GUIDE TO PERP DEX AIRDROPS IN 2026

Summary from the TLDR Crypto newsletter

Perpetual DEX sector volume surged from $647.6B in 2023 to over $1.2T in 2025, capturing 26% of the global perpetual futures market share as competition intensifies in the post-Hyperliquid era. Hyperliquid's dominance has declined from 70% to roughly 20% of decentralized perp trading volume as newer platforms match performance while offering lower fees and aggressive incentive programs. The competitive landscape has shifted from technological differentiation to incentive-based user acquisition, with protocols deploying substantial airdrop campaigns to bootstrap liquidity. Eight major platforms currently run active points programs, including Paradex V2 distributing 4M XP weekly with ~$220M TVL and edgeX targeting a Q1 2026 token launch.