In the perpetual futures DEX arena, everyone is constantly competing over whether the transaction fees are low, whether the trading is fast, and whether the mining rewards are attractive—basically just keeping an eye on the data displayed on those dashboards.

But here's the thing nobody talks about: The real moat is not at all on these superficial indicators.

It's about the chain culture you're building on top of. Choosing which chain to build your product on, the community atmosphere of that chain, the meme propagation ability, and user stickiness—these invisible factors are the ones that determine life and death.

Take certain meme-driven protocols for example. They don't try to force traditional financial logic into the meme market. Instead, they let the community's natural vibe shape how traders actually behave. That organic fit? That's where the real alpha lives.

When the underlying chain already has that cultural momentum, your DEX isn't just another trading venue. It becomes part of the ecosystem's identity.