NGL, I love the Aster <> Hyperliquid drama. Feels like DeFi summer again.
Sushi pulled the first vampire attack.
Chef Nomi gave huge SUSHI rewards to deposit Uniswap LPs and then extra rewards to migrate them. Billions of TVL moved.
But it failed long term. Uniswap answered with the UNI airdrop and LP rewards, while Sushi had leadership drama.
What matters is building, trust in brand and community. Sushi’s community were mercenary farmers.
So I wouldn’t be surprised to see Aster and other perp dexes take market share from HYPE.
But in the end the winners are long-term builders with strong communities and sustainable incentives.
Unlike Chef Nomi, CZ looks like one of them. So is Jeff and his team.
(Btw, I always thought Sushi was backed by FTX?)
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