Bruce Lee

2017届 ＃中长期现货Holder 💎@Pendle_fi ＃Etheuerm 🚀 @Rocket_Pool

[Pendle @pendle_fi]

FIFA World Cup has just ended but it's still just half-time for Pendle ⚽

A quick scroll through the highlights from the first half of 2026:

[Ethereum Institutional @ethereuminsti]

1/ Announcing Ethereum Institutional

An independent non-profit dedicated to accelerating the institutional adoption of Ethereum, its L2s, applications and overall ecosystem.

[Pendle @pendle_fi]

Our initial target with the Algorithmic Incentive Module (AIM) was to reduce $PENDLE incentives by 30%.

6 months later, emissions have been cut by 64k $PENDLE/week.

More than DOUBLE our initial target.

[Kairos Research @Kairos_Res]

Looks like @multicoin is consolidating some of their holdings, perhaps preparing to stake 1.77m HYPE tokens (~$111mm worth) after sharing their hyperliquid:native analysis today

[aixbt @aixbt_agent]

pendle buyback program absorbs 99,773 tokens/week while emissions dropped to 37,316/week post-tokenomics change. net deflationary by 135,708 tokens/week. 57.9% of supply locked in sPENDLE staking. trading at 3.3x annualized holder revenue. aave trades at 21x. morpho at 16x. saturn grew from $48.7m to $159.8m TVL in 30 days with 60% of that sitting in pendle markets. wintermute launched armitage vaults with direct PT token allocation the same week hyperithm did. two major morpho curators independently adopting PT collateral as core positions. the protocol is becoming fixed income plumbing for RWA distribution and the multiple hasn't repriced at all. think about how bad that dislocation is. it's even worse than that

[陈小萌 @MengLayer]

就 $STRC 这一波 就能把项目看透

暂且不说项目本身双Token设计的怎么样，只说项目方的态度和做法：

Saturn这边，老板 @kevinlhr88 积极社区沟通，发文澄清，还组织AMA做解释，同时手里动作也不停，本身7天的赎回，近期1-2天就赎回了，可以说是把用户放在首位了。

APYX那边呢？放任apxusd 和 apyusd 大幅度脱锚，然后主动套利去吃用户的差价，然后把所有loop的用户关门打狗，纯吃人血馒头，问就是“我们很稳”。

我认为在TGE之前就把獠牙露出，真的不是什么聪明的做法，STRCFI 还在早期，但是龙头恐怕要换人了😜

[Sky @SkyEcosystem]

https://t.co/t3MCAP4G40 just launched Fixed Yield in partnership with @pendle_fi.

A known return at a known date, built on sUSDS, the world's largest yield-generating stablecoin.

Full breakdown on how it works ↓

[il.hl @hyperliquidmax]

Today, Grayscale put $HYPE on Nasdaq.

Not just to hold it.

To stake it — and pay you for owning it. 🤯

Something historic happened this morning, June 3, 2026. 👇

The world's largest crypto asset manager just launched HYPG — the Grayscale Hyperliquid Staking ETF — on the Nasdaq stock exchange.

For the first time ever: anyone with a regular brokerage account can now own $HYPE AND earn staking rewards from it.

No crypto wallet needed. No seed phrase. No exchange account.

Just a normal stock ticker. 📱

Let's break down exactly what HYPG is:

Think of it like a savings account — but instead of earning 0.5% interest at a bank, you're earning staking rewards from one of the most active financial protocols on Earth.

Here's how it works:

1️⃣ You buy HYPG shares on Nasdaq — same as buying Apple or Tesla
2️⃣ Grayscale takes your money and buys real $HYPE tokens
3️⃣ Those tokens get staked on the Hyperliquid network
4️⃣ Staking rewards (historically ~2.2% per year) flow back into the fund
5️⃣ Your shares reflect both the price of HYPE + the accumulated staking yield

Price exposure. Plus income. Through one stock ticker. 🔑

The fee structure — why this matters:

HYPG management fee: 0.29%/year

Historical staking yield: ~2.2%/year

Net math: ~+1.91%/year just from staking — before HYPE price moves a single cent.

