
StandX / Case study
StandX: $0 to $200M+ TVL in Three Months
How Surgence launched StandX's perp DEX from zero with trading creators: $200M+ TVL in three months and $2.038B in cumulative perps volume.

- TVL in three months
- $0 to $200M+
- cumulative perps volume
- $2.038B
- registered traders
- 20,000+
The Starting Point
StandX launched a perp DEX with no traders and no liquidity, the cold start every perp DEX faces. Its edge was DUSD, a yield-bearing stablecoin used as margin.
How We Grew StandX
Ran a waitlist and referral push that pulled 50,000 sign-ups in under 10 days, then opened pre-deposits.
Opened the alpha to the first 10,000 on the waitlist so access itself became something to share.
Onboarded a network of trading creators paid on volume, so every post was built to drive trades.
Timed incentive campaigns to the BNB Chain and Solana launches to hit both communities at once, with a market-maker program behind them.
Ran a World Cup™ Sweepstake with a 10,000 SOL prize pool and the SIP-4 Block Options launch to keep traders coming back.
The Results
- $100M+ TVL in the first 7 days
- $1.947B+ 30-day perps volume
- 236,000+ DUSD holders
- $81.88M open interest
- 50,000 waitlist sign-ups in under 10 days
04 / In the wild
Social Media Posts About the Campaign
The campaign, as it happened.
What StandX Said
“Every new perp DEX has the same problem on day one: no traders. Surgence found creators who actually trade and paid them on volume, and that got the order book moving faster than any marketing we'd run before.”
For Your Project
Run This Playbook for Your Project
The Trading Platform GTM Program runs on the same team and engine that grew StandX. On a 30-minute call we review where you are and say what we would run first.
Next step
Book an Intro Call
Bring your launch or growth window. On a 30-minute call we review where you are, say what we would run first, and send a written plan after.



