Author: 0xShinChan, Crypto KOL
Translated by: Felix, PANews
The post-FTX era has completely transformed the trading landscape, driving massive user migration towards decentralized perpetual contract exchanges (Perp DEX). These platforms now boast daily trading volumes exceeding $3 billion, demonstrating users' immense demand for decentralized derivatives.
However, the fragmented nature of early Perp DEXs was often hindered by UI/UX usability, liquidity depth, and price feed reliability, impeding widespread adoption. Starting in 2024, the market landscape began to shift, marked by innovative models like GMX PVP and dYdX order books. Now, lending, DEX, and yield trading protocol teams on the Sui Network are expanding their product lines, including perpetual contract trading.
Sui's Advantages in Perp DEX
Sui actually offers several compelling features that make it a strong contender for building perpetual DEXs.
High Performance and Low Latency: Sui's parallel transaction processing enables high throughput and low latency, crucial for efficient order matching and smooth trading experiences on DEXs.
Object-Centered Data Model: Sui's unique data model supports efficient storage and parallel processing of account and asset data.
Seamless Onboarding with zkLogin: The zkLogin feature simplifies user onboarding, allowing account creation with familiar Web2 credentials, reducing entry barriers for new traders.
Sponsored Transactions: Sui's sponsored transaction feature can lower user costs and enhance overall trading experience.
Here are Sui's early builders:
Bluefin
Astros, supported by NAVI Protocol
Aftermath Finance
Typus Finance GLP Trading Model
Kriya is also about to launch its Perp DEX.
Before diving deep, here's an overall comparison table.
The following will compare and analyze each protocol, examining their trading characteristics, protocol mechanisms, and performance.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and technical terminology.]
