An online voice chat inadvertently witnessed the final battle of a revolutionary DEX.

Author: Kermit

In the cryptocurrency space over the years, we've seen quite a few projects claiming to be the "next hundredfold coin" or "disruptive DEX." By the end, I could only smile and keep watching the market. However, recently something called QuBit DEX came onto my radar. After doing some research, several of its characteristics gave me pause.

Guess what? I think this might not be just another short-lived "farm," but a real player that wants to go all the way at the table.

Why do I say QuBit DEX is different? Because they have figured out the endgame.

What are most DEXs still struggling with? Lower slippage, faster transactions, and better UI. That's right, these are all very important, and Hyperliquid has already proven that "experience is king." But these are just entry tickets, not a moat. When everyone starts copying each other, the real winners are the ones who think about what comes after the next two steps.

I spent some time studying their white paper. I can say with a hint of excitement that QuBit DEX is like that student who initially had average grades but has been quietly focusing on "Olympiad problems." What they are aiming for is the conclusion of the DEX war: capital efficiency and survival across cycles.

The Iceberg Under the Water: Don't Just Look at Trading, But at the Art of Market Making

This is what I admire most about QuBit DEX. The founder KY revealed almost all the cards during a Twitter AMA: he said that the core behind liquidity is "clever market-making techniques."

What does this sentence mean? It means that they are not satisfied with just being a "casino" that attracts retail investors to trade; what they want to be is the "house" that controls the odds and manages the risks. I checked, and among their founding team, there are tough individuals who have been market makers for top CEXs five years ago. This is completely different.

This explains why they dare to create their own L1 chain and why they want to integrate zero-knowledge proof technology. All of this is not for show, but to create an extremely efficient and low-latency environment that allows their complex, institutional-level market-making and hedging strategies to run perfectly. While other DEXs are still worried about impermanent loss, QuBit DEX is focused on how to hedge risks in the global market and steadily earn profits. This is the true skill that can attract big money.

Source: @Moon1ightSt's Twitter

Bear Market's "Noah's Ark": RWA + AI

Alright, we've talked about the hardcore stuff, now let's discuss something practical. In a bull market, even pigs can fly, but when a bear market arrives, it's clear who is swimming naked. Whether a DEX can survive a bear market is the true test of its value.

The CEO of QuBit DEX, KY, discussed the following several points with other attendees, which I think are very insightful:

Real World Assets (RWA): This is the biggest discussion hotspot globally this year. When the entire cryptocurrency market is falling, where do you put your money? QuBit DEX presents an idea: to buy real assets that have little correlation with currency prices, such as tokenized products of bonds and real estate. This is equivalent to building a Noah's Ark for you during a bear market. This is not just a function, it is a paradigm.

Personalized AI Trading Assistant: While other companies' AIs focus primarily on intelligent customer service, QuBit DEX suggests that AI could be your "personal analyst." The scenario described by KY is very specific: you throw in a candlestick chart, and the AI helps you with technical analysis; you post a tweet, and the AI helps you analyze market sentiment. This is empowering retail investors with tools that were previously only available to institutions.

From the perspective of DEX, these two viewpoints suggest that DEX is no longer just a trading platform. Instead, it has the opportunity to become an "asset management platform" that can provide value to users in any market cycle.

QuBit DEX vs. GMX/Hyperliquid?

I know you're probably wondering how it compares to the current leader.

To be honest, in terms of user base and trading volume, QuBit DEX is still a younger player, and there is still a long way to go. However, their approach is completely different. If GMX pioneered decentralized derivatives and Hyperliquid took user experience to the extreme, then QuBit DEX is targeting something more fundamental and core—the construction of financial infrastructure.

What they are doing is something slower and more difficult, but once completed, the moat will also be deeper.

Final Thoughts

I won't say that QuBit DEX will definitely succeed; nothing in the crypto world is 100%. However, from my observations, they possess all the potential to become top players: a team with successful experience, a strategy that understands the endgame, and the determination to take the difficult path.

You can say I have bias, but after watching it, I personally have a very optimistic view of this project. I strongly recommend you not to just listen to me, but to do your own research and form your own judgment.

After all, finding such a seed player at the next table is more important than anything else.