POPA ReconBattle of the Tokenless Perps: Nado vs Extended
Battle of the Tokenless Perps: Nado vs Extended Two pre-TGE perp DEXs racing toward their token launches, both running active points seasons right now. Extended dominates on size - $151M TVL, $302M open interest, $8.12B in 30-day volume, and 117 trading pairs vs Nado's 53. It also leads on fees, pulling $1.98M over the last month against Nado's $1.48M. Meanwhile, Nado's points are valued higher on OTC markets - trading at $1-2 each vs Extended's $0.5-1 - even with a tighter 950K weekly cap against Extended's 1.2M. The market is pricing Nado's airdrop expectations richer despite the smaller…
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