| Perp DEX OG | Sharing Insights, Thoughts, and Articles | Product Design Background | Building the most User-focused Trading Platform @popdex_
Joined August 2019
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- Following1.2K
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Excited to announce I’ve joined the @popdex_ team!
Most new Perp DEXs are extractive, and that’s exactly why so many of them fail.
PopDEX flips that completely - 100% Value Returned to our Users.
So far in Closed Beta we have given out 5 rounds of cash rewards, and have just announced a new $150,000 prize pool launching with Open Beta - coming soon!
I’ve been involved with Perp DEXs since mid-2024 as a Trader and Affiliate, and I've worked as a Product/UIUX Designer outside of Crypto. PopDEX is where this all comes together.
Backed by a $30M raise from @ForesightVen we've got the tools to build the most user-focused Perp DEX there is.
I'm looking for top traders to use the platform and give me honest feedback about where we can improve. Got an audience too? Even better! Let's talk about building PopDEX together - by the users, for the users!
DMs Open!
So it looks like I was right and wrong at the same time
In retrospect, the market always seems to find a way of liquidating the most people possible
If you don't want to try time things, just buy SPOT and chill
If you want to trade, at least do it where there is upside on top of trading (@popdex_ 👀)
I'll look to accumulate more SPOT around the other 'shoulder' of this chart
I do have some leveraged longs open, in a bit of loss now, but I made sure that liquidations are low enough when I was buying (max 3x leverage) that in the case that we dumped into this scenario, I'd be fine (probably)
E.g. $ZEC liquidation price is below $500, $HYPE below $50, etc
Previously I tended to find that my trades ended up correct in the long term, but I often used too much leverage and find it hard to see them through
Trading style adapted accordingly
Here are my thoughts on Bitcoin's price action, and exactly how I'm positioning in the wider market based on different scenarios:
I've charted the likely bear scenario for $BTC (imo)
Reverse 'head and shoulders'
My buy range would be around the first shoulder (I'm completely unexposed to BTC currently to be honest, so I'd be happy with this playing out)
Like I previously talked about, I took a lot of profits on short-term high-leverage trades, plan now is to accumulate more if we dip
In the scenario that we rip past $82k, I already have exposure to alts in my low-leverage ZEC positions, holding spot $HYPE (still from the airdrop), and I'd count my 5,000+ Variational Airdrop Points as good exposure too (along with some other airdrops).
TLDR, I am exposed if BTC breaks through this level and starts the bull run.
I'm telling you about my personal circumstances here because your individual scenario for how you play this should be based on your personal exposure, risk limit, and your own thoughts.
If we get this BTC dip, I'll be buying spot and low leveraged BTC positions. I'll also be building more long-term low-leverage altcoin perp positions
I'll look at what coins have performed well in this recent market pump; $NEAR, $VVV, $LIT, $HYPE, $CHIP, $ZEC, and maybe a couple more (will need to more research on areas I've missed)
Its also a good idea for you to create a watchlist of coins you want to buy, so if the opportunity comes you are ready to act fast
I've got a long term bag of $ZEC at 3x leverage that I'm really happy to just hold and not get shaken out of. I've found comfort in not constantly watching the chart, knowing I'll not likely hit the liquidation price ($300), and my trade time horizon is months and months, if not 1-2 years
Its allowed me to trade better elsewhere too as I'm not stressed to constantly be buying at every moment. Would highly recommend! The same with taking profits and having cash ready for dips.
No matter the scenario that plays out, this plan is structed for success long term
Hopefully you got some value here, feel free to lmk how my thought process compares to yours!
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$500k given to early users, now another $150k seeded into the new reward pool!
This perfectly exemplifies our community-focused approach at @popdex_
What does this mean for you?
With the launch of our Open Beta, MegaPop is now live!
Top prize is currently over $66,000, and will grow over the week
Trade, earn tickets, and check your rewards each week - the first drop is on Monday at 3am UTC
It's a great USP - no more waiting months & years to see if you'll be rewarded, instead our 100% Value Return Framework is designed to flow back into the pockets of those who help PopDEX grow - you, the community!
