Amber Group-Backed Perp DEX edgeX to Launch Token on March 31

Decentralized perpetuals exchange edgeX has confirmed that the token generation event (TGE) and listing for its native EDGE token will take place on March 31.

EDGE has a total supply of 1 billion tokens. At TGE, 25% of the supply will be airdropped, with up to an additional 5% for participants in the Pre-TGE Season points program. The remaining 70% is allocated to Ecosystem & Community, Core Contributors, and Foundation.

The token is already changing hands ahead of the official launch, with pre-market trading opening on Binance on March 19. EDGE is trading around $0.70, implying a fully diluted valuation of roughly $700 million.

The airdrop claim window also opened on March 19, according to an announcement from edgeX.

edgeX, which is incubated by Amber Group, has grown rapidly since launching in November 2024. The exchange processed roughly $4.4 billion in 24-hour trading volume across 176 trading pairs, with nearly $1.1 billion in open interest, according to CoinGecko, making it the third-largest perpetual DEX after Hyperliquid and Aster.

The TGE coincides with the platform’s transition from a single-product perp DEX to what it calls EDGE Chain, a purpose-built Ethereum Layer 2 for high-throughput financial applications.

In February, edgeX received a strategic investment from Circle Ventures alongside native USDC integration.