Been looking at $ARQ and the setup is actually interesting.

Pump.fun made token launches permissionless.

Arqen is trying to do the same thing for perps.

Launch a token → bootstrap a maker pool → launch your own perp market.

No begging centralized exchanges for listings or paying upfront fees.

V1 is already live with 1K+ users.

If they execute, this could become key infrastructure for Solana's long tail.

$ARQ is on the watchlist. Early stage but the model makes sense.