Builder question for the room:
If a stablecoin settlement layer adds 'every spender earns yield' as a primitive — which existing fintech category gets hollowed out first?
Reply with your take. We're writing the answer up.
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Decentralized perp DEXs like Hyperliquid, Aster, and Lighter are, at the end of the day, still centralized. Users place orders, the frontend handles matching, and then the matched data is replicated on-chain—that’s the basic logic. So in principle, if someone wants to do evil, it’s still very easy: the frontend could perform some fake matching and upload it to the chain. This is such an obvious truth that everyone is just selectively ignoring it. I’m not saying that the current Hyperliquid model is bad—it’s actually pretty good, at least with data on-chain for reverse traceability—but everyone can’t claim it’s fully decentralized. This is a matter of principle! @Aster_DEX@HyperliquidX@Lighter_xyz@SentinelP2P@cz_binance
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