Forrét

still finding the way | LFP mod | focusing on @HyperliquidX @monad

[Forrét @forretevm]

I love the card! thank you @monad ! 🫶💜

[Forrét @forretevm]

😮

[suryaprakash.base.eth @TamilCrypt0]

🥳 Be ready for SybilResistantAirdrop from $BASE

It's like I said before, Base is building an Airdrop registration page, not a claim page. Recent GitHub changes show that clearly you need to register before claiming the airdrop.

Check Here:https://t.co/TJDebl5NqX

Now the base team is testing on base Sepolia before launching it on mainnet. This is the contract address team deployed for testing 👇

VerifyRegistry CA: 0x422cF0f188F8Bf9d93E2810CA429d1bB5cdd620d

SybilResistantAirdrop CA:
0x1Bef27589187431eAfE41F807f0bEF5679134f89

Check those CAs and codes on base Sepolia.

Don't forget to follow me. I will post more things about the registration process soon. Keep your notifications on 🛎️

[Forrét @forretevm]

@mikeinweb @UmarovMax codes

[Forrét @forretevm]

@SunzucceD_ @monad card

[Forrét @forretevm]

@Rushna71 @cryptunez some birds are excluded😂

[muar @muarmemuar]

Holding perp DEX tokens in 2026 is equivalent to holding CEX tokens in 2020.

$BNB FDV $1.32B in 2020 → $110B in 2021
$CRO FDV $2.45B in 2020 → $30B in 2021
$FTT FDV $500M in 2020 → $29B in 2021
$KCS FDV $120M in 2020 → $6B in 2021

Right now with perp DEXes:

$HYPE FDV $68B
aster-2:native FDV $5.3B
$LIT FDV $1.6B
@variational_io FDV odds on @Polymarket for $1B at 28%

I'm not a forecaster, but my targets for perp DEX tokens in 2026-2027 are:

$HYPE - more than $100B FDV
aster-2:native - more than $20B FDV
$VAR - more than $10B FDV
$LIT - more than $5B FDV

Most CEXes were founded in 2017-2018, and it took at least another 3 years for real mass adoption. You can clearly see when user inflow and mass adoption actually happened by looking at the parabolic moves in CEX tokens - it was 2021. That's when everything aligned: bull market + real product demand + the gambling meta that never dies.

The story with perp DEXes is very similar. The first serious player in the perp DEX space was @HyperliquidX in 2024. But on top of all the same factors that drove CEX tokens in 2021, there's an extra layer here: decentralization + the ability to trade without KYC. That's why insiders, whales, and anyone with serious money started paying close attention - they knew their accounts wouldn't get frozen over "suspicious" activity.

Right now the perp DEX meta is going through a rough patch because of the broader crypto bear market. Volumes have dropped hard on many platforms, and some have even announced they're shutting down.

But the bear market is actually a great litmus test. If a project survives the bear, it usually outperforms the most when the bull comes. Just look at BNB's FDV going from ~$1B in 2020 to $100B+ in 2021 in a single year - that's insane performance.

The perp DEX meta is in a very similar spot right now. A lot of teams are building unique ideas. The question is which ones will actually stick and become useful products for mass adoption, and which ones will remain irrelevant.

Hyperliquid / @Lighter_xyz / @Aster_DEX / @risextrade → classic Central Limit Order Book (CLOB) model
@variational_io → Request for Quote (RFQ) model
@bulktrade → classic CLOB but with a custom execution layer
@nadoHQ (@inkonchain) → hybrid CLOB (off-chain matching + on-chain settlement)
Superluminal (@slx_fi) → Dual Flow Batch Auction (DFBA) for faster and fairer execution

Almost every perp DEX has its own twist. Time will tell what actually gets adopted. What we already know for sure is that perp DEXes still have a lot of work to do - faster transactions, better slippage, deeper liquidity, and features that CEXes have but DEXes mostly don't (referral systems, more trading competitions, user acquisition bonuses, launchpads, staking rewards, etc.).

