Last week, Aster strongly attracted the attention of the crypto market, successfully siphoning off Hyperliquid, achieving a phased victory, and driving a significant rise in the overall Perp DEX (decentralized contract exchange) sector.
Avantis, Lighter, edgeX… and many other new-generation decentralized contract exchanges have also become the focus of research for investors and traders, with discussions on which airdrop has high expectations, which product offers a good experience, and which platform token has a strong wealth effect.
Even Jia Yueting came to comment on Aster, stating that "the success or failure of DEX no longer depends on the narrative of 'decentralization', but on whether it can provide a user experience close to CEX, supported by a truly community-driven incentive mechanism."
Outside the spotlight, CEXs are also quietly laying out their strategies. For example, the CoinW team, with eight years of experience in the exchange sector, has developed DeriW, retaining its rigorous pursuit of product experience while balancing "user experience comparable to centralized services" and "decentralized transparency and reliability."
Is it competitive anxiety or proactive layout? What advantages do CEXs have in making Perp DEX? Specifically for DeriW, what distinguishes it from already shining competitors, and is it a value pit waiting to be tapped?
This article will answer the above questions one by one.
Recent Hot Sector — Perp DEX
The rotation of sectors and theme replacements in 2025 are mostly driven by capital operations, with little upward momentum in previously popular sectors and niches. However, in September, Perp DEX became the absolute focus of the market, with Aster, Avantis… one Perp DEX after another demonstrating the enthusiasm of users and capital for this sector through intuitive violent price increases.
Looking back at the development of the industry over the past few years, the migration of finance from on-chain to on-chain has already become an irreversible trend. On one hand, Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), explicitly mentioned in a speech at the end of July that "we will migrate the U.S. securities market on-chain," indicating that on-chain markets will become the main battlefield of future finance, with decentralized exchanges (DEX) becoming the core hub for the circulation of financial assets; on the other hand, whether in spot or derivatives, DEXs have been continuously eating into the market share of centralized exchanges (CEXs) over the past few years, and the trend of users migrating from CEXs to DEXs has already taken shape.
However, despite the long-term vision that DEXs, characterized by "no intermediaries," "self-control of assets," and "transparent trading mechanisms," are expected to completely eliminate many limitations of CEXs, in the short term, DEXs still face many challenges and limitations. Issues such as high transaction fees, complex operating processes, and high learning curves make it difficult for users (especially new users entering the market as the concept of cryptocurrency becomes more popular) to get started, thus preventing them from experiencing the convenience of decentralized finance earlier.
In this context, the new generation of decentralized contract exchange, DeriW, has emerged.
What Makes DeriW Special?
With its extreme trading cost advantages, user-friendly interface, and excellent security guarantees, DeriW is attempting to break down many of the barriers to entry that traditional DEXs have, building a "DEX for everyone" that allows every user, whether a beginner or a professional investor, to participate in the wave of decentralized trading without obstacles.
In terms of positioning, DeriW is positioned as a new generation of decentralized perpetual contract exchange, expected to support hundreds of different types of trading assets, allowing up to 100x leverage to meet the needs of users with different risk appetites. Compared to the order book-based contract exchanges commonly found in the market, DeriW's biggest innovation lies in its unique "PendulumAMM" mechanism — this mechanism reconstructs the logic of liquidity composition by isolating liquidity pools of different periods, effectively avoiding the possibility of LP sniping incidents that have occurred on Hyperliquid; additionally, this mechanism can achieve zero funding rate trading under specific conditions, significantly reducing users' cost concerns when using DEXs.
Overall, the product design of DeriW precisely targets the three major pain points users face when using traditional DEXs — cost concerns, operational thresholds, and security worries.
Regarding cost concerns, in addition to the zero funding rate; the platform only charges a 0.01% fee, the lowest in the industry, significantly lower than competitors like Hyperliquid (0.045%); furthermore, since DeriW operates on a dedicated Layer 3, transactions incur no Gas fees — with the mechanism design of "zero funding rate + 0.01% fee + zero Gas fee," DeriW has built the most competitive cost structure in the network, which is expected to completely eliminate users' cost concerns. At the same time, this will make small, high-frequency strategies possible, allowing every investor, regardless of capital size, to trade and profit freely in a fair cost environment.
