Why will PerpDex be the track with the strongest expansion in the next round? First of all, what happened in the recent round of Crypto market? The proportion of contract trading volume in the total trading volume has increased from 59% in 2021 to 69% last year. Even if the meme market was very hot last year, it could not stop this trend. Liang Xi was right before. Contracts are an important factor affecting spot prices. They are no longer just a "derivative", but have become an increasingly powerful dominant force. And what role does Dex play in this?
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From the initial 0.033% of dydx and gmx in 2021, through trading mining incentives, to 4% in 2023, and then to Hyperliquid in 2024, which became an on-chain exchange that can compete with CEX, the trading volume has stabilized at 10% of Binance, or about 2.7% of the entire market. In 2025, as blockchain technology becomes more and more mature, performance becomes higher and higher, and the block speed is constantly approaching the response speed of traditional Internet, the objective conditions for contract trading to shift to the chain are in place, and Hype has also proved this.
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