I’ve come to accept that HIP-3 was never intended to be permissionless (and neither was HIP-1 most probably) cash mounted the most promising assualt on xyz’s hegemony imo, but in retrospect, even with the full backing of tether and 200k USDT per week, there was no hope for cash wouldn’t surprise me to see hyena wind down soon, officially killing non-USDC quote assets and then paragon winding down, all but killing the permissionlessness of HIP-3 HIP-3 is permissionless, but I can’t help but feel that all the DEXs aside from xyz were setup to fail a market can be both free and anti-competitive simultaneously undoubtedly, xyz has the most capital and the highest level of execution, I’m not saying they don’t deserve what they’ve achieved but a monopoly of this scale is unnatural imo we’d all agree that hyperliquid has the most capital and the most competent team of all perp DEXs, but hyperliquid does not have the same level of monopoly over perps as xyz has over HIP-3 @Markets_xyz’s USDC redeployment and @Perpsdotfun are the only things standing in the way of total xyz domination I think it’s pretty self evident to anyone with eyes that unit/xyz is a proxy/extension of the hl team and if the “builder deployed” part of “builder deployed perpetuals” was really a charade all along, then @0xOmnia must be a very annoying problem, as required.