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Fuzzel, app launcher and fuzzy finder has feature-packed 1.11 release
(mark.stosberg.com)
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I’ve tested them all and they all launch fairly immediately.
I discuss some of the other feature differences here:
https://mark.stosberg.com/rofi-alternatives-for-wayland/
I think for most people, Fuzzel will be the best choice, but compeitors offer unique features like Rofi-compatibility, HTML formatting support or the most important one: being written in Rust.