When I met people in August, I kept hearing they were selecting the right shell, that fundraising was nearly finalized, and their DATs were ready to launch.
When I met people in September, I kept hearing they were all-in on rapidly developing Perp Dex, saying it was now comparable to a white-label exchange, with a fully-fledged system and key opinion leaders already connected.
When I ask about it now, I'm met with a "progress is on hold." That's fine, though; there's always the next hot market to pursue.