Roguex Review 2026: A Spot and Perp AMM on Blast

Roguex is a decentralized exchange on the Blast network. It describes itself as an AMM designed to make use of assets that sit idle in standard liquidity pools, and it adds perpetual trading inside those pools alongside regular spot trading.

The homepage promotes trading BTC, ETH and altcoins, either spot or perpetual, and pitches the product to liquidity providers who want better capital efficiency. The protocol has a token, ROX, and trackers list it since March 2024, with two audits noted.

The main concern is activity. Trackers show no TVL figure and a 100% fall in the past seven days, so liquidity may be gone or no longer reported. The project does not publish its team, fees or audit details in the material reviewed.

In a normal automated market maker, users deposit pairs of tokens into a pool and traders swap against that pool. Much of the deposited capital sits unused most of the time. Roguex describes itself as an AMM built to make better use of those underused assets.

It does this by adding perpetual trading to the pools. A perpetual is a derivative that tracks an asset price with no expiry date, usually with leverage. Instead of building a separate perpetual venue, Roguex lets the same liquidity support both spot swaps and perpetual positions.

For liquidity providers, this can mean more fee sources, but also more risk. If traders on the perpetual side profit, that money can come from the pool. The exact pricing, funding and risk rules are not published in the material reviewed.

Roguex does not publish a fee schedule in the material reviewed. Trading fees, perpetual funding rates, and any liquidity provider fee share would be shown in the trading app or the project documentation.

On Blast, users also pay network gas for each transaction. Before using the protocol, check the fee breakdown on a trade preview and compare funding costs for any perpetual position you open.

Two audits are listed for Roguex, but the auditors, scope and findings are not named in the material reviewed. The team behind the project is also not identified there. Users should read any audit reports directly and treat a listed audit as one input, not a guarantee.

Smart-contract risk applies to any AMM, and perpetual trading adds liquidation and counterparty-style risk for traders and liquidity providers. Trackers show no TVL and a 100% drop over seven days, which is a warning sign about available liquidity. No regulatory status is stated, and decentralized derivatives may be restricted in some jurisdictions, so check the rules where you live.

Roguex is for experienced DeFi users who already know how AMM pools, perpetual contracts and liquidation risk work, and who want to look at a design combining them on Blast. It is not suited to beginners or anyone who needs deep, proven liquidity.