Tokyo pinging Hyperliquid in 3 ms. Amsterdam at 221 ms. That's simple physics. Light travels through fiber at roughly 200 km/ms. Hyperliquid's validators are in Tokyo, so the closer you are to Tokyo, the faster your orders land. 3 ms from Tokyo vs 221 ms from Amsterdam means a Tokyo MM sees price moves and reacts ~70x faster than someone in Europe. In a market where stale quotes get picked off in milliseconds, that gap is the difference between profit and getting eaten alive. This is literally the same problem TradFi solved with colocation, firms pay millions to put their servers physically next to the exchange matching engine. Same game, different chain. @HyperliquidX introduced priority fees, currently on testnet. MMs can pay HYPE for execution priority instead of building out infra next to Tokyo. Priority fees start making a lot more sense when you look at it this way. Can't colocate next to Tokyo? Pay for priority instead. Geography shouldn't decide who's the best market maker; strategy should.