Attitude Toward Perpdex: There Is No 'Second HyperLiquid' The era of simply filling trading volume to wait for airdrops is over. Now, survival depends on a meticulous strategy backed by actual trading profits. 1. You must lower the unit price (mining cost). The strategy of simply repeating buying and selling to absorb fees and then recouping costs later with airdrops no longer works. Even considering airdrop rewards, thoroughly managing the 'mining cost' (unit price) paid to accumulate points is the key to survival. 2. Practical position management is the answer. If you plan to trade on other platforms anyway, you must open positions in the same way and generate profits from the trading itself. Rather than merely inflating the unit price through meaningless wash trading, you need smart management that secures both actual trading profits and airdrop rewards simultaneously. Practical Case Study: Proving Profit Through Direct Trading There is no longer a 'Second HyperLiquid.' From now on, you must approach this with a meticulous strategy. Below are the results I obtained through my own trading. - Based: I approached trading with a light approach, without forcing trading volume. As a result, I secured a trading profit of $10,000 and generated the remaining profit through airdrops. - StandX: Currently maintaining a trading profit of +$5,000. - Decibel: Although I haven't been trading for long, I am maintaining a profit of +$300. Reference Strategy: Arbitrage In addition to actual trading, a strategy worth considering is the 'arbitrage strategy.' This involves entering a long position on one side and a short position on the other, then closing both sides when the profit exceeds the fees. Note: While there is a risk of getting stuck if the price swings strongly in one direction, the market often eventually reaches a point where it returns to a profit exceeding the fees (stagnant position). Even if you get stuck, there is an option to exit through appropriate averaging down. Conclusion: Trading Profit + Airdrop = Final Profit The actual benefits we experience when using major exchanges (CEX) are not as significant as one might expect. Although I am also a VIP on Binance and OKX, the benefits of using these exchanges—aside from trading profits—are limited to occasional launch pools, fee discounts, and a fast trading environment. However, the usability of Perp DEXs has improved dramatically recently. It is a clear fact that if you trade directly on these platforms and take advantage of airdrop bonuses, your profits will be maximized compared to using standard CEXs. Now is the time to focus on 'trading strategies' rather than simple trading volume.