From Uniswap to GMGN, and then to FOMO The evolution of DEX actually has a very clear logic 1/ If on chain transactions are compared to buying things, then Uniswap is most like an open shopping mall where anyone can enter and set up a stall. In this market, merchants, also known as LPs, are responsible for providing goods, while users are responsible for buying and selling. So, the core value of Uniswap is not complicated: Provide an open and transparent trading venue Let the transaction happen 2/ GMGN is more like Dianping on the chain. Its core value is not to provide the transaction itself, but to help you judge: What has been selling the fastest recently Which major buyers are currently purchasing Which buyers have more accurate vision Do you want to place an order with a certain address GMGN's job is to reorganize scattered transaction data on the chain into more easily consumable information tags: smart money 关键意见领袖 The giant whale By adding wallet profit and loss analysis, real-time reminders, follow-up and other functions, users can not only see the market, but also start to "understand the market". It's not selling liquidity, it's selling information advantage. 3/ Taking another step forward is FOMO. FOMO is more like a small red book on the chain, or a social e-commerce style transaction portal. It emphasizes another more consumer oriented experience: Discover opportunities through content Stimulate trading desire through social atmosphere Minimize the threshold for use as much as possible Hide complex processes such as wallets, routing, cross chain bridges, and payments in the backend Let transactions occur naturally like brushing content FOMO does not produce goods, nor is it the market itself. This is the main thread of the evolution of DEX: value continuously shifts from low-level liquidity to information organization, attention distribution, and user entry. 4/ The same logic is also being replayed on the Perps track. http://trade.xyz It's a very typical example. If we use the previous metaphor, it is more like a financial department store with product selection, floor planning, and business rules. It has several very typical store functions: Select products and decide which stocks, indices, commodities, or foreign exchange markets to list. Commodity standardization involves packaging assets of different categories into similar perpetual contract products. Pricing, for off chain assets such as stocks, commodities, and foreign exchange, platforms also have to deal with more complex issues. Unified display, in the same interface, users can switch from encrypted assets to stocks, indices, commodities, and forex. But that's not enough. 5/ if http://trade.xyz It's still the logic of the store. So @ midasmarketsxyz has entered the 'trading system logic'. The difference between the two lies in: ▌ http://trade.xyz What you care about is what you can trade Midas is concerned about why you trade, how your position changes, and whether you can immediately complete the action Midas is not "another better looking front-end", but rather a unified workflow that combines several previously scattered actions, namely information intake, position understanding, cross chain scheduling, and transaction execution. Traditional on chain contract transactions usually proceed as follows: Social media discovery news → News website confirms event → Chart tool analyzes price → Wallet checks funds → Cross chain bridge asset transfer → Transaction execution This is a very long link. What Midas wants to do is compress it into a closed loop: News/Opinion section discovers market changes → Midas AI understands the impact of this → generates direction, entry, target, stop loss, and reasons → executes directly after user confirmation → continuously manages positions in Portfolio Midas transmission- https://midasmarkets.xyz/r/iamyourchaos 5/ From this perspective, the evolution of on chain trading products is actually becoming increasingly clear. The underlying liquidity will increasingly resemble hydropower and coal, and what truly determines where users stay will no longer be just the ability to trade, but rather: What do you see first How do you understand the market Can you quickly convert cognition into action