Problem

Most DEXs scale users before scaling liquidity, causing:

• Poor order book depth
• Volatility inefficiencies
• Inconsistent revenue

Solution

Jenex prioritizes:

• Trader density over vanity MAU
• Volume concentration strategy
• Retention-driven revenue compounding

Validation Base Case:

Average lowest active Trader(150-250 usdt deposit)

• $100K monthly trading volume
• $1,2 M annualized volume
• 0.05% blended effective fee capture

Average Scalper (150-250 usdt deposit)

• $6M+ monthly trading volume
• $72M+ annualized volume
• 0.03% blended effective fee capture

Annual Revenue per Trader(without referral payback):

Retail: $1,2M × 0.0005 = $600 ARPPU

Scalper: $72M × 0.0003 = $21,600 ARPPU

Cost Structure

• Blended CAC: $35–40
• Cost per activated trader: $85–120
• Payback period avrg both user COGS: ~2 months
• LTV/CAC: 3–6x

Business Value (without referral payback):