Hibachi points will end on November 8, and a stablecoin foreign exchange trading platform will be built

The perpetual trading platform Hibachi posted on X that its points program will end on November 8. Hibachi stated that the project was initially aimed at providing privacy, speed, and performance for perpetual trading, with a cumulative trading volume reaching 10 billion dollars, and related goals have expanded to a larger scope.

Hibachi noted that the daily trading volume in the foreign exchange market is approximately 10 trillion dollars, with a settlement cycle of T+2, and liquidity acquisition is limited by credit limits and a centralized banking system. The settlement volume for stablecoins last year was 46 trillion dollars, which can be completed almost instantly and around the clock. The two systems are converging, but the trading infrastructure connecting them does not yet exist.

Hibachi stated that the venue it is building is an institutional-level exchange aimed at stablecoin-native foreign exchange, covering perpetual and spot trading. The project thanked early traders, referrers, and participants in product stress tests, stating that the related activities form the foundation for the next phase. Hibachi also explained that after the points program ends, rewards may still be associated with social or trading activities.