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@0xNairolf A case can be made for Lighter

@0xNairolf no drop yet?

@0xNairolf Farmers are the real product 🫡

@0xNairolf At this point Best to farm next hyperliquid Airdrop that these tier d perps

@0xNairolf One hit One billion taken

@0xNairolf which one of the copycats do you think lasted the longest before the fees dried up?

@0xNairolf airdrop rumors are the actual yield product at this point

@0xNairolf they turned the airdrop into a subscription model farmers pay fees for months just to get nothing

@0xNairolf the token stays delayed because distribution would end the protocols cheapest acquisition channel traders paying fees to preserve a chance at ownership

@0xNairolf is this why $LIT is sitting at a $2B FDV? i mean healthy competition is good but Hyperliquid has nailed everything so I wonder why anyone would wanna use any alternative other than the airdrop speculation rumors ofc airdrop farming is ded in 2026 frfr

@0xNairolf farmers pay the rake

@0xNairolf exactly like this, although competition is good but till now there is nothing new and mostly copy cat

@0xNairolf the real yield is the airdrop hopium, farmers pay the price

@0xNairolf exactly. without bringing any value or net new stuff those perp dex aren't of any use

@0xNairolf What's your take on Variational

@0xNairolf this is honestly such a brutal take but it feels true

@0xNairolf the farmers are the whole product is the coldest line in this they really just run airdrop rumors as long as possible to farm fees

@0xNairolf What's your opinion on varia bro

@0xNairolf lol hyperliquid proved it works once and now it's just a hundred copies farming the same playbook

@0xNairolf fees are the real token

@0xNairolf exactly 💯

@0xNairolf lighter? aster?

@0xNairolf the farm loop is just manual entries meeting fresh incentives every cycle. same trader getting rinsed with a new logo on top

@0xNairolf the incentive structure is pretty obvious once you look at it this way farmers = product, fees = revenue

@0xNairolf At some point people need to ask whether they're using the exchange or just being used by it.

@0xNairolf Hyperliquid’s moat was distribution, liquidity and an early power-user flywheel; copying the UI and points only recreates the subsidy. The next winner needs unique flow, not rented volume.

@0xNairolf That’s exactly why I built this. perpetualfutures.education/ x.com/carlosindex02/status/208…

@0xNairolf Incentives don't just attract behaviour. They shape it.

@0xNairolf Many will learn this hard way