.@Dreamcash announcing the sunset of its CASH (USDT) markets on @HyperliquidX 😅 Key takeaway: USDC’s native integration on the platform created an insurmountable UX moat. When the dominant stablecoin has seamless liquidity and lower friction, secondary stables struggle to compete, even with strong initial volume. This is HIP-3 Darwinism in action: - Winner-takes-most dynamics on synthetic/perp markets - Capital and attention consolidate around the path of least resistance - Builders shifting focus back to core product (mobile app) shows disciplined capital allocation Lesson: In permissionless ecosystems, product-market fit and liquidity flywheels win. Watching how this accelerates consolidation around the strongest rails.
http://x.com/i/article/2070446951183581184
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