The perpetuals era has brought a wave of new perp DEXs into onchain finance. Competition has gotten intense.
@paradex climbed into the top 5 by open interest. Here's the strategy that got them there. 🧵
When a new asset or trade emerges, traders want to go long or short immediately. The DEX that lists first captures that volume (true for both crypto TGEs + equity perps).
Paradex decided to win that race consistently.
Being first is worth a lot. First-week volume on Paradex in four newly listed TGE markets:
$ASTER: $124.8M
$XPL: $51.4M
$LIT: $22.8M
$MON: $21.0M
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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