I always felt the missing piece was perps. Few months back I said all we need is to fork gmx/gains with POL and have a killer app. I got flamed hard for this view. But now there’s effectively gains fork on every chain running to multi Billions (Avantis on Base, Myx / Aster on Bsc). And almost all the (low liquidity) perps platforms on Bera seem to have died out. Nevertheless, I do agree that a “me too” perps protocol launching today is unlikely to succeed. In my view a solid derivatives trading platform must have (1) really good liquidity, (2) be attractive for the initial cohort of traders (it should be plusEV to trade, not “hyperliquid with more fees”), (3) differentiated asset selection (not low liquidity shitcoins, but high liquidity assets people want to trade). First of all, if anyone is cooking anything like this I’m happy to collaborate and help with development, liquidity etc. Shoot me a message! At Kodiak, we have been researching this topic in earnest for the past few months, and putting together a platform to facilitate this. Still too early to announce, but you’ll see our take on this in the coming weeks 🫡