The backbone here is how these markets get organized and priced. You're looking at a system that pulls data from multiple fragmented sources and synthesizes it into something coherent. Illiquid assets pose a different challenge—that's where weighted pricing models come in, letting the platform create accurate valuations even when traditional spot markets are thin. Then there's the perpetuals layer sitting on top. By structuring it this way, traders gain exposure to assets without needing deep spot liquidity pools backing every single trade. It's essentially decoupling perpetual market activity from the dependency on direct spot market depth, which opens up trading possibilities across a wider range of assets.