Viktor | RockawayX

The most important thing you can do as a PERPS DEX this week is list SPACEX

My $0.02 - as someone who's been equally involved with Hyperliquid and Solana and admires both ecosystems. If I were working at foundation, this is what I'd want to see to tweak things in Solana's favor. 1. Phoenix needs to get rid of that invite code nonsense asap because brother its 2026.. 2. For perpetual exchanges, there are two core aspects that have nothing to do with settlement chain. You need a group of MMs and you need a risk engine. Hyperliquid could bootstrap this fairly well, and the airdrop incentivised MMs. Many of them ended up millionaires and that liquidity went towards HIP-3/HIP4. Solana folks need to stop looking at this as a liquidity constraint and think who are the best MMs and what are the best assets. And no, thinking you don't need to incentivise those MMs doesn't work because the MMs are booking sufficient margins arbing tradfi stocks and currency pairs on Hyperliquid. Hyperliquid launched in a zero competition market. Solana's perp ecosystem is not launching in a blank market. 3. Hyperliquid was consistently early to listing new assets. Often times - that move hurt it because risk assessment is hard (jellyjelly). But it was one of the best places to go long on perps before Binance listed it. Speed of listing new assets was the pitch. It still is - you can trade spacex there before you can trade it on NASDAQ. Phoenix lags (from what I see). compare this with number of assets on solana native perps. 4. Hyperliquid's core culture is built around a full-fledged product that is aesthetic. The attention to detail on Hyperliquid is often absent on many Solana native perps. You need to get off the feeds and open these products on two large monitors and spend a whole sixty minutes on these things and you will see the stark difference. 5. Solana's core value prop is actually in its RWA ecosystem. Instead of battling on crypto-native perps, or going after what Hyperliquid owns today, Solana should probably look towards the 350 assets Ondo supports and enable perps for them. Why? You have a base market where MM's can go back to USDC on, MMs will want to hedge on a perp exchange and Solana has a strong lead here (compared to ETH/L2 ecosystem). You have an ecosystem of wallets that will embed these instruments. You want to bring nasdaq on chain? Brother focus on those assets!! Tokenised compute, commodities, emerging market indices - are all blank spaces. And Hyperliquid does not own those markets today. 6. Hyperliquid dominates user mind-share now because it has done the three things necessary to build a cult in crypto. It built a product that speaks to tradfi (pre-ipo/hip3), it made an incredibly powerful stack (hip3/usdh) and it enriched people in the process. Solana did the same with USDC and fwiw, to a certain extent with meme coins. Trying to battle it out on Hyperliquid's turf is trying to convert a cult. I belong to that cult - unless you have a superior product that has as much - people wont convert over Hyperliquid has an incredibly powerful flywheel going on for it right now in that when tradfi stocks list, it has become the pricing avenue. The last time this happened with a primitive in crypto was with prediction markets - when they were more effective than traditional outlets at pricing election odds. Crypto native approaches to competing with a behemoth whose moat is on risk engine, liquidity, a cult-like userbase and tradfi relevance is fairly weak. Teams on solana should frankly be looking a bit more deeper than the surface. DMs open if you're building on either networks. I think the pie is a lot bigger than what we presume it is on X. We are talking about bringing the world's finances on-chain. Cumulatively these ecosystems are at $80 billion. I think they will be worth $10 trillion in ten years. Too early to be bickering over size of the slice. Focus on the pie.

Anything that can be measured can be 1) automated by AI, & 2) made tradable. What happens at the intersection of these two megatrends?