PERP DEX is not just a simple meta. While using ASTER, edgeX, Backpack, and Basedapp, I wondered, "Is it just a project dreaming of being the second Hyperliquid?" However, after deeply contemplating PERP DEX recently, I have now reached the conclusion that PERP DEX is definitely the most profitable product among Web3 projects. According to DefiLlama data, Tether and Circle occupy the 1st and 2nd places, followed by Hyperliquid and edgeX. The revenue metrics are particularly impressive, with edgeX recording approximately $1.26 million in 24 hours and about $32.04 million over 30 days. This means that while other large projects gather funds through funding, edgeX is generating actual revenue. Considering that OpenSea, which is currently running a treasure chest event, has only $47,000 in 24-hour revenue, we can see how powerful a cash cow PERP DEX is. PERP DEX may appear to be an airdrop operation on the surface, but it is essentially a token sale. The earlier you participate, the lower the sale price you can enter at, and the later you join, the higher the price you will have to pay. This structure has been used for a long time, and PERP DEX is likely to remain a major issue in the market for the foreseeable future. Of course, since these are estimates from DefiLlama, there may be dApps that generate even more revenue. However, it is clear that Perp Dex records revenue dozens of times higher than layer projects like Ethereum, Solana, and Base. Therefore, I believe it is one of the few blockchain dApps that can consistently generate revenue like @Hyperliquid and @Aster_DEX even after TGE.