#PerpDEXRace The PerpDEX race is heating up as decentralized perpetual exchanges compete for dominance in trading volume, liquidity, and user adoption. Platforms like dYdX, GMX, Hyperliquid, Aevo, and Vertex are innovating with lower fees, deeper liquidity, faster execution, and improved UX. Incentive programs, airdrops, and trader rewards are driving short-term growth, while long-term winners will depend on capital efficiency, risk management, and sustainable tokenomics. As centralized exchanges face regulatory pressure, PerpDEXs are capturing more market share. The race is no longer just about volume, but about building resilient, trader-first infrastructure for the next phase of on-chain derivatives growth.