When it comes to Perp DEXs, people often think they're a new concept that only became popular recently. But there's actually a protocol that started laying the groundwork as early as 2021—ApeX Protocol, which officially launched in 2022, even earlier than many of today's trending projects.

It's backed by a leading platform and has received investments from top-tier institutions like Dragonfly and Jump Trading. The team isn't large, with fewer than 80 people, but what's impressive is they've been profitable throughout the entire bear market and are now consistently ranked among the top six in the Perp DEX sector. Projects like this—low-key yet consistently delivering—are actually more worth paying attention to.