According to Evgeny Gaevoy, the real issue in crypto derivatives is not perpetual futures design but centralized and quasi decentralized exchanges that act as prime broker, central limit order book and custodian in a single venue, which drives the core market structure risk for traders, source: Evgeny Gaevoy. Gaevoy adds that traditional finance solved these structural problems long ago and argues attention should shift from tweaking perp design to fixing the exchange role combination, source: Evgeny Gaevoy.

According to @ThinkingUSD, a permissionless onchain central limit order book for equities is now offering 24/7 trading, including weekends, positioning it as a unique venue for global access to tokenized stocks, source: @ThinkingUSD on X, Oct 25, 2025. @ThinkingUSD states the capability is integrated into a native front end and anticipates a significant rerating of platform buybacks and fee revenue over the remainder of the year, source: @ThinkingUSD on X, Oct 25, 2025. @ThinkingUSD adds that he has repurchased his exposure, signaling his bullish view on revenue capture tied to this onchain equities market, source: @ThinkingUSD on X, Oct 25, 2025. Traders can monitor weekend liquidity, spreads, and onchain volumes on venues matching this description to validate fee accrual and any buyback activity that @ThinkingUSD expects, source: @ThinkingUSD on X, Oct 25, 2025.

According to @ThinkingUSD, trading on the blockchain through Automated Market Makers (AMMs) is a failed experiment, with focus shifting to performant and liquid Central Limit Order Books (CLOBs) as the only significant trading mechanism. This statement suggests that traders should prioritize platforms with efficient CLOBs for better liquidity and performance.