SunPerp Emerges as Key Player in Perp DEX Boom

HTX Research, the research division of global crypto exchange HTX, has published a new report titled “From AMM to CLOB: The 2025 Perpetual DEX Boom, Competitive Reshuffle, and SunPerp’s Upward Curve.” The analysis provides an in-depth exploration of the rapid growth and evolving dynamics of perpetual decentralized exchanges (Perp DEXs).

In 2025, the Perp DEX landscape underwent a major transformation, marked by record-breaking trading volumes and unprecedented user participation. Advancements in Central Limit Order Book (CLOB) infrastructure and enhanced Layer-1 scalability have significantly bridged the performance gap between decentralized and centralized exchanges.

While platforms such as Hyperliquid and Aster drove early momentum, HTX Research notes the rapid ascent of SunPerp — a platform distinguished by its superior speed, cost-effectiveness, and seamless integration within its broader ecosystem.

SunPerp, TRON’s first native perpetual DEX, is purpose-built to leverage the network’s exceptional transaction throughput and robust USDT liquidity. With approximately $80 billion in USDT circulating on TRON, SunPerp utilizes this foundation to offer a seamless, gasless trading experience, a breakthrough for on-chain derivatives platforms of its scale.

Since its public beta launch on September 9, 2025, SunPerp has achieved remarkable growth. In just five weeks, it surpassed $1.8 billion in cumulative trading volume and attracted over 20,000 users without relying on token incentives or heavy marketing. Its momentum has been driven by genuine user adoption and strong fundamentals, rather than speculative trends.

SunPerp distinguishes itself through a hybrid architecture that combines off-chain order execution with on-chain settlement, fortified by zero-knowledge proof (ZKP) technology to ensure both privacy and security.

Its high-performance matching engine achieves sub-millisecond latency, while supporting an extensive array of order types — including market, limit (FOK/GTC/IOC), post-only, trailing stop, and TWAP — catering to the needs of high-frequency and algorithmic traders alike.

Beyond performance, SunPerp enhances market stability through its advanced Auto-Deleveraging (ADL) mechanism and a transparent, independently funded insurance reserve. These features address key vulnerabilities faced by perpetual DEXs during periods of volatility, providing institutional and retail traders with stronger, more dependable risk management.