The main theme of the market has become clear: the decentralized perpetual contract exchange, now PerpDex, is very much like the DeFi Summer of yesteryear, or an extension and upgrade of the old DeFi products.

History is strikingly similar, with the core still being the pursuit of decentralization. This year, the industry's progress has been significant; missing out on the first wave of increases is normal and to be expected. The narrative of PerpDex has just begun, and many different types of DEX will emerge next.