Yesterday, I experienced on-chain exchange Hyperliquid for a while, and I feel that its smoothness is still quite inferior compared to Binance and OKX.

Today, I chatted with friends and discussed a question.

All the major voices in CEX are Chinese; will the major voices in DEX be Chinese or foreigners?

Let me mention some competitors that Hyperliquid is doing relatively well against: dYdX, GMX, SynFutures, and Drift.

Among them, Hyperliquid has a daily trading volume of 3 billion USD, DYDX 300 million USD, GMX 244 million USD, I couldn't find SynFutures, and Drift has a trading volume of 150 million USD.

Currently, the maker and taker fees are relatively low at Hyperliquid and DYDX; these two have higher trading volumes compared to other DEXs.

In addition to these two, there’s Aster, which CZ has been promoting recently. This DEX is Binance's favorite child and is expected to be a core application on BSC in the future.

Besides that, there’s also Standx, this dark horse.

Why do we say Standx is a dark horse? As we all know, Binance's contracts are currently the largest application in the exchange sector and even in the crypto sector.

The CEO of Standx is a former top executive from Binance's contracts who started a new DEX.

The relationship between Aster and Standx is like one is in the light and the other in the dark, both part of the Binance DEX ecosystem; they may appear to be competitors on the surface but dine and drink together privately.

Since they are both part of Binance, what are the differences between Aster and Standx?

Aster, as an officially supported DEX, is currently fully operational and supports multiple chains including BSC, SOL, ARB, ETH, with a maximum leverage of up to 100 times. It currently has 13.1 million TVL, equivalent to 135 million USD.

On the other hand, Standx is still under development. As a DEX operating without official support, Standx's traffic generation plan is to release the DUSD stablecoin, which offers a 4.45% annual yield for holders of DUSD.

In another 2 months, Standx will officially launch. Those who usually participate in airdrops can take a look at Aster and Standx, two DEXs emerging from Binance that have great potential to make their careers.

I hope that the final landscape of DEX will also focus on the Chinese, which confirms that in the crypto world, only the Chinese flow is the top flow.

@Aster_DEX @StandX_Official