O mercado de Perpetual DEXs amadureceu rapidamente nos últimos anos. O foco inicial era simples: reproduzir a experiência das exchanges centralizadas com maior transparência, autocustódia e menor dependência de intermediários.

On the Market Maker Points side, I started with 719,081.8108 PTS, while my referral-based Maker Points were 19,045.4 PTS. When I stopped the bot, Market Maker Points had reached 850,550.6845 PTS, the referral bonus was 25,618.9 PTS, and my total Maker Points balance was 876,169.6 PTS.

这也是我一直以来理解的 StandX 飞轮的方式：更多$DUSD进入 → 更强保证金基础 → 更多 OI 和交易活动 → 更多协议费用 → 更多收益回流$DUSD→ 吸引更多用户继续持有和使用 $DUSD。

I took the time to break down data from StandX's first year so you don't have to.

StandX is fighting to keep you in the race, paying yield on active margin is making timing so much more forgiving.

StandX 的 SIP-1 到 SIP-5 其实没那么复杂。它不是在堆概念，而是在一步步解决交易市场里的几个核心问题：交易效率 → 资金效率 → 收益来源 → 风险管理 → 市场创造

IMAGINE if i could list $CASHCAT on a perps dex myself and earn from the fees directly.

Just like the marvel universe built up characters and plot lines for years to achieve a beautiful Endgame, StandX have established 5 powerful SIPs before unleashing Universal Markets.

Perps trade at 3.3x spot, yet offer three orders of magnitude fewer assets. That is the largest unopened gap in crypto, and the next 10,000x. Starting from perps, StandX is doing exactly one thing: opening 1,000,000 universal markets. This piece takes that conviction apart, layer by layer.

では、StandXは一体何を追求しているのか？ 次なる「1万倍」のチャンス。それはPerpsを皮切りに、100万のユニバーサル・マーケットを創り出すことです。 現在のStandXの取引ペアは11個ですが、SIP-5がローンチされた暁には、500という中途半端な段階を一気に飛び越えます。そして、「100万の市場」という圧倒的なスケールの中で、この市場のあり方そのものを根本から再定義する。それこそが、私の目指している到達点です。

StandX 到底在追求什么？下一个 10,000 倍机会，从 perps 开始，做 1,000,000 个通用市场。StandX 的交易对现在是 11 个，等 SIP-5 上线，我追求的状态是：直接越过 500 这一级，在 1,000,000 个市场的量级里重新定义这个市场的形态。

SIP 5 brings Universal Markets to StandX. Anyone can launch a perp market, seed liquidity rewards, attract makers, and share in long term trading fees. Permissionless listings. Community liquidity. Yield on margin.

When we started building StandX, everyone asked why we built a stablecoin first. We kept going, because every layer was a step toward one goal: perps on anything, permissionlessly. Memecoin launchpads opened up ultra-early assets. Uniswap opened up spot. Derivatives, a $960 trillion market, are still gatekept. So we built backward. DUSD gave us yield-bearing margin. Perps let every position earn yield. MM Uptime brought tick level community market making. Today we ship the layer that ties them together: SIP-5, Universal Markets Listing.

StandX is the only platform of the three where yield on collateral is native. $DUSD continues earning automatically while being used as margin.

SIP-1〜SIP-5を「実際に触れて感じたこと」と「ドキュメントを読んで理解したこと」を交えながら、日本語で紹介します。

StandX has reached top 4 in DeFiLlama’s perps DEX daily volume, powered by DUSD yield and a product first SIP roadmap.

Good risk management matters more than a big balance. And honestly, for someone who knew almost nothing about trading six months ago, I've gotten to test, fail, and learn a lot. That part I don't regret.

In this article, I'll explain the bot system I built on StandX for Maker Points, the logic behind how I place limit orders, why I keep my weekend and weekday settings different, and how I accumulate Maker Hours on the Maker Uptime side.

