Why are these types of exchange projects so attractive to users? The secret lies in the liquidity provider (SLP) vault system. Users deposit funds, and the exchange gains sufficient trading liquidity support, while liquidity providers can earn profits from trading activities — this is a win-win design. The larger the trading volume and the higher the liquidity demand, the greater the earning potential for participants. As long as the project can continuously attract trading volume, the ecosystem can operate in a healthy cycle. This model has become the core differentiator in Perps exchange competition — whoever offers more attractive liquidity incentives will attract more trading users to participate.