ChainGPT_Pad official X post 2086806479282307401

Hyperliquid's RWA perps are booming - open positions just hit a record high.

But the fee-sharing deal hands half of every trade's fees to the outside builders who deployed those markets, and that half never reaches the pool that buys back $HYPE.

So even with record volume, the money funding buybacks has fallen four quarters straight. Read the split before you read the growth.