An old topic, how should the on-chain perp dex compete with other competitors, or even CEX?
I think it's just two points: one is to make the liquidity/user experience as good as possible, at least close to CEX; the other is to list smaller Altcoins without permission.
The above paragraph can be summarized in three words: liquidity, user experience and differentiation.
You can see these trends in the development of perp dex like Hyperliquid and SynFutures.
I like Hyperliquid because its liquidity is good, the user experience is great, and you can also play with small-cap meme (spot trading) on its front-end. You can even foresee that many memecoins will be able to run on Hyperliquid in the future.
SynFutures has also done well in this regard.
For example, in terms of liquidity, SynFutures adopts a centralized liquidity model. We can provide liquidity in the specified price range through its mechanism oAMM. This form of liquidity supply is more capital efficient than Jupiter JLP and GMX GLP. At the same time, the liquidity depth is better when users execute transactions in the specified range.
Although the liquidity supply is in the form of a DEX-style oAMM, the user's front-end experience on SynFutures is still an order book. This can meet the trading needs of derivatives users.
Another advantage of SynFutures is its permissionless derivatives market - anyone can come here to launch token-based derivatives (just need to provide the token as the counterparty, no need to provide USDC).
I think this is very important, it is the product advantage of SynFutures, to achieve differentiation from CEX products.
I have mentioned Base AI many times in my previous tweets, and in these few days, the market's attention has begun to shift to Base, and the market's attention to Base AI has even surpassed Solana. We can clearly see this change from the two pictures below (AIXBT has become the Top1 AI Agent mindshare)⬇️
Corresponding to the heat is the wealth effect, $VIRTUAL, $AIXBT, $CLANKER have all seen very large increases. Combining the information that SynFutures may launch a spot aggregator, SynFutures is likely to become an important participant in the Base AI meme hype.
Imagine that the future market may be tokens issued by Virtuals and Clanker, with SynFutures responsible for the spot and derivatives trading part (currently SynFutures is the No. 1 derivatives on Base), thereby catalyzing an even bigger Base AI bubble ;)
On November 25, SynFutures announced new news about the Foundation and $F, and the TGE is estimated to be soon. Their timing is also very good, just when Base is regaining market attention + Hyperliquid is issuing coins.
If you're interested, you can go check out the introduction to the Foundation and $F on the Official Twitter ⬇️
https://x.com/SynFuturesDefi/status/1861029432850616496
Finally, let's take a look at the basic information of SynFutures through Rootdata ⬇️
Finally, let me give a small advertisement for my paid group, which currently has about 450 members. It is jointly operated by me and Mantou, with me mainly doing research and fundamentals, and Mantou mainly looking at secondary market and on-chain meme. We both have Alpha content. The price is 3SOL/year.
TG Channel (where previous market views were shared): https://t.me/SleepinRain
Reading list: https://docs.google.com/spreadsheets/d/1JSmI-YDvbdxXJ1Tud2sK8mly33zh1VmcH8i5wUgSYs0/edit?usp=sharing
Quality CT information flow: https://x.com/i/lists/1795371206344130752
