On-chain DEXs are reaching new heights right now! Raiding each other's turf! Hyperliquid dives into the prediction market, while Polymarket counters with leveraged contracts—everything’s in chaos! Polymarket & Kalshi officially announced the launch of perpetual contracts. This means leverage, arbitrage, and quant strategies—those mature on-chain plays—are fully entering the game. They’re opening up leveraged trading features to turn this wave of traffic into trading volume. Hyperliquid strikes back: in February, they dropped HIP-4 and went straight for the prediction market, pushing 'non-liquidation outcome finance,' clearly aiming to take over Polymarket’s territory. Hyperliquid is de-leveraging, while Poly is leveraging up. This kind of fierce competition for users—feels like it’s been ages!