It can be summed up in three words: mobility, user experience and differentiation. This article originates from an article written by Sleeping in the Rain, organized and compiled by Foresightnews. (Previous summary: Want to sell again? The U.S. government transferred 19,800 Bitcoins to Coinbase, and BTC once fell below $95,000) (Background supplement: Coinbase CEO blasts anti-money laundering policies as useless: Spending $213 billion every year only prevents 0.2 %Illegal actions, harming legitimate users) A common topic, how should on-chain perp dex compete with other competing products, even CEX? I think it is nothing more than two points. One is to improve the liquidity/user experience as much as possible, at least similar to CEX; the other is to list smaller altcoins without permission. The above paragraph can be summed up in three words: mobility, user experience and differentiation. You can see these trends in the development of perp dex such as Hyperliquid and SynFutures. What I like about Hyperliquid is that it has good liquidity, good user experience, and you can play small-cap memes (spot transactions) on its front end. You can even foresee that many memecoins will be released on Hyperliquid in the future. SynFutures does a good job here too. For example, regarding liquidity, SynFutures adopts a centralized liquidity model. We can provide liquidity in a specified price range through its mechanism oAMM. The capital efficiency of this type of liquidity supply model is better than Jupiter JLP and GMX GLP. At the same time, users have better liquidity depth when executing transactions within the specified range. Although liquidity supply is performed using a DEX-style oAMM, in terms of the user's front-end experience, SynFutures is still an order book. This can meet the trading needs of derivatives users. Another advantage of SynFutures is its permissionless derivatives market - anyone can come here to launch currency-based derivatives of a specific token (you only need to provide the token as a counterparty, no USDC is required). I think this is very important. This is the product advantage of SynFutures, which differentiates it from CEX products. I have mentioned Base AI many times in my tweets before. In the past few days, the market's attention has begun to turn to Base, and the market's attention to Base AI has even shown signs of surpassing Solana.We can clearly see this change from the two pictures below (AIXBT has become the AI ​​Agent mindshare Top1). Corresponding to the popularity is the wealth effect, $VIRTUAL $AIXBT $CLANKER has a very large increase. Combined with the information that SynFutures may launch a spot aggregator, SynFutures will likely become an important player in the Base AI meme hype. Imagine that the future market may be one where Virtuals and Clanker launch tokens, and SynFutures is responsible for spot and derivatives trading (currently SynFutures is the number one derivative on Base), thus catalyzing a larger Base AI bubble; ) On November 25, SynFutures announced new information about Foundation and $F, and it is estimated that TGE is imminent. Their time node selection is also very good, it happens to be during the period when Base regains market attention + Hyperliquid issues coins. If you are interested, you can read the official introduction to the foundation and $F https://x.com/SynFuturesDefi/status/1861029432850616496 Finally, let’s take a look at the basic information of SynFutures through Rootdata. Related reports Are you selling it again? The U.S. government transferred 19,800 Bitcoins to Coinbase, and BTC once fell below $95,000. Coinbase CEO blasted the anti-money laundering policy as useless: $213 billion is spent every year to only prevent 0.2% of illegal operations, hurting legitimate users’ net capital inflows and catching up with Solana. Six reasons why the Base chain is about to explode? "How can decentralized perpetual contract exchanges compete with CEX?" This article was first published on BlockTempo (Dong District Dongzhu - the most influential blockchain news media).