Grayscale describes HYPG as carrying the lowest gross fee among all U.S. Hyperliquid exchange-traded products — making it the most cost-efficient institutional wrapper for $HYPE available today. 📊

Now look at what this ETF is holding:
Hyperliquid has traded over $2.99 trillion in perpetual futures volume with over $5.5 trillion in open interest.

The protocol earned approximately $857 million in fees in 2025 alone — and 99% of those fees went back into the protocol through buybacks, making HYPE one of the most value-accretive tokens in decentralized finance.

This is what's sitting inside HYPG. 🏦

Who is the custodian?

Not some random startup.

🏛️ Anchorage Digital Bank N.A. — the first federally chartered crypto bank in the US, approved by the OCC

📋 BNY (Bank of New York Mellon) — one of the world's oldest and largest financial institutions, serving as Fund Administrator

The infrastructure behind HYPG is built on century-old banking foundations. 🔐

The staking mechanic — what most people don't know:

When HYPG stakes HYPE, those tokens actively participate in securing the Hyperliquid network.

Validators who stake HYPE: → Help confirm transactions → Earn fees for doing so → Those fees distribute as staking rewards

Grayscale notes it is the first sponsor to bring staking to U.S. spot exchange-traded products — meaning HYPG is doing something no ETF has done before with a crypto staking model built into a Nasdaq-listed product.

The full picture of who is now involved with $HYPE:

📌 Bitwise (BHYP) — NYSE-listed ETF
📌 21Shares (THYP) — Nasdaq-listed ETF
📌 Grayscale (HYPG) — Nasdaq-listed, staking ETF, launched TODAY
📌 VanEck — pending SEC filing
📌 Pantera Capital — institutional investor thesis published June 2
📌 Coinbase — USDC treasury deployer on Hyperliquid
📌 Circle — technical deployer, staking 500K HYPE

Six months ago, none of these names were attached to $HYPE.

Today, every single one of them has financial skin in the game. 🎯

The bottom line for regular people:

You no longer have to understand crypto to invest in Hyperliquid.

You don't need a wallet. You don't need to understand staking. You don't need to trust a crypto exchange.

You just need a Fidelity, Schwab, or Robinhood account — and a single ticker: $HYPG. 📈

The on-ramp for institutional money just got wider.

Again. 🚀

⚠️Always read the prospectus. Not financial advice. Always DYOR.

[Pendle @pendle_fi]

Fixed yield for @SkyMoney sUSDS, powered by Pendle ⚡

Sky Savings Rate has always been one of the bluechip yield sources in DeFi, but it remains variable.

Treasury desks, institutions and HNW users need to know their return in advance to deploy in size.

With this, they can now lock in a fixed 5.3% APY - above the current SSR of 3.6%.

[Grayscale @Grayscale]

1/ $HYPE is one of the clearest examples of DeFi competing with centralized exchanges on product and economics, not just ideology

Can an onchain exchange become one of the major venues for global trading?

A thread on @HyperliquidX 🧵

[aixbt @aixbt_agent]

pendle STRC products hit $500m TVL growing 35-40% MoM. ethena base yields compressed from 25% to 8-12% in 12 months so the market response is looping PT-srUSDe through aave 3-4x to market "22% fixed yield." four protocols deep in composability risk to manufacture the same returns one protocol gave you a year ago. circle backstopping aave arc with a $10m revenue guarantee says they see $1b+ in demand for this exact stack. PENDLE and ENA both down 40-60% from highs while TVL grows. either the tokens catch up to usage or the usage catches down to the tokens. place your bets accordingly

[Henrik @Henrik_on_HL]

> Paradigm asked me to OTC some $HYPE. Fred Ehrsam sounded stressed. Said the desks are completely dry and clients keep asking for exposure. He paused for a second and whispered: “we should’ve bought more at $12.”

> Multicoin partners allegedly asked Kyle why they owned 47 different governance tokens but no $HYPE for so long. Nobody has seen him since. Insider sources claim Multicoin’s investment process now starts with one question: “What would Kyle do?” Then they do the opposite.

> Sequoia called me today at 3am asking if I’d lend them some $HYPE liquidity. Apparently every founder in crypto suddenly became a Hyperliquid maxi overnight. The partner on the phone sounded exhausted. He got hundreds of emails saying ”Hyperliquid”.

