Viewing hyperliquid and HUSD from another perspective Currently, USDC in the Hyperliquid ecosystem is like a vampire, siphoning off over $100 million annually to Circle. This money should have stayed on-chain, but now it's going into the pockets of traditional financial institutions. Imagine if Hyperliquid's scale expands tenfold, that would mean $1 billion in value outflow every year. According to the "cut the head and tail, keep the middle flow" principle of Huajiao's trading philosophy, although this flow is the user's, it would be better if I provided the source. HUSD's design is clever in two ways: 1) It converts stablecoin interest into HYPE buying pressure 2) It achieves internal ecosystem circulation through Builder Code. The former solves the value capture problem, while the latter addresses the value distribution issue. Let's do some simple math: A rebate budget of 100 HUSD can support a trading volume of $100,000. This means early projects can acquire users at extremely low costs while maintaining fee income. This unit economics is impossible to achieve in traditional DEXs. So @ZKSgu, what do you think?