Don't think of Ferra as a more complex DEX; it's actually selling a programmable liquidity toolkit. I admit I initially frowned when I saw DLMM/CLMM/DAMM. Those three abbreviations made it seem like I was being forced to endorse something. But after testing it, Ferra's main message isn't about having many features, but rather that you shouldn't just come here to exchange tokens; you can use liquidity like building blocks. 1. The three engines aren't just for show; they give you three entry points for different ways to play the game. You don't need to memorize the details of each engine right now. Just remember that many DEXs rely on a single approach. Ferraa directly acknowledges that assets are different, and market-making methods shouldn't be one-size-fits-all. Therefore, it gives you three entry points; you choose according to your acceptable risk and playstyle. 2. What truly elevates it to the infrastructure level is the toolchain behind it. Frankly, everyone can talk about the three engines. But what really impressed me about Ferra is that it provides a complete guide on how to use it: ▪️DBC: Projects don't have to start from scratch with tedious contract writing; instead, it streamlines the asset issuance/liquidity activation process. ▪️Aggregation Routing: You don't need to compare pools yourself; transactions automatically take the optimal path. ▪️API/SDK: This is crucial. It's not just advertised on a poster; it's a practical tool for developers. These three elements together constitute a Liquidity Stack. Otherwise, it's just a multi-engine DEX. 3. To determine if it's truly running, I suggest you don't just focus on TVL. When running these protocols, I habitually check three things first; otherwise, I feel uneasy: ▪️TVL size (Don't fool yourself) ▪️Trading volume/turnover (Is it being used repeatedly?) ▪️Protocol revenue/commission (Is there any real cash flow?) You can find all three on DefiLlama. Checking them yourself will be a hundred times more reliable than me claiming it's powerful. 4. Some useful criticisms: The most pressing issue right now is the jarring feel. I'm not defending anyone regarding the negative aspects of the community, but they do exist: ▪️The perceived difficulty of using the Lucky Wheel ▪️Minor interactive bugs (like clicking without response – these are incredibly frustrating) ▪️Guild's exit costs/cooldown period are unfriendly to those with small capital. I actually hope Ferra treats these issues as essential, making the prompts clearer, reducing the risk of accidental clicks, and improving the exit mechanism. These aren't just superficial improvements; they're about retention. @ferra_protocol #Sui #DeFi #Liquidity #AMM #Composability #SocialDEX twitter.com/webktsr/status/201...