Recently, the on-chain PerpDEX sector has gotten quite interesting.

After the hype around Lighter and EdgeX cooled off, capital started looking for new opportunities. StandX launched its mainnet right at this moment, timing it perfectly—the first day’s trading volume shot up to $55M, and DUSD staking reached $176M.

This project has a notable background: the team comes from the derivatives department of a top-tier exchange, so their technical foundation is solid. They're now operating on both BSC and Solana, focusing on high-performance perpetual contract trading.

What sets them apart from other PerpDEXs is their “deposit points” mechanism, not just accumulating points through trading volume. This lowers the barrier for retail users—you don’t have to watch the market and farm volume every day. Just deposit DUSD and you can earn points passively.

Over on Polymarket, there’s a prediction that its FDV will land between $1B and $2B. Compared to other mature PerpDEXs, that valuation isn’t unreasonable.

The mainnet just launched, so we’re still in the early bonus phase. The recommended strategy is simple: deposit some DUSD to start earning points, do some small daily trades to complete tasks, and lock in your base score. It’ll be much harder to farm once more people join in later.

The official point rules haven’t been fully announced yet, but based on the testnet phase, deposit weight is the main factor. If you want to participate at a low cost, don’t wait for the rules to come out—by then, the cost will definitely be higher.

One more thing: early-stage DeFi projects always have an information gap advantage. Early entrants get the lion’s share, while those who wait too long often end up as bystanders.