ChainCatcher news, the decentralized perpetual contract exchange JOJO on Base has launched airdrop activity Session 1, which will distribute 5.85 million JOJO over 3 months.Users can obtain JOJO airdrops through trading, depositing, or providing liquidity. Additionally, users who have previously traded on JOJO will receive a retroactive airdrop, with a total of 11,190 addresses qualifying, and 8% of the total supply of tokens will be allocated for distribution. The retroactive airdrop is now open for claiming.

ChainCatcher news, the derivatives trading platform JOJO on the Base chain has completed its seed round financing, led by SevenX Ventures, with participation from SmrtiLab, Shadow Labs, Bitlink, PAKA, and Clairvoyant.JOJO is spearheaded by Radar Bear, co-founder of DODO, and David, former CTO of DDEX. The platform aims to create a highly open and liquid trading environment. It integrates a Turing-complete hybrid liquidity model, diversified asset staking mining, quantitative trading bots, leverage trading up to 1000 times, and automated funding rate arbitrage, aiming to provide comprehensive services for users with different risk preferences and to bring a good on-chain trading experience to the Base ecosystem.

ChainCatcher message, the perpetual contract exchange JOJO Exchange developed by DODO co-founder Radar Bear implements ZK proof of funding rates using Brevis's ZK Coprocessor technology. Through Brevis's SDK, JOJO creates ZK proofs based on on-chain perpetual trading and spot price Oracle data, thereby accurately calculating funding rates. Subsequently, the proof is verified on-chain and used to adjust the funding rates for JOJO users.