Drake Exchange is a decentralized on-chain perpetual DEX built on the Monad network, combining features of centralized exchanges with DeFi’s transparency. It offers a full limit order book, cross-margin trading, collateral swaps, and backstop AMM liquidity to improve depth and execution. Users can trade with up to 50× leverage, participate as liquidity providers through “Earn,” and leverage automated vaults for delta-neutral yield strategies.