StandX has released its bi-weekly update, and overall, @StandX_Official seems to have a pretty clear rhythm. They’re not taking the route of suddenly dropping a bunch of narratives to boost hype but are steadily refining their product. The launch of gold and silver perpetuals feels more like a signal, but it’s more about completing the asset lineup rather than relying on them to drive volume. It seems more like a test of the system’s adaptability and whether the platform can handle more complex, non-pure crypto assets. The total daily trading volume across the market surpassed $1 billion. While this number isn’t particularly shocking, in the current highly competitive Perp DEX environment, it at least shows that StandX’s platform activity is steadily growing. Liquidity is the highlight of this update. With a 10bps spread, they can provide 800 BTC depth, which means that at least for mainstream trading pairs, the matching experience is close to top-tier levels. It doesn’t necessarily mean it’s the optimal solution, but it does show that the liquidity isn’t just artificially inflated through incentives. The adjustments to Maker Points and the DUSD Vault are relatively restrained, more like fine-tuning capital retention and order placement behavior rather than aggressively pushing incentives. The remaining feature updates and community activities are the kind of supporting elements you’d expect at this stage. They’re not game-changers but do show that the team is still working hard to improve user experience. In the current backdrop of intensified competition among Perp DEXs, with liquidity and mechanisms becoming increasingly saturated, StandX hasn’t opted for rapid pump-style expansion. Instead, they’re focusing on detailed optimizations in depth, spreads, and incentive structures. Whether they can truly stand out will depend on their performance in high-volatility, low-incentive, or even adverse conditions. At least for now, the team seems to be putting in the effort.