We'll be in Seoul for KBW all week. Join us at our events or DM to connect: Sep 29: Seoul Index | Cheongdam → Oct 1: PerpDex Night | Gangnam (SJ Kunsthalle) → See you there.

Latency arms races end at the SVP book. Batch-auction matching means the fill is the interval price — not whoever cancelled 2ms faster. Humans and bots hit the same print. That’s the point of a perp DEX built into the chain, not bolted onto a sequencer. #SVPChain# #PerpDEX# #FairTrading#

SVP Chain is a native on-chain CLOB. Orders rest on the book. Matching is batch-auctioned. Mark, funding, and liquidations use consensus prices.1-second finality. Same print for every fill in the interval. Fund the wallet first: #SVPChain# #PerpDEX# #CLOB#

Here is a YouTube video from a Philippines-based KOL @InsaneonCrypto walking through a SunX tutorial and sharing his personal trading experience. Honestly, it means a lot to see someone take the time to create such a detailed guide and share their honest thoughts. Crypto can be intimidating, especially for newcomers—connecting a wallet alone can be a barrier. Tutorials like this are incredibly valuable in lowering that barrier and helping more users understand what we're building. On that note: SunX is gradually expanding our global presence. We want more users from different countries and backgrounds to discover what we offer—and more importantly, to give us real, honest feedback. That's how we make the product better. We also welcome KOLs from all over the world to connect with us. No matter which country you're from or which language you speak, if you're passionate about crypto and trading, we'd love to hear from you. Crypto knows no borders—and we hope SunX can be a choice for more people everywhere. #SunX# #perpdex#

We are excited to announce our official partnership with @paywithmana 🤝 manadia is a next-generation data settlement and AI coordination infrastructure backed by $7M in funding, including OKX Ventures, and recently listed on Kraken, Bitget, and MEXC. Together, we’re accelerating AI-powered DeFi with secure infrastructure and seamless on-chain perpetual trading. #Bullbit# #manadia# #PerpDEX# #Base# #DeFi# #AI#

Three signals in the perp space are playing out with real numbers. Signal 1: Prediction markets and perpetuals are converging. In late April, two leading prediction platforms announced perpetual futures on the same day. Meanwhile, on-chain exchanges added prediction market primitives to their matching engines. This isn't two industries anymore—it's one unified trading layer. Prediction market volume already exceeds $21B monthly. Add leverage and 24/7 liquidity, and the combined use case changes everything. Signal 2: On-chain position transparency has shifted from "feature" to "standard." On-chain perp volume hit $6.7 trillion in 2025, up 346% YoY. While centralized venues saw open interest drop 20.8%, on-chain OI surged 229.6%. Capital is voting with its feet—not for more leverage, but for verifiable, auditable positions where margin sits in smart contracts, not on corporate balance sheets. Signal 3: High-performance chain derivatives ecosystems are exploding. One leading chain processed $65B in perp volume in a single month last October. Its aggregator's perpetual product alone handled $250B+ in annual volume. New block-assembly infrastructure now enables on-chain orderbook quality that rivals traditional venues, with multiple native perp protocols launching this year. This isn't one product winning. It's microstructural evolution. Three signals, one direction: trading infrastructure is evolving from fragmented tools into a unified, transparent, 24/7 market layer. This is why @SunX_DEX built for 24/7 multi-asset perpetuals from day one. Not because the wind shifted, but because the foundation was poured in this direction. Convergence, transparency, high-performance derivatives—these aren't 2026 revelations. They were architectural assumptions from the start. Now the market is validating them. The next step is letting the product speak in numbers. #PerpDex# #SunX#

Transparency is core to our mission. On December 11th, a targeted exploit compromised one of our reward contracts. We’re sharing what happened, what we’ve done to fix it, and how we’re making 0G stronger moving forward. An attacker exploited the emergency Withdraw function of our 0G reward contract, used to distribute alignment rewards, and stole 520,010 $0G tokens, which were later bridged and dispersed via Tornado Cash. Root Cause: The attacker accessed a leaked private key from an AliCloud instance. That instance managed NFT status and reward updates, and unfortunately, stored the private key locally, a practice we now know must never happen again. Further Findings: Investigation revealed a broader breach. Multiple AliCloud instances were compromised due to a critical Next.js vulnerability (CVE-2025-66478) exploited on Dec 5. The attacker moved laterally via internal IPs, affecting: → Alignment service → Validator node → Gravity NFT service → Node sale service → Compute, Aiverse, Perpdex, Ascend → …and more. Total confirmed losses: → 520,010 $0G → 9.93 ETH → $4.2K USDT No core chain infrastructure or user funds were affected beyond the reward distribution contract. Actions Taken Immediately: → Revoked and rotated all compromised keys → Purchased & deployed enhanced AliCloud Firewall + Security Suite → Shutdown and rebuilt affected services → Patched critical dependencies (including Next.js) → Removed all plaintext private keys from all instances What’s Next? Our Path Forward → All key-bearing services will be migrated to TEE (Trusted Execution Environments) → Contract permissions will be hardened; only multi-sig wallets will manage critical funds → Alerting pipelines will integrate with TG & Slack → Cloud access will follow least privilege by default → Contract balances will have automatic alert thresholds Security is not a checkbox; it’s a process. This was a painful but necessary wake-up call. We’ve taken responsibility, and we are now embedding zero-trust principles into every part of 0G. To our community: thank you for your support. Your trust is everything. This event will not define us; how we respond will. We’re not just building the future of decentralized AI. We’re building it securely. - The 0G Foundation Team. Block explorer: Postmortem coming soon.

