Non-custodial DEX with full CEX feature parity ASAP should be the end goal.
There are CEX features (coin margin/UTA, privacy/prime brokers, earn tab, options, structured products/native aligned stablecoin) still lacking on HL right now.
It does not matter to me who builds them as long as we get these features used by as many users as possible ASAP.
Hence, my approach to the HyperEVM is to use it as if there were no points.
This mainly involves adding native staking yield to my HYPE collateral (LSTs) and borrowing against aforementioned yield generating collateral (Lending protocols) for leverage when needed.
Any additional points earned is just an added bonus and I’ll be using them without these points anyway.
Without complete information, I can only make guesses but I believe the BLP will result in an increase in nett new borrowing which should spillover into the rest of the ecosystem.
Hyperliquid will win long term.