Competition is for losers. When people think about GTE, they frame us in relation to all sorts of exchanges and trading apps from Binance, to Hyperliquid, to even Robinhood. If this was the case, (and what we based our north star upon) GTE would be dead on arrival. This sort of thinking is specifically why I have stayed out of the 'CLOB Wars.' We believe that iterating over the product rapidly for our end users is a better use of our time than grandstanding why our design is better than others. At the end of the day, the market will decide. Let me be very clear: Our intention is not to build a product that just looks to compete with 'speed' or 'liquidity' as our edge against the aforementioned names. Everyone can get faster. Books can get more liquid. Apps can get more addicting. But is your product truly net new? Have you actually invented a new market (and subsequently have no competition?) Or are you merely competing with incumbents and deluding yourself that you have no enemies. There are certain inflection points in time where new markets emerge that have no competition, and both technical and organizational debt accrued in incumbents prevent them from properly expanding to those markets. We believe that that inflection point has already started and we have bet the entire company on it. Over the next days, weeks, and months, it will become very clear what the end state of GTE looks like. It's not Binance onchain, it's not Hyperliquid but faster, it's not Decentralized Nasdaq. It's GTE.