Perp DEXs are evolving fast.
#Hyperliquid and #AsterDEX made one thing clear this cycle. There is a new category of exchanges that increasingly compete with centralized venues.
But the category is still young.
Most onchain venues today expose a lot by default.
Position sizes, entries, liquidation levels, visible signals that other participants can react to.
Paradex takes a different approach.
Through zk-encrypted accounts, entries, exits, liquidation levels, and PnL stay private, effectively neutralizing trade-hunting, and front-running off visible positions.
Demand for derivatives onchain already exists. The question now is which design traders actually prefer.