How I actually evaluate a perp DEX before farming — 5 dimensions, no hype: 🧪 Execution model — on-chain orderbook (CLOB) vs AMM/oracle. CLOB = tighter spreads, real price discovery. Custody — self-custody vs pooled/off-chain. Non-negotiable for on-chain. Yield quality — real fee-sharing vs pure emissions. Emissions fade; fees don't. Incentive clarity — total points, allocation %, season timeline, TGE path. Asset breadth + shipping cadence — how fast new markets land. Scoring @AFX_XYZ: on-chain CLOB ✅, self-custody ✅, ~11.44% real-yield vault ✅, 10M pts / 65% community / clear seasons ✅, actively listing (ETHUSDC latest) ✅. Same framework works on any DEX. Run it yourself. NFA. 👉 https://app.afx.xyz/?src=bn3