There aren't many good project right now thats why CT tl is full of perp DEX's and MegaETH right now some VC raised Billions of funds to give it to the projects but they aren't really investing maybe bcuz they are unable to find a projects with good product that will fit in crypto Also teams airdrop cluster, coin listing at very low circulating to crime pump, focus of pre-sale instead of their own product is another matter entirely

.@variational_io just dropped a detailed article about how CLOBs are wrong for RWAs and how it can be solved >>-- here's the very short summary based on Variational's article for coming years RWAs gonna play a vital role in crypto. TradFi already does $30T+ yearly in derivatives on these assets. On-chain has captured less than 0.01% of it. Problem with CLOBs (Hyperliquid, Lighter etc) - Every new RWA market has to build liquidity from zero using only crypto money. - But TradFi already has massive existing liquidity from big dealers For example: - Depth: CME $19M || Hyperliquid only $152K (<1%) - Slippage on $1M trade: CME 0.79 bp || Hyperliquid 15.4 bp (20x worse) - During big news: Hyperliquid slippage hit 160 bp (200x worse) another DEX Lighter Consistantly paying $250K/week in subsidies just to rent liquidity in oil & gold All that proving is CLOBs are a mistake for RWAs >> Solution But Variational comes up with a solution what is Brokerage/RFQ model - Brokerage don’t make liquidity itself - It just aggregate liquidity from existing TradFi dealers - it either internalize offsetting orders or route them to best venue - revenue comes from spread >> Variational advantages - Direct connection to TradFi liquidity - 0% trading fees + rebates + rewards - 200+ RWAs assets - Up to 50x leverage, 24/7 trading ( No deleveraging problem unlike CEXs) Launch Plan (3 Phases): Phase 1 (May 2026): First RWA perps --> US500, Oil, Gold, Silver etc. Phase 2 (~1 month later): 23/5 CFDs, hundreds of single stocks, FX, more commodities Phase 3 (Q3 2026+) ull multi-dealer system, Asian markets (Korea, Japan, HK), prediction markets, etc Variational Summer is gonna be huge gVar