Perpl, a decentralized perpetual futures exchange (perps DEX), has secured $9.25 million in funding from Dragonfly and other investors including Ergonia and Brevan Howard. The company aims to launch its testnet by the end of 2025. Co-founder PB shared insights on the strategic decision to operate out of London, citing regulatory uncertainty in the U.S. as a key factor. While Perpl currently focuses on international markets, it remains open to entering the U.S. market if regulations evolve. Perpetual futures are gaining traction in the crypto space, with exchanges, such as Coinbase, expanding their offerings. PB emphasizes the simplicity of perps compared to options, noting that they provide a more streamlined trading experience by consolidating liquidity. Perpl plans to leverage Monad’s EVM architecture for its on-chain central limit order book but will have to wait for Monad’s mainnet launch. PB expressed optimism about their fundraising enabling them to sustain operations while awaiting testnet and mainnet developments.

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