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@morganlefay.eth
Lately, a few things have happened that got me thinking 🤔 Maybe now’s the right moment for someone to launch a dark pool-style perp DEX. I’ve always found it odd how, on DEXes, everyone can see your orders in real time. And with perps, it gets even more dangerous—your liquidation price is basically out there for anyone to see 👀 Even on CEXes, where orders aren’t tied to a name, if you’re trying to buy, say, $1B worth of tokens, you definitely don’t want others to know ahead of time. If that info leaks, you’ll get front-run. Worse, if you’re on a DEX, MEV bots can take advantage of you 💸 That means bad slippage, worse prices, and money lost for no good reason. In TradFi, big players don’t deal with this. They just go to dark pools—private venues where the real liquidity often dwarfs what’s visible in the public order books 🏦
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@morganlefay.eth
With perps, the stakes are even higher. If someone knows your liquidation level, they can coordinate to push the price there and wipe you out. Doesn’t matter if you’ve got a billion dollars behind you—you’re vulnerable. Honestly, it feels like something like this may have just happened recently. Some folks say transparency helps market makers fill orders more efficiently 🤝 And yeah, that’s a fair point. Everyone’s got different risk preferences—I’m not here to say what’s right or wrong. But to me, it seems obvious there’s an opportunity here: someone should build a perp DEX with a dark pool twist. No public order book. No visible deposits or contract activity until things settle. You could do this with ZK or clever encryption 🔐 It’s not science fiction anymore.
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