We are only just getting started, and I'm really excited for what's to come - stay tuned for more announcements soon!
Check out our rewards page for more information here:
app.popdex.xyz/megapop
Callum retweeted
What's Popping with @popdex_???
We're live with @sunlearnstorock Head of BD at @BitgetWallet and @bryan_0x from PopDEX!
With early power users @ilhanEdu, @myAlphaDrops, @deTEfabulaNar_, @sam6170, @AirdropDuyuru, @givenoxbt, @CallumOnCrypto, @eferbarn
nitter.gq/i/spaces/1nxnRBpQWdLxO
It's sad to see another big Perp DEX shutting down
With points programmes, you MIGHT get rewarded many months/years down the line (that's only IF they launch AND are successful at flowing value back to the token - both becoming increasingly rare)
With @popdex_'s 100% Value Return, there are continuous rewards for users - no more hoping your loyalty pays off eventually
PopDEX aims to be the most user-focused Perp DEX
That's why I decided to join the team
I strongly believe in building the product around our users and rewarding the people who make can make the product a success
If you feel you are aligned and want to discuss working together - DM me
I'm not looking for people just to spam ref links around, I want affiliates who are interested in trading, providing real product & UIUX feedback, and are aligned with our vision.
If this fits you, and you have a strong trading following, reach out to me
If you just want to get started trading, you can join here:
app.popdex.xyz/en/referral?r…
Big rewards to come - we just announced that $150k from the team will be seeded into the MegaPop prize pool
Will share more info on this soon!
Callum retweeted
People are sharing all sorts of views on Variational's post-TGE price action
Here's my thoughts:
Much of it is based on phycology - and I think looking back at HYPE and LIT is important
1. Many Hyperliquid airdrop recipients sold early as they didn't see the vision, and didn't believe a project could be so highly valued that they got for free (still seeing many VAR point holders with max targets of $5B - people struggle to imagine earning 'unrealistically large' amount of money for 'free').
Again, this 'ceiling' is due to many people conflating their personal dollar earnings with objective valuations of where the project can go. I've talked about this before, and really think many will sell to early because of this.
This is true for other big airdrops too.
2. Many LIT airdrop recipients sold early, and kept selling, as they thought it was a bad beta to Hyperliquid. Took a while for announcements to materialise and people to build up more belief in the project - reflected in the parabola chart.
I'm seeing a lot of people expecting this same pattern with the Variational price action, but I think that won't be the case due to more variables being known (thanks to VAR airdrop recipients looking at the emerging patterns).
3. Variational points holders have had a few of the major concerns cleared up
It's established that there are far fewer runners this cycle compared to previously (k-shaped recovery).
There are a few narratives between the strongest alts, and VAR meets the criteria (TradFi, options, revenue meta, etc).
As we head into the bull market, consensus to run through 2027/28, people are wanting to accumulate these strong alts, and deploy capital, not co much recoup losses from farming etc - much of what we saw with HYPE and LIT etc. Farmers who were unprofitable trying to instantly get back into the green.
There will of course be unprofitable farmers again needing to sell. And non-believers, bears, VAR-fudders, etc looking to sell, but with the market taken into account, I think there will be no shortage of buyers.
We have recently seen many huge players emerging who are bullish on VAR. @citrini, @punk2498_, and several of the biggest Hyperliquid whales are the most recent I've seen.
Variational is positioned to capture the interest of both Crypto and TradFi investors - it's a really strong position to be in.
The game-changing partnership the team said they delayed TGE and extended their points for is almost certainly a major TradFi investor - I expect it to take Variational's Swap and Pro products to the next level, and likely draw the interest of other huge TradFi names (who all watch each other closely).
I think that the airdrop will easily be the biggest of 2026, and that again is great free marketing. I expect a very strong FDV soon after TGE, and investors to pile in more and more.
I've talked for years now about Perp DEXs following Hyperliquid to be valuable if they have;
- Useful USPs
- A focus on their community (airdrop, coms, etc)
- Community aligned tokenomics & rev (buybacks)
Variational fits this profile very well.
