RISEx isn’t trying to be the next Hyperliquid. It’s building something different.
I’ve used Hyperliquid, Lighter, Variational and RISEx, and honestly, all 4 are impressive.
But RISEx has something that makes me believe it could grow much bigger than people expect.
@HyperliquidX → the current king of onchain perps.
Deep liquidity, strong execution, massive volume.
@Lighter_xyz → extremely fast, clean trading experience with strong performance.
@variational_io → differentiated perp infrastructure and a strong focus on capital efficiency.
@risextrade → still tiny compared to them, but the underlying architecture gives it a much bigger runway.
RISEx is already doing around $200M daily volume with roughly $44M OI after only ~4 months.
That’s the part people are underestimating.
@risechain only went live 2 days ago.
So RISEx is basically growing before the full @rise_ecosystem around it has even started operating.
The bigger opportunity isn't just another perp DEX.
It’s what happens when trading + liquidity + lending + vaults + yield + other financial apps can operate inside the same low-latency EVM environment.
Idle capital doesn't necessarily have to sit idle.
MarketCore can potentially turn liquidity into shared infrastructure across the ecosystem, allowing capital to become more productive instead of constantly moving between isolated applications.
That’s a completely different growth thesis.
Hyperliquid has already proven the market.
Lighter and Variational are proving there is room for multiple high-performance perp venues.
But RISEx could eventually benefit from something bigger:
an entire financial ecosystem growing around the exchange.
And this is why I’m not looking at RISEx only through today's volume.
If it can go from basically zero to $200M daily volume + $44M OI this early…
Imagine what happens when Rise Chain liquidity, applications and MarketCore adoption actually start compounding.
Maybe RISEx won't look “small” for very long.
I’ll explain the capital-efficiency + MarketCore thesis in my next post, because that’s where my real conviction comes from.
The interesting part may not have even started yet. 🤫
Hyperliquid S3 makes sense from a distribution/decentralization standpoint. During the genesis event there was ~94,000 wallets that received tokens. Today there are ~2.4 million users. The majority of Hyperliquid users today did not receive the genesis distribution, many who were onboarded due to builder codes, EVM, and HIP upgrades which came after genesis.
Also to note - total volume, OI, and liquidations metrics have grown significantly since genesis. In total ~$5+ trillion in volume and ~$125B in liquidations - most of which came after genesis.
"The world’s financial network should be owned by those who build and use it."
This statement would make sense if...the majority of users did get distribution.
@AlexPaz0X@risextrade@TxFlow_L1 honestly I looked into it and there's no proof anywhere that anyone there worked with hyperliquid in the past thru any linked in or anything, it's a good rumor tho sounds good, but its also just an hip-3 dex why would someone leave hyperliquid to work there.
bitcoin:native likely to reject here, next cycle low is due early next month, and we are trading into resistance.
If we break out here the bull run is likely back on, but it doesn't look very likely to me.