Perp Dex wash trading is the "emperor's new clothes," but you and I are the tailors who weave.

Say something useless to wash trade for perp dex.

1. First of all, wash trading and wash scoring are quite common in perp dex, and HyperliquidX also has organic wash trading (cex also has). Where there are incentives, there will be behavior; do not think of this as something bad - inclusiveness is the attitude that a dex should have.

Without wool, how can there be a wool sweater? Without a wool sweater, how can Kong Yiji have a long gown? Without a long gown, how can the emperor have new clothes?

2. Where does the main profit alpha from wash trading come from (pre TGE)? Essentially, it is the expectation that this token will open high during the TGE.

It is known that the project party will distribute x% of the tokens to the points holders. The number of coins is fixed, and only the price of the coin can be adjusted, which depends on factors such as listing, liquidity, chip control, market sentiment, and so on - Currently, due to the exaggerated increase of $aster , it has opened up a realm of imagination, leading to a rush of various players coming in (the perp volume of edgex and lighter has almost reached Mars).

But everyone needs to be able to distinguish - can the price of the coin rise in this version? How much can it rise? The correlation with the fundamentals/narratives is becoming less and less significant, it is about chips/daddy's calls/mechanisms/fuel etc.

Let's ponder this: Did the price of the coin rise first, leading to the narrative? Or did the narrative come first, resulting in the skyrocketing price of the coin?

3. The second consideration for wash trading profits is the denominator - where is your own score? Given that the incentive from the project party in terms of tokens is fixed, how much an individual can receive depends on their own share.

As more and more people engage in wash trading, the denominator will only get larger, which means that the points each person receives will become fewer (except for the minimum guarantee). This is actually something that the project party is very willing to see, akin to the catfish effect, continually encouraging everyone to move forward - the higher the trading volume, the higher the income. The 24h income of edgex is close to 2m now.

In addition, only professional APIs can achieve this large-scale "interaction"; ordinary people simply can't manage it (the wash trading of perpetuals is different from spot trading). Just do some low-key participation, and don't really think you can wash a single A7/A8.

4. As mentioned in 2, one of the cores of this version "high opening" is control of the supply - it’s difficult to disperse a large number of tokens at the beginning, even if they are distributed to you, there will be one-on-one guidance targeted at "whales".

5. It's not that washing trading is bad, nor that perp dex doesn't have room for imagination — but this super popular KTV room has little to do with ordinary people. Just participate appropriately, understand the market hotspots, and don't go all in.

Opportunities that are within cognition but also unexpected are what allow one to sleep peacefully.