That's why I've been trading on Variational since ~200 users.
If you're wanting to go one step further, your takeaway from this should be to use Variational as a case study to identify projects with the same sort of potential, but at an early stage.
Look at product, but more importantly at how the team respond to feedback from you (it's much easier to contact teams than you'd think, especially if they are the sort of team you want to be supporting).
Read the docs, test the product yourself, ask questions, consider PMF, research team, study roadmaps etc.
The difficulty now is weeding out the projects that are trying to farm you, and discovering the community-aligned AND FUNCTION USEFUL & UNIQUE products.
I have turned down 99% of partnerships from Perp DEXs & similar projects, but there are still some projects with big potential out there
Same as always - be unemotional, be curious, and iterate quickly
People are sharing all sorts of views on Variational's post-TGE price action
Here's my thoughts:
Much of it is based on phycology - and I think looking back at HYPE and LIT is important
1. Many Hyperliquid airdrop recipients sold early as they didn't see the vision, and didn't believe a project could be so highly valued that they got for free (still seeing many VAR point holders with max targets of $5B - people struggle to imagine earning 'unrealistically large' amount of money for 'free').
Again, this 'ceiling' is due to many people conflating their personal dollar earnings with objective valuations of where the project can go. I've talked about this before, and really think many will sell to early because of this.
This is true for other big airdrops too.
2. Many LIT airdrop recipients sold early, and kept selling, as they thought it was a bad beta to Hyperliquid. Took a while for announcements to materialise and people to build up more belief in the project - reflected in the parabola chart.
I'm seeing a lot of people expecting this same pattern with the Variational price action, but I think that won't be the case due to more variables being known (thanks to VAR airdrop recipients looking at the emerging patterns).
3. Variational points holders have had a few of the major concerns cleared up
It's established that there are far fewer runners this cycle compared to previously (k-shaped recovery).
There are a few narratives between the strongest alts, and VAR meets the criteria (TradFi, options, revenue meta, etc).
As we head into the bull market, consensus to run through 2027/28, people are wanting to accumulate these strong alts, and deploy capital, not co much recoup losses from farming etc - much of what we saw with HYPE and LIT etc. Farmers who were unprofitable trying to instantly get back into the green.
There will of course be unprofitable farmers again needing to sell. And non-believers, bears, VAR-fudders, etc looking to sell, but with the market taken into account, I think there will be no shortage of buyers.
We have recently seen many huge players emerging who are bullish on VAR. @citrini, @punk2498_, and several of the biggest Hyperliquid whales are the most recent I've seen.
Variational is positioned to capture the interest of both Crypto and TradFi investors - it's a really strong position to be in.
The game-changing partnership the team said they delayed TGE and extended their points for is almost certainly a major TradFi investor - I expect it to take Variational's Swap and Pro products to the next level, and likely draw the interest of other huge TradFi names (who all watch each other closely).
I think that the airdrop will easily be the biggest of 2026, and that again is great free marketing. I expect a very strong FDV soon after TGE, and investors to pile in more and more.
I've talked for years now about Perp DEXs following Hyperliquid to be valuable if they have;
- Useful USPs
- A focus on their community (airdrop, coms, etc)
- Community aligned tokenomics & rev (buybacks)
Variational fits this profile very well.
That's why I've been trading on Variational since ~200 users.
If you're wanting to go one step further, your takeaway from this should be to use Variational as a case study to identify projects with the same sort of potential, but at an early stage.
Look at product, but more importantly at how the team respond to feedback from you (it's much easier to contact teams than you'd think, especially if they are the sort of team you want to be supporting).
Read the docs, test the product yourself, ask questions, consider PMF, research team, study roadmaps etc.
The difficulty now is weeding out the projects that are trying to farm you, and discovering the community-aligned AND FUNCTION USEFUL & UNIQUE products.
