The day before yesterday, I said that the new round of competition would only officially begin after all the front rows of Perp have issued coins. After all, this round of on chain Perp Dex and prediction market belong to the main track of Defi and NFT in the previous round I just finished watching the data performance of Lighter and edgeX on Defillama these past few days, and today I saw another interesting Perp project. Let me share it with you Why do I find it interesting? It's because I think of the last round when Uniswap was at its peak. At that time, several major Layer 2 were launched, and everyone thought there was nothing to compete in the Dex field. Uniswap deployed once on each chain and dominated the world The results were unexpected. On BnbChain, everyone used Cake, on OP it was Velodrome, on Base it was Aerodrome, and on Polygon it was QuickSwap. Uniswap had an advantage on Arb, and for a considerable period of time, it was still rubbed against the ground by Camelot These are still a few big L2 models above. As for other less popular ones such as Zk Sync, Starkware, Linea, Mantle, Uniswap doesn't have much presence So in the Defi Summer round, Dex was the main track, and each chain had its own "Uniswap" ecosystem In this round of Perp Dex+prediction market, do several major chains also need to have their own "Hyperliquid"+"Polymarket" ecological niches? As is well known, apart from ETH, there are actually only three chains with "living people" now BNB Chain，Base，Solana The basic ecological niche of BNB Chain has been determined - Aster+Opinion Labs, and in addition, several prediction markets are poised to take off Solana Jupiter and Drift are both doing Perp+market forecasting, but in fact, neither of them is in line with Solana's "high-speed chain" characteristics because their Perp is not CLOB, and the forecasting market is also connected to third-party platforms such as PolyMarket/Kalshi. What I am personally looking forward to are actually @ bulletxyz_ and @ intodotspace. The Perp boss of CLOB is currently @ pacifica_fi, but it is said that it will do Layer1 on its own in the future, so it is unlikely to be included in the Solana ecosystem project in the future. Anyway, Defillama has not included it in the Solana ecosystem yet So back to Base, the predicted market ecosystem is undoubtedly Limitless, but what about the "Hyperliquid" ecosystem? Who is it? I couldn't believe it for a moment The only Perp that can come to mind is Avantis, but this project is too similar to GMX in terms of mechanism (non Hyperliquid type Clob, but tranche based LP, similar to GMX's AMM style), trading volume ranking, and coin price. It is also a typical type of coin that goes all the way up Binance without looking back So I searched around Base again and saw @ rollxfi. I was pleasantly surprised to find that this is a CLOB style similar to Hyperliquid, and interestingly, like Hyperliquid, it has no VC financing! The overall architecture of the project is not much different from Hyperliquid 1. Unified Spot+Perps account Spot goods are used to be responsible for asset price discovery (where communities first meet). The contract is responsible for risk pricing (hedging, leverage, basis trading), so that market makers can quote and hedge on the same liquidity plane, greatly narrowing spreads. 2. Universal Collateral In theory, any asset can be mortgaged, traded, and the diversified capital on the Base (stablecoins, LST, RWA, Yield bearing assets, etc.) can be converted into productive margin. Reduce idle funds and improve the capital efficiency of the entire ecosystem. 3. Institutional level order book (CLOB Market Structure) The decline of GMX and the rise of Hyperliquid have proven that AMM is more suitable for early initiation of Perp, but cannot support the complex strategies of professional market makers. Only CLOB can provide accurate bilateral quotes, determined matching rules, and microsecond level delays. This is also a prerequisite for attracting top market makers to settle in Base. More importantly, the current time point is very delicate for Base Firstly, as a gathering place for the current three major human traffic, Base has over 4 million assets, ranging from Meme to AI to RWA. However, the underlying infrastructure capable of carrying institutional level liquidity and large-scale hedging needs has always been lacking, relying mainly on Aerodrom's spot Dex to support it, and the trading volume is not high (300-400 million per day). A high-performance CLOB site that maintains tight spreads, sufficient depth, and effective price discovery in extreme volatility, with a "Hyperliquid" level Dapp, is currently the most needed by Base. This can integrate the current fragmented liquidity of Base into a market with depth and resilience. Furthermore, Base announced in September last year that it would explore the issuance of tokens. If you are familiar with the impact of OP/Arb/Solana's coin issuance on the ecosystem, it is not difficult to know that the most core native DEX on every large public chain is the biggest beneficiary when it issues coins. Whether it's Solana's Jupiter, Op's Veledrome, or GMX/Camelot on Arbitrarum And Base's coin issuance this year is almost a certainty, whether it will be in the first or second half of the year So it can be imagined that RollX V2, as the native liquidity engine of Base, will naturally be one of the biggest beneficiaries when the Base Token arrives, and is more likely to become the preferred trading and pricing venue. Now participating in RollX v2 is the next Velodrom/Camelot At that time, several major L2 may have such a pattern RollX V1 has achieved market validation 1. User scale: With 163254+traders. 2. Transaction volume: The cumulative transaction volume exceeds $20 billion. 3. Depth of liquidity: On chain liquidity reaches tens of millions of dollars. Now v2 is more focused on expanding the scale for professional traders and building the missing "Hyperliquid" ecosystem for Base At present, it is still in the waiting list stage, and I feel that there is hope to become a big shot. Anyway, I applied first https://app.rollx.trade/trade-v2