Let's talk about the second phase of PerpDEX's market trend. The first phase was driven by the breaking of the circle and the wealth effect of hyperliquid, such as Lighter, Aster, Edgex, etc. However, the real competition came from the second phase, which has not yet begun and its form is still unknown. But with Trust Wallet integrating Hyperliquid, it can be foreseen that the entry layer will be the key to PerpDEX's competition in the future Let's first talk about a landmark event of Hype There are indeed many outsiders who enter the cryptocurrency circle for the first time using Hyperliquid to speculate on crude oil contracts. Although the scale is not large, the significance is enormous. However, there are some threshold path restrictions for directly using Hype outside the circle. But what about wallets Because the wallet product has undergone so many years of development, it has been highly optimized and simplified. Even outsiders entering the industry generally need to use the wallet. Trust Wallet integrates Hyperliquid directly, allowing users to trade crude oil contracts directly through the wallet, greatly shortening the usage path My judgment is that a core direction for the future PerpDEX war is to shift from DEX itself to the entry layer, and from on chain to mobile phones Trust Wallet's integration of Hyperliquid and Aster this time is a very strong signal, I think In one wallet, there are also: The Deep Liquidity of Hyperliquid Sustainable market for real commodities such as crude oil Aster's 200x leverage gameplay Direct operation experience on mobile devices Originally, you needed to switch back and forth between three entrances, and even switch between computer and mobile devices. Now, one wallet entrance can meet this requirement, which is a paradigm shift in experience There may be a new question here, if Hyperliquid is directly used for mobile devices, will this entry logic fail? Firstly, one hyper liquid cannot meet all market demands, which is also the reason for the existence of competitors. In the future, it is highly likely that hyper liquid will dominate and multiple PerpDEX will correspond to diversified demands, just like CEX now. Binance will dominate CEX, but it will not hinder the unique advantages of OKX and CB As long as it is a pattern of one super and many strong, the logic of wallet compatibility and unified entrance lies in In addition, in strong exchanges, new entrances are also needed. Trust Wallet itself has millions of wallet users, natural mobile traffic, and user assets are converted to trading users in place. Even if Hype has its own mobile platform, it does not conflict with Trust Wallet, but complements it Essentially, hyperliquid is a product for liquidity, while Trust Wallet is for distribution, forming a strong complementary relationship Here I would like to make one more judgment: the ultimate goal of a wallet is not a coin storage tool, but a personal on chain financial operating system, similar to an airport. Hyperliquid, Aster, Lighter, Edgex are airlines, and in the future there will definitely be more airlines offering DEX life roll services, roll prices, and roll routes. On the other hand, a wallet is like an airport: airplanes come and go, and airports always make money. Trust Wallet is doing airport business this time In the future, with the development of PerpDEX, it is inevitable that wallets will serve as the core entry layer for PerpDEX. PerpDEX will leverage liquidity advantages and explore new asset contracts, while Trust Wallet will provide the optimal C-end service for distributing liquidity to PerpDEX, as this is the optimal path and capital efficiency So from the perspective of Trust Wallet, the PerpDEX war is not about whether Hyperliquid will overturn Aster or not, but about the trend of industry specialization, which is liquidity infrastructure and C-end distribution. Trust Wallet is focusing on PerpDEXC distribution, seizing this core entry value