Perp DEX volume is becoming a weaker way to judge market depth. A venue can process billions of dollars in a day without keeping much risk open once those trades are done. That is why open interest matters. @HyperliquidX, for example, recorded roughly $5.67B in 24-hour volume against $8.30B in open interest. That works out to just 0.68x turnover. The number is interesting because it shows that Hyperliquid is not simply recycling the same capital at high speed. A large amount of leveraged inventory is actually remaining on the venue. This makes turnover a useful second lens for understanding perp markets. — ● Turnover shows how quickly open positions are being recycled The calculation is simple: 24-hour volume ÷ open interest = turnover Across major venues, the differences are significant. • @HyperliquidX: $5.67B / $8.30B = 0.68x • @Aster_DEX: $2.39B / $1.43B = 1.68x • @Lighter_xyz: $1.11B / $650M = 1.72x • @edgeX_exchange: $1.04B / $650M = 1.60x • @variational_io: $2.12B / $940M = 2.26x • @Polymarket: $80M / $60M = 1.31x • @Kalshi: $470M / $30M = 18.96x A lower ratio generally means more open risk is sitting on the venue relative to the amount being traded each day. A higher ratio means the same pool of open interest is turning over much more quickly. Neither is automatically better. The ratio simply tells you how aggressively a venue is recycling its inventory. — ● Volume share and positioning share can tell very different stories Hyperliquid makes this especially clear. It processed roughly $210–239B in 30-day volume and accounted for around 39% of tracked perp-DEX volume. At the same time, it held roughly 59% of tracked open interest and that gap matters. Volume measures the flow passing through the market. Open interest measures the leveraged positions that remain after the trading is done. So a venue can have a smaller share of total volume while holding a much larger share of the market’s outstanding risk. In simple terms: Volume shows what traded. Open interest shows where the risk stayed. — ● The same turnover ratio can still represent very different markets Turnover is useful, but it should not be read without understanding how each venue actually works. • @HyperliquidX uses an onchain CLOB with unified margin and HLP liquidity. • @Lighter_xyz uses offchain matching with ZK proofs and Ethereum settlement. • @edgeX_exchange combines an offchain CLOB with STARK-based settlement and expanding RWA markets. • @Aster_DEX uses a broader architecture across its Pro CLOB, ALP and Shield products. • @variational_io operates through an RFQ model where the OLP acts as a major source of liquidity. • @Polymarket and @Kalshi introduce another complication because event contracts behave very differently from perpetual futures. Their positions eventually resolve and disappear rather than remaining indefinitely as rolling leveraged exposure. So turnover is best used as a market-structure metric, not as a universal ranking of venue quality. — ● The metric also breaks down when the inputs are inconsistent There are several traps. • The first is product mix. Event markets, crypto perpetuals and RWA perps do not create the same type of open interest. • The second is data quality. Using volume from one dashboard and open interest from another can create misleading ratios if the methodology or cutoff time differs. • The third is timeframe. A single 24-hour period can be distorted by volatility, liquidations, market events or incentive campaigns. Seven-day and 30-day turnover are usually much more useful for understanding persistent behaviour. • The fourth is incentives. Zero-fee trading, points and token rewards can dramatically increase volume without producing the same increase in residual positioning. That is exactly why headline volume needs context. — ● RWA perps make this even more important Perpetual markets are now expanding beyond crypto. HIP-3, Aster, Variational and others are pushing perp infrastructure into stocks, commodities and long-tail financial assets. That introduces a different set of risks. • The perp may trade 24/7 even when the underlying equity does not. • Oracle pricing becomes more important. • Underlying liquidity can disappear outside traditional market hours. • Corporate actions and fragmented reference markets can create additional complexity. So as perp DEXs expand into RWAs, market quality cannot be reduced to the amount of volume printed on a dashboard. The structure supporting that volume matters more. — ● Token incentives can distort the picture too The same caution applies when looking at $HYPE, $ASTER, $EDGE, $LIT and other ecosystem tokens. Points, emissions and token incentives can attract traders and boost activity. But high token value or high incentivized volume does not automatically mean the venue has deep organic positioning. The stronger signal is whether incentives translate into: • Persistent open interest • Repeat traders • Sustainable fees • Deep liquidity • Durable market share Tokenomics should therefore be read alongside volume and open interest, not used as a substitute for them. — Perp DEXs are reaching a stage where headline volume alone is no longer enough. Two venues can both process billions of dollars and still have completely different underlying markets. • One may be recycling positions quickly. • Another may be holding much more persistent leveraged inventory. That is why open interest, turnover, fees and trade structure increasingly need to be read together. Volume tells you how busy the venue is while Open interest tells you how much risk remains. Turnover connects the two. And that combination gives a much clearer picture of whether activity is actually translating into durable positioning.