Simply piling up data is useless; the key is whether you can interpret it.

When choosing a perpetual contract DEX, just looking at TVL and trading volume can easily lead to pitfalls. Slippage control, liquidation mechanisms, and oracle stability—these technical details are the real deciding factors for whether you can use it in the long term. Also, funding rate volatility and market maker depth—a lot of people ignore these, only to get liquidated in extreme market conditions and start doubting life.

To judge whether a protocol is reliable, you need to piece together on-chain data, contract audit reports, and the team's background. Don’t just stare blankly at the APY numbers.