World Markets Launches 'Everything DEX'
A new decentralized exchange called World Markets has launched on the MegaETH network, branding itself as an "Everything DEX." The platform unifies spot trading, perpetual swaps, and on-chain lending into a single interface. The protocol aims to improve capital efficiency through features like cross-margin functionality for both professional and retail traders.
- The exchange is founded by Kevin Coons and is one of the first three applications to launch on the MegaETH network. - A core feature is its "No ADL" (auto-deleveraging) model, which assesses a trader's net portfolio exposure to prevent the forced closure of profitable, hedged positions during market volatility. - World Markets has no venture capital backers and is instead receiving initial liquidity support directly from the MegaETH network. - As of mid-February 2026, World Markets is the third-largest protocol on MegaETH, holding approximately $6.3 million in Total Value Locked (TVL). - The underlying MegaETH network, an Ethereum Layer-2, launched on February 9, 2026, and has since grown to roughly $66.5 million in TVL, driven primarily by stablecoin inflows. - MegaETH was founded in 2022 and raised $20 million in a 2024 seed round with participation from Ethereum co-founders Vitalik Buterin and Joseph Lubin. - The protocol's roadmap includes the introduction of vaults for automated leveraged basis trades within the next one to two months and a mobile application later in the year.
