Lighter 之後,「這 23 個永續合約 DEX」也許是 2026 年的「潛力股」
Written by: June, Deep Tide TechFlow
As Lighter completed its TGE at the end of 2025, the focus in the perpetual contract DEX sector has begun to shift, with the market gradually turning toward evaluating the next batch of potential token issuance projects.
From current trends, 2026 is highly likely to usher in a new round of strong launch cycles. Multiple perpetual contract decentralized exchanges remain in the pre-TGE phase, but have already launched continuous points or incentive programs and have generated substantial trading volume with genuine user participation on-chain.
For participants looking to position themselves early, understanding these projects' actual current performance is more important than simply chasing narratives.
Based on DefiLlama's perpetual contract trading volume data over the past 30 days, the following is a compiled list of currently top-ranked Perp DEXs that have not yet issued tokens, for reference and