In the ever-evolving world of crypto, where privacy and high-speed trading collide, Mert, the CEO of Helius Labs and a prominent figure in the Solana ecosystem, dropped a intriguing tweet that's got everyone talking. Posted on October 20, 2025, his simple question—"ok so who is building a perps dex on zcash"—has sparked a wave of reactions, from jokes to serious speculation. For those new to the lingo, a perps DEX is a decentralized exchange for perpetual futures, which are contracts that let you bet on asset prices without an expiration date, all running on blockchain without middlemen.

Mert's been on a privacy kick lately, championing Zcash as a powerhouse for anonymous transactions thanks to its zero-knowledge proofs (zk-SNARKs), which hide details like sender, receiver, and amount while keeping everything verifiable. Zcash isn't your typical meme token—it's a serious privacy coin with roots in Bitcoin's codebase—but Mert's advocacy has a meme-like energy, rallying the community around undervalued tech that's been "sleeping" in the market. His tweet comes hot on the heels of him praising Solana's speed and critiquing other chains, including a light-hearted jab at Solana's own perps scene where he noted Anatoly Yakovenko (Solana's co-founder) vibe-coding a DEX as a side hustle.

The replies to Mert's tweet are a goldmine of crypto chaos, blending serious takes with opportunistic shills. One user accused him of "fudding" (spreading fear, uncertainty, and doubt) Solana's perps options before pivoting to Zcash, while others joked about building inscriptions or competing with big players like Hyperliquid. Amid the banter, meme token promoters jumped in, like the plug for $PEP on Solana, a community-takeover (CTO) token that's seen big pumps thanks to based leadership.

This ties directly into the meme token world, where privacy could be a game-changer. Imagine trading volatile memes like $PEP or others without leaving a public trail—Zcash's shielded transactions could enable that on a perps DEX, reducing risks from chain analysis tools that track every move on transparent blockchains like Solana or Ethereum. For blockchain practitioners, this isn't just hype; it's about enhancing security in a space where regulators are cracking down on traceable trades.

Mert's callout highlights a broader trend: privacy coins are making a comeback, not as dark web relics but as essential tools for everyday crypto users. With Zcash's upcoming upgrades like Project Tachyon aiming for 100x scalability, building a perps DEX there could merge high-leverage trading with ironclad anonymity. It's a nod to crypto's cypherpunk origins, where tech like this empowers individuals against surveillance.

Of course, Zcash's slower block times (about 75 seconds) compared to Solana's sub-second speeds make it an unlikely perps powerhouse right now, which adds to the tweet's satirical flavor. But if someone's out there building it—maybe vibe-coding with AI like Claude—Mert's question could ignite real innovation. In the meantime, it underscores why privacy matters for meme tokens: in a bull market, you want gains without the gaze.

For more on how privacy intersects with meme trading, check out our guides on shielded pools and Solana's own privacy efforts like Helius APIs. If this sparks your interest in Zcash or perps, dive into the conversation—Mert's timeline is a treasure trove of insights.

Whether this leads to a actual Zcash perps DEX or just more memes, one thing's clear: privacy is back on the menu, and meme insiders should pay attention.