Lao Bai
Lao Bai|Sep 21, 2026 11:36
With the rise and emergence of Hyperliquid, both the cryptocurrency and traditional financial circles have recognized the power of perpetual contracts as a powerful tool. Its beginner friendly, continuous pricing, and 7X24 features have led more and more users and institutions to incorporate it into their trading toolboxes However, the Matthew effect on this track is also extremely evident. After HIP-3, Hypeliquid is far ahead in both trading volume and market value. If the latecomers were not differentiated from Hyperliquid, it would be difficult for them to break through the Perp Dex race. Looking at the several companies that have done well so far, they all have their own unique selling points 1. Channel - Represented by Lighter, it is bound to the Robinhood ecosystem 2. Asset categories - Trasia, represented by Entropy, expands pricing to Asian assets and Pre IPO companies beyond the US stock market 3. Market making/liquidity patterns - Represented by Variational, distinguished from the vast majority of CLOBs by RFQ+Tradfi hedging In other words, for a new project on this track to be competitive, it must have something unique in one of the three directions mentioned above. The fourth direction that I can personally think of is the integration with AI. This integration can be targeted at the customer group - currently, the main trading subjects of Perp Dex are people. We have been saying that there will be an Agent Economy in the future, so designing or optimizing Perp for agents should be a direction. Or it could be a strong enough AI with sufficient data to model the financial world. Just like the current big language model predicts the next token, the Li Feifei World Labs world model Atlas predicts the next scenario. The AI model here is not predicting the next candlestick, but simulating how the probability changes of future world states will propagate to asset prices. As an advisor who has been working with Amber Group for many years, I am pleased to see Amber investing in @ Travix_fi, a product that is innovative in all directions I mentioned, including 2, 3, and 4 If you read Travix's X profile- The World's First AI Compute Omnibroker, powered by financial world model, verifiable AI strategies and exotic reality asset. Translated into English, it is the world's first AI powered all rounder broker platform, driven by financial world models, verifiable AI strategies, and exotic real assets. It is a Perp Dex, not just a Perp Dex According to the direction I just mentioned, open it up and take a look 1. After the HIP-3 asset class, Perp Dex now has no shortage of standard RWA types such as US stocks, indices, and gold. Travix chooses to continue in two relatively blank directions: One is Compute Assets - assets around the AI computing power industry chain such as H100, Memory, Chip, Power, etc; The other is East Asian Exotic Assets - Japanese and Korean stocks, regional indices, and assets related to the entire Asian computing power supply chain. Everyone has always said that in the future, computing power will become the lowest level Infra, just like today's electricity. Whether the core production materials, GPU, Memory, and Power themselves can be continuously priced, traded, and hedged should be a very imaginative direction, rather than just speculating on US stocks such as NVDA, Hynix, and cloud providers 2. Market making/liquidity form - Travix wants to do more than just traditional Crypto MM. More importantly, it is important to try to attract entities with genuine hedging needs, such as computing power providers and participants in the chip industry chain. Because in a truly mature derivatives market, there are often a large number of people on the other side who already need hedging, rather than us young players engaging in PVP with each other Travix is now attempting to establish the Asia Pacific Liquidity Alliance, bringing in entities such as computing power providers and participants in the chip industry chain who have advance payment, inventory, and delivery contracts, to become potential Hedging Counterparties. 3. AI - As someone who studies Crypto and AI every day, this is the part that interests me the most Travix is working on a Financial World Model that I mentioned earlier: feeding information such as Prediction Market, news, social data, Smart Money, etc. into it to determine how a change in the probability of an event in the real world will affect different assets through different paths. For example, if the probability of a geopolitical event suddenly increases from 20% to 50%, how will energy, shipping, gold, exchange rates, and even stocks from different regions be transmitted next? This is more interesting than simply predicting whether the next candlestick will rise or fall. Ultimately, these judgments can be handed over to the agent and transformed into executable, backtesting, and verifiable trading strategies. Asset layer solves' what to trade ' World Model solves the question of 'why trade' Agent solves' how to trade ' That's also why Travix defines itself as an AI Compute Omnibroker, not just a Perp DEX. At present, the project is still in its early stages, and many things need to be verified after Mainnet. But if the next round of competition for Perp DEX starts from consolidating trading volume, subsidies, and listing quantity, and moves towards new assets+new liquidity+Agent Economy, then I think Travix's entry points are Make Sense.
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