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Perpetual DEX track has been especially hot recently, with many traders watching projects like $LIT, $ASTER, and $GMX. Let me take GMX's data as a benchmark — its market cap is only 85M right now, but the 24-hour trading volume has already surpassed 200M+, and the open interest has reached 238M, with this number still on the rise. The growth momentum is quite evident.
Interestingly, GMX's revenue model is very straightforward — all profits are distributed in real-time to stakers and LP providers. This level of transparency has indeed attracted many participants. Looking at the treasury, there are also 37M in reserves, leaving plenty of ammunition for future development.
From the team’s actions, they plan to complete multi-chain deployment by 2025, which can significantly expand liquidity and user base. Currently, trading volume and positions are accelerating growth, and for an established on-chain contract platform, this re-ignition signal is already very clear. Based on this growth trajectory, breaking the 1B market cap is really not a dream.