DipCoin Perps Review: Should You Trade on Sui?

DipCoin Perps is a decentralized exchange for perpetual contracts on Sui. Perpetuals let you take leveraged positions without a fixed expiry, so gains and losses can change quickly; a position may be liquidated if its margin falls below the required level. DipCoin promotes guided trading and sub-second execution, but those are product claims, not guarantees of execution speed or trading outcomes.

The project describes its model as self-custodial, meaning users retain control of their wallet rather than depositing funds with a conventional centralized exchange. That does not mean your funds are risk-free: trades still depend on smart contracts, and leverage adds liquidation risk. DipCoin does not clearly publish supported markets, maximum leverage or collateral rules in the product information we can substantiate. Confirm all of these in the trading interface before opening a position. The listed project has no token.

DipCoin does not publish a clear trading-fee schedule in the product information we can substantiate. Before trading, check the interface for maker and taker fees, any position-opening or closing charges, and whether spreads affect the price you receive. Perpetual markets commonly use funding payments between long and short positions; confirm whether DipCoin applies funding, how often it is calculated and what rate would apply to your trade.

You may also pay Sui network transaction costs when interacting with the protocol. These are distinct from exchange charges and can vary. For a fair comparison with another platform, look at the total expected cost of opening, holding and closing a position—not just a headline fee. If the app does not show these costs clearly before you confirm a trade, do not assume the transaction is free. Value is hard to assess until the protocol publishes understandable fee and funding terms.

DipCoin claims self-custody, but that alone does not establish how its contracts handle funds or what protections exist if something goes wrong. Two audits are listed for the project; their scope, dates and findings are not clear from the product information we can substantiate. An audit is a review of specified code at a point in time, not a guarantee that a protocol is secure or that every deployed contract was covered.

Before connecting a wallet, find the official contract addresses and verify that any audit applies to those contracts. Check whether the protocol publishes documentation on custody, upgrade permissions, emergency controls and how margin and liquidation work. DipCoin does not provide clear licence information or a public incident history in the details we can substantiate. Treat the product as a smart-contract risk, and only use funds you can afford to lose. Avoid signing transactions you do not understand.

DipCoin is built on Sui, so you will need a wallet that supports the Sui network and enough SUI to cover applicable transaction costs. The product promotes guided trading and sub-second execution, but does not specify supported wallets, mobile features or measured execution performance in the product information we can substantiate. Check those details in the app before relying on them.

Start by verifying that you are using DipCoin’s official interface and the correct Sui network. Read the market, margin, liquidation and funding terms before placing an order. If the interface offers a test or preview mode, use it to understand the order flow before committing funds; do not assume one is available. Check each wallet prompt against the action you intend to take, and never share your recovery phrase. A fast interface does not remove the need to review transaction details or understand how a leveraged position can be liquidated.

The main drawback is the lack of decision-critical details. DipCoin does not clearly publish a fee schedule, supported markets, leverage limits, wallet compatibility or full trading terms in the product information we can substantiate. Without those, you cannot readily compare the cost of a trade or determine whether the available markets and risk controls fit your needs.

The security picture also needs more verification: two audits are listed, but their scope and findings should be checked directly, and the self-custody claim does not remove contract risk. DipCoin is therefore a poor fit if you want a well-documented exchange, a simple spot-buying app or a product with clearly stated protections. Experienced Sui traders may still investigate it, but should verify the deployed contracts and every trading cost before funding an account. Do not treat advertised speed or guided trading as evidence that a leveraged position is safe.