Hyperliquid is the clear winner this cycle with $3.86B net inflows in the past year. But the chart also reveals two surprises: Sonic surpassing Solana and Worldchain in the top ranks. Sonic is positioning itself as a Solana-type, high-performance L2, capturing Solana’s dev + DeFi energy, and routing that through Ethereum. Meanwhile, Worldchain born from @worldcoin, is an execution layer with a massive user funnel (6M+ verified users). Its strength is in onboarding by leveraging identity + distribution to bootstrap its onchain economy faster. Lesson in here - flows are no longer dictated by speed or fees, they follow distribution moats.