SoDEX perps: mainnet markets, SoPoints incentives and SOSO token rights

The perp venue is one product inside a larger ecosystem

SoDEX's current trading guide documents order-book spot and perpetual markets and says order placement is available on mainnet. The official REST reference gives different mainnet paths for perps and spot. SoSoValue is the parent ecosystem, ValueChain is infrastructure and the SoDEX web interface is a way into the exchange. Adding a SoSoValue parent total to a SoDEX Perps child total, or counting the interface as another venue, would repeat activity.

The mainnet perps symbols endpoint returned code 0 and 99 instrument records at 2026-10-06T12:03:00.447Z. Of those, 92 carried the API status TRADING and seven HALT. A separate BTC-USD recent-trades response at 2026-10-06T12:04:09.693Z returned five trade rows. PerpsAtlas archived the exact raw responses with SHA-256 hashes 8fed6b3812dfd1c74b6f42f0b88ac7f6b25ccd7d9a6c4f8baf555a6b2dcaf51f and 7365781ea48dd80abf27d3279c0d4dd7019bbaa54b5ab84356386aff03d311b4, respectively. These observations establish what the public API reported at retrieval time. They do not audit settlement, prove continuous availability or provide a 30-day venue total.

Sources: SoDEX trading guide: mainnet spot and perp markets ↗ · SoDEX REST reference: distinct mainnet perps and spot endpoints ↗ · SoDEX mainnet perps symbols: raw response captured 6 October 12:03 UTC ↗ · SoDEX BTC-USD recent public trades: raw response captured 6 October 12:04 UTC ↗

Why a live ticker is not a comparable 30-day series

The perps API describes tickers as rolling 24-hour statistics and also documents per-symbol candles and recent trades. A 24-hour rolling value can overlap an adjacent sample; adding daily samples of those values would double-count parts of trading. Historical candles could help, but a reconstruction still needs their exact quote-volume definition, UTC interval boundaries, retention limits, all markets that existed on each date and explicit treatment of halted or removed instruments. Today's 99-symbol inventory cannot alone prove the past market cohort.

DefiLlama lists SoDEX Perps separately from SoDEX Spot. Its perps page defines notional trading volume, perp trading fees, protocol revenue after referral payouts and a holder-revenue field. Those are provider-reported categories, not a transaction-level reconciliation by PerpsAtlas. We do not put dynamic provider numbers beside the archived API snapshot as though the times or product scopes match. Open interest also needs a consistent contract unit, mark-price convention and common observation time before it becomes a cross-venue comparison.

Sources: SoDEX perps market, ticker, candle and trade endpoint reference ↗ · DeFiLlama SoDEX Perps scope and methodology ↗

The current points program can affect apparent growth

The official Season 1 points period ended on 1 August 2026. A newer Layer 1 Season began on 1 September 2026 and is described as lasting 20 weeks. Its rules award points for spot and futures trading volume and open interest, among other activities; scoring weights can change weekly. The same page describes invitation boosts and separate Treasure Box rewards. Those terms make incentive exposure material when interpreting growth in turnover, positions or users. A high volume-to-open-interest ratio alone would not establish improper trading.

The SoPoints overview says points determine allocation weight in a future SOSO airdrop. An allocation weight is not a delivered token, a fixed conversion ratio or a cash payment. To test whether activity remains durable, PerpsAtlas needs a dated series across reward changes with the spot and perp parts separated.

Sources: SoDEX SoPoints Season 1 terms ↗ · SoDEX SoPoints Layer 1 Season terms ↗ · SoDEX SoPoints overview ↗

SOSO has documented utility; realized holder cash flow is separate

Current SoSoValue token documents describe SOSO as a shared ecosystem token used for governance, ValueChain gas and a SoDEX staking fee discount. The published supply ceiling is one billion. The tokenomics document assigns 10% of that supply, or 100 million SOSO, to SoDEX and ValueChain Phase I incentives and says that allocation was released and unlocked on 6 September 2025. Released and unlocked is a stated supply event; it does not prove when each token reached a user, remained in a treasury or entered freely tradable circulation. The other allocation categories and vesting schedules also need their own executed-supply record.

