Quantitative Jobs in Web3

• Paradex is a high-performance decentralized exchange (DEX) developed on a Layer 2 (L2) solution specially designed for derivatives trading. Our platform is distinguished by its:
• Blazing fast order execution (<50ms)
• Deep liquidity, often a challenge in the DEFI sector, powered by the largest institutional liquidity network in crypto (Paradigm)
• Supercharged capital efficiency through an innovative on-chain risk engine designed with a unified framework for both cross and portfolio margining, extensible to any asset
• Infrastructure built on Starknet’s first Appchain, purpose built to handle high-throughput derivatives transactions
• The Paradex appchain leverages Starknet's advanced zero-knowledge rollup technology and enables customization without compromising on the high standards of security and decentralization synonymous with Ethereum. We’ve been pioneers in Ethereum rollup space:

🥇 First Appchain on Starknet

🥇 First to pilot 40 Million Cairo Steps / Block on Mainnet

🥇 First to deploy Quantum Leap (Starkware’s New Rust Sequencer)

👉 First to leverage fully open source Sequencer + Prover stack for escape hatch solution (Q224)

• Paradex’s V1 go-to-market focuses on perpetual futures trading, however our mission is to develop a permissionless and adaptable ecosystem for DEFI builders and developers. This ecosystem aims to support a broad range of on-chain financial services and innovation within the Paradex L2 framework, such as borrowing, lending, fund management, and structured products.
• We are backed by the leading traders and investors in the space, including Jump Capital, Dragonfly Capital, DCG, QCP Capital, GSR, Amber Group, Optiver, IMC Trading, Akuna Capital, CMT Digital, Avon Ventures (Fidelity), Vectr Ventures and many more large institutions.
• We are incubated by Paradigm, the largest institutional liquidity network in crypto and global leader in crypto options with over 30% market share and $20B in monthly volume.
• Our team consists of seasoned industry professionals and innovative technologists drawing experience and expertise from a wide range of preeminent firms across the cryptocurrency, financial and big tech industries (Binance, Bitmex, Genesis, Paradigm, Goldman Sachs, Morgan Stanley, Google, Meta etc). The team is deeply committed to advancing the intersection of blockchain, finance, and engineering.

Highlights

We are growing at light speed, achieving $200 million in average daily volume (ADV) within just five months of launch.

• $13B Lifetime Volume (launched Closed Beta in Oct 23)
• $9m Total Value Locked

Paradex is committed to building transparently in public, we openly share our key platform stats

The role

We are seeking an experienced Quantitative Strategist to join the Quantitative Research team. You will work on building a trading and risk infrastructure for a decentralized clearing and settlement protocol.

Some recent exciting projects include:

• Designing a prototype implementation of the protocol functionalities to simulate a derivatives market with a variety of products and an advanced risk engine
• Building internal trading algorithms to simulate market liquidity and trading activity within the test environment of the protocol

Responsibilities

• Building a prototype library for a sophisticated decentralized derivatives and spot clearing and settlement protocol
• Implementing unit tests and integration tests to validate the implementation and assess the risks under stressed scenarios
• Monitoring market liquidity risk, insolvency risk and other relevant protocol risks
• Designing and implementing a methodology to construct a market options volatility surface for pricing purposes
• Communicating requirements effectively within and across teams

Requirements

• A strong background in mathematics with good knowledge of probability theory, statistics and numerical methods
• Good understanding of financial derivatives and market microstructure
• Proficiency in back-testing, simulation, and statistical techniques
• Strong programming skills with quantitative languages such as Python, C++, Go
• Knowledge of options pricing models
• Strong interest in crypto and DeFi
• Strong attention to detail and accuracy
• Ability to think independently and communicate complex ideas clearly

Nice to have

• Experience working for a DeFi/CeFi exchange
• Exposure to machine learning techniques and experience applying them to financial data

Our Benefits and Perks

• Competitive pay and transparent pay bands
• Flexible work environment
• Unlimited vacation with a minimum required PTO of 10 days annually.
• Celebrate your national holidays, in addition to floating holidays, to honor what matters to you, not HQ.
• Full benefits (benefits vary by country)
• We offer the highest benefits package offered by our Employment of Record partners; insurance carriers and plans vary by country
• Generous technology and learning allowances
• $5000 first-year budget to spend on your computer, peripherals, office essentials...whatever makes you most efficient and comfortable. You'll then receive a $2000 refresh every 2 years.
• $1000 budget to spend on learning and development materials, courses or conferences.

Paradigm is an equal opportunity employer.