Key Risks & Concerns - Token unlocks pose a significant risk, with $500 million worth of team tokens becoming available annually starting in November [1] - Intensifying competition from platforms like Lighter and Aster is eroding HyperLiquid's market share, previously at 60-70% [1] HyperLiquid's Potential & Hayes' Strategy - Arthur Hayes initially predicted a 126x surge for HyperLiquid's token (HYPE) but later sold his position [1] - Hayes acknowledges HyperLiquid's technological advantages and the potential to reach the 126x target by 2028 [1] - Hayes is waiting for HyperLiquid to demonstrate a competitive moat and actual fee-earning capacity before reconsidering his position [1]

Product Update - The company's app now allows users to view and add key events to their calendars [1] - This feature eliminates the need for users to switch between different tabs [1] Potential Use Cases - The app can be used to track events such as FOMC meetings and token unlocks [1]