2 projects with potential hidden points programs that i'm focusing on right now: @tradexyz don't tell me you haven't heard of them. they've basically captured the entire RWA trading volume narrative. the team is closely connected to Hyperliquid, and so far there's not even the slightest hint of a points program. that's exactly why I like it. > no farmers. > no referral race. > no obvious way to farm. @risextrade still very early. they've raised $9.2M and are already doing $40–60M in daily volume. hidden points are essentially confirmed they're currently giving out 1 code for every $600k in referred volume. they also recently wrapped up their OG challenge, where traders competed for 25 OG spots. for context, @variational_io allocated 33% of its entire points pool to early traders once the points program went live. that's why i believe even minimal activity on projects like these could pay off very well in the future.

AURA distribution from bulk just dropped. time to check it. if you're looking for a place to park your USDC and farm points, @bulktrade remains one of the more attractive opportunities right now. AURAmaxxing szn.

volume on @01exchange has dropped noticeably in recent weeks. just a month ago, daily volume was stable around $15-25M. now, we're increasingly seeing days at $6-8M, which represents a drop of approximately 3-4 times. it seems this is directly related to the start of the final stage of the Public Mainnet Beta. point distribution has been cut almost in half, and some farmers who came exclusively for points have simply reduced their activity or left. it will be interesting to see where a new equilibrium in volumes emerges before the program ends.

right now there are so many perp-dexes that you can’t even count them on your fingers. here’s what i’m mainly focused on right now: S-tier (priority) @variational_io - $60M raise, ~$20 per point on OTC, ~700 FDV on the pre-market right now @tradexyz - potential $UNIT airdrop possible use @unitxyz bridge for airdrop A-tier (mid priority) @01Exchange - entering the final stage of Public Mainnet Beta @risextrade - early stage, possible hidden point farming opportunity @OndoPerps - just launched, 12-week usdc rewards @cascade_xyz - early stage, it won't be a mistake to make the volume @pacifica_fi - very nice to farm points right now, potential airdrop in Q3-Q4 @hibachi_xyz - if they had launched in late 2026, it would’ve been great, point price ~$0.3–0.5 B-tier (additional) @Dreamcash @CarbonTerminal @tradehotstuff @extendedapp C-tier (skip) @DecibelTrade @dango @sodex_official @etherealdex @Ostium @reya_xyz @grvt_io

weekly update @bulktrade > a week ago: 4,211 unique wallets > today: 9,392 unique wallets that's a 123% increase in just one week. the majority of participants are still in the $100–$500 range: > last week: 2,000 wallets (47.49%) > this week: 4,734 wallets (50.40%) larger deposits have also grown significantly: > $1k–$5k: 662 → 1,414 > $5k–$50k: 302 → 671 saturday's distribution could be the catalyst that drives participation even higher.

my main bets for this year: @variational_io around 3 months of farming left. recently raised $60M. points are trading OTC at roughly $15–20 each. farming isn't easy anymore, but long-term participants have already developed their own strategies. @01Exchange the final 12-week Public Mainnet Beta phase has begun. compared to Alpha, point emissions have been cut in half. farming should wrap up around september-october. @pacifica_fi one of the oldest players on this list. i expect farming to end around week 50, which could put the launch sometime in the fall. @bulktrade only the first week of the pre-deposit season has passed. you can simply park your stables and earn AURA. TVL is still only around $27M. the team promises to launch before GTA 6.

18 week points of @01Exchange are finally in! > week 18: 16.45 points > total: 615.351 points this marks the end of the Public Mainnet Alpha phase. now we move into the final Public Mainnet Beta stage, where point emissions have been cut roughly in half. at this point, I think most people who wanted to farm have already positioned themselves, and their cost per point is probably quite low. let's see what happens.

the @bulktrade is already approaching $20M in pre-deposit campaign. and this is despite the fact that AURA hasn't even been distributed in the first week. it will be interesting to see how quickly the TVL grows after the initial distribution. we're looking forward to saturday

i’ve compiled wallet statistics for the @bulktrade pre-deposit season. here’s what it looks like: - 1 - 50: 684 wallets (16.24%) - 50 - 100: 148 wallets (3.51%) - 100 - 500: 2,000 wallets (47.49%) - 500 - 1,000: 372 wallets (8.83%) - 1,000 - 5,000: 662 wallets (15.72%) - 5,000 - 50,000: 302 wallets (7.17%) - 50,000 - 250,000: 35 wallets (0.83%) - 250,000 - 500,000: 3 wallets (0.07%) - 500,000 - 10,000,000: 5 wallets (0.12%) unique wallets: 4,211 and this is only two days after the campaign launch. the first aura distribution is this saturday. gBulk

points of @01Exchange have been distributed for week 17. not a huge week, but every point counts. - week 17: 13.76 points - total: 598.902 points we're now in the final week, 18, of Public Mainnet Alpha, where 296,875 points are distributed weekly. next, the 12-week Public Mainnet Beta will begin, and the weekly emission will decrease by approximately 45-50% - to 156,250 points. we're finishing Alpha and preparing for the next stage.

my 2026 perp-DEX watchlist: > @variational_io > @bulktrade > @tradexyz > @01Exchange > @pacifica_fi just the projects i'm most excited to see compete for liquidity, traders, and market share.

it's time to @bulktrade season 1 30% airdrop is confirmed it will be released earlier than GTA 6 (at least that's what we were told) time to farm AURAmaxxing

RISEx just launched one of the most interesting trading challenge. no registration need. just 14 days of pure competition: > top 10 by volume > top 10 by OI > top 5 by ROI only 25 people will earn OG status. this is where real traders on @risextrade separate themselves from the crowd.

finally claimed my referral points @01Exchange maybe not as crazy as some of the screenshots on CT, but progress is progress. slowly building, staying consistent, and pushing harder every week. now waiting for week 16 distribution, it was supposed to arrive on tuesday, but i guess we keep waitin

something is brewing next monday👀 mainnet soon…

CT loves showing off huge point balances and talking about how skilled they are as traders. but a lot of the time, most of those points are just coming from referrals - not actual trading. many «top farmers» are really farming their audience, not the markets.

bullish early perpdex list: @bulktrade @risextrade @jtx_trade @papertrade_xyz @novadotmarkets