Recently, I have been paying attention to the ecological trends of derivative DEXs, and some projects have already moved beyond the shadow of early-stage financing. Based on current performance, these platforms are evolving into truly operational trading infrastructure, rather than just waiting in the conceptual stage.

Taking the current market observation as an example, the dual-chain strategy of BNB Chain and Solana has become the mainstream configuration. Trading depth, market-making incentives, stablecoin protocols, points reward systems—these modules are being rolled out simultaneously, indicating that project teams are shifting from single-point breakthroughs to considerations of ecological integrity.

One of the most noteworthy innovations is at the stablecoin level. Assets like $DUSD, which are deeply linked to derivative trading depth, break the traditional collateralization approach and instead attempt to maintain coin stability through the trading scenarios themselves. This embedded stability mechanism is, in terms of logic, more closed-loop compared to traditional DEX independent stablecoin solutions.

From the technical stack to the economic model, the overall ecological self-consistency is improving. This may be the area worth continuous observation.