Hyperliquid and LeverUp are both on-chain perpetual venues, but they're built on different chains, different execution models, and different liquidity architectures. Here's an objective look at how the two designs actually differ.
Trading on LeverUp doesn't happen in isolation — it sits inside a broader Monad ecosystem of wallets, bridges, stablecoins, portfolio tools, and other DeFi protocols. Here's how the pieces around your trading activity fit together.
LeverUp V2 continues to run smoothly post-launch, with reported 7D volume up 651.2% WoW to $279M+ as trading activity picked up sharply following the upgrade.
LeverUp V2 is officially live — a full rebuild of the trading experience with a new UI, merged positions, multiple TP/SL, gasless 1-click trading, Agent Wallet, and Mera passkey account support.
Eight months after mainnet, Monad has crossed $1.4B in TVL, 150+ apps, and top-15 DEX volume rankings. A look at the numbers behind the ecosystem — and the growing role perpetuals are playing in it.
Yield farming and perp trading are often treated as separate worlds — passive capital versus active speculation. They're better understood as two different answers to the same question: what are you actually getting paid for?
Perp DEX volume hit record highs in 2026, but market leadership keeps changing hands. That instability is a signal about what actually determines who wins — and it's still unsettled.
Passive LP pools and protocol-managed liquidity aren't the only two ways to run a perp DEX. A third architecture — professional market makers operating a privately-run pricing engine — is emerging on Solana. Here's how it works, and why it answers a different question than the other two.
LeverUp unveiled a first preview of V2 — a full rebuild of the trading experience with merged positions, multiple TP/SL, Agent Wallet, and gasless 1-click actions — while Monad co-founder Keone Hon highlighted LeverUp's ecosystem standing.
FTX collapsed because customer funds ended up in accounts a centralized exchange could move at will. On-chain trading is built to remove that specific failure mode.
Before you can trade on LeverUp, you need a wallet connected to Monad. Here's the full setup — from installing MetaMask to opening your first position.
A spot DEX lets you swap one token for another. A perp DEX lets you trade a price direction without holding the asset at all. The two run on genuinely different mechanics — here's how.
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