In this episode of Living on Blockchain, we dive into Pear Protocol, a project that launched in July 2025 and is quietly reshaping on-chain trading. Built on top of Hyperliquid, Pear Protocol offers permissionless pair trading infrastructure—bringing long/short strategies, basis trades, and market-neutral positions into DeFi with just a few clicks. From its intuitive interface to over $900M in trading volume since launch, Pear is giving retail users access to tools once reserved for hedge funds. But it’s not without challenges: reliance on Hyperliquid, limited portfolio analytics, and a steep learning curve. We explore: