Although OP hinted at the Layer2 boom with its airdrop in 2022, Ah Zhao believes that it wasn’t until Arbitrum’s airdrop in March 2023 that the era of 'burning gas to farm Layer2' truly began. Then, in September 2025, Linea put a period on this era. —————————————— The start of the Perp DEX era? · In November 2024, Hyperliquid’s airdrop kicked off the era of 'farming Perp DEX on-chain trades.' · Ah Zhao thinks that this year and next, the main narrative for on-chain airdrops will likely revolve around Perp DEX. —————————————— Initia’s perspective and outlook Initia @initia co-founder Zon @ItsAlwaysZonny recently published an article titled *Why Perps Obviously Belong on Application Specific Blockchains…* The core points are: · Perpetual contracts must run on application-specific blockchains, not general-purpose public chains. · Perp DEX is extremely sensitive to latency, fees, and customizability. The 'egalitarian' block space of general-purpose public chains has become a value drain; the future belongs to 'Appchains are the new Apps.' So, will Initia become the infrastructure for Perp DEX in the future? Or will Initia jump into the game itself? —————————————— When a sector sees a flagship project airdrop, followed by many institutions investing in that sector, and then numerous projects building infrastructure for it, Perp DEX seems to be taking on the narrative flavor of Layer2 farming. Hyperliquid’s airdrop is roughly equivalent to Layer2’s OP moment. So, who will be the ARB moment? The STRK moment? Looks like it’s time to lose some money again! —————————————— On September 16, @initia will host a livestream—there might even be some surprises!