Omnia π

@kinetiq_xyz | @markets_xyz

[Omnia π @0xOmnia]

what the fuck lmao

[Markets Alpha @MarketsAlpha]

Today, a single share sale triggered millions of dollars in liquidations on Hyperliquid.

At 11:00 pm UTC on July 27, $SKHYNIX suffered a flash crash on Hyperliquid, falling roughly 20% within seconds before rapidly recovering.

The entire cascade began with a single share sold during the opening of South Korea’s Nextrade pre-market session.

At 8:00 am local time, an apparent order mistake caused one SK Hynix share to execute at ₩1,272,000, exactly at the daily lower limit and 29.96% below the previous close. Because there were almost no resting buy orders at the opening, that one-share trade became the first reference price.

The stock recovered toward ₩1.7 million within approximately two minutes, but the bad print had already reached the oracle used by Hyperliquid.

Around 4 seconds after the NXT session opened, the SKHYNIX oracle price was updated from $1,131.40 to $954.99, a 15.6% drop.

Liquidations began approximately 2.7 seconds later. The resulting cascade pushed Hyperliquid executions as low as $900.

In total:
-> 960 long accounts were liquidated.
-> $57.4M in positions were liquidated.
-> Those traders realized approximately $17.3M in losses.
-> The backstop subsequently triggered ADL against profitable shorts, realizing approximately $10.8M in profits across 100 accounts.

The main losers were:

https://t.co/Hqvv9QnTgI -$2.05M

https://t.co/1ot1YZfWuo -$1.37M

https://t.co/6AKyvWLSC3 -$1.31M

https://t.co/75Vys9pfHt -$1.02M

The largest profits realized through ADL were:

https://t.co/mxk6kkz55t $2.55M

https://t.co/NUsISTJ2Kj $2.22M

https://t.co/hlyVjTsTQg $2.19M

[Omnia π @0xOmnia]

@0xMerp LMAO

[Omnia π @0xOmnia]

@joff_hl :]

[Omnia π @0xOmnia]

@Kinetiq_xyz gonna have to agree

[Omnia π @0xOmnia]

@androolloyd very interesting

[Omnia π @0xOmnia]

@MavenHL Coded

[Omnia π @0xOmnia]

https://t.co/NDRdQ2zlcu has crept up to become genuinely the only interface I’d use to trade perps

It has indeed become that simple really

But wait there’s more

[Markets @Markets_xyz]

Introducing L4 Orderbook and Triggers.

Your broker shows you prices.

We show you the orders, the wallets behind them, and the real-time stops waiting to get hit.

[Omnia π @0xOmnia]

@0xasrequired Interesting

[Omnia π @0xOmnia]

@Markets_xyz @Kinetiq_xyz ty

[Markets @Markets_xyz]

Introducing L4 Orderbook and Triggers.

Your broker shows you prices.

We show you the orders, the wallets behind them, and the real-time stops waiting to get hit.

[r e e @Notnanoturner]

Daily reminder that you can pretty much track all the important HL traders, clusters, and insiders using the free trader tracker on the @Markets_xyz website

imho way more smoother than trying to monitor things using an explorer

Here are a few good traders you can monitor:

MU-INSIDER https://t.co/0ciwAKtK9A

LORACLE
https://t.co/Ynk1pY2b1R

OMNIA
https://t.co/DfEfav3oap

Try it here: https://t.co/qe1Gi0fvOP

[Omnia π @0xOmnia]

@SpencerApplebau Welcome to Hyperliquid

[Omnia π @0xOmnia]

@JensenHuang @nvidia Sir it’s time for an HD photo pls

[Omnia π @0xOmnia]

That was fun @Sokio8D

[Insilico Terminal @InsilicoTrading]

“The house of all finance is a multi-decade vision.”

@0xOmnia joins the Insilico Terminal Podcast to talk about building Kinetiq, betting early on Hyperliquid, and what comes next for the ecosystem.

We covered HyperBFT and HyperEVM, liquid staking, HIP-3 markets, perp DEX competition, institutional adoption, crypto tribalism, and whether Hyperliquid can become the home for all of finance.

00:00 NFT Market Making & Omnia’s Crypto Origin
07:05 From Hedge Fund Analyst to DeFi Builder
14:25 HyperBFT, HyperEVM & Hyperliquid’s Technical Edge
21:07 What Kinetiq Actually Does
28:13 K-HYPE for Traders vs Native Staking
35:07 Why Building on Hyperliquid Is So Difficult
41:15 Can Hyperliquid Become the House of All Finance?
48:58 Hyperliquid as an Existential Risk for Crypto
55:55 Perp DEX Competition & Hyperliquid’s Shrinking Moat

[Insilico Terminal @InsilicoTrading]

“The house of all finance is a multi-decade vision.”

@0xOmnia joins the Insilico Terminal Podcast to talk about building Kinetiq, betting early on Hyperliquid, and what comes next for the ecosystem.

We covered HyperBFT and HyperEVM, liquid staking, HIP-3 markets, perp DEX competition, institutional adoption, crypto tribalism, and whether Hyperliquid can become the home for all of finance.

00:00 NFT Market Making & Omnia’s Crypto Origin
07:05 From Hedge Fund Analyst to DeFi Builder
14:25 HyperBFT, HyperEVM & Hyperliquid’s Technical Edge
21:07 What Kinetiq Actually Does
28:13 K-HYPE for Traders vs Native Staking
35:07 Why Building on Hyperliquid Is So Difficult
41:15 Can Hyperliquid Become the House of All Finance?
48:58 Hyperliquid as an Existential Risk for Crypto
55:55 Perp DEX Competition & Hyperliquid’s Shrinking Moat

[Omnia π @0xOmnia]

@joff_hl Excellent

[Omnia π @0xOmnia]

@Sokio8D gg

[Omnia π @0xOmnia]

@mayorxbt Interesting

[Omnia π @0xOmnia]

Interesting

[Felix @felixprotocol]

The kHYPE loop quantified

With @kinetiq_xyz kHYPE continuing to be the dominant collateral asset across HyperEVM, we wanted to give a breakdown on the current status of the kHYPE loop and how returns are playing out at different risk profiles today. Let’s dive in:

Attached in graphic below is the breakdown at current Felix rates: Net APY = leverage × kHYPE yield − (leverage − 1) × HYPE borrow rate. kHYPE has averaged 1.94% APY over the past 14 days, and HYPE borrow against kHYPE on Felix is currently costing 0.84%, so result is +1.10% of carry per unit of leverage.

For kHYPE/HYPE, Felix prices kHYPE at its redemption rate, not its market price. In September 2025, kHYPE briefly traded at 0.88 on secondary markets. This is a position Felix's oracle wouldn't have moved.

Given that, where is the risk in the kHYPE loop? 1) Rate inversion: if borrow rates spike above staking yield, LTV drifts up. However, even at a sustained 10% HYPE borrow rate, drifting from 75% LTV to the 86% liquidation threshold takes ~1.7 years, and, even so, this 10% HYPE borrow rate rate would likely be arbed down in a matter of hours by HYPE lenders. 2) Exits: unwinding early means selling kHYPE at market price or waiting in the 8-9 day unstake queue. The oracle protects your health factor, not your exit price.

Run the kHYPE loop yourself, or feel free to reach out to our team for more data on the loop: https://t.co/uD2tWsAn1N