No matter what happens positioning for new projects is almost always the play The crypto space moves on so fast due to incentives and the next thing to farm So many people get caught up bag holding a play in a narrative that is probably actually a good one But the new coin or ecosystem just takes the cake because well they can offer more money because they’re new Projects that manage to break this mold are the only ones that matter and betting on breaking the mold is a lot harder than it looks Think about how many perp DEXs we had to go through to get to Hyperliquid… You could’ve been EXACTLY RIGHT about the perps thesis but gotten blown up on many different DEXs before Hyperliquid even spawned How do we even know Hyperliquid is the winner? I personally think it is but I also thought Injective made sense…