CHANNEL EFFICIENCY INTERPRETATION

Channel Structure & Market Scope

Channel Structure (2026)

Channel Share Effective CAC Economic Impact Role
Trader Communities+Pro Scalping network 40% ~$30–35 High volume per trader, large execution perfomance per open/close orders Core density engine
Referral Mining 25% <$20 (effective) Trade frequency ↑ Structural compounding
Trading Competitions 15% ~$40–60 Volume spikes Acceleration layer
Pro Trader Onboarding+Whales 10% ~$80–120 Trade size ↑ Depth expansion
Tactical Paid / Retargeting 10% ~$60–90 Event-based activation Tactical only

Blended CAC (2026): $35–40

Cost per Paying Trader: $85–120

Market Size (TAM / SAM / SOM)

TAM — Global Perpetual DEX Traders

Total Addressable Market:

Multi-billion annual fee opportunity.

SAM — Native Perp Traders

Serviceable Addressable Market:

~$5–8B annual trading volume potential