Network Yield 是 StandX 的返佣与网络收益机制，规则很直观：你邀请的人来交易，你能分到他们一部分手续费；你自己交易，也能拿回一部分。更重要的是，它不是一个写死的比例，而是一条能一路往上走的进阶路线：随着身份从普通用户到 Community Builder，再到 Community Owner，能分配的额度和玩法完全不同。

Network Yield is StandX's referral and network rewards program, with a path you climb from regular user to Community Builder to Community Owner. Here is how the commission and rebate really work.

The first time I opened the TP/SL screen on a trade on StandX and saw four options instead of two, I got a lil excited ... Let me walk you through one of the biggest innovations in perp dexes over the past few years.

SIP-5 is one of the most differentiated proposals in the perp DEX space since Hyperliquid. It is not just about listing more assets. It is about opening a new layer of market creation for derivatives

StandX 在 2026 年走出的路线有些不同。它没有只把重点放在短期交易量上，而是围绕一个更长期的问题持续迭代：交易者的保证金、流动性、持仓、风险管理和市场创建，能不能被统一到一套更高资金效率的系统里？

I want to long BTC in the most gigabrain way. When I opened a tiny BTC long on StandX and clicked into the TP/SL screen, I saw something different.

@StandX_Official SIPs are product upgrades. Each one adds a new trading tool or improves how traders use the venue. sip-1 is about trade entries and sip 4 uses the builds on the same tech stack for trade exits.

Block Trade 和 Block Options 都不是那种第一眼就能被所有人理解的产品。它们没有“多上几个交易对”那么直观，也没有积分活动那么吵。但它们符合真实交易需求。大额交易需要更好的匹配方式。仓位退出需要更灵活的选择权。TP/SL 不该永远只是自动开关。大部分人会等到趋势已经热起来以后，才开始相信它。但共识不是免费午餐。等所有人都看见的时候，价格通常已经把账单打印好了。SIP-4 现在还早。早到很多人会觉得奇怪，早到它不像热点，更像一条安静的 Event Log。但新的交易形态，很多时候就是这样开始的。

SIP-4 turns TP/SL from a private front-end switch into an onchain right that can be matched, held, executed, and audited. Sell your take-profit as a Covered Call, or protect a position with a Protective Put you choose when to exercise.

The more you trade, the bigger your payout if your team wins the World Cup. Total Prize Pool: 10,000 DUSD

Funding does not only transfer value. It subtly reshapes who is willing to provide liquidity, and when.

StandX is excited to announce its integration with TradingView, bringing professional grade charts and technical analysis tools directly to StandX Perps. Traders now get a sharper read of the market without leaving the StandX interface, pairing the analytical depth of TradingView with the capital efficiency of DUSD native yield.

Bu araştırma serisi, Lighter ve StandX platformlarını teşvik mekanizmaları, getiri (yield) tasarımları ve protokol evrimi gibi altı temel eksende karşılaştırmalı olarak incelemektedir. Lighter, puan odaklı ve davranış kalitesini ödüllendiren sofistike bir incentive modeli sunarken; StandX, getiri mekanizmalarını protokolün içine yerleştiren ve SIP süreçleriyle sürekli gelişen "permissionless" bir altyapı vizyonu sergilemektedir. Özellikle StandX'in SIP-4 ve SIP-5 ile hayata geçirdiği opsiyon tabanlı TP/SL emirleri ve izinsiz türev piyasası listeleme özellikleri, makalenin finansal türevlerin geleceğine dair sunduğu en çarpıcı inovasyonlar olarak öne çıkmaktadır.

Deploy any market with a single DUSD (or our future utility token) stake — perpetual futures, prediction markets, pre-market assets, RWA derivatives, and any instrument class the framework extends to support. Your Seed funds the market makers. Your Oracle Grid sources the price. Your Shield buffers the risk. The protocol handles the rest.

