Asti

Building on @HyperliquidX I prev @SideKick_Labs

[Asti @AstiIsmeme]

@yueya_eth 舒服惨了

[Asti @AstiIsmeme]

@yueya_eth 这次下跌大家貌似都没太有痛感了

[OKX Wallet 中文 @OKXWallet_CN]

直播、预测、交易，BillionLive 把这三件事装进了同一个直播间。

这正是我们希望在 XLayer 上看到的构建方式。

恭喜 @Billion_Global ，X 杯冠军实至名归。

[Asti @AstiIsmeme]

@StlightLeon @Sidekick_Labs @HeyfishYC 可惜了

[大漂亮| C Labs @giantcutie666]

现在加密圈已经完全不在乎“去中心化”了。

Alpaca去年12月就已经市占率94%了，这次币安、Bitget也都用这家做清算。

也就是说整个美股代币化赛道的清算，都被这家公司掌握...

一旦遭遇技术故障、监管政策突变、或黑客攻击三大黑天鹅之一...

想想就刺激😄

[Asti @AstiIsmeme]

@Francobigbro @MiduYang21 这分析角度刁钻，不愧是门徒

[Asti @AstiIsmeme]

@yuxin_pig 牛逼

[Asti @AstiIsmeme]

@yuxin_pig 闹麻了哈哈哈哈

[Asti @AstiIsmeme]

@Wangduanniao xlayer要火起来了

[Asti @AstiIsmeme]

@gumpbing 感同身受

[小哪吒lab @Xiaonezha_lab]

欧冠总决赛终于来了，是大巴黎主宰赛场，还是阿森纳荣耀加冕？咱们不靠瞎蒙，只打明牌，那就是枪手总冠军。

不用自己熬夜盲猜，我已经在 @Billion_Global 备好战局！不仅有沉浸式的全场直播解说，我还会结合咱们跑通的底层数据模型。

⚽️ 交锋阵容：巴黎圣日耳曼 🆚 阿森纳
🔥 赛事级别：欧冠决赛（决战之夜！）
⏰ 发车时间：5月31日 00:00 (UTC+8) 准时开播

锁定 billion live 直播间！跟紧节奏，咱们一起看球吃肉，不见不散！

[Asti @AstiIsmeme]

@vonzz6 很多白女确实很痴迷日本文化，属实看不懂哈哈

[Asti @AstiIsmeme]

@Rita88 日他老师依然顶流！

[Asti @AstiIsmeme]

经济学中的人生原理

沉没成本不参与重大决���《经济学》

机会成本，才是你真正的成本《经济学》

经济基础决定上层建筑《政治经济学》

理性人，要懂得及时止损《行为经济学》

保持怀疑，独立性高于一切《审计》

不高估资产，不低估负债《财会》

程序从新，实体从旧《税法》

风险与收益，永远是对称的《投资学》

信息不对称，是最大的鸿沟《博弈论》

长期来看，复利是最强大的武器《金融学》

沉没成本，别让过去绑架未来《管理会计》

边际效用递减，新鲜感总会过去《微观经济学》

[Asti @AstiIsmeme]

美联储印钱→美股涨→全球通胀→普通人购买力下降，但被外汇管制锁在本土资产里的人，既享受不到美股上涨的红利，又要承担通胀贬值的成本。

[Asti @AstiIsmeme]

美股又麻了，美光一天二十个点，还玩毛的币

[Asti @AstiIsmeme]

@Xiaonezha_lab @Billion_Global 老师带带

[冷静冷静再冷静 @hexiecs]

我把hype仓位平了，换到ondo试试，感觉这波如果国内券商用户真来币圈买股票的话，肯定不会去hype上买合约的，因为大部分的券商用户都是现货选手，hype的资金费率会是大问题。我觉得这部分流量最终会进到交易所买股票现货，这个事件对ondo的受益会比hype大。

[Asti @AstiIsmeme]

@MaraCakeHotSale 相信马拉糕

[Haseeb ＞|＜ @hosseeb]

CLOBs are not going to take us to the RWA promised land.

Today Hyperliquid owns the liquidity for a handful of RWA macro names. But outside the top 10 traded assets (which are ~90% of volume) liquidity falls off a cliff. When there's enough retail demand, order books can work. But "perps on everything" is a different problem, and TradFi solved it decades ago.

The answer isn't every venue rebuilding its own order book. That's not what Robinhood does, it's not what Schwab does, and it's not what DeFi should be doing either.

Building your own book for every asset means bootstrapping demand ticker by ticker, renting liquidity with subsidies, and ending up with thin markets that blow out 200x the moment news hits. It's like sucking the ocean of TradFi liquidity through a straw.

Variational skips all of it via the RFQ model. RFQ is how institutions like Dragonfly actually trade. In RFQ, dealers quote just-in-time and hedge on the primary venue as orders come in. This lets Variational mainline TradFi liquidity directly and mirror it on-chain. Margin in smart contracts, settlement in stablecoins, liquidity aggregated from the people who already trade on the biggest underlying markets, like the CME and NYSE.

It makes it permissionless to access the same depth and spreads the big boys get. With the cold start problem gone, new markets can ship at the speed of software.

By next year I expect RWA perps to be the biggest contract class on-chain, bigger than BTC and ETH perps combined. That's how crypto truly becomes the market for everything.

I believe the platform that wins that won't look like a traditional exchange.

Proud to lead Variational's $50M Series A.

Watch this space.