Some notes/ takeaways that apply to farming every Perp DEX 1/ You’ll generally earn way more points by placing trades / pushing volume compared to just having TVL sitting in a vault (if there is an ongoing time limited trading campaign focus harder then = "easier XP") Some platforms will have the XP separated into something like "Liquidity XP" and "Trading XP" (however we don't know the "weighting' that will be applied to each) 2/ The LPs / Primary vault for all of these perp DEX platforms are essentially taking a bet that even if traders make profits the trading fees should outweigh that amount, statistically traders lose more money than make profit as well. 3/ Farming all PerpDEXs will always be -EV to a certain extent due to trade loss or fees paid This is not a bad thing as we have seen with the most extreme case in @HyperliquidX Some can be very -EV as we have historically seen in infamously bad examples like @LogX_trade and @OrderlyNetwork However, the edge is identifying and having conviction in the ones where you think it will be +EV / worth doing for a select few platforms For me right now this is @tradeparadex , @avantisfi , and @Backpack Exchange have the most potential upside for your time right now Honorable mentions include @DriftProtocol S2, @variational_io (when they go fully open public) 4/ Make sure your trades are open for at least 5-10 minutes to avoid getting marked as a sybil / wash trader you can set a tight stop loss when you open a trade so you don’t have to stare at the screen the whole time 5/ Another classic strategy is to go "delta" neutral and take a long on one perp platform and take a short on another platform of the same size