Pyth Network

Foresight

Rewards

<p>PopDEX, a decentralized exchange for perpetual futures that describes itself as trader-first, has opened its Open Beta to the public. The launch came on October 19 and uses market data from <a href="https://x.com/PythNetwork" rel="noopener noreferrer nofollow">@PythNetwork</a>'s Pyth Pro, alongside a weekly stablecoin reward program for traders called MegaPop.</p>
<h2 id="what-open-beta-changes">What Open Beta changes</h2>
<p><cite>Open Beta removes the invite-code requirement and opens PopDEX to all users.</cite><cite>The launch follows a Closed Beta in which PopDEX processed more than $4.5 billion in cumulative trading volume and maintained about $70 million in LP pool capital.</cite> The platform's figures differ from third-party tracking: <cite>DefiLlama tracks a lower volume figure, near $1.4 billion</cite>, according to one crypto news outlet, so the numbers should be read with that in mind.</p>
<p>According to the project's announcement, <cite>PopDEX is built on Morph Tachyon, a high-performance trading Layer 1 developed by the Morph team, and operates a fully on-chain central limit order book.</cite><cite>PopDEX was incubated and backed with $30 million by Foresight Ventures.</cite></p>
<h2 id="pyth-pro-and-the-megapop-rewards">Pyth Pro and the MegaPop rewards</h2>
<p>The exchange is powered by Pyth Pro, a subscription-based market data service. <cite>Pyth Network announced Pyth Pro as a subscription service delivering institutional-grade data across cryptocurrencies, equities, fixed income, commodities and foreign exchange.</cite><cite>FinanceFeeds reported the rollout on September 24, 2025.</cite><cite>The service marked Pyth's formal entry into an institutional data market valued at roughly $50 billion a year, where incumbents such as Bloomberg, LSEG's Refinitiv, ICE and S&amp;P Global have long dominated.</cite></p>
<p>The second feature is MegaPop, the platform's rewards program. <cite>MegaPop launched as a weekly USDT prize pool seeded with 150,000 USDT.</cite><cite>Draw results are generated using publicly available Bitcoin blockchain data, which the platform says ensures transparency and verifiability.</cite><cite>During the first six weeks of Open Beta, eligible trades receive 2x participation ticket acceleration. Once total tickets reach 300,000, PopDEX will add another 100,000 USDT to the prize pool.</cite></p>
<p>The approach differs from many perp DEXs that rely on points programs tied to a future token. <cite>No PopDEX token has been issued or announced.</cite> As with any beta product, the platform still has to prove itself under larger volumes of real trading, and reward programs carry no guarantee of returns for participants.</p>
<h3 id="sources">Sources</h3>
<p><a href="https://financefeeds.com/popdex-opens-to-all-traders-with-a-growing-onchain-prize-pool-with-no-fixed-cap/" rel="noopener noreferrer nofollow">FinanceFeeds: PopDEX opens to all traders with a growing onchain prize pool</a></p>
<p><a href="https://ourcryptotalk.com/news/popdex-open-beta-megapop-rewards" rel="noopener noreferrer nofollow">OurCryptoTalk: PopDEX Open Beta goes live with MegaPop prize pool</a></p>
<p><a href="https://www.businesswire.com/news/home/20250923720158/en/Pyth-Network-Launches-Pyth-Pro-a-Next-Generation-Subscription-Service-for-Institutional-Market-Data" rel="noopener noreferrer nofollow">Business Wire: Pyth Network launches Pyth Pro</a></p>

PopDEX Perps DEX Launches Open Beta With Pyth Pro Data and $150,000 USDT Rewards

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