0xResearch Hyperliquid vs Lighter, Launchpads, and Prediction Market Evolution | Livestream
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Dec 8, 2025 The discussion dives into the competition between Hyperliquid and Lighter, highlighting product design and market dynamics. Uniswap’s Continuous Clearing Auctions are examined for their fairer price discovery benefits. The hosts debate the impact of token launches and VC allocations on community trust and value accrual. Retail investor behavior is scrutinized, questioning if they're becoming savvier. The role of prediction markets is analyzed, contrasting hype with potential utility, while emphasizing the importance of founder-led marketing in the crypto space.
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Lighter Is The Real Perps Threat
- Lighter is Hyperliquid's clearest competitor because it ships an all-in-one, in-house product with rapid feature expansion.
- Daniel Boccaccio warns token value-accrual design will decide long-term winner, not just UX or latency.
Show Clear Fee-To-Token Mechanics
- Design how fees convert into token value early and transparently to satisfy market expectations.
- Use clear buyback or accrual mechanics (partial percentages are fine) to signal meaningful token capture.
Ownership Coins Could Shift Token Norms
- The 'ownership coin' model could become a preferred standard for aligning token and equity value.
- Danny hopes combining token rights with equity clarifies value and reduces token-as-meme outcomes.