Understanding StandX in One Article: How the Perp DEX Created by Crypto World OG Increased TVL by 4 Times in 7 Days?

In 2025, as competition among decentralized perpetual futures exchanges intensifies, a project named StandX has attracted widespread attention in the market. Its total lock-up position value surged 4 times in less than 7 days, breaking the $100 million mark, while the number of users tripled during the same period, exceeding 50,000. This growth data has made StandX one of the most followed projects in the DeFi space this autumn.

StandX was founded by core members of the former mainstream CEX futures team, including the head of mainstream CEX futures Aaron Gong and the director of mainstream CEX futures Justin, attempting to combine the Ethena-style synthetic stablecoin mechanism with the Hyperliquid-style decentralized futures trading model to create a complete financial ecosystem.

01 Project Background: On-chain Entrepreneurship of Mainstream CEX OGs

The birth of StandX stems from the entrepreneurial vision of two senior figures from mainstream CEX. In 2024, Aaron Gong and Justin left the CEX and decided to start their own business in the emerging field of blockchain.

The two founders have accumulated rich experience in the centralized exchange field, and now they are turning their attention to decentralized trading platforms.

Aaron Gong, as the former head of CEX Futures, led the development of this CEX Futures from zero to the industry's number one. Meanwhile, Justin was responsible for the technical development of CEX Futures, specializing in high-performance trading system architecture.

The team also includes financial experts from Goldman Sachs, ensuring dual expertise in both technical and financial aspects of the project.

StandX's core positioning is very clear - integrating synthetic stablecoins with decentralized perpetual futures trading.

"The team believes that stablecoins and Decentralized Futures are the two key tracks in the blockchain industry," team members pointed out in the report, "StandX aims to combine the two through innovative design to provide users with efficient, secure, and transparent trading and stable value storage solutions."

02 Innovative Mechanism: Dual-Engine Driven Financial Ecosystem

StandX has designed a unique dual product mechanism that sets it apart from many DeFi projects.

Yield-bearing Stablecoin DUSD

DUSD is the first cornerstone of the StandX ecosystem, which is a yield-bearing stablecoin. Users can mint DUSD at a 1:1 ratio using USDT or USDC, thereby participating in the entire ecosystem.

Unlike traditional stablecoins, DUSD offers automatic yields to holders, with the current annualized yield rate of approximately 13% to 20%.

The revenue sources of DUSD mainly consist of two parts: first, obtaining returns by investing assets into DeFi protocols or other high-yield strategies; second, utilizing the funding rate distribution generated by trading activities on the StandX platform.

This mechanism allows users to earn passive income simply by holding DUSD, without the need for complicated manual staking processes.

Decentralization Perptual Futures Trading

The upcoming Perpetual Futures DEX of StandX is another core component of its ecosystem. According to official information, StandX's Perp DEX product may soon be available to users.

This trading platform draws on the technical accumulation of mainstream CEX contracts and may adopt an optimized order matching mechanism or a hybrid on-chain/off-chain architecture, aiming to provide users with a high-performance decentralized Futures Trading experience.

03 Rise Data: The Emerging Dark Horse of Explosive Market Development

The recent rise data of StandX is impressive. According to the Web3 asset data platform RootData, StandX's TVL has surpassed 100 million USD.

What is more noteworthy is that this number has quadrupled in less than 7 days.

User growth is also astonishing, with the number of users increasing threefold during the same period, exceeding 50,000. This data indicates that the market's recognition of the StandX model is rapidly increasing.

The StandX pre-deposit activity will end on October 31, which may be one of the factors driving its recent rapid growth. As the deadline for the activity approaches, more users hope to seize the opportunity to participate in early interactions.

04 Participation Method: Zero Wear Early Interaction Strategy

For users who wish to participate in the StandX ecosystem, the project offers multiple ways to get involved, the most important of which is the pre-deposit activity.

Participate in the pre-deposit activity

Users can participate in the pre-deposit activity by visiting the official StandX website and connecting their wallets. A minimum deposit of 50 USDT or USDC is required to participate, and these funds will be automatically exchanged 1:1 for DUSD.

Users participating in deposits can not only earn an APY of approximately 5.96%, but also receive daily PTS points, which may be linked to future token airdrops.

Provide liquidity to earn double points

Users can also choose to provide liquidity for the DUSD-USDT trading pair to earn 1.1/1.4 times the points bonus.

This step is optional, but it can significantly improve the efficiency of point acquisition, making it a good choice for users aiming for maximum airdrop benefits.

Apply for Perps whitelist

For users anticipating future trading features, applications for the Perps whitelist can be made through the StandX official website by simply filling out their personal Google email.

This step is simple and quick, preparing for the subsequent experience of Decentralization Perptual Futures trading.

05 Unique Advantages: The Competitive Barriers of StandX

StandX demonstrates multiple advantages in the fiercely competitive Decentralized Finance field, forming its competitive barriers.

powerful team background

One of the biggest advantages of StandX is its team background. The founder comes from the core team of a mainstream CEX Futures Trading, possessing not only rich industry experience but also a deep understanding of Futures Trading products.

This experience enables them to apply the knowledge accumulated from centralized exchanges to decentralized scenarios, addressing the pain points of existing DEXs.

zero wear and tear interactive experience

Compared to some projects that require bearing high transaction wear and tear, StandX's interaction is almost "zero wear and tear". Users participating in the pre-deposit activity can choose to redeem when they temporarily need to withdraw funds, although they must wait for 7 days, but there is no wear and tear.

This design significantly reduces the cost for users to participate in early interactions.

No VC Investment Model

Unlike other projects, StandX has no VC investment and is funded by the team's own resources, demonstrating the team's commitment to the project's long-term vision.

From the user's perspective, this means that when the future tokens are released, the pressure of unlocking and selling is reduced, and the interests of the team and early participants are more aligned.

06 Opportunities and Risks: Rational View on Potential Returns

Despite StandX showing a strong development momentum, it is crucial to rationally assess its opportunities and risks.

development opportunities

The market space for decentralized perpetual futures that StandX operates in is immense. As the demand for on-chain futures trading rises, DEX projects that successfully capture value are expected to reap substantial rewards.

At the same time, the early points system of the project provided imaginative space for possible future token airdrops, attracting a large number of "wool party" followers.

The project team has also launched a limited-time interactive event with the Aster character, where users holding at least 3 ASTER tokens can claim the "ASTER" character in the official StandX Discord channel, which may be related to a token airdrop.

These activities enhance community cohesion.

potential risks

StandX also faces significant risks. As a project that is not yet fully launched, the risk of smart contracts always exists. Although the team background is reliable, the possibility of technical vulnerabilities cannot be completely ruled out.

At the same time, the project clearly warns participants to guard against the risks of illegal fundraising under the guise of "virtual currency" and "blockchain," and participants should be aware of the associated regulatory risks.

In addition, the fierce competition in the DeFi sector cannot be ignored, as StandX needs to compete for market share among established competitors like Hyperliquid.

Conclusion

The future development of StandX will depend on several key factors. The actual experience and performance of its Perptual Futures trading products will be crucial in determining user retention, while the design and release of the token economic model will affect the value capture capability of the entire ecosystem.

As the end of the pre-deposit activity on October 31 approaches, the market is closely watching whether this project with an OG background in the crypto space can deliver on its promises and secure a place in the decentralized perpetual futures arena.

For participants in the DeFi field, StandX represents a trend – traditional financial elites are entering the decentralized world with their experience, attempting to build a new paradigm that integrates the advantages of both domains.

Whether this road can be taken will greatly affect the future development direction of Decentralized Finance.