"Crypto tokens solve the cold start problem, which is the most bedeviling problem for creating network effect businesses in the world." Tokens solved it in DeFi summer - but without value capture, the wheel spun once and spat everyone off. Hyperliquid is the first to pair the cold start solution with a real flywheel that keeps spinning. FT @Matt_Hougan @RasterlyRock @LGDoucet.
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