Last night, a guy in the group got wrecked by Slippage, totally lost it: 'I pay tuition to the exchange every day, can I just open a DEX myself to collect fees?'

I thought he was drunk, but then he threw me a screenshot: a perp DEX starts in a few minutes, and cross-chain swaps can be initiated with a single click.
I was stunned on the spot: This... this is not a tool, it's turning "opening an exchange" into a replicable business.

Right now, the newly launched Vanguard by @OrderlyNetwork is even tougher:
Anyone can be a distribution BD, bringing Builders to use Orderly ONE to create a DEX,
Income = counterparty taker fee rate - your taker fee rate (minimum of 0.1 bps), while the tier rises based on the 30-day aggregated volume + staking $ORDER, with earnings settled daily at midnight.

What impresses me even more is the value closed loop: the protocol repurchases $ORDER every two weeks using up to 60% of the net fee TWAP, 50% is returned to stakers as esORDER (linear over 3 months), and the remainder goes into the community governance pool.

RWA hasn't stopped either: XAU/XAG (Gold/Silver) goes on-chain with 20x.
There is an interview with Ran at 10 PM ( UTC+8 tonight, and I plan to listen while taking notes.