Will Price

Um, another of which is, uh, uh, you know, providing the same guarantees around, um, you know, execution and verifiability of, of, of collateral and, and, you know, proper functioning of the liquidation engine and the other things you get with the ZK.

HyperLiquid is a great product.

They've gotten great distribution because their product is great and they've formed a cult of sorts around it.

And I just happen to think that there are people that enjoy this other spot in trade-off space as well, and that the exchange ultimate landscape will have many winners.

And I think we see that with Coinbase and Binance and OKEx.

Bybit, how could I forget Bybit, in the centralized exchange venue space.

And I think we'll see similar in decentralized exchange space.

Yeah, so I think LIDAR is competing with the entire exchange space, not just the crypto exchange space.

And I think...

All of the best crypto exchanges would say the same.

There's a much bigger pie out there and LIDAR is positioning itself to win.

So there's a few different potential universes depending on how things shake out.

I think LIDAR can be a winner in multiple of them.

One potential future is that LIDAR becomes a globally popular exchange with a ton of first-party distribution.

Another possible future is that LIDAR achieves massive penetration on the infrastructure side, even though it doesn't wind up getting to global scale distribution directly itself.

And so I'm not sure exactly how things are going to play out, but...

What I do know is that it's a very talented engineering team with a good grasp on financial markets that is, you know, laser focused on getting to a outcome with scale.

Yeah, it's hard.

It's hard to know where the, you know, Telegram wallet user base comes from.

You know, obviously, Telegram is popular within the crypto community, but it's also very popular outside the crypto community.