Perpetual trading venues often rely on hype over substance. I'm more into numbers and hard lessons. Checked out a major perp platform recently and spotted three solid indicators: transaction volumes are now feeding into DeFiLlama—transparency that actually matters. Their recent DUSD stress test ran without user losses while reward points stayed intact. Plus, the DUSD Vault mechanism shows how the protocol handles risk properly. This is what on-chain execution looks like when builders mean business.