There's three contenders for "might not go to zero" altcoins on HyperEVM, and they're obvious to anyone by now; in no particular order they are:
1. @kinetiq_xyz - defacto #1 LST that, with proliferation of HIP-3, will take all of us to the promised land
Question is - while distribution of airdrop will be indeed fairly hyperliquidesque, will the subsequent pumpanomics be similar (revshare/buyback?)
IMO strongest candidate for a hold but who the fuck knows.
2. @prjx_hl - they have the most difficult job of all, mainly because they're "just a dex"
May God help them because the creativity needed to ponzify/pump this is extremely high, but if there's someone who can do it, its them
3. @felixprotocol - the strongest of all the lending markets, albeit others are catching up in terms of TVL and feature set.
CDP/Liquity was relatively novel and has indeed stood the test of time, launching of stablecoin(s) (usdhl/feusd) also allowed for a bit of leeway, and they have indeed found some footing. Morpho integration skyrocketed TVL.
But, again, like other lending governance tokens - what's the revshare going to be, how do we know there's a sure buyer behind this?
If you don't bridge the gap between FOUNDATION and LABS or whatever the monikers you want to use - all your shit is going to zero.

The first (not #1) DEX on HyperEVM governance token now has a market cap of 3M USD.
This might as well be zero.
You're probably wondeirng: "wtf does that mean for my hyperevm farms?"
It's very simple - its been almost 5 years and everyone kind of knows how these things go.
This cycle:
JTO x solana
CLOUD x solana
JUP x solana
Last cycle:
aave/ethlend x eth
uni x eth
maker x eth
Project alts x native coin = on a long enough timeframe, the native coin always wins.
It used to be longer, but now its all a bit more compressed.
HyperEVM is home to the most bandit of all the bandits.
The biggest rapists to ever grace the blockchain.
And IQ on HyperEVM tends to be on the higher side (arguably at least 80+ IQ) compared to other chains.
No one wants to buy a non-aligned (zero revshare/buyback) governance token going into 2026.
Promises aren't enough.
Moat + Credibility is what is needed - and so far very few teams are displaying that.
Hence the price action.

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