2025-12-09 06:22:05

There’s been a flurry of action in the perps sector lately.

Ethena has already built its own perpetuals trading market under Hyperliquid's HIP3 proposal framework, marking its official entry into the perps sector. Meanwhile, word has it that the next version of Fluid DEX will focus on launching perpetuals functionality.

It seems DeFi protocols are all pushing into derivatives; everyone wants a slice of the perps pie.

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MevTears

· 2025-12-12 04:04

Perps are so competitive now, it feels like every DEX wants to get a slice of the pie.

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ImpermanentTherapist

· 2025-12-09 14:11

Everyone's damn competing with perpetuals now, should've known it would turn out like this.

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DegenDreamer

· 2025-12-09 06:48

The perps sector is heating up, with both Ethena and Fluid gearing up. It feels like things are about to get really lively.

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PhantomHunter

· 2025-12-09 06:48

The perps sector is really heating up; it feels like every company wants a piece of the pie.

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VCsSuckMyLiquidity

· 2025-12-09 06:45

Perps are hot, huh? But let’s see who can survive to the end. HL definitely seized the home-field advantage this round.

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LiquidityWizard

· 2025-12-09 06:34

ngl the perps arms race is mathematically inevitable... empirically speaking, whoever optimizes the funding rate mechanism first wins statistically. ethena's move is actually just risk-adjusted positioning theater, theoretically.

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