For an eligible tier-0 perp taker, the current fee table lists 0.040%. A single $10,000 notional fill would therefore have a $4.00 posted trading fee before other costs. The table's 5% staking discount requires at least 30 SOSO staked and takes effect after the applicable UTC update; if active on that example fill, the fee would be $3.80. This is conditional fee arithmetic, not a complete cost quote: funding, spread, slippage, liquidation and other charges are separate. SoDEX's staking FAQ says staking routes through SSI Earn and pays no direct staking yield. The fee documentation lists several possible uses of collected fees but does not grant SOSO holders a fixed share of all perp revenue. A provider's holder-revenue field cannot substitute for an executed-flow ledger.

Sources: SoSoValue current SOSO token documentation ↗ · SoSoValue current SOSO allocations and release terms ↗ · SoDEX current trading fee and staking-discount schedule ↗ · SoDEX SOSO staking FAQ ↗ · DeFiLlama SoDEX Perps scope and methodology ↗

What would allow a ranking entry

The next data step is a raw-archived daily perp-market inventory and exact UTC candle series, including delistings and source-empty days. Volume, open interest, fees and any holder-directed transfers must be verified on the same product and period before ratios or growth directions are shown. The current Layer 1 Season should be marked as an incentive window; a post-incentive observation is not yet available. The SoDEX Perps listing is a candidate record, not a promoted 30- or 90-day ranking figure.

A reader considering a trade should distinguish exposure to a perpetual contract from owning SOSO. Buying SOSO gives the documented token utilities, subject to current rules, but it does not itself create the position's profit and loss or a contractual claim on every exchange fee. The official trade destination and eligibility terms should be checked at the time of use.

Sources: SoDEX REST reference: distinct mainnet perps and spot endpoints ↗ · SoDEX perps market, ticker, candle and trade endpoint reference ↗ · SoDEX SoPoints Layer 1 Season terms ↗ · SoSoValue current SOSO token documentation ↗ · SoDEX current trading fee and staking-discount schedule ↗

What we monitor next

• Archive daily mainnet perp market inventories, candle boundaries and missing-day reasons before computing 30/90-day totals.
• Reconcile perps-only provider fees and revenue with rebates, referrals and any observed SOSO-directed transfers over matched periods.
• Annotate the Layer 1 Season and later reward changes before interpreting retained users, volume or open interest.

Frequently asked questions

Is SoDEX an active perpetual venue?

Its official docs provide a mainnet perp API, and a 6 October public response reported 92 TRADING-status instruments plus recent BTC-USD trade rows. That verifies a reported current product, not settlement quality or a complete historical total.

Does SOSO receive all SoDEX perp revenue?

No such fixed right is established by the current terms reviewed. SOSO has documented ecosystem utilities and an eligible staking fee discount; any holder-directed cash flow needs an executed-flow record.

Are SoPoints the same as SOSO tokens?

No. Current terms describe points as a weight in a future allocation and offer separate rewards. They are not delivered SOSO or a fixed token exchange ratio.

Compare the evidence

Related research

• Why perp DEX volume can grow while the token lags →

Source register

1. SoDEX trading guide: mainnet spot and perp markets · checked 2026-10-06
2. SoDEX REST reference: distinct mainnet perps and spot endpoints · checked 2026-10-06
3. SoDEX perps market, ticker, candle and trade endpoint reference · checked 2026-10-06
4. SoDEX mainnet perps symbols: raw response captured 6 October 12:03 UTC · checked 2026-10-06
5. SoDEX BTC-USD recent public trades: raw response captured 6 October 12:04 UTC · checked 2026-10-06
6. DeFiLlama SoDEX Perps scope and methodology · checked 2026-10-06
7. SoDEX SoPoints Season 1 terms · checked 2026-10-06
8. SoDEX SoPoints Layer 1 Season terms · checked 2026-10-06
9. SoDEX SoPoints overview · checked 2026-10-06
10. SoSoValue current SOSO token documentation · checked 2026-10-06
11. SoSoValue current SOSO allocations and release terms · checked 2026-10-06
12. SoDEX current trading fee and staking-discount schedule · checked 2026-10-06
13. SoDEX SOSO staking FAQ · checked 2026-10-06