The Paradex, Lighter and edgeX TGEs left a bad taste in some people's mouth so can totally understand here as far as Monad, there's been a few interesting things that @category_xyz has been cooking under the radar so here's a few comments 1. Block times are going from 400 ms -> 300 ms (no longer at parity with Solana, fastest general purpose now) w/ indications that we may go to 200 ms (which is the same E2E median latency that HL describes on their docs). 2. Even though mempools are already local (thereby constraining the MEV surface), they're working on adding a fully encrypted mempool (BTX). Long and the short of that is that @perpltrade will be able to do encrypted orderflow soon. 3. TVL went very quickly from 50->100 bucks around mainnet launch. Chain is ~350 now with the peak around 450 bucks. I prefer to see a slower and more consistent CAGR there than what we saw with Plasma/Stable etc. Keep in mind this in a bear market with BTC halved and potentially going lower. 4. Every new L1 is a zombie chain until demonstrated otherwise. Monad has a clear purpose: pushing EVM forward. As someone trying to build a smart contracts native to the virtual machine with no offchain components, there are a slew of things we are only able to do on Monad that are either impossible, computationally infeasible or cost prohibitive anywhere else onchain. EVM fundamentally has the biggest TAM and the Ethereum Foundation is absolutely asleep at the wheel. EVM to DeFi is like Linux to computing.

At a high level, Phoenix is to the SVM what Perpl is to the EVM. Key difference is that Perpl is a true CLOB with onchain matching that respects price-time priority, while Phoenix isn't. You can't build an on-chain matching engine on the SVM because it doesn't support that. In the SVM, you need to know the accounts involved in the transaction beforehand. However, you don't know the accounts you're being matched against beforehand on an orderbook. Therefore, you cannot build true on-chain matching on SVM (anybody can place limit orders, matching happening in a smart contract, no cranking, no splines etc). Also, despite being fully on-chain, Perpl's CLOB is just as granular as Hyperliquid or any of the appchains. The way we do that is: > extreme gas optimisation (100k gas for a post cancel on Perpl, a swap on Uniswap is 200k gas for ref) > innovating "change" order, a fully stateless order type, so it's extremely gas optimized, 60k gas for changing price/tif/size. Additionally, since it does not require any state changes, it's the only order type that leverages the monad's asynchronous execution (see perplfoundation.github.io/ex…) And there are so many more innovations coming up still that will further prove this point (hybrid margin, portfolio margin, encrypted order flow, faster blocks etc) Perpl is the one true on-chain CLOB.

Building Perpl fully onchain on a decentralized L1 is a deeply autistic process, never been done before that I'm extremely proud of achieving. The reason everyone else chose to take shortcuts is that perps are hot, and everyone rushes for a piece of the pie, optimising for short term success. If you look at all the difficulties that Perpl is facing by taking the long road, you could argue it's not worth the effort. At Perpl, time and time again, we were forced to move more slowly and be more risk-averse. We had to adjust every little thing to become extremely gas efficient to be able to offer a top trading experience on a gp L1. We had to pay millions of dollars for audits to make sure that every line of our 100% novel and custom code is secure. At Perpl, if something goes wrong, we can't just roll back things, like Hyperliquid or Paradex. We have to slowroll new listings, leverage, deposit caps, etc. Decentralization is a double edged sword. However I am 100% sure we made the right call. Because being the only fully onchain decentralized perp dex on the EVM, means we have the best long term game out of every other perp dex out there. We scale better. We are perfectly built for institutions. We are optimised for AI. We are fully transparent. We have the largest collateral TAM. We compose seamlessly with every major evm protocol. > We are not ok with being just another perp DEX. > We are here to compete with Hyperliquid. > We are aiming for the top. After all, to achieve something that has never been done before, you have to do something that has never been done before. Launching our points campaign is an important milestone for us because it marks day 1 of our growth stage. Looking forward to showing you what's next. Slowly at first, then all at once. Perpl.

Building Perpl fully onchain on a decentralized L1 is a deeply autistic process, never been done before that I'm extremely proud of achieving. The reason everyone else chose to take shortcuts is that perps are hot, and everyone rushes for a piece of the pie, optimising for short term success. If you look at all the difficulties that Perpl is facing by taking the long road, you could argue it's not worth the effort. At Perpl, time and time again, we were forced to move more slowly and be more risk-averse. We had to adjust every little thing to become extremely gas efficient to be able to offer a top trading experience on a gp L1. We had to pay millions of dollars for audits to make sure that every line of our 100% novel and custom code is secure. At Perpl, if something goes wrong, we can't just roll back things, like Hyperliquid or Paradex. We have to slowroll new listings, leverage, deposit caps, etc. Decentralization is a double edged sword. However I am 100% sure we made the right call. Because being the only fully onchain decentralized perp dex on the EVM, means we have the best long term game out of every other perp dex out there. We scale better. We are perfectly built for institutions. We are optimised for AI. We are fully transparent. We have the largest collateral TAM. We compose seamlessly with every major evm protocol. > We are not ok with being just another perp DEX. > We are here to compete with Hyperliquid. > We are aiming for the top. After all, to achieve something that has never been done before, you have to do something that has never been done before. Launching our points campaign is an important milestone for us because it marks day 1 of our growth stage. Looking forward to showing you what's next. Slowly at first, then all at once. Perpl.

i think you should check out @perpltrade

MIP-12 - reduce Monad block times by decreasing the vote pacing from 400ms to 300ms - has been published by @category_xyz The vote pacing determines the min block time. Reducing it allows the network to proceed faster if quorum has been achieved The tech has already supported this improvement, but mainnet launched with an extra buffer. With this change and others, you’ll see the network continue to harden and streamline

MIP-12 - reduce Monad block times by decreasing the vote pacing from 400ms to 300ms - has been published by @category_xyz The vote pacing determines the min block time. Reducing it allows the network to proceed faster if quorum has been achieved The tech has already supported this improvement, but mainnet launched with an extra buffer. With this change and others, you’ll see the network continue to harden and streamline