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HYPE
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The following content is sourced from .

1. Lighter and EdgeX seem to be approaching hyperliquid volume, but OI (open interest) is lagging significantly.
2. Most transactions are spam for airdrop farming rather than actual users.
3. Some support retail user trading with subsidies, yet the trading retention rate is low.
4. EdgeX has high fees at the HL level, but the volume is decent while OI is relatively weak.
5. The challenge is to maintain volume, TVL, and OI even after the trading subsidies are stopped.
6. Designing tokenomics and securing token value are key.
7. There is a high possibility that users will leave the ecosystem after TGE.
8. With many competing projects, maintaining loyalty is difficult.
9. Concerns about a pattern similar to past L2 metas: 'airdrop expectations → short-term boom → quick exit.'
10. Ultimately, long-term user retention and value accumulation will determine success or failure.
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The above content summarizes the Twitter discussion. However, I think that airdrops are not unlikely to be appealing for both Lighter and EdgeX, separate from the OI indicators.
Looking at the current pre-market FDV, WLFI exceeded 30B, Plasma was also over 8B, and Linea surpassed 3B, etc. It feels too high-value? Overvalued?
While we can overlook the airdrop itself, the issue lies in what happens afterward.
Can they survive in competition with hyperliquid? That's the question.
@Lighter_xyz
@edgeX_exchange

filo 🏺🩻
everyone is so bullish on lighter and edgeX on the timeline but they will not tell you this.
you have a look at the volumes across perp DEXs - it seems like lighter and edgeX are coming quite close to hl's volumes.
then you have a look at the OI and you will get a totally different picture.
turns out most of the users of these platforms are spamming txs to farm an airdrop. Some of these even subsidize transactions for retail users + airdrop rumors and yet users can't be bothered to keep a trade open.
in particular, edgeX volumes are great considering that they have fees as high as hyperliquid. But OI is non-existent compared to it.
while everyone has got a shot at it, these platforms now have the job to: stop subsidizing trades; retain volume, tvl and oi; create great tokenomics; accrue value to the token.
what makes people think that as soon as these projects TGE will not leave the eco? especially with so many other similar options available
the trend reminds me of the L2 meta. After Arbitrum, it seems like L2 were going to print and there were so many new ones. we all know what happened.



📢@MMTFinance has big plans
The goal: every asset is tradable, for everyone, anywhere.
How to do it in phases.
1️⃣ Momentum DEX: seamless trading of every asset on Sui.
2️⃣ Vaults + Wormhole NTT: seamless cross-chain trading.
3️⃣ On-chain RWAs: crypto trading and tokenized stocks all in one place.
@Hyperpiexyz_io just speedran +50% degen in just 24h.
This launchpad meme really goes brrr.
The community is extremely enthusiastic and large.
From launch until now, everything has been extremely fast and exciting.
I'm really excited to see how many users will be next stop ∞.
If there is something that makes the internet safer and helps me know who or what I am interacting with, why not try it?
That’s why I’ve been keeping an eye on @billions_ntwk.
It’s really impressive to hear the community share why they are joining Billions.
Each story shows the value of security and transparency that the project brings.
It feels like people are truly protected and more proactive online.
It’s exciting to see a crypto project that is both safe and creates a strong community.


The HUMA second season airdrop has ended, and I received around 6100U in total.
Among the project airdrops experienced in 2025, HUMA is definitely the one with the best participation experience, no doubt about it! Whether it's the quality of the project itself or the operational quality of the team led by @DrPayFi, both are top-notch.
After the first season ended, I sold part of my tokens and staked the remainder. During this period, I made two additional investments, and ultimately my airdrop portion yielded an annualized return of around 31%. This is a very good choice among current stablecoin financial products.
HUMA has been a journey of gains for me, as well as a validation of my project participation logic. Here are the core points summarized:
1. Choose simple projects that can make money.
HUMA's business is as simple as the hydropower stations of the Yajiang Group; as long as you stay there, the flow passing through can generate profits. Therefore, I prefer projects that can be explained in one sentence, and if they can also be profitable, they are S-level. Hyperliquid is like this, and the upcoming edgeX is also like this.
2. Deeply cultivate one project rather than being busy with many.
HUMA once again proves that deeply cultivating one project, without needing so many accounts, and patiently following the project's growth will definitely yield rewards. Being busy here and there ultimately leads to emptiness. Future projects will increasingly reward long-term thinkers.
3. Don't reject KOL promotions.
Many people set a strong anchor belief in their minds, thinking that if a project has been promoted by a KOL, they won't participate. This is actually a prejudice against others' profits. HUMA is a quality project I discovered from promotional information, and there are many such projects this year.
Don't let promotions become obstacles that make you miss out on projects.
4. Don't dismiss Kaito.
I have been skeptical about Kaito, but I want to say that there are still many excellent projects in Kaito pre-TGE. Don't blindly follow trends and get led astray; don't mindlessly participate in projects within this space.
Aside from HUMA, which projects like Succinct, wayfinder, initia, sidekick, newton, and defiapp are not good? The core here is what kind of people you follow and what kind of information you gain!
Finally, lower your expectations.
The era of airdrops changing social classes is over; now, any gains are a success. So don't blindly chase after those very large results; lower your expectations. Just surviving makes you a winner.
Regarding HUMA's third season, based on the current market, with a 30% annualized stablecoin return, there is currently no project better than HUMA. Therefore, my strategy remains to continue investing in PST and follow HUMA to earn money slowly, making long-term profits!

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