ \ Limit Orders: Use the latest price if no price is entered. Use the entered order price if specified.\ \ Market Orders: Long positions: Use the best ask price ; Short positions: Use the best bid price.
* **How are Taker and Maker fees calculated?**\ \ Maker (order maker) fee rate on Antarctic: 0.02%\ Taker (order taker) fee rate on Antarctic: 0.05% ### AMLP * **What is AMLP?**\ \ AMLP (Antarctic Market Making LP) is a token received after providing liquidity, carrying intrinsic value denominated in USD. Adding AMLP means providing liquidity, while removing AMLP allows you to withdraw liquidity.
* **How does AMLP generate profit?**\ \ By providing liquidity on Antarctic, you become a counterparty to users’ trades. If traders profit, liquidity providers incur a loss; if traders incur a loss, liquidity providers gain profit.
* **Why does my balance show funds, but the balance is zero when adding LP?**\ \ When adding AMLP on Antarctic , the funds are directly deducted from your wallet. Therefore, please ensure your wallet has sufficient balance before adding AMLP.
* **Why didn’t I receive USDT after removing AMLP?**\ \ 7-day waiting period: After submitting a removal request, the process enters a 7-day waiting period. Upon completion, users must manually unlock and sign the transaction to proceed.\ \ Confirmation within 24 hours after signing: After unlocking, you need to authorize the removal via an on-chain signature and click to confirm the removal within 24 hours of signing.\ \ Timeout requires re-submission: If users fail to confirm within 24 hours, the signature will expire, and users must submit a new removal request. ### Customer Support * **How can I contact customer support?**\ \ You can reach our support team via the following methods:\ Use the live chat function in the lower right corner of our website to contact online support.\ \ Email us at our support email: \ \ Contact us through the following official groups:\ Official Discord: