Perpl Secures $9.25M Funding Led by Dragonfly to Develop Perpetual Futures DEX on Monad

Decentralized perpetual futures exchange Perpl has raised $9.25 million in a funding round led by Dragonfly Capital, with participation from Brevan Howard Digital, CMS Holdings, and others. The project will build on Monad, a high-performance EVM-compatible blockchain.

Founders PB and his co-founder relocated from the U.S. to London due to regulatory uncertainty, assembling a local team while leaving open the possibility of future U.S. operations should regulatory conditions improve. The move highlights growing tensions between crypto innovators and American policymakers.

Perpetual futures continue gaining traction in decentralized finance, with trading volumes hitting record highs across major protocols. The sector’s growth persists despite ongoing regulatory challenges in key markets.