👂#NightTalkWeb3 "Perp DEX Battle" Retrospective — "Perp DEX's Core Technical Bottlenecks" Tony He @tonytfxyz (@TurboFlow_xyz): From the project team's perspective, the real bottleneck lies in risk control. Permissionless trading and the inability to conduct KYC make it difficult for Perp DEXs to defend against attacks like CEXs, forcing them to reduce leverage and limit listings. While BTC and ETH are nearing maturity, smaller cryptocurrencies still lag significantly in terms of depth, leverage, and trading volume; the security and incentive structures of cross-chain assets also make a smooth user experience difficult to achieve in the short term.