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

Decentralized perpetuals exchange edgeX has scheduled the token generation event (TGE) and listing for its native EDGE token on March 31, the platform confirmed. The announcement follows the opening of airdrop claims and pre-market trading earlier this week.

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

Pre-market trading for EDGE opened on Binance on March 19, with the token changing hands near $0.70, implying a fully diluted valuation of roughly $700 million. The airdrop claim window also opened on the same day, according to edgeX.

The exchange, incubated by Amber Group, has grown rapidly since its November 2024 launch. It processed approximately $4.4 billion in 24-hour trading volume across 176 trading pairs, with nearly $1.1 billion in open interest, according to CoinGecko. That makes it the third-largest perpetual DEX after Hyperliquid and Aster.

The TGE coincides with edgeX'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, the project received a strategic investment from Circle Ventures alongside native USDC integration.