In terms of operational thresholds, DeriW, inheriting the product genes of CoinW, has put significant effort into UI/UX design, with a clear and simple trading interface that allows beginners to quickly get started. Meanwhile, DeriW's innovative PendulumAMM mechanism also realizes "order execution upon placement," allowing users to avoid the hassle of worrying about order prices and market depth (market orders often cause price shifts, while limit orders require waiting for counterparties or market makers to match) as they only need to input the amount, select leverage, and click confirm for the transaction to be completed instantly. By optimizing the design at multiple levels, DeriW has greatly simplified the operational process, lowering the entry barrier to the minimum.
Looking at security, CoinW, which has been operating stably for eight years, provides professional and solid security support for DeriW; in terms of fund management, DeriW adopts a completely non-custodial design, ensuring that users always control their assets, and the platform cannot touch them; additionally, the well-known industry security auditing firm CertiK has conducted a comprehensive audit of DeriW, and will conduct regular security checks in the future — multi-layered professional security measures will build a solid security barrier for DeriW, providing every user with a safe, transparent, and trustworthy trading environment.
A Bridge Linking Traditional Finance and On-Chain Finance
Standing at the critical juncture of the world's migration from traditional finance (TradFi) to on-chain finance (DeFi), DeriW does not merely want to be a passive participant but is actively seeking to play a bridging role between the two worlds.
On one hand, DeriW is building a compliant and convenient on-chain entry for traditional finance users through partnerships with local compliant banks in Dubai, allowing funds and users from traditional sectors to enter DeriW and the entire on-chain world through familiar channels, experiencing the revolutionary advantages of decentralized finance.
On the other hand, to lay out for the trend of "everything on-chain," DeriW is actively expanding the types of assets supported by the platform through an open architecture. With the tokenization of real-world assets (RWA) such as stocks, bonds, and commodities, the tradable assets on DeriW will continue to diversify. In this process, DeriW will gradually evolve from a trading venue focused solely on cryptocurrencies to a comprehensive trading platform covering various asset classes globally.
In summary, "continuously lowering the entry barrier" and "constantly enriching trading functions" are the two main lines that DeriW consistently adheres to at the product level, and they are also the core methodology for DeriW to move towards the goal of being a "DEX for everyone."
Looking back at the history of DEX development, the first half of the story belongs to pioneers like Uniswap and Hyperliquid, who have helped some users develop the habit of conducting spot and contract trading on-chain, bringing unprecedented attention to the sector. However, the competition in the second half will no longer be limited to the crypto-native market but will extend to the broader real financial world — in this process, platforms that can truly lower barriers, enhance experiences, and establish cross-border connections are likely to become the ultimate winners.
For DeriW, the platform's initial vision was not to build a dedicated trading venue serving only a portion of the community, but to create a future trading platform that truly serves the public. DeriW's mission is crystal clear — to enable everyone globally, regardless of their location, wealth scale, or level of expertise, to equally and conveniently enjoy the benefits brought by decentralized finance.
Now, DeriW has launched this journey through the Supernova+ points program, where users' trading and invitation activities will automatically accumulate points, which will become the core proof of token airdrop during DeriW's TGE. Through points and tokens as intermediaries, individual contributions will be effectively quantified. In this process, users can not only complete the transformation from mere traders to platform sharers and ecosystem participants but also hope to capture the expected wealth effect when the Perp DEX sector explodes.
As CEXs begin to "envy" Perp DEX and enter the fray, it is not just CoinW; the genetic advantages of CEXs may be their powerful weapon; from another perspective, the value capture of new decentralized business lines will greatly feed back into the platform tokens, and regarding the price expectations that small and medium investors are most concerned about, let us wait and see.
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