Why does HyperEVM always feel difficult to gain momentum? The main reason is that the @ HyperliquidX team of @ chameleon_Jeff is too product oriented and practical, and there is no top-level VC such as Paradigm, a16z, Polychain behind it to help CX with some soul stirring concepts. HYPE For example, when only the Ethereum mainnet needed to "scale" one point, it gave rise to a series of technological narratives such as DA wars, modularity, OP Stack stack, parallel EVM, Restaking, ZK everything, and Based Rollup. Although these concepts may sound counterintuitive now, they attracted a large number of developers, capital, and attention at the time. Whether it's @ VitalikButerin or To VC, they have all given rise to the DeFi Summer, NFT Season, and AI Agent craze. The current HyperEVM may seem lively, but in fact it still inherits the old DeFi protocol from the previous cycle, with combinable gameplay such as lending, staking, Yield, Launchpad, and MEME. It can't be said to be bad, but it doesn't sound "sexy". for example, HIP-3， Anyone can deploy a perpetual contract marketplace on Hyperliquid without permission. If institutions such as @ paradigm and @ a16zcrypto come out and shout, in the era of Crypto Infra overload, Hyperliquid links various financial scenarios and creates the ultimate solution for "commercial scaling", then the visual experience may be different. By then, Wall Street institutions and major exchanges may all come to grab Tradexyz's job. Why should the exchange quietly develop its own PerpDex? After all, with the endorsement of the US CFTC and Trump. For example, Hypercore is definitely top-notch in terms of matching engine services in trading scenarios. If we give the concept of a programmable trading extension layer, any institutional level application and any on chain protocol can be directly integrated to make their own products. At that time, the adaptation relay layer around HyperCore will quickly emerge like the Rollup ecosystem did back then, with a bunch of new projects specializing in middleware, vertical scenarios, and institutional tools. For example, Oracle, Intent/Solver layer, cross chain liquidity sharing, and so on. At that time, Hypercore will no longer be a cold technical foundation, but a cross era financial operating system, just like how "ZK" may sound like STARKs cryptographic technology, but defined as the ultimate solution for anti quantization, is it unclear 。 Then, @ chameleon_Jeff will make a timely tweet at a critical point, shouting that HyperChain is the true Ethereum killer, connecting all real business and financial scenarios. In this way, there is a new narrative and paradigm of the new cycle Perpdex, and the prosperous ecology of Hyperliquid is just around the corner! Note: The above is for everyone's enjoyment. As a loyal holder of HYPE, I really hope to have a year of lively celebration.