That's exactly why we're still early. I think current FDVs of perp DEX tokens are extremely low - and the Polymarket odds on projects that don't even have tokens yet are even more attractive.

Right now I'm most interested in the perp DEXes that go beyond the standard CLOB and bring something unique that can actually resonate with a lot of users in a bull market.

The classic CLOB space is already very crowded, and Hyperliquid is clearly winning it. @tradexyz only strengthens their dominance in the current tokenization hype.

I’m watching the ones with RFQ, DFBA, hybrid, and non-standard CLOB models - that's where my focus is.

Currently interested in: Variational, Nado, Bulk, Superluminal, RiseX

The real point isn't even farming points. It's being early in potential gems that can actually deliver strong performance in a bull market - which means significantly higher multiples. Through airdrops you can get these tokens at much lower valuations than where they might end up.

At Hyperliquid's TGE, 1 point was worth ~$25. Now it's worth ~$350.

Right now people are pricing points based on the current bear market and metrics on DeFiLlama, where these projects still lag behind Hyperliquid. But perp DEXes don't all need to compete directly with Hyperliquid. Just like in the top 10 CEXes - Binance, OKX, Bybit, Bitget, Gate, MEXC, BingX - they all coexist and do well on their own. The same will happen with perp DEXes: Hyperliquid, Aster, Variational, Lighter, Apex, Bulk, Superluminal, RiseX, etc.

You might think crypto is dying and there won't be anyone left to trade altcoins on perp DEXes. But with the current tokenization hype, you might not even need altcoins - you'll just trade RWA assets on perp DEXes the same way people used to trade alts on CEXes. That's why more and more perp DEXes are leaning into the RWA narrative (especially TradeXYZ and Variational). Crypto was literally built for tokenization. Clearing out all the useless garbage (Polkadot, Cardano, etc.) is actually healthy for the market.

That's why you can't always judge a perp DEX right after TGE. Sometimes it takes time for people to realize how useful the product actually is - and that realization eventually shows up in the token price.

[Forrét @forretevm]

@dlicom_IN Yesss

[Forrét @forretevm]

@OG_Branxi @tread_fi ahh only just for ondo?? righttt

[Forrét @forretevm]

@OG_Branxi @tread_fi no wayy ok then i need to do hand-clicking all orders😀

[Forrét @forretevm]

@Monu_HQ @monad

[Forrét @forretevm]

I collected 10k bob so far at @Monu_HQ on @monad

this season for $bob, left 4 more days, and they've turnout bonus which is the more days u draw, the more great rewards u get it.

ref 👇
https://t.co/agUttPTqjU

[Forrét @forretevm]

@MoJJo_V @OndoPerps @tread_fi haha okayy that looked like under 720p

[Forrét @forretevm]

@crshmarket Lfg! if i'm available to join atm i'll join too!

[Forrét @forretevm]

Wow, gold price went again up, while i forgot if i opened long on @OndoPerps completely.😅

[Forrét @forretevm]

@Ryuzaki_SEI @extendedapp @variational_io @OndoPerps @Salmanwastra

[Forrét @forretevm]

@culturecoconutt @mongang_xyz Thanks, ollie! 💜💜

[Forrét @forretevm]

achieved til wave 5 for now @mongang_xyz
this is satisfying!

[Forrét @forretevm]

@emil_pepil Looting for you!! 🙌 🌳
💗💗💗

[Forrét @forretevm]

I finally climbed to top 1 after trying of 20 playes, at this noon. hm but the game is not saved frequently if we let rest tab on for some much times(even tho it's just 30s~).
need to be this saving user's info saved more frequant than this interval.

[Forrét @forretevm]

@Salmanwastra @emil_pepil ❤️❤️❤️

[Forrét @forretevm]

Anyways, I liked the game. played consecutively for 2 hours now. Although I wanted the few more small improvements i felt, IMO. oh wait, right. there was frozen like it bit frequently. even if we went to main page,(auto refresh is needed after saving user's playing record)

[Forrét @forretevm]

for level-up, it's done at random timings.(tin while the game and after the waves, mixed.)