Had nothing to do this weekend, so I tested out the new CEX-level spot DEX on Kaia. Its overall architecture is similar to HyperLiquid. I deposited from Kaia's L1 into the dedicated L2 for this DEX. After briefly checking the documentation, it turns out this L2 is also built on OP. From the UI and the current smooth user experience, it really feels no different from a CEX. But here, let me nitpick a little based on the available information. For OP-based L2s, the theoretical peak TPS is around 3,500, and the actual tested maximum is probably around 1,500. Meanwhile, CEXs like Binance have publicly stated that their peak TPS can reach 1.4 million, which is roughly 400-900 times that of L2s. Of course, these numbers are prepared for the busiest market conditions, the kind that happens once every few years. Under normal market conditions, like recently, both are clearly sufficient. OP-based L2s are already extremely cheap, but this DEX Alpha Sec is built on Kaia, which makes it even cheaper. Kaia's L1 transaction cost is now mostly below 0.00001 USD per transaction, so the fees for applications on L2 are practically negligible. Because of Kaia's close ties with social apps Line and Kakao, the exchanges on Kaia might even be accessible directly through mini-apps in these social platforms in the future. Deposits would also use Kaia's USDT, making this entry point quite unique. This reflects the future direction of competition among many chains. Each chain will have its own ecosystem offering similar services, so the real competition will be about who can drive traffic to their platform.