A major perpetual trading platform is pulling in $17 million weekly—no venture capital involved. Here's what's striking: they're capturing 80% of all perp dex volume right now. That translates to roughly $884 million annually just from trading fees, and they're not playing the typical token inflation game. The community-driven distribution model actually delivered real product-market fit. Once token value accrual mechanisms kick in, the revenue potential could shift dramatically. It's a case study in how staying lean and letting users drive adoption can outperform traditional fundraising approaches.