1. True hedgers: Patiently use funds and time to exchange for full high-leverage returns. (Lots of idle funds, time for returns, just like mining) 2. Smart speculative hedgers: Take profit at the bottom of short positions, use short profits to cover unlocked income. 3. Actual fools: High FDV, everyone is hedging, thinking it’ll go to zero, then go in with naked shorts at the bottom. 4. Long-term vision holders, long-term investors, and those optimistic about WLFI in the long run. Short-term: 3 earns 2’s money. Long-term: 1 earns 4’s money.