Ostium is a modern perps DEX on Arbitrum specializing in trading real-world assets (RWAs) on-chain, recently boosting its total value locked (TVL) from $5.5 million to $53.6 million thanks to a new rewards program. Unlike traditional tokens, Ostium utilizes synthetic assets with prices tracked by innovative oracle systems for both RWAs and crypto assets. Ostium’s trading volume peaked at $938 million recently, and assets traded include a mix of crypto, forex, commodities, and market indices. Ostium differentiates itself from competitors like Hyperliquid through a two-tiered liquidity model, which allows liquidity providers to benefit from increased trading volume rather than just losses. This model is designed to create a more collaborative trading environment. Instead of adopting a central limit order book, Ostium uses a pool-based design to enhance liquidity and mimic off-chain prices through oracles. As the DEX landscape evolves, questions remain about the willingness of crypto traders to shift from traditional exchanges to trade RWAs and commodities on-chain.

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