staxed @StaxxedHl - Twitter Profile

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3 months ago

Updated PerpDEX farming tier list late July 2026. Trying to help you cut through the noise. I believe most of these projects will stand out more going forward compared to the rest of the noise, or you can just farm the rewards they’re currently giving out. I’ve been rotating capital and checking the actual product + incentive quality again. Here’s where things stand right now after looking at team shipping speed, reward design, and how early each one still is. S-Tier @variational_io Still the cleanest overall. Strong TradFi background team, solid funding, real volume. The points program is expected to end by late Q3 (September at the latest). TradFi competition is still ongoing, don’t miss it. They usually give out bonus points after the event ends. @OndoPerps Moved up hard to S. Just surpassed Lighter in 24h volume even though it only launched about 3 weeks ago. USDC rewards + points is still the best risk-adjusted farm on the list right now. You’re getting paid while farming, which lowers the real cost a lot. Looking at their previous events, the USD reward has usually been in the $0.2–$0.5 per point range. This is just based on past campaigns though, there’s no official conversion for this points program yet, so treat it as a rough reference only. A lot of other venues are already copying this dual reward model (Nado and Phoenix Trade are the clearest examples). A-Tier @perpltrade One of the strongest names on Monad right now. MON incentives + fully on-chain CLOB + still early. Points per dollar of volume are better than most mid-stage venues. @risextrade Has its own high-performance L2 built specifically for markets. Just launched Ignite Season 1 after doing serious early volume. Super early + unique architecture. B-Tier @extendedapp Ex-Revolut team, already making real revenue, points program still running (a few months left). I still keep a small position because of the possible TradFi distribution angle. They partnered with eToro not long ago, and I have a wild thesis that there’s a chance of something bigger with Revolut later, considering most of the team is ex Revolut. Could be a surprise down the line. @nadoHQ Clearly copying the Ondo dual reward model (points + weekly cash rewards). Worth watching, but the overall product and narrative still lag behind the S-tier names for me. @PhoenixTrade Also running heavy USDC rewards (daily + Flight Club). Easy to farm, but more of a pure incentive play than a structural one. C-Tier @hibachi_xyz Interesting dark horse. Circle + Arc connection is real potential, privacy/FX angle is unique, and it’s still underrated. Could surprise, but I’m already comfortable with my current points and not farming hard anymore. ________________________________________________ My current focus: Main size stays on Ondo Perps + Variational. Starting more serious size on Perpl and RISEx soon. Nado and Phoenix I’m only touching lightly for the cash rewards. Also worth noting: several of these can be farmed through @tread_fi or @arbital_xyz without manual hassle if you want to run volume more efficiently. What’s your main farm right now?