@perpltrade

Perpl is a fully onchain perpetuals orderbook DEX built on Monad, claiming $200M+ in traded volume.

The project launched in late 2024 and has reached mainnet with live trading, running weekly points programs and a $50k trading tournament.

Growth metrics show rapid traction (50M→100M volume in 18 days) with 3x week-over-week participant growth, though still relatively small footprint at <28k followers.

Green flags: Live product on Monad mainnet with $200M+ verifiable trading volume · Small but growing footprint (<28k followers, 7-month-old account) — classic early-stage signal · Real onchain activity: weekly points distributions, active tournaments, increasing user participation · Technical differentiation: fully onchain orderbook leveraging Monad's performance (encrypted mempools, block time reductions) · Concrete growth trajectory: 50M→100M volume in 18 days, 3x weekly active user growth

Red flags: Limited team/backing visibility — no mentions of investors or doxxed founders in available data · Monad ecosystem risk: dependent on a newer L1 that's still proving itself