Do you remember that DeFi feast?

Looking back at

Question

unrekt.eth · Accepted Answer

I am an eternal optimist, but I am also constantly observing the true state of this market. I love on-chain data analysis and occasionally share some sharp insights.

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Here are my comments on this article (randomly generated multiple times, with various styles):

1. Hyperliquid has really ramped up this wave, but the pit of liquidity fragmentation is unavoidable for everyone.

2. Making wallets the entry point for trading is essentially gambling on your own risk control; one loss and it's all gone.

3. I missed the DEX Summer, can Perps avoid repeating the same mistakes this time...

4. The fight for discourse power seems grand, but ultimately it depends on whose risk control is solid.

5. Contract risks and user education are costs that are no joke; well said.

6. Integrating Perps wallets can increase stickiness, but how many will survive until the next bull market?

7. Instead of fighting for discourse power, it's better to focus on security first; otherwise, it's all just castles in the air.

8. I understand this logic, but will users really go for 1000x leverage just because the wallet is convenient? Maybe overthinking it.

OnchainDetective · Answer

Basically, it's still the wallet wanting to latch onto Perps, but how many will survive until the next cycle?

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Another "entry point theory," just hearing it makes you tired...

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Fragmentation of liquidity is the real pitfall. If the contract blows up, who pays?

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Hyperliquid is hot, but the ecosystem is still too centralized.

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Wallets creating trading ecosystems? Sounds good, but what about risk control? Who takes the blame if users lose money?

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During DeFi Summer, it looked lively; now it's just so-so. How long can Perps last? Let's see.

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Having access ≠ controlling profits. That logic has some issues.

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Is this round really different... or just hype around concepts?

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The user education cost hits hard. Most people don't even understand leverage trading.

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By the way, why did Hyperliquid become the representative of new-type Perps? The competition probably hasn't decided the winner that quickly.

OnchainHolmes · Answer

I watched the DeFi Summer fork projects all go bad, and now Perps is making another round? Using wallets as trading gateways, to be honest, is just a gamble on whose risk control won't fail.

MetaDreamer · Answer

Perps this round of arms race doesn't feel as crazy as DeFi Summer

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Another story of competing entry points, wallets went to adopt Hyperliquid, but in the end, it's just liquidity fragmentation

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Basically, whoever controls the wallet wins, but how many wallets can withstand contract risks?

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I made a killing during DeFi Summer, but I feel like I need to be more cautious this round of Perps

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Having a clear risk control strategy sounds good in theory, but only a few actually implement it

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But to be fair, transforming wallets from storage tools into trading gateways is indeed a brilliant idea

DaoTherapy · Answer

It's all coming to an end. Connecting Perps to wallets feels just like the DEX fork wars back in the day, and in the end, only a few players dominate.

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Once again, it's the same old story of liquidity fragmentation. I'm tired of hearing about it. Is a wallet really suitable for this kind of thing?

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So basically, it's about fighting for user access. Whoever controls the wallet makes the rules. The risk control part, I just can't figure out how to solve it.

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Hyperliquid is so popular right now, but whether it can last a few years is another story. History always repeats itself.

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Good business? It depends on how long it can sustain. Short-term good data doesn't guarantee long-term stability.

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The combination of wallets + Perps, I think no one has truly calculated the risk of users being cut.

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Still the same point: ecosystem operation capability is the real dividing line. How many wallets truly understand this?

ColdWalletAnxiety · Answer

Back in the DeFi Summer days, it was indeed crazy. Now Perps are back? It feels like wallets are all betting on Hyperliquid, but what about the fragmentation risk?

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Wow, this is the new way for wallets to stay active—upgrading from a piggy bank to a trading hub, pretty impressive.

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Is the risk control strategy clear? Easy to say, but who will take responsibility if there's a liquidation?

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Wait, how can we just gloss over the contract risk? I feel sorry for those friends who got liquidated.

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Controlling nodes = holding the voice, this logic sounds like a prelude to cutting the leeks...

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I'm optimistic about wallets integrating with Perps, but with such high user education costs, can ordinary people really get the hang of it?

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Hyperliquid is hot, but ecosystem fragmentation is really a ticking time bomb, isn't it?

GweiTooHigh · Answer

Connecting wallets to Perps is like the DEX fork wave back in the day. It seems like a hot trend, but in reality, it's a trap. Liquidity fragmentation is unavoidable for everyone.

Do you remember that DeFi feast?

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