As "another on-chain perpetual protocol". In fact, Symmio introduces a new DeFi primitives for on-chain bilateral counterparty protocols – a unique design that allows perpetual transactions to be conducted on generic L1s. Let's dive in: There is a constant inflow of funds into the order book and into AMM-based perpetual contract exchanges on L1 and L2. However, we believe that these models are inherently unviable and unlikely to be long-term winners due to technical limitations.