One-liner summary of pre-token PERP DEXes 1.@paradex is about to TGE; points are trading OTC at ~1x payout odds right now. 2. @variational_io will definitely be a top “pre-token PERP DEX” leader. 3. @liquidtrading is still very early; raised $20M; points are still cheap. 4. @edgeX_exchange TGE got delayed, point season resume, tge likely Q1, still printing fees. 5.@grvt_io keeps “PUA/gaslighting” users; the numbers/metrics haven’t been great. 6.@Backpack doesn’t really count as a PERP DEX. 7.@extendedapp, not sure what’s going on; testnet feels average. 8.@OfficialApeXdex is a joke / total nonsense, kinda speechless. 9.@OstiumLabs raised $30M, focusing on TRWA differentiation/competition. 10. @pacifica_fi is built by a former FTX CMO. 11. @StandX_Official has a strong team background, and TVL is high too. 12. @reya_xyz is about to TGE; investor/backer background looks solid. 13. @BasedOneX is about to TGE; massive early-cost advantage. 14. @astros_ag is basically the “golden child” of the Sui ecosystem. ...