In the evening, I listened to a Space where StandX's co founder @ StandX_Justin participated and briefly recorded key information. 1/Business Differences Ethena will first focus on stablecoins, and after reaching a scale of over 10 billion USD, it will also enter the Perp business; Hyperliquid first developed Perp DEX and later introduced USDH (to be done by the ecosystem project). @StandX_Official is the two core sub tracks of DeFi that choose Day 1 to do their own Perp DEX and stablecoin DUSD businesses. 2/Product Design Persist in not doing copycats The vast majority of existing Perp DEX is a copy of Binance's interface StandX will significantly redesign the interface UI Starting from first principles Rethinking what Perp DEX should look like Every line of code is written by oneself 3/Participation method Firstly, it is necessary to join the waitlist from the official website Product beta testing will only be open to those who have joined the waitlist Secondly, you can participate in the Pre Deposit activity before October 31st The forwarded message Specific gameplay and strategies have been introduced Welcome to my invitation link https://(standx. com)/reciprocal? code=Sea_ 4/DUSD revenue source The profit principle of DUSD is similar to that of BFUSD and USDe It is also the most popular strategy in the market during this cycle After obtaining the DUSD of user mint, StandX uses a robust Delta neutral strategy to earn interest and then returns the interest to the user In the past week, TVL has increased from 30M to 140M, which also exceeded the team's expectations 5/Key time points Mainly in Q4 1) After the National Day holiday, testnet will be launched within October and will last for 3-4 weeks 2) The plan for the November meeting is to conduct actual trading, mainly to improve the risk control system and basic product experience, in order to support more currency pairs and leverage ratios 3) If everything goes smoothly, the 'Trading Rewards' will be launched in December 6/Ecological Cooperation Many collaborations with Lista and Pendle have already been negotiated But we still need to focus on the development of basic products first More mainstream DeFi protocol collaborations will continue to advance 7/Team background Justin also revealed more background information about the team in Space: CEO @ StandX_AG was previously the overall head of Binance's contract business, having worked at CME (Chicago Mercantile Exchange) for nearly 10 years. Previously, StandX_Justin was the head of growth for Binance's contract business, having worked in traditional finance (derivatives industry) before joining Binance in 2019. Another partner with a technical background, previously responsible for on chain trading strategies at Amber and writing related trading systems at Goldman Sachs. The team has been engaged in perpetual contract business at Binance for many years, and it is relatively easy to find Binance employees with relevant backgrounds for verification. The team has accumulated a lot of valuable first-hand experience during their work at Binance. The above.