I have turned down 99% of partnerships from Perp DEXs & similar projects, but there are still some projects with big potential out there
Same as always - be unemotional, be curious, and iterate quickly
IMO it'll be a bid different compared to HL/LIT as many people are expecting a bull-run for the next year or two
That will probably lead to some would-be jeeters holding
But I do think, based on how many "I'm going to make (x) hundred thousand dollars" at 2-3b FDV posts, that many people will sell too early
Many expecting a lighter-style parabola will sell hoping to buy lower
Probably will end up buying back higher
I don't see many other projects with so many bullish factors to come
I've not seen many people talking about the $5b+ FDV scenario
If everyone on the timeline has sold by then, it's extremely bullish imo
We saw how much of the initial HYPE airdrop changed hands close to TGE. Take a look at how that played out
I think many people struggle to believe they could make life changing gains from an airdrop, so sell based on perceived value in relation to other things (salaries etc), rather than looking objectively in crypto terms
Im interested to hear thoughts on this.
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Callum retweeted
Bit of Alpha for you guys:
"Everyone should be excited for October...
If you want to get that early activity, you have to do so within the Closed Beta before we reach Open Beta" 👀
"There's going to be retroactive rewards, stay tuned for the whole mechanics review"
Huge rewards and big news coming for early users at @popdex_
Access & max rebates ↓
app.popdex.xyz/en/referral?r…
PopDEX is the only new Perp DEX I've been excited about for a long time
The last alpha this good I have shared previously was early 2024 when I posted about Variational when they had 200 users...
Got some exciting news to share soon too, stay tuned!
Bit of Alpha for you guys:
"Everyone should be excited for October...
If you want to get that early activity, you have to do so within the Closed Beta before we reach Open Beta" 👀
"There's going to be retroactive rewards, stay tuned for the whole mechanics review"
Huge rewards and big news coming for early users at @popdex_
Access & max rebates ↓
app.popdex.xyz/en/referral?r…
PopDEX is the only new Perp DEX I've been excited about for a long time
The last alpha this good I have shared previously was early 2024 when I posted about Variational when they had 200 users...
Got some exciting news to share soon too, stay tuned!
Huge news from Variational
- 32% airdrop, Q4
- Huge partner incoming (worth delaying for)
- Points extended
- You have more time to farm a now more valuable airdrop
~$155 per point at Lighters current FDV
15% Points Boost ($155/point + $23 extra)
omni.variational.io/?ref=OMN…
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It's finally happening!
The ticket is $JUMP
waitlist.jumper.xyz/r/JMP-BB…
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Another round of rewards were just airdropped!
The highest recipient got $8,000
1 more airdrop during closed beta is coming to you if you trade >$150k on @popdex_
I've ran my account from $800 → $2,920 through trading and rewards so far!
Link:
app.popdex.xyz/referral?refe…
Round 4 of the PopDEX rewards has been airdroped.
For trader&contributor rewards, this round covers activity from Sep 6 to Sep 20. Users with $150K+ cumulative trading volume were eligible.
Top reward: 8,000 USDT.
For Meme Gang War rewards, Robinhood Gang takes it with 25% positive-PnL traders. 👉🏻 popdex.org/gang-war
The top 50 traders by volume in Robinhood Gang shared the winner rewards, with the top reward reaching 1,000 USDT.
Plus: 1,000 USDT bonus pool shared by 51 $PONS / $CASHCAT traders.
Check your PopDEX portfolio. 👀
Callum retweeted
Make sure to register for the @jumperapp waitlist
If this does end up being the airdrop, you absolutely don't want to miss it
Jumper was one of my first ever 'airdrop farms' but I then ended up using it organically over the years
The timing is perfect
waitlist.jumper.xyz/r/JMP-BB…
Make sure to register for the @jumperapp waitlist
If this does end up being the airdrop, you absolutely don't want to miss it
Jumper was one of my first ever 'airdrop farms' but I then ended up using it organically over the years
The timing is perfect
waitlist.jumper.xyz/r/JMP-BB…
It's always great to see innovation by the Hyperliquid community!
