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![fictiondharme Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1684228143736061952.png) ✦ dharme(Ø,G).ink [@fictiondharme](/creator/twitter/fictiondharme) on x XXX followers
Created: 2025-07-20 01:55:39 UTC

4️⃣ Why AMM-based perps can’t compete:

Protocols like GMX use AMM models for perps.
Problem? Slippage, lack of deep liquidity, and LPs bearing trader risk.
dYdX uses a decentralized order book.

This allows:
Precision matching
Deep liquidity
Real CEX-like trading


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1946750821355643175/c:line.svg)

**Related Topics**
[decentralized](/topic/decentralized)
[slippage](/topic/slippage)
[gmx](/topic/gmx)

[Post Link](https://x.com/fictiondharme/status/1946750821355643175)