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Hyperliquids biggest moat is actually the tokenomics. Lighter and rivals might match UX/UI and even obfuscate fees (payment for order flow vs transparent fees) and even get sticky liquidity But hype not having egregious tokenomics or VCs up many multiples creating sell pressure down the line…no one will mimic that Having a 30% airdrop which floated at low value and went up 10-15x…no one will mimic that
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