The industry's demand for high-performance public chains remains, in sectors such as perp DEXs, AI agents, and payments. In fact, these are all the stories that Monad and MegaETH previously told, except that none of them managed to complete a commercial closed loop. This is because high performance solves the problem of supply capacity—it does not automatically create demand. But demand still exists. So the industry will continue to see new high-performance public chains emerge one after another to compete with these older ones. For example, the newly referenced BNB new chain, and @Enter_Elysium about to be launched by @Kinetiq_xyz and @0xOmnia—they too are telling new stories, supplementing the limitations of Hyperliquid on HyperEVM. Essentially, they are all telling the same story. The difference lies in the fact that the sources of their first batch of real demand are different. The BNB new chain expands outward based on existing brand, users, and assets to onboard more demand for high-performance chains. Elysium, on the other hand, builds on Hyperliquid's existing trading demand, attempting to bring on-chain assets and liquidity, as well as other financial applications (such as speculate's hip-4 and card gacha), into the Hyperliquid core spot side. Experience tells me that those who eat the crab first rarely have a high chance of success. More often, it is the second wave of players who, having learned from the lessons of their predecessors, have the opportunity to build a product better suited to the industry and market on top of validated demand trends—and then capture users and value.