On The Brink with Castle Island Pbj (Perpl) on the Perp DEX Market & Monad's Imminent Launch (EP.677)
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Oct 14, 2025 Delve into the booming world of perpetual exchanges as the founder of Perpl shares insights on their allure for retail traders. Discover how derivatives dominate crypto trading volumes and the innovative strategies behind Hyperliquid's success. The discussion highlights Monad's unique features and potential for broad asset classes, while examining trading behavior across desktop and mobile. Learn about the exciting future of on-chain trading and how it could transform access to traditional markets.
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How Hyperliquid Cracked Perp DEXs
- Hyperliquid succeeded by launching at a moment of distrust in centralized exchanges and delivering a centralized-exchange-like UX on a custom chain.
- They combined market-making experience, passive liquidity pools, and chain-level optimizations to enable deep on-chain perp liquidity.
Launch PerpDex As L1 Flagship Product
- Build flagship revenue products like a PerpDex to attract liquidity and users to a high-frequency L1.
- Prioritize EVM compatibility and low gas/latency when choosing a chain to host an order-book perp exchange.
Market Maker Friendly Design Is Critical
- An exchange must optimize for both market makers and takers, especially making maker post/cancel gas-efficient on a general-purpose L1.
- Gas-efficient order posting and cancels are critical to attract professional market makers to an EVM order book.