This new project, @Icebergdotcash, is a big step forward for Prop Firms (built by @Pasta_Capital)
Here are the USPs, potential airdrop info, and how you can get started trading with big capital!
- No challenge to get funded, just purchase an account and you can start trading, no more time wasting
- Decentralised pay-out system (via smart contracts), meaning you can't have payments blocked such is the case on some 'centralised' prop firms. No KYC too.
- Super clean UI/UX
- Trading competitions coming soon
- Keep 80% of the profits
Here's where you may find it even more interesting:
- Earn points through activity
- Use points for discounts on further plans
- Feel free to speculate on additional benefits in the future 👀
Currently the available plans are $5k, $10k, and $25k, which cost $167, $337, and $767 respectfully.
$50k and $100k plans coming soon!
There is also a $5k practice account you can test to better understand the product if you want to 'try before you buy'
Iceberg just launched today, so it's a great opportunity to be early to a fantastic new product
With the $83k level on bitcoin just broken, in my opinion now is the perfect time to go full risk-on with your trading, and Iceberg is the perfect product to enable you to trade big, with little capital investment
As one of the first affiliates, you'll get some nice benefits by signing up using my code:
iceberg.cash/?ref=CALLUM
- 10% points boost
- 5% discount on your first purchase
No more 'SOON', our app is LIVE!
Get funded now with NO KYC and receive double points during launch week 🧊
app.iceberg.cash/
Already FOMO'ing that I didn't ape more
But Taiki would say that price going up is thesis validation, so now you should buy more 👀
Invest not only in products, but also in people
I've invested a few percent of my portfolio into @pear_protocol
@hufhaus9 has been relentlessly building Pear throughout the bear market, carved out a relevant niche for his product, and continues to innovate
I split my funds between the new Pear Protocol Vault, and in the token $PEAR - already up 25%, but I think we are just getting started as FDV is $16m and its set up to be a revenue machine
I'll do a larger post on Pear soon - I definitely think its under the radar right now
💡
TLDR:
"It enables long/short perp trading with leverage, with an AI co-pilot, statistical tooling, and multi-venue routing doing the heavy lifting."
And for the vault:
"You deposit. Agent Pear finds pair trades, sizes them, opens them and closes them, around the clock - 2,884 of them so far.
Until now, you had to act on those signals yourself. The vault acts on them for you. It runs on the signals Agent Pear already publishes for free"
The $1m cap on the Vault has been reached, but I imagine they will open again in a matter of time.
This will be a longer hold for me. If the bull is going to last into 2028, I think Pear Protocol can really cook here, everything is in place for a very strong performance (Both the vault and the token).
I didn't realise there was a ref programme, but if anyone is interested in trying out the product, feel free to use my invite:
app.pear.garden/trade?referr…
I'd really recommend to look more into Pear: docs.pear.garden/
Invest not only in products, but also in people
I've invested a few percent of my portfolio into @pear_protocol
@hufhaus9 has been relentlessly building Pear throughout the bear market, carved out a relevant niche for his product, and continues to innovate
I split my funds between the new Pear Protocol Vault, and in the token $PEAR - already up 25%, but I think we are just getting started as FDV is $16m and its set up to be a revenue machine
I'll do a larger post on Pear soon - I definitely think its under the radar right now
💡
TLDR:
"It enables long/short perp trading with leverage, with an AI co-pilot, statistical tooling, and multi-venue routing doing the heavy lifting."
And for the vault:
"You deposit. Agent Pear finds pair trades, sizes them, opens them and closes them, around the clock - 2,884 of them so far.
Until now, you had to act on those signals yourself. The vault acts on them for you. It runs on the signals Agent Pear already publishes for free"
The $1m cap on the Vault has been reached, but I imagine they will open again in a matter of time.
This will be a longer hold for me. If the bull is going to last into 2028, I think Pear Protocol can really cook here, everything is in place for a very strong performance (Both the vault and the token).
I didn't realise there was a ref programme, but if anyone is interested in trying out the product, feel free to use my invite:
app.pear.garden/trade?referr…
I'd really recommend to look more into Pear: docs.pear.garden/