How to Build a Perpetual DEX: Architecture, Liquidity, and Core Features
Perpetual decentralized exchanges are moving from a niche DeFi product into a core layer of crypto market structure because they combine the biggest revenue engine in digital assets, derivatives, with the transparency and self-custody of onchain finance. Coinbase noted in its 2025 shareholder letter that derivatives account for roughly 80% of global crypto trading volume, […]
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