Announcing our $9.25M Funding led by DragonFly Capital

Today, we’re excited to announce our $9.25M funding round led by Dragonfly Capital, with participation from Ergonia, Mirana, BHD, Hashkey, L1D, CMS, and Breed. We’re incredibly grateful for our backers' continued belief and support as we gear up for our mainnet launch.

What We’re Building at Perpl

Perpl is a fully on-chain perpetual futures exchange built natively on Monad, a high-performance EVM blockchain. Our vision is to eliminate the inefficiency of opaque centralized financial systems by building a best-in-class pricing engine on the most performant infrastructure.

Perpl delivers on the original vision of decentralized finance without compromises. No single point of failure. No off-chain matching engine. Full verifiability. Maximal Capital Efficiency. Maximal Composability.

Catch-22 of Decentralized Trading

Perps have become the backbone of crypto trading, accounting for the lion’s share of all crypto volume. Yet despite their popularity, decentralized exchanges lag their centralized counterparts in market share, partially due to infrastructure constraints. Other projects have launched their own layer 1 to capitalize on higher throughput but sacrifice liquidity, composability, and decentralization.

By building on Monad, Perpl doesn’t have to make this tradeoff, and users benefit:

Performant CLOB: low gas, effective market making for minimal slippage
Seamless UX: fast, reliable, and deterministic transactions
Full custody: traders remain in control of their assets at all times
Censorship resistance: 100s of geographically distributed independent validators

Team & Roadmap

Our team has decades of experience building various components of the technical stack, including exchanges, high-performance hardware, developer tools, trading bots, and interoperability solutions.

With this latest funding, we’re scaling our core team, building the on-chain trading engine, developing our interface, and rigorously testing our infrastructure to ensure a best-in-class trading experience from day one.

Special Thanks

We’re particularly thankful for the support from our angels, advisors, investors, and most of all, our community members. Your belief and support in our vision allow us to bring Perpl to life.

We’re building the way it was meant to be–without compromises. Performance, usability, and decentralization can coexist, and we’re bullish on our team and Monad’s potential.

Follow our journey and stay updated by following us on X and Discord.

Excited to announce our $9.25M funding round led by @dragonfly_xyz, @ErgoniaTrading, and other leading investors.

Perpl is handcrafted with knowledge from decades of market-making expertise and advanced EVM engineering. pic.twitter.com/2dNmDnJJWt
— Perpl (@perpltrade) May 13, 2025

Points are Live

Today we are launching Perpl's first public phase of our points program, introducing weekly points distributions designed to reward organic trading activity and contributions across the protocol. How to Get Points 4 core activities reward points: * Organic trading activity. * PLP participation (soon). * Referrals (both the referrer and the referree earn points). * Bonus points (tournaments, builder codes, partnerships, IRL events, etc). Weekly Points Distribution * 50,000 total point

We built the perp DEX everyone said was impossible

Perps are a solved product with an unsolved infrastructure problem. To build the ideal perps DEX, you need three things at the protocol level: 1. fully on-chain execution 2. a true, granular CLOB 3. low gas + fast updates The problem is that every generation of blockchain infrastructure made at least one of those impossible. * On ETH L1, 12-second blocks meant you couldn't do on-chain matching. So dYdX v2 put the CLOB off-chain and only settled on-chain. Off-chain, one point of failure.

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