The day the Dow crossed 50,000, Nvidia hit a record $5.7 trillion market cap, and the Nasdaq set another all-time high, Wall Street looked like it had rediscovered the money printer. Meanwhile, BTC got rejected at $82,000 for the fourth time and slipped below $80,000.

有一个非常基础、却经常被新手忽略的细节是：交易深度（Orderbook Depth）。很多人只有在真正吃过一次亏之后，才会意识到它的重要性。这篇文章想分享一个我在 StandX 上真实经历的交易故事，以及这次经历让我意识到的一些细节问题。或许对刚开始接触合约交易的朋友，会有一些参考价值。

With SIP-3, DUSD enters a new ‘Infinite Yield’ era, powered by an economic loop where protocol activity makes user capital more productive.

At a glance, StandX and Hyperliquid can look similar: both are Perp DEXs offering fast execution, leverage, and non-custodial trading. In practice, however, they encourage very different trader behaviors. This article does not aim to declare a winner.

Start with 100 $DUSD, trade for 14 days, and fight your way into the 10x Club for prize pool rewards, bonus points, and exclusive roles.

Learn how SIP-2 brings yield to eligible open positions on StandX, giving traders a new way to earn while holding conviction trades.

After each addition under Cross Margin, the liquidation price approaches not linearly but at an accelerating rate. Focusing solely on average reduction may cause one to overlook the contraction of the Health Ratio and the percentage shrinkage of liquidation distance.

Execution details matter more than most people think. Understanding how orders really behave on StandX makes a real difference.

The first StandX Improvement Proposal introduces onchain P2P settlement for derivatives trades, allowing counterparties to execute size directly with minimal market impact.

Trading Community’s ROI Challenge

Detailed StandX Recap of Milestones, Activities, and Ecosystem Evolution from the very beginning.

StandX BTC order book depth has crossed 800 BTC at a 10bps spread, showing stronger liquidity, cleaner execution, and growing confidence in the venue.

Binance Wallet and StandX are giving users an extra 10% StandX Points bonus as StandX Mainnet goes live.

Main Focus: December plan and Upcoming Rewards

StandX Mainnet is live for everyone. The table stakes are now real as you trade high performance perps on BNB and Solana with yield bearing DUSD on margin.

From early BNB Chain attention to becoming a leading PancakeSwap liquidity pair, DUSD shows how fast the market is warming to yield bearing stablecoins for perps trading.

We’re excited to announce that the StandX Alpha is now live. Access is being gradually opened to users on the waitlist and will soon be available to more participants. This marks the first step toward a new generation of trading, where perps and yield converge seamlessly.

From Lido stETH to StandX DUSD, passive yield mechanisms are transforming DeFi by making it simple, accessible, and rewarding.

StandX is the protocol to enable mining with perpetual collateral positions, packaging this advanced strategy into a seamless, one-click product.

Thanks to our 10,000 standers, DUSD is now a Top 10 stablecoin on both Solana and BSC!

StandX launches a Pre-Deposit Referral Campaign. Designed to reward early adopters and DeFi power users, this campaign offers a unique opportunity to earn real yield, accumulate reward points, and boost your returns — all before the official launch of StandX’s Perps DEX in July 2025.

$10M TVL in the First Month – DUSD reaches a major milestone, proving strong demand for a yield-bearing stablecoin. Full USDT/USDC Integration – Seamless minting with the two largest stablecoins, increasing accessibility and liquidity. CLMM Pools Are Live – Enhanced liquidity, better capital efficiency, and more earning opportunities for users. Yield Calendar Launched – Transparent reward tracking and effortless claiming, making passive income smoother than ever.

We’re thrilled to officially announce the launch of StandX and its flagship product, DUSD, a groundbreaking permissionless, crypto-native USD stablecoin designed to redefine how users experience stablecoins in DeFi. With DUSD, we aim to combine the stability of USD-pegged assets with the power of natural interest accrual, offering a seamless, flexible crypto savings experience for everyone.