Aptos has been rolling out one blockbuster product after another this year. Shelby, which is in the decentralized storage space, has just started operations, and now it's entering the Perp space. Yesterday, I chatted with Brother Biscuit about future industry opportunities. He is currently ALL IN on backpacks and believes that trading is the big opportunity of the future. Right now, Hyperliquid has made this space very hot, and one by one, the top players are starting to get involved to grab a piece of the pie. Currently, I’m participating in so many Perps that I can’t even count them on one hand. The more you get involved, the more you think about it. Now, @Aptos is working on @DecibelTrade, which is still in the beta registration phase, but the current white paper is too simplistic and doesn’t have any mind-blowing points. Taking this opportunity, I’d like to discuss what kind of Perp can emerge from a user’s perspective. From a user’s standpoint, the core logic of using Perps is: making money. I don’t believe anyone uses contracts just to get liquidated or to waste money. In the current market, money-making users can be divided into two categories. The first category consists of those who can manipulate candlesticks at will, while the second category is purely the big players. As a die-hard Aptos fan, I’d like to offer a few suggestions. I think Decibel has a chance if it can achieve breakthroughs in a few directions in the future. 1. Product No matter how you slice it, Perps are competing for the CEX market, and CEX products have already set a high bar for user education over the years. For example, I’m used to charging USDT and running around mainstream EVM chains, but BP doesn’t even support ARB chains, which has locked up funds. So in the eyes of users, it’s garbage, and they won’t use it again! Hyperliquid can actually attract more users because many people are now accustomed to using apps rather than websites, making it difficult for these users to become Hyperliquid users. 2. Earnings Since users looking for earnings can be divided into two categories, we need to discuss them separately. The first category is airdrop users. I believe airdrops are a very effective way to drive traffic to projects, and users who participate in airdrops have a high probability of becoming loyal fans of the project. Hyperliquid has done very well in this regard, with a grand vision and excellent operations attracting countless fans. In this respect, Aster is a counterexample. Under CZ's full-force empowerment, it ended up turning many user fans into detractors, primarily due to over-consuming user trust and expectations. The second category is trading users. Whether trading users enjoy themselves or not hinges on whether the product is user-friendly and whether the pool depth is sufficient. If these two points are well addressed, other underlying technologies can be acceptable. Making trading users feel good about participating is crucial, and the products on the market are showcasing their strengths: (1) lighter offers retail investors zero fees (2) standX uses its own issued stablecoin for contracts, which can also earn 4% annualized (3) edgeX uses institutional-grade strategy vaults to let users operate idle funds Every time I talk to project teams, I always ask, what’s your unique selling point? What attracts me? So if Decibel wants to enter this market, what’s the unique point? Aptos's speed can outperform the public chains that the above products rely on, and on-chain costs are cheaper. So if someone wants to incubate a Perp right now, I think the product should be built to CEX standards, designed with more user-attractive features based on high performance and low cost. This way, customer acquisition will have a greater chance; otherwise, the homogenization is too severe!