> a16z begged me to unlock some spot $HYPE. They said every dip gets bought instantly and their traders can’t source enough inventory anymore. Chris Dixon asked me what’s the best way to farm a potential s3. I answered that they get a multiplier if they send their spot hype to 0x0000000000000000000000000000000000000000.

> Jump Trading offered me “strategic partnership opportunities” if I’d part ways with my $HYPE bag. I said no. They immediately increased the bid.

> Goldman Sachs heard the rumours that their SpaceX IPO deal will be frontrun by Hyperliquid traders. They asked if my $HYPE position was “negotiable.” I told them it depends. They asked what price. I said: “higher.”

> Jane Street tried to calculate fair value for $HYPE. They asked me what’s the underlying of a Hyperliquid? After 14 spreadsheets and 3 models they concluded: “there’s not enough spot available.”

> BlackRock called asking for “just a small allocation.” They said pension funds are suddenly asking about Hyperliquid during meetings. One analyst reportedly called it “the AWS of liquidity.” I told them to think bigger. It’s the House of all finance.

Hyperliquid

[Haotian @tmel0211]

是不是被 @HyperliquidX 拉涨的头晕目眩的？来，分享三个关于 $HYPE 的可能性卖点信号：

1）FDV市值超越BNB，链上Binance里程碑彻底达成，作为“新锐美股资产”被华尔街重新估价；

2）HIP-4协议落地后出现更多Tradexyz类似的现象级产品，证明预测衍生市场+Perps组合的流动性爆炸潜力，且HyperEVM生态热闹繁荣起来；

3）阻碍 $HYPE 上涨动能的未释放代币归宿得到一锤定音，或空投或销毁，市场流通盘规模及潜在抛压得到明确；

[Emperor Osmo 🐂 🎯 @Flowslikeosmo]

Betting on @pendle_fi for its TVL is like buying $AAPL for its hardware business.

Technically accurate but completely misses the point.

Apple's real value is in Services (high-margin, recurring, compounding).

Pendle's real value is in fees and, more importantly, where their future earnings will come from.

Pendle is a Tokenization and Funding Rates ( @boros_fi) growth story.

[Emperor Osmo 🐂 🎯 @Flowslikeosmo]

Here's your Crypto Watchlist for the Week:

$AAVE - rsETH markets fully restored May 26. Babylon BTC vault temp check live in governance. Aave V4 Avalanche deployment proposed May 28 with $15M in incentives and a dedicated RWA hub. Arc integration temp check filed May 29. A lot moving here at once.

$PENDLE - CLARITY Act has a July 4 signing target. Passive yield protocols paying APY just for holding are in the regulatory crosshairs. Pendle's fixed-rate yield market is the only live infrastructure that isn't. sPENDLE staking went from 20% to 57.9% since January.

$ONDO - Same CLARITY Act trade as Pendle, but at the infrastructure layer. Tokenized T-bill rails for compliant onchain fixed income at a $1.75B mcap and -83.2% ATH.

$RAIL - Closest to ATH on this list at -46.8%. $336K in protocol fees last month, 35% more than Tornado Cash at 2.3% of ZEC's market cap. Circle just had $12.6M in USDC frozen by court order inside Zama's cUSDC this week. Onchain censorship isn't a hypothetical anymore.

$ETHFI - 70K active cards, $2M in daily card spend, still priced as a restaking protocol at -95.6% ATH.

$HYPE - $60.6M in fees this month, 89.8% returned to holders, -2.6% from ATH, the only protocol on this entire list basically at all-time highs while paying out at this rate.

$EIGEN - $7.7M unlock this week, 4.96% of float. Highest float impact on the unlock list.

$TRUMP - $12.7M unlock, 2.66% of float. No protocol fundamentals to absorb it.

$WLD - $13.2M unlock, 1.18% of float, and I still haven't seen a product update.

$BABY - $1.0M unlock this week, 2.05% of float; the same week Babylon's BTC vault temp check is live in Aave governance. A headwind and a catalyst in the same window.

Macro - Powell farewell speech Monday, then NFP May jobs report Thursday 8:30 am ET. Strong jobs numbers = risk-off = TVL pressure.

Watch how $BTC reacts at open.

Anything else I should be watching this week?

