观点：Hyperliquid最大护城河为代币经济学，30%代币空投和低价TGE利于社区

Blockbeats2025-12-09

BlockBeats 消息，12 月 9 日，加密分析师 pickle 表示，Hyperliquid 最大的护城河其实是其代币经济学。Lighter 和其他 Perp DEX 竞争对手或许能做到同样优秀的 UX/UI，甚至通过“支付订单流”来隐藏费用（实现看似更低的成本），也能吸引并留住流动性。但是 Hyperliquid 没有那种恶劣的代币经济学，也没有被 VC 低价拿走大量筹码、之后在高位...

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