Hyperliquid, or more broadly, Perp Dex, is currently the most core, largest, and most difficult problem to solve, which is the lack of asset pricing power The pricing power of blue chip targets is in Binance Small knockoffs and memes, pricing power in the hands of market makers In the eyes of these people above, the small billions of dollars in HLP are just large retail investors In the short term, this problem is basically unsolvable, but in three to five years, Dex is definitely the future Hyperliquid Defi Binance