TREE NEWS reports: The points season for perpetual DEXs is entering its second phase, with projects like Variational, Extended, RISEx, Lighter, Entropy, and others offering incentives before token generation events. Variational, with $60M in funding, has OTC points trading at $10-20, while Extended has limited points remaining. Entropy, deploying on Hyperliquid, offers near-zero fees via rebates, and Arcus hints at a future token for dYdX community.
PerpDEX Points Season 2: Projects to Watch
AI take
The shift to Season 2 signals that points programs are becoming a standard pre-TGE tool for perp DEXs, intensifying competition for liquidity and user attention. The presence of OTC points trading and limited supply suggests secondary markets are forming around these incentives, adding a speculative layer beyond direct trading. Entropy's near-zero fee model via rebates could pressure other platforms to rethink fee structures, while Arcus's token hint for dYdX points to community-driven launches. Whether these programs sustain engagement post-TGE or lead to user churn is the open question.
Generated by AI for reference only.
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