From the very beginning of its product design, Hyperliquid has exchanged internal market maker profits for user numbers and trading volume. This is a strategic-level flywheel design, with its sub-features also built around creating a self-sustaining positive flywheel system. This is something that no CEX can achieve; you can't expect the exchange owner and internal market making head to give up the profits already in their hands. This is a systemic victory for users, who vote with their feet.

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