COMEX is the world's largest silver futures trading venue and the benchmark for silver price discovery. Last Friday, COMEX traded 365,766 contracts, representing approximately $143 billion in notional value. Meanwhile, @HyperliquidX (built with HIP-3 code) saw its trading volume exceed $1 billion for the fourth consecutive trading day, reaching $3 billion last Friday, representing about 2% of COMEX silver's notional value. If decentralized exchanges (DEXs) can truly enter the commodities/RWA futures market, they will enter a much larger market. Incidentally, COMEX has existed for centuries, while the silver HIP-3 market may only be a few weeks or months old.