threats i see to HL currently 1) lighter TGE 2) $LIGER launch 3) CZ crimes $ASTER to 2 4) retarded people selling into team unlocks 5) retarded people selling into DAT buying cons to this argument 1) AF1 2) AF2 3) AF3 4) AF4 5) AF5 I believe the AF serves two primary purposes 1) 99% buybacks fee switch effectively turns the token to equity 2) many people think that the AF is there to keep prices high. I disagree. The AF is there to keep the FLOOR high. What this looks like in practice: Market dumps hard = hype dumps hard market ranges at lows to consolidate AF buys up HYPE majors double bottom HYPE doesnt touch the bottom, but a couple % higher. This leads psychologically to wicks not getting fully filled, traders looking for greedy fills get punished and buy back higher, squeezing people out. Additionally, the AF buys on the way back up lead to limits being unlikely to get filled, as its a permanent bid eating up the order book. A lot of times it looks good to sell HYPE, only to get punished by the swiftest face ripping recovery, which is why many people get super salty. .hls are people that stare at charts all day. If you dont put in the same amount of time staring at the hyperliquid chart, watching every jeff interview, reading all the technical documentation, and staying on top of trends within the ecosystem, how can you expect to outperform top HYPE holders. hyperliquid