Decibel is a fully onchain perpetuals DEX on Aptos. One deposited dollar earns vault yield, backs a perp position, and works as collateral on other dApps. It runs two revenue streams in parallel, and one of them holds when trading volume drops.

Onchain perps stopped being a rounding error this year. 24/7 price-discovery demand pulled flow toward onchain venues that stay open when CME is closed. The February 2026 Middle East escalation priced through Hyperliquid oil perps over the weekend, and CME confirmed the move on Monday. The DEX-to-CEX ratio climbed from 3.5% i