I really want to hear the story of the fall of on-chain contract exchanges such as $DYDX, because it is very informative, why didn't it gradually grow? Why has this field been pushing the front wave so far, and the front wave is dying on the beach? Unlike CEX, such as Binance, can it always be the largest in the universe? If there are no trading rewards, or if the trading rewards are no longer enough, will the loyalty of the funds still be retained? What kind of mechanism can better retain on-chain funds?
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