Cool down the perp dex Disclaimer: I am not targeting any party The current perp dex is like the cex from 2018 (it's somewhat similar to the AMM from 2021, but AMM has a lower threshold, all for issuing tokens) It's extremely hot, and the reason is simple — watching the big player Hyperliquid raking in profits, every ecosystem and fund is gathering to make a move Moreover, the big players believe that the contract trading market has enough capacity - just look at the current cex, aren't there several major exchanges standing tall? But is it really like that? 1. For perp dex trading - the Matthew effect (compared to spot trading) is very strong (HL/gmx completed the transfer of trading from cex to dex, which has eaten into a part of the trading; the rest is just an extension of cex liquidity) 2. The reason for the proliferation of cex is due to the different business models and profit methods of various types of cex; some are truly trading, some are marketing platforms, some are...
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