Perps started in crypto, but they are proving useful far beyond it. Injective supports perpetual markets tied to equities, commodities, foreign exchange, indices, and private companies. Each market can use a reliable price feed and settle through the same fully onchain orderbook. You should not need to build a new exchange every time you bring a new asset class online. That flexibility is what makes perps such a powerful market primitive.

Perps have grown up. The next wave of products is built around how people actually trade. @FX100Perp is a perp trading DEX with a 15-minute liquidation-protection window. Live on @base Sepolia testnet. @protocol_fx $FXN

Perps have grown up. The next wave of products is built around how people actually trade. FX100 is a perp trading DEX with a 15-minute liquidation-protection window. Live on @base Sepolia testnet.

Perps is such a great on-chain business! No, it's not. Hyperliquid 24h revenue: $1M Total revenue of all memecoin products: ~$2.9M What's bigger, Bloomberg or Instagram? The product with millions of users always beats the one with a few high-paying ones.

Perps on pre-IPO companies like OpenAI, SpaceX and Anthropic are pulling real volume onchain, and almost no one is tracking it. When SpaceX launched on pre-IPO perp volume spiked to $56M in a single day. Our latest research maps the non-crypto perp market onchain: what's trading, the volumes, and where it's heading. Read the full report: