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Great week on @extendedapp Points in few hours, lets see how it goes!

my perpdex thesis (next wave) everyone is focused on the current leaders. and rightfully so. projects like extended, pacifica and variational are pushing the space forward and are likely heading toward strong TGE outcomes. but markets move in cycles. after successful launches, the market always starts looking for the next opportunity and attention always rotates to the next underpriced builders. that’s where the real asymmetric opportunities are. my two dark horses: → 01 Exchange @01Exchange * clean and capital-efficient perp trading design * steady growth in open interest and volume * building a venue for structured strategies * transparent team shipping consistently 01 has been quietly building and it is the type of project that suddenly becomes obvious right before everyone rushes in. → Perpl @perpltrade * flagship perps dex of monad * one of the most interesting upcoming perp dex designs * strong focus on trader experience and liquidity efficiency * positioned well for the next wave of perp innovation perps are far from a finished market if you know what you are doing first came the pioneers like Hyperliquid and Lighter now we’re seeing the next generation of specialized perpdexes emerge. after the success of extended and variational, don’t be surprised if the spotlight rotates to 01 and perpl. sometimes the best trades are the ones no one is paying attention to yet.

points update on @variational_io 45 points (13 from referrals) $350k volume $200k open interest collected ~$130 in funding, which basically made the points free. in a bear market, blindly chasing points can get expensive fast so better to keep costs low and stay disciplined. this is actually when the real opportunity shows up - less hype, less competition. on variational i’m running a delta-neutral setup with 01 @01Exchange and farming funding through arbitrage. slow but steady points today… tokens tomorrow. how many points did you get? omni.variational.io 12% points boost ref: OMNIGIVENO

Some of you may have noticed reduced volume on @DefiLlama for several exchanges, including @extendedapp This is due to a change where DefiLlama now represents only taker volume. This affects a number of exchanges, including Extended, as we have historically reported taker + maker volume. We’re comfortable with this change. However, we’ve also suggested that DefiLlama take additional steps: 1. Clean up wash / intra-spread volume across all exchanges they track. Example: if the best bid is $99k and the best ask is $100k, but a trade occurs at $99.5k, that’s an intra-spread trade, which often indicates wash trading (see image, [REDACTED] exchange which currently fakes their volume the same way) 2. Remove exchanges whose reported volume cannot be independently verified. When building Extended, the team chose to report taker + maker volume because exchanges earn fees on both sides of a trade, so both sides reflect real activity. Some other exchanges also report volume this way. At the same time, our taker trade stream has always shown only a single trade, and we’ve never hidden that. We hope DefiLlama takes these steps to make the data they publish more reliable and useful.