For active derivatives traders
If you’re already trading perps across CEXs and DEXs, @hibachi_xyz is worth adding to the rotation. It’s built specifically as a “provable exchange” for professional traders, using zk math and a modular stack (Boundless by RISC Zero, Celestia DA, Succinct ZK) to keep execution fast while proving solvency and trade correctness on-chain. The infra feels designed by people who actually traded size: low latency, deep order book style matching and decent liquidity around the core pairs. On top of PnL, there are ongoing points and incentive programs that reward real activity, from volume to participation in campaigns, which makes it more interesting than just grinding fees on a generic DEX.
Why I switched
I’ve slowly been moving my perp trading to @hibachi_xyz over the past weeks, and the difference is noticeable. Hibachi focuses on perpetuals for BTC, ETH and SOL with up to 5x leverage, which is conservative enough to manage risk but still gives decent juice in volatile conditions. What sold me is the combo of fast CLOB matching and on-chain settlement backed by zero-knowledge proofs, so every batch of trades is verifiable and user funds stay fully collateralized in smart contracts. No opaque balance sheet, no guessing whether withdrawals will work under stress. Add support for familiar wallets like MetaMask, Phantom and others on Base and Arbitrum, plus USDC/USDT collateral, and it fits nicely into an existing DeFi setup
Volatility trading
Trading this market’s volatility has been a nightmare on most perp platforms, but Hibachi has been the exception for me. @hibachi_xyz is a perp DEX with an off-chain CLOB, so you get CEX-level speed while everything settles on-chain with zk proofs and a provable custody model. During the last spikes in BTC and ETH, my orders actually got filled where I placed them instead of slipping into oblivion. Privacy is a big bonus: positions and trade data are encrypted and published via Celestia with proofs, so strategies are not completely exposed on-chain. If you’re actively long/shorting majors with leverage and care about both execution and solvency, Hibachi is one of the few venues that currently checks both boxes.