Dello

[Tushar Jain @tushar_jain]

1/ Multicoin published a full analysis & valuation of Hyperliquid (HYPE).

HYPE is now one of the largest positions in our liquid hedge fund. We've been accumulating aggressively since February.

Here's why we believe HYPE will be one of the best performers over the next cycle:

[Pavel Paramonov @paramonoww]

Top reasons to be bullish on Hyperliquid or at least consider learning about it more:

1. HYPE is one of the only investable assets in the whole world at the moment.

2. Hyperliquid never raised capital. Having no investors allowed founder to do whatever he wanted with the company. Team utilizes the time very efficiently.

3. No true competitor to the symbiosis of Hyperliquid and HYPE token. Look out for competitors in 2-3 years minimum (explain why in the article).

4. The token's value accrual (via buybacks) flows more directly between the protocol's usage and the community/team holding the token, there's no separate stakeholder class.

5. Founder was good enough to earn millions of dollars trading on his own. Trading is the most bad ass skill you could have: pure measurement.

6. Lighter has no advantage over Hyperliquid (enjoy being part of the sci-fi novel chains), and Aster was a fast attempt to conquer Hyperliquid, but no lasting financial infrastructure is built fast and out of envy.

7. If you look at Hyperliquid, even if you don't trade perps, you might still be interested in owning HYPE.

8. I use Uniswap and Aave on almost a daily basis, but why should I be interested in buying their tokens? To stake them and get even more (ouroboros), or vote in governance where private investors always have the majority of the voting rights? Thanks, I don't need that.

9. Hyperliquid is far from integrating the majority of trading instruments, currently there are only perps and binary options (prediction markets) live. Integrations of vanilla options will be one of the biggest and rewarding events.

10. Hyperliquid is positioned to keep pulling crypto traders away from Binance, Bybit, and OKX, while also drawing in commodity traders from traditional exchanges, potentially dominating this segment of the options market entirely.

11. Hyperliquid never invested money into marketing, and more importantly, into building its own ecosystem. The ecosystem play has always been the scam people have been falling for over the years.

12. People who want to use Hyperliquid or build on it don't need to talk to the Hyperliquid team directly. Smart decisions about setting a bar for market creation, no spam on the network.

13. Hyperliquid has a world-class team. Not in the sense that they hired the best people, but in the sense of management style. Don't think of Google, Meta, or Apple, think of Rockstar, Telegram, Valve.

14. Hyperliquid is