crypto people keep trying to make hyperliquid vs solana perps a winner takes all thing
i don’t think that is right
hyperliquid did the most important thing first. it proved that people will actually trade perps onchain if the product is good enough. not because they suddenly became decentralization philosophers or because they care about some 400 word manifesto about infra, but because the product works, the markets are liquid and the casino feels alive
that should be good for solana perps too. if anything it raises the standard
you can’t launch a perp venue on solana now and expect people to care just because it is on solana. the bar is higher now. the ux has to be better, the markets have to be better and the incentives have to be better
and solana actually has a real shot because it already has the users, the culture and the gambling brain damage
hyperliquid has focus and execution. solana has distribution and chaos. both can grow
there doesn’t always need to be one winner and one dead venue. sometimes competition just forces everyone to build something that is actually worth using
casino gets bigger
the longer i stay in crypto the more i think most people underestimate how much attention itself has become an asset class here
liquidity flows where attention flows
narratives become markets
timelines decide valuation before fundamentals even enter the conversation
a random meme coin with enough engagement can outperform actual infrastructure projects processing billions in stablecoin volume because crypto trades velocity of attention more than anything else
that’s why ct feels so exhausting lately
everyone is simultaneously a trader, marketer, entertainer and exit liquidity for someone else
the trenches are incredible
one minute: 'printed 7 figs on a zcash long on hyperliquid, perps are free money'
next minute: 'does anyone know if binance pays for flights to the event?'
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