Justin

founder @vestexchange

contributor @

[Justin @perpv2]

Most exchanges are designed to fail from day one.

Exchanges don’t control their own liquidity. Instead, they outsource pricing to third-party market makers—firms with no loyalty to the exchange and every incentive to do what’s best for them: when volatility hits, they pull liquidity, widen spreads, and let traders eat the cost. Traders get liquidated by bullshit scam wicks, they leave, and the exchange slowly dies.

The only way to win is to be your own market maker.
FTX had Alameda.
Hyperliquid has Chameleon / HLP.
Binance had Merit Peak and Sigma Chain—firms secretly controlled by CZ, who got sued by the SEC for trading against Binance users.

This raises ethical concerns. If the exchange needs to trade against their users, how do traders know they’re getting fair execution? The exchange sets the prices, decides when liquidity is available, and who gets liquidated. If they want to tighten spreads to attract volume, they can. If they want to widen them to extract more from traders, they can.

Below is a SOL visualization of a very popular orderbook exchange that has an internal MM...
They are the judge, jury, and executioner. They are the house, and the house always win.

The future of exchanges will break this tradeoff - ones that combine cutting-edge market making with provable guarantees of fair pricing. Liquidity will be always be ensured for traders without reliance on parties who have conflicts of interest of them.

We're building this at Vest.

[Justin @perpv2]

@BrianInCrypto @VestExchange @OptiverGlobal @citsecurities yeah, they work at vest

[Justin @perpv2]

The Vest market making vault captures basis differentials and funding rate arbitrage between on-chain equity perps and the NASDAQ, NYSE, and CME.

The strategy is run by the lead trading teams directly from @OptiverGlobal and @CitSecurities, predicated on decades of market-making equity options, and directly applying those same strategies to a new asset class.

~55% annualized. 4.71 Sharpe.

[Justin @perpv2]

@Armv7lFx @OptiverGlobal @citsecurities No, we recently updated our accounting to be real-time across all of our hedging venues. Before it was async and independent. We've been positive for the year.

[Justin @perpv2]

@ilyessghz2 @QFEX any chance we can get vest markets on this dashboard?

[BIG ZHAYNN 🔥🚀 @0xzhaynn]

I DID IT!!! 😭🔥
Just passed my $25,000 funded account!!!

From small wins… to losses… to discipline… to staying consistent… it finally paid off 😭❤️

No luck, No gambling; Just pure patience and sticking to the plan 👌

This is just the beginning… first payout next 💰‼️

[Justin @perpv2]

@ncs1912 quant devs, bd, ops, frontend / backend engineers, roles all across the stack

[Justin @perpv2]

We are actively hiring on all fronts. If you were affected by the recent crypto layoffs, we'd love to have you! Please send me a DM.

[Frank Chaparro @fintechfrank]

Layoffs are hitting crypto:

• Algorand: 25%
• Crypto dot com: -12% workforce
• Op Labs: ~20 roles
• Gemini: up to 30% (per Bloomberg)
• Messari: leadership shakeup + cuts

[Justin @perpv2]

@RealTradingTool @HouseofChimera @VestExchange in the roadmap sir

[Stock Snipa @stocksnipa]

Thank You for 42K Followers!❤️

You guys are the best, I’m going to Giveaway 20 X $10K Funded Perpetual Futures Accounts from Vest Markets

To Enter:

Like & Retweet this Post♻️

Follow: @VestExchange @stocksnipa @SmallCapSnipa

[Justin @perpv2]

Excited to talk about equity perps and 24/7 markets!

[House of Chimera @HouseofChimera]

Let's explore what @VestExchange is building with @perpv2 tomorrow at 5 pm UTC.

🔹 The first 24/7 futures trading platform
🔸 Offering perpetual features up to 50x leverage.
🔹 Recently introduced Vest Capital, a funded account program that lets you trade with capital and no personal deposit needed

Don't miss this: https://t.co/yk5z1S2xWs

[Stock Snipa @stocksnipa]

🎄MERRY CHRISTMAS GIVEAWAY🎄

I’M GIVING AWAY 25 x $10K FUNDED ACCOUNT GIVEAWAY CODES

Powered by Vest Capital, a Perpetual Futures Platform to Trade Stocks, Cryptos, & Commodities with Leverage

To Enter:
1️⃣ Like and Retweet This Post
2️⃣ Follow @VestExchange @StockSnipa @SmallCapSnipa

Winners Announced 1/1/2026

[Vest @VestExchange]

$MDLN ( @Medline ) is now available for 24/7 leveraged trading on Vest Markets with up to 5x leverage.

Launched on the same day as its NASDAQ IPO, you can now trade it long or short.

Get started with just an email, no KYC required.

[Justin @perpv2]

@XtineFang For tokenized stocks, global accessibility, 24/7 trading, capital efficiency / composability

[Justin @perpv2]

Great thread on the early equity perps landscape.

What's happening now mirrors the moment BitMex launched the first perp in 2016, but this time in an industry that is 1000x larger than crypto.

Equity perps will be the most traded derivative in the world by 2030.

[shaunda devens @shaundadevens]

1/ US options hit $89T notional in September, dwarfing crypto futures ($1.2T). In SPX, 61% of volume is 0DTE and retail is >50% of that flow, bleeding out in toxic auctions and theta decay

With incumbents blocked by regulation, is DeFi the solution?

Breaking down Equity perps:

[Justin @perpv2]

@maruushae https://t.co/Sp6vOrR8RE

[Justin @perpv2]

The overnight LP drawdown was caused by an internal risk configuration error. When we list new markets, we manually add certain risk params. For one of the markets ($LYFT), the risk params were mistakenly set far higher than intended. As a result, the risk engine overreacted and applied extreme slippage and funding, which drove abnormal price movements and allowed two traders to profit irregularly.

All parties, including LPs, have been fully made whole. Moving forward, we’re standardizing and automating param checks, and enforcing risk caps that limit how much any single market can move LP pnl before auto-circuit breaking.

[Justin @perpv2]

The overnight LP drawdown was caused by an internal risk configuration error. When we list new markets, we manually add certain risk params. For one of the markets ($LYFT), the risk params were mistakenly set far higher than intended. As a result, the risk engine overreacted and applied extreme slippage and funding, which drove abnormal price movements and allowed two traders to profit irregularly.

All parties, including LPs, have been fully made whole. Moving forward, we’re standardizing and automating param checks, and enforcing risk caps that limit how much any single market can move LP pnl before auto-circuit breaking.

[Marusha @maruushae]

Vest markets getting rekt

[Justin @perpv2]

@Hermes_0x @HyperliquidX @VestExchange Thanks for the kind words! @Hermes_0x if you run into any issues or have any feedback you can dm me on tg @perpv2.

You can also deposit usdc on the majority of evm chains (eth, arb, poly) as well as Solana (via Phantom).

[Flow God @FL0WG0D]

🚨 $5,000 FUNDED ACCOUNT GIVEAWAY 🚨
@VestExchange is giving away a fully funded $5K prop account — trade live, keep up to 90% profits.

TO ENTER:
1️⃣ LIKE this post
2️⃣ SIGN UP using this link https://t.co/PRGUDPybwG (Just your email — nothing else)
*Must complete signup BEFORE giveaway ends — we’ll verify*

Winner picked on Monday (I'll DM on X)
No deposit. No KYC. Just email → funded.

[KJ Crypto @koreanjewcrypto]

opened a $rivn long on vest

was pretty quick to set up the account so far so good worth a shot if u wanna mess around with stonks

https://t.co/2zySeWsZMs

[Flow God @FL0WG0D]

The future…. you are missing out if you don’t check this out.