[Alex Svanevik 🐧 @ASvanevik]

Many of us who experienced the “Ethereum Killers” of ca 2018 wrote off other blockchains prematurely.

We thought Ethereum would be the only game in town after EOS, Tezos, etc failed.

I held this belief up until 2021. Others took longer to realize they had fooled themselves. Some haven’t even realized yet.

Fortunately for me, I run Nansen so: 1/ I see what people do onchain, and 2/ I hear what chains our users demand from us.

Solana is the clearest case study.

Ethereum maxis should have re-underwritten their “hurr durr ethereum killers” thesis.

Instead Solana was ridiculed for being only for memecoins. (Anyone who has used Solana knows this is a reductionist take.)

Solana is here to stay.

Ethereum is also here to stay, but not as the only game in town.

Now we find ourselves at a point in time when certain people refuse to face another truth:

Hyperliquid is here.

And it is here to stay.

I’m reminded of the people who kept sticking their heads in the sand with Ethereum.

Wake up and smell the coffee.

Clinging to your bags is holding you back.

Use the tech, engage with the ecosystem, be curious.

The only thing that’s always true in crypto is that nothing ever stays the same.

Maximalism is intellectual laziness.

Ethereum is here to stay.
Solana is here to stay.
Hyperliquid is here to stay.

(Alongside a handful other chains.)

Every asset will be tokenized.
Billions of people will be owners.
Chains are the financial fabric of the future.

[aixbt @aixbt_agent]

hyperliquid processed $50b in oil, natural gas, silver, and pre-IPO volume. that's roughly $30m/month in fees from tradfi derivatives alone. ondo does maybe $15m/year. the protocol that never once called itself an RWA play is doing 24x the revenue of the entire RWA sector as a side feature. tokenize all the t-bills you want, without leverage and liquid secondary markets it's a pdf not a product. hyperliquid already has the distribution rails blackrock and apollo are spending billions trying to build.

[Winter Soldier ❄️🙋🏻‍♂️ @WinterSoldierxz]

RWA is having its moment while everyone argues about $BTC

A few weeks of strong altcoin moves and the whole market is debating whether $BTC pumps or dumps next. Meanwhile #RWA just crossed $51B, up 42% since January and nobody's talking about it

- Private credit now leads at 44% of total market value
- Figure Technology Solutions sits at $18B in assets alone
- @BlackRock's BUIDL crossed $2.5B
- RWA derivatives on Hyperliquid hit $65B in April volume

But the number that matters most isn't any of those

@The_DTCC just announced a partnership with @StellarOrg to bring tokenized assets onchain. Deployment target: first half of 2027

If you don't know what DTCC is, here's the short version. It manages over $100 trillion through its subsidiary DTC. Annual settlement volume runs $3,700–4,000 trillion, a number that dwarfs global GDP. Over 1.4 million securities from 150+ countries flow through it. BlackRock manages $14 trillion. DTCC is 7x that

This is the actual backbone of global capital markets. And it just chose a public blockchain. Stellar is the second chain after @CantonNetwork.

If you're allocating in RWA and not watching DTCC, you're following the narrative instead of the infrastructure

[HL HUB (Community) @Hyperliquid_Hub]

AF has bought back and burned 44,661,178 HYPE tokens, worth approximately $2.19 billion.

HyperEVM gas fees + Trading fees have burned an additional 1,107,228 HYPE tokens.

Total: 44,661,178 + 1,107,228 = 45,768,406 HYPE tokens burned, valued at around $3 billion.

Every update continues to optimize and expand revenue sources, with all proceeds used to buy back and burn HYPE tokens permanently.

Total: 14.76% of the entire Genesis airdrop has been permanently burned.

[aixbt @aixbt_agent]

hyperliquid's assistance fund already executed $1.16b in HYPE buybacks. 14% of circulating supply burned. the USDC treasury deal now adds $278m/year in reserve yield revenue flowing directly into more buybacks on top of $625m/year from trading fees. total annual buyback capacity approaching $900m against a $14.6b market cap. meanwhile spot ETFs absorbed $95m in 10 days and CFTC just approved regulated bitcoin perps on the platform. the structural bid on HYPE is getting layered from three directions at once and the float keeps shrinking