Everybody’s yelling “perp DEX war,” but one desk already rewrote the meta and @EdgenTech agents see why Hyperliquid feels fast, liquid, alive. ❯ It’s a custom, fully on-chain order-book L1 (orders, funding, liquidations settle on its own chain). That CEX feel without the op-city comes straight from design, not vibes. ❯ Market share speaks: Hyperliquid hit ~70% of on-chain perps by mid-April ’25 (and stayed the benchmark through summer). ❯ Revenue engine is real: ~$106M fees in Aug ’25 → ~$1.2B run-rate, even after an 80% fee cut. Volume nearly $400B that month. ❯ HIP-3 = the flywheel: stake 500k HYPE to launch new perp markets; more builders → more markets → deeper liquidity. --- Here’s the trade everyone’s whispering about: a looming unlock wave (late Nov onward) that could drop $ hundreds of millions/month into float. Can the fee machine + buyback policy keep up? Gravity vs momentum is the bet. My read: near-term volatility is a feature, not a bug, when the core design keeps pulling liquidity on-chain. But don’t outsource judgment stress-test the thesis yourself. ❯ User step: open Edgen → add HYPE to your Portfolio → run a 360º Report and watch the letter grades + drivers update around earnings, funding prints, and open interest shifts in real time. ❯ Cross-check HIP-3 deployer stakes and upcoming unlock cadence before sizing. If you’re trading the war, at least let your list think with you. I’m tracking HYPE’s fee run-rate vs unlock net flow next.