These paragraphs in the screenshot were written around $HYPE TGE in 2024 Since 23 years of involvement with Hyperliquid It seems that Twitter is all about Hyperliquid Today, I will summarize the essence behind its becoming a phenomenal project And take this opportunity to diverge and talk about the prevalent track thinking Mobile phone code word stream of consciousness expression Poor readability People who are destined to meet and understand it will meet and understand Track thinking, which is useful and can make money But there is no way of thinking that goes straight to the essence This is because the easiest and most effective way for people to identify patterns is to judge them by the features on the surface For example, a project is on fire Just look for projects with similar tracks to invest in Before Hyperliquid came along The DEX track in the form of an orderbook in 21-24 is close to falsification No one believes that this DEX can have a chance to surpass CEXs This is because the attempts of both $DYDX and Binance Resources, which are taking care of the $APX openly and covertly, or the $GMX, have failed From the track point of view$HYPE is just the next mundane project This is the essential reason why many CTs are biased against Hyperliquid before the market opens But often a phenomenal project is one that can bring up a track After Hyperliquid became more and more impossible to ignore People use track thinking to chase the so-called next Hyperliquid For example, chasing a Lighter Backpack Aster and so on This is understandable and able to make money in mindset These projects are not bad either But I want to capture the essence of a phenomenal product We have to think a little deeper about what makes him special This is because only by seizing Ryuichi can we have the opportunity to maximize our benefits The same is a horse After the red rabbit horse appeared, you went crazy to buy the same horse gadgets in the market It's like a carp crossing a river After making a small amount of money, only emptiness remains Exercise your judgment through the target It is the eternal issue of every individual in this market So what makes Hyperliquid stand out This can be seen in Figure 2 I think that the ease of use of the product is only the most basic surface The top assets in the cryptocurrency circle all have a premium of spiritual attributes The so-called real Cultish Community does not rely on cheap meme generators to send a few memes that are not funny at all, and then gmgn Rather, it is a community of interests that is closely united around the team by generous distribution of interests “community-owned” You may sound cliché But to put it another way "Fight local tyrants and divide the land" "The tiller has his field" Familiar? This is also Figure 1 Before the market opened, I set the tone for the core ethos of Hyperliquid At that time, I never looked at the so-called revenue or OI data This is because the story and the pattern of benefit distribution that leads to subsequent project progress determine that the ceiling is very high A lot of project products can also do well But follow the traditional method of financing Naturally, 20-30% of the chips will be easily eaten by the rentier class and because of the cyclical factor of LP Once you're gone, it's hard to give back to the project This is also the reason why most VC projects have died in the past However, it is not uncommon for large amounts of benefits to be distributed to the community At the same time, it is not uncommon to have a strong leadership core But the two are combined The nature of the project has changed This is because most smart teams are willing to cede benefits to VCs In exchange for low-risk start-up capital It's a smart man's choice, and there's nothing wrong with that But a strong and visionary core leadership team Use your own funds to help the project through the cold start And transfer the benefits to the community to develop together It's rare, rare The essence of human nature is unchanging The development of history will always be mapped in a certain time and space scene Provide us with the wisdom to penetrate the superficial features and get to the essence It's been a long time since I've seen a similar project in the cryptocurrency circle