In the wake of perpetual DEX volumes surpassing $8 trillion in 2025, airdrop farming remains a core strategy for savvy traders navigating 2026’s DeFi landscape. Yet amid the hype around top-tier platforms, undervalued perp DEXs like Hibachi and Extended stand out for their low competition and tangible points accrual potential. These privacy-focused and high-performance hybrids bypass crowded leaderboards, offering pragmatic entry points for medium-term positioning.
Recent tier lists from Whales Market and TechFlow underscore this shift: perp DEXs dominate airdrop metas, with equity perps, privacy protocols, and L2 innovations leading the pack. Hibachi’s zk-proof anonymity aligns with privacy trends, while Extended’s Starknet backbone taps into scalable trading for crypto and traditional assets. Both boast active traction without the saturation of giants, making them prime for perp DEX farming points.
Hibachi’s Privacy Edge in a Transparent World
Hibachi launched mainnet in June 2025, quickly amassing over $500 million in cumulative trading volume. Daily volumes hover at $7 million, with open interest steady around $1.5 million across more than 30 markets and up to 50x leverage. Its core innovation? Zk-proofs that encrypt user positions and orders, balancing on-chain verifiability with off-chain privacy. Traders execute without exposing strategies to front-runners or MEV bots.
The points program, kicked off in March 2025, rewarded weekly based on volume, referrals, and quests. Though it wrapped on September 28,2025, snapshots likely inform future Hibachi perp DEX airdrop allocations. Current inactivity doesn’t diminish its appeal; low user counts mean outsized rewards for early accumulators. For privacy purists eyeing privacy perp DEX review metrics, Hibachi’s security model holds up against benchmarks.
“Perp DEXs are the airdrop meta” – AltCryptoTalk on YouTube, highlighting platforms with confirmed trajectories.
Extended: Starknet Power for Cross-Asset Perps
Built by an ex-Revolut team on Starknet, Extended targets serious traders with perpetuals on crypto and real-world assets like EUR/USD, Gold, S and P 500, and Brent Oil. Collateralized in USDC, it supports over 50 markets with leverage up to 100x. A hybrid CLOB architecture matches orders off-chain for sub-10ms latency, settling on-chain for trustlessness. Backed by $6.5 million from Tioga Capital, Semantic Ventures, and StarkWare, it’s primed for scale.
Season 1 points distribution runs hot at 1.2 million weekly, earned via trading, referrals, and liquidity provision. Updates hit every Tuesday at 00: 00 UTC, positioning points as the key metric for post-TGE airdrop claims. This ongoing campaign makes Extended a no-brainer for Extended app Starknet perp farmers, especially with traditional finance exposure drawing institutional flows into Starknet perp trading 2026.
These metrics reveal complementary strengths: Hibachi for discreet high-leverage plays, Extended for broad-market velocity. As perp DEX market share surges, their undervalued status stems from niche focuses, yielding higher points efficiency per user.
Cross-referencing guides like Stacy in Dataland’s ultimate airdrop playbook, both rank high for proven strategies. For balanced portfolios, allocate across privacy and performance to hedge announcement risks.
Points farming on these platforms demands more than blind volume chasing; it requires aligning trades with personal edges while stacking multipliers. For Hibachi, post-program activity still builds on-chain reputation, potentially influencing retroactive drops common in privacy protocols. Extended’s live Season 1 offers immediate accrual, with trading weighted heaviest at 70% of points allocation per their dashboard.
Maximizing Points Efficiency: Head-to-Head Tactics
Hibachi farmers should prioritize high-volume sessions during low-liquidity windows to amplify impact, given its thinner order books reward aggressive positioning. Referrals remain key; even dormant, they compound if snapshots revisit networks. Extended rewards diversify better: 1.2 million points weekly split across trading (primary), liquidity (20%), and social tasks (10%). A pragmatic split might dedicate 60% of capital to Extended’s active campaign, 40% to Hibachi volume-building, hedging active vs speculative plays.
This table underscores Extended’s edge for consistent earners, but Hibachi’s privacy niche could yield asymmetric upside if zk-perps capture regulatory tailwinds. Data from AirdropAlert confirms Extended’s points as TGE proxy, while Airdrops. io tiers Hibachi for future campaigns. Avoid over-optimization; markets punish forced volume without directional bias.
Real-world application favors multi-account caution on Hibachi to skirt sybil detection, versus Extended’s KYC-light Starknet setup allowing broader wallet distribution. Leverage discipline caps at 20x for farming; higher risks liquidation cascades that erase points. Track via PerpScout dashboards for real-time TVL shifts, where both hover under 1% of sector leaders yet grow 15% MoM.
Risks and Balanced Allocation Blueprint
No airdrop is guaranteed, and perp DEXs amplify this with oracle risks and funding rate volatility. Hibachi’s zk layer adds proof-generation latency during peaks, occasionally spiking slippage to 5bps. Extended’s hybrid model mitigates this but exposes Starknet sequencer risks amid L2 congestion. Funding from Tier 2 VCs signals runway, yet tokenomics dilution looms post-TGE.
Pragmatically, cap exposure at 5-10% of portfolio, blending with spot holdings. My hybrid strategy: weekly Extended trades on EUR/USD perps (low vol, steady points), quarterly Hibachi quests if revived. This captures perp DEX farming points without abandoning macro edges like Fed cuts boosting tradfi perps.
Undervalued status persists due to narrative silos; privacy traders ignore Starknet speed, and vice versa. Yet as DEX share hits 40% in 2026 forecasts, cross-pollination accelerates. Monitor for Season 2 announcements or Hibachi revivals via official Discords. These platforms embody adaptation: privacy shields in bull runs, performance scales in volatility. Position accordingly, edge intact.
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