Back in November, the VOL/OI ratio debate around certain DEX platforms was pretty heated—folks were calling it out left and right. But here's the thing people sometimes miss: when you actually understand how these venues operate with high-frequency trading activity baked in, the math shifts. The venue structure and HFT mechanics create different dynamics than traditional order books. A "high" OI ratio that looks alarming on paper might actually make sense given the liquidity conditions and trading patterns you're dealing with. The sweet spot isn't about hitting some arbitrary benchmark—it's about maintaining a reasonable OI level that reflects real market activity without creating unnecessary friction. That's the nuance worth understanding before jumping to conclusions.