Let's take a look at how the ROLLX project in the PerpDEX track has been performing recently.

According to DUNE data, over the past 24 hours, the trading data for this project is as follows: total trading volume reached $32.16 million, 405 users participated in trading, and exchange revenue was $5,655. The trading volume still looks decent, but the engagement seems a bit quiet.

More notably, in terms of user growth—the number of users has almost stagnated over the past three months, and compared to six months ago, the monthly active users have decreased by 75%. This is a dangerous signal.

Looking at token distribution—interestingly, ROLLX did not conduct private funding rounds, nor did it have VC participation. 54% of the tokens are allocated to the community. From a funding model perspective, it’s relatively clean, but whether it can reverse the user loss trend still depends on subsequent operational capabilities.