Bitcoin and USDT dominate crypto, yet both are second-class citizens-BTC fragmented across wrappers, USDT competing for general-purpose block space. Plasma rewrites this: stablecoins as native gas, pBTC as unified omnichain Bitcoin, building settlement rails for the assets that actually matter.

On-chain perps always faced the same trilemma: UX, decentralisation, or sustainability. Hyperliquid cracked it with their L1, but that was just the start. Builder Codes, HIP-3, and CoreWriter now transform it from a DEX into a financial infra stack where anyone can launch markets without compromise.

One of DeFi’s biggest inefficiencies is capital fragmentation. Liquidity sits trapped in DEX pools or lending vaults - split, idle. LPs must choose: earn swap fees or collect lending yield. EulerSwap tackles this with a lending-native design that unifies swaps, collateral, and yield into one system.