2026-01-07 16:29:37

Some people mentioned that the Blur moment for perpetual DEXs is coming, but the reality is far from that. The biggest highlight of this wave is the multi-dimensional upgrade of the points system—from open positions to order book depth, the coverage has indeed expanded quite a bit.

Everyone is familiar with Blur's story; that project's points design was quite ingenious, but it ultimately went to extremes. Its collapse was mainly due to the overly intense impact of the points incentives on the entire ecosystem, evolving into a fireworks show. For trading platforms to survive long-term, they must avoid this pitfall.

This time, the approach is clearly more mature—no longer engaging in exploitative tactics, but rather balancing user participation and platform stability through diversified incentive dimensions. From a design perspective, it seems to be learning from Blur's lessons, using more sustainable methods to build trading depth and liquidity. This evolution still holds reference value for the entire DEX ecosystem.

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SoliditySlayer

· 01-07 16:59

Blur really messed up the points this time. It seems they've learned their lesson and become smarter. The multi-dimensional incentive approach doesn't seem to be as easy to break anymore.

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ImpermanentPhilosopher

· 01-07 16:55

Oh no, it's "this time it's different" again. I'm tired of hearing it... Blur's approach made me sick, with the points system flying all over the place, and the ecosystem was directly burned out. Now they change their tune and say they've learned their lesson? Multi-dimensional incentives sound impressive, but frankly, it's just the same old story with a different coat of paint. The real test will be how user retention looks after six months—whether the points system will provide stable output or if it's just another round of cutting the leeks.

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WalletInspector

· 01-07 16:54

Blur's tactics backfired, and this time, how well can it do? To put it simply, it's just spreading out the incentives; don't use up all the bullets at once. It doesn't sound like anything new.

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LiquidityHunter

· 01-07 16:39

Seeing this kind of analysis again at 3 a.m... No one is paying attention to the specific data on liquidity gaps. Talking about multi-dimensional incentives is less interesting than directly looking at the slippage changes of each trading pair.

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MidnightTrader

· 01-07 16:38

Perpetual DEX, it feels like we're just copying and pasting Blur's story again. Multi-dimensional incentives sound good, but are the pitfalls really that easy to avoid? Honestly, it still depends on whether we can truly hold up.

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