Aster has been surging recently—could it really be driven by memes? I used GPT-6 Astra to do a detailed comparison of trading volume, open interest, fees, and growth sources across 7 perpetual DEXs, including Aster, Hyperliquid, and Lighter. Here are a few interesting findings: • Aster’s daily average trading volume has grown by 26.5% recently, with six RWA activity contracts accounting for 53.9% of single-day trading volume. • Hyperliquid’s open interest is still about 5.6 times that of Aster. • Lighter’s combined trading volume grew by 9.1%, but when broken down, its original business only grew by about 3.2%. It’s one thing to see trading volume increase, but understanding where the growth comes from and how much remains after incentives end is far more worth studying. The full report has been made into a webpage, including data tables, calculation methods, and sources. Feel free to discuss or provide feedback https://orange-dex-report.majc0623.chatgpt.site/ Note: Data is as of September 6; the growth rates mentioned compare the daily average of the past 7 days to the daily average of the previous 23 days, not week-over-week.