mph

mph argues that Polymarket and Hyperliquid's HIP-4 are not competing for the same pie — Polymarket targets retail through TV ads and street activations while Hyperliquid's user base is already inside the crypto bubble, leaving room for both to thrive. Polymarket's announcement of perps directly escalates the rivalry into Hyperliquid's core territory, but mph expects the incumbent to hold the perps edge for the foreseeable future. Fragmentation across prediction markets ultimately benefits the sector, and an aggregated trading layer will matter more than any single native UI long-term.