According to @ai_9684xtpa, two addresses linked to a suspected 10/11 flash-crash short generated approximately $814,000 in trading fees for Hyperliquid from just three trades over 13 days; source: x.com/ai_9684xtpa/status/1981173273967890606. The author notes that if this insider whale continues opening positions on Hyperliquid, the exchange will keep earning significant fee revenue; source: x.com/ai_9684xtpa/status/1981173273967890606. For comparison, the post states that trader James Wynn contributed about $2.31 million in fees across 38 trades over 75 days, setting a benchmark the new address could reach; source: x.com/ai_9684xtpa/status/1981173273967890606. The post further argues that high-volume traders such as James Wynn, qwatio, and AguilaTrades act as effective marketing and recurring revenue streams for trading venues; source: x.com/ai_9684xtpa/status/1981173273967890606.

According to @AggrNews, public GitHub activity indicates that Toly, the co-founder of Solana, is building a perpetual DEX on the Solana network, as referenced in the report and attributed to GitHub code workstreams, source: @AggrNews; GitHub. The report provides no launch timeline, token model, or branding details for the project, limiting immediate pricing conclusions and placing emphasis on tracking repository updates for confirmation, source: @AggrNews. For trading preparation, market participants in SOL and Solana DeFi can monitor the referenced GitHub repositories for commit cadence, repository visibility, and testnet artifacts to gauge readiness before deploying liquidity or adjusting risk, source: GitHub; @AggrNews.

According to @KookCapitalLLC, Vest Exchange is a new perpetual DEX offering thousands of traditional finance markets alongside crypto, with a core focus on stock and equity index contracts, source: @KookCapitalLLC. The author states traders can earn 1.5x points when trading equities and equity indices, highlighting a points-farming opportunity, source: @KookCapitalLLC. The post describes the platform as promising and explicitly says it is worth farming, source: @KookCapitalLLC. The author also shared an access link via alpha.vestmarkets.com, indicating where users can join, source: @KookCapitalLLC.

According to @ranyi1115, 227 new decentralized exchanges were created and 8 graduated in the past 24 hours, signaling rapid growth in perpetual DEX infrastructure (source: @ranyi1115 on X, Sep 30, 2025). The post characterizes this trend as an accelerating perp DEX revolution, underscoring expanding on-chain derivatives venues that can affect liquidity distribution for traders (source: @ranyi1115 on X, Sep 30, 2025). The message promotes Own the exchange with Orderly One, indicating Orderly One’s association with enabling or powering these exchanges (source: @ranyi1115 on X, Sep 30, 2025). No additional metrics such as volumes, open interest, or fee programs were provided, so traders should treat this as directional context and monitor venue-level liquidity, spreads, and incentives before allocating capital (source: @ranyi1115 on X, Sep 30, 2025).

According to @KookCapitalLLC, the market does not have enough perpetual DEX options and should return to the proliferation seen during the BSC fork DeFi Summer period, indicating a push for more on-chain derivatives venues (source: @KookCapitalLLC on X, Sep 21, 2025). According to @KookCapitalLLC, a cited example from that era was Hyrule Swap, where farming the Golden Rupee led to significant losses and the token ultimately went to zero, underscoring liquidity and tail-risk concerns for farm tokens (source: @KookCapitalLLC on X, Sep 21, 2025). According to @KookCapitalLLC, this highlights retail appetite for more perp DEX launches while simultaneously reminding traders that illiquid emissions tokens can rapidly collapse to zero, a material risk factor for strategy design and risk management (source: @KookCapitalLLC on X, Sep 21, 2025).

According to @justinsuntron, Sunperp has onboarded over 3,000 users without any growth push and is promoting three trading perks—deposit paybacks, the lowest fees, and an airdrop—positioning it as the cheapest perpetual DEX on Tron for derivatives traders; source: @justinsuntron on X, Sep 21, 2025.

According to @justinsuntron, SunPerp DEX surpassed 1,000 new user registrations today, achieving the target set yesterday within a single day. Source: https://twitter.com/justinsuntron/status/1969305241548894572 According to @justinsuntron, users were invited to submit any experience issues, and he stated he will work through the weekend as the platform’s chief customer support to address them. Source: https://twitter.com/justinsuntron/status/1969305241548894572 According to @justinsuntron, this combination of single-day 1,000+ signups and direct founder involvement signals early traction and active support availability for the new perpetual DEX, which is relevant for traders evaluating platform readiness and execution risk. Source: https://twitter.com/justinsuntron/status/1969305241548894572

According to @KookCapitalLLC, an alleged attack against Hyperliquid, which they describe as coming from a “Binance mafia,” was the catalyst that flipped their stance and led them to enter with size that day (source: X post by @KookCapitalLLC, Aug 30, 2025). According to @KookCapitalLLC, they entered despite not having deep knowledge of Hyperliquid or a long-term thesis at the time, highlighting a tactical, event-driven trading decision based on the incident (source: X post by @KookCapitalLLC, Aug 30, 2025). According to @KookCapitalLLC, the Binance-related characterization is their allegation and is not independently verified within the post (source: X post by @KookCapitalLLC, Aug 30, 2025).

According to @dydxfoundation, perpetual DEXs processed approximately USD 1.5 trillion in on-chain derivatives volume in H1 2025. Source: dYdX Foundation on X, Aug 25, 2025. At the current run rate, full-year 2025 activity could roughly double 2024’s record high of USD 3.2 to 3.5 trillion. Source: dYdX Foundation on X, Aug 25, 2025. The foundation notes the surge is less about macro beta. Source: dYdX Foundation on X, Aug 25, 2025. For traders, this signals materially higher on-chain derivatives activity to track across perpetual DEX venues in 2025. Source: dYdX Foundation on X, Aug 25, 2025.

According to @KookCapitalLLC, Hyperliquid is still dominating protocol fee generation and they signaled $100+ coming in a post dated Aug 10, 2025. Source: Twitter/@KookCapitalLLC. Sustained leadership in on-chain fees typically corresponds to higher user activity, trading volume, and liquidity depth on a DEX, which can support tighter spreads and deeper markets. Source: Token Terminal metrics methodology. Before positioning, traders can validate fee share and revenue trends for Hyperliquid versus perpetual DEX peers using public dashboards. Source: DeFiLlama Fees and Revenue. Key trading checks include 24h and 7d fees, open interest, funding rates, and volume concentration on Hyperliquid relative to sector benchmarks. Sources: Hyperliquid analytics; Coinalyze derivatives data.

According to @ai_9684xtpa, edgeX generated 2.83 million dollars in protocol revenue over the last seven days, equal to 16 percent of Hyperliquid’s revenue in the same period, highlighting rising traction in on-chain perpetual DEX activity for traders to monitor, source: @ai_9684xtpa. The post states this seven-day revenue total places edgeX ahead of Ethereum ETH, Base, Solana SOL and Lido LDO on protocol revenue leaderboards, which is notable for market share tracking across on-chain derivatives, source: @ai_9684xtpa. It also notes Hyperliquid took three years to move from obscurity to a Top 4 position, while edgeX is roughly half a year old, indicating the competitive gap is narrowing within on-chain perps, source: @ai_9684xtpa.

According to @AltcoinGordon, $AMARA distinguishes itself with a fully public, onchain presale featuring no venture capital or insider allocations. As the first perpetual DEX targeting both carbon markets and synthetic assets, AMARA is now expanding into AI agent prediction markets, a rapidly growing sector. With real revenue generation from day one, this clean launch model could attract traders seeking transparent, decentralized opportunities. The unique focus on carbon and AI prediction markets may position AMARA for increased trading volume and liquidity, especially as ESG and AI trends intensify in the crypto market. (Source: @AltcoinGordon on Twitter, June 16, 2025)

According to @KookCapitalLLC, the founder of Solana publicly endorsed Hyperliquid, a rising perpetual DEX platform, highlighting its growing relevance in the decentralized trading ecosystem (source: @KookCapitalLLC, June 11, 2025). This endorsement could drive increased user activity and liquidity to Hyperliquid, potentially benefiting related tokens and the broader Solana (SOL) ecosystem. Traders should monitor SOL and perpetual DEX sector volumes for short-term volatility and opportunities.

According to @u03476923 on Twitter, the dYdX platform is currently distributing $2 million in monthly rewards, providing concrete incentive for active traders to participate. Unlike other perpetual DEXs such as Writer and Backpack, which have uncertain token generation event (TGE) timelines, dYdX offers immediate and verifiable trading rewards. This makes dYdX a more attractive platform for crypto traders seeking consistent returns from decentralized derivatives trading, as confirmed by dYdX’s official reward announcements (source: @dYdX, May 2025).

According to Ai 姨 (@ai_9684xtpa), following the recent incident involving Hyperliquid, there is speculation based on transaction records that a new perpetual decentralized exchange (DEX) may emerge on the Binance Smart Chain (BSC) ecosystem. However, official announcements from Binance should be prioritized for accurate information.

According to Crypto Rover, @LinearFinance has developed a perpetual DEX that caters specifically to traders' needs, featuring seamless multi-chain compatibility, one-click trade execution, lightning-fast deposits, robust security features, and a sleek, user-friendly design. The platform has been proven reliable since its inception in 2019.