ngl just stumbled onto a new perp dex called AFX

early-stage, on-chain orderbook, perp-first
checked the architecture vs HL — basically the same playbook

HL is priced for the sky rn
AFX is sitting at $50M FDV. that's 84x lower than HL's TGE valuation

might just be alpha, might be nothing — but the floor is low

opened a small bag to test, why not
worst case I waste a weekend. best case I'm early on the next big perp dex
https://app.afx.xyz/?src=bn