Decentralized Perpetuals Explained | Hyperliquid ($HYPE), Aster ($ASTER) & BMX ($BMX) in Crypto & Web3

Perpetual DEXs are taking over crypto trading. Once dominated by centralized exchanges, platforms like Hyperliquid, Aster, and BMX are now leading the way in onchain perpetuals.

In this episode of Unwrapped, the BMX Crypto Podcast breaks down how each project is reshaping DeFi trading:

🟦 Hyperliquid ($HYPE)

A grassroots project with its own custom L1 chain, lightning-fast order books, and a deflationary token model.

🟦 Aster ($ASTER)

The feature-rich multi-chain DEX with advanced pro trading tools, beginner-friendly pools, and a loyalty-based airdrop system.

🟦 BMX ($BMX)

Building on Base with Classic & Freestyle perps, plus a full DeFi ecosystem (DeliSwap, Carousel) that routes real fees back to users with zero emissions.

We cover:

• The mechanics of perpetual DEXs and how they differ from spot trading
• Why Hyperliquid’s speed-first model captured the market
• How Aster’s multi-chain strategy and unique airdrop incentives drive adoption
• BMX’s ecosystem approach: Classic vs. Freestyle perps, and its zero-emission fee model
• What sustainable perpetual trading could mean for the future of cryptocurrency and Web3

Whether you’re crypto-curious or already trading onchain, this episode explains how decentralized perpetuals are evolving into a core part of the DeFi landscape.

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