If you’re trying to farm the next HYPE airdrop and it doesn’t include something that actually generates fees for the platform, you’re going to be really disappointed.

The L1 is interesting but doesn’t benefit Hype that much. Interesting L1 protocols are still yet to come, an AMM doesn’t benefit HYPEcore much if at all, it just fragments liquidity.

Perp trading and spot trading are all that matters, spot trading arguably much more. Liquid spot markets are a critical component of a standalone T1 exchange.

Hyperliquid.