Can you share my views on on on chain derivatives? There are roughly two core directions One is the competition for liquidity At present, Hyperliquid is the only player in the field of on chain contracts, and this advantage will last for a long time. Many people believe that on chain contracts are a monopoly in the oligopoly market, but it is still far from this stage because Hyperliquid has only opened a loophole, which is that it can compete with CEX for meat The ceiling of derivatives is high and large enough