Viewpoint: Hyperliquid's greatest moat is its tokenomics; a 30% token airdrop and low-price TGE benefit the community.

On December 9, crypto analyst Pickle stated that Hyperliquid’s greatest moat is actually its tokenomics. Lighter and other Perp DEX competitors may be able to achieve equally excellent UX/UI, and even use “payment for order flow” to hide fees (making costs appear lower), thus attracting and retaining liquidity. However, Hyperliquid does not have the kind of adverse tokenomics seen elsewhere, nor has it had a large portion of tokens taken by VCs at low prices, who then continuously sell at much higher prices to create selling pressure after making huge profits. This advantage of Hyperliquid is impossible to replicate. Especially allocating 30% of tokens for airdrops, allowing the community to buy at low prices and then participate in the upside—this kind of move is even more difficult for competitors to imitate. According to market data, the price of the HYPE token has fallen to its lowest point since May 21, now at $27.7, down 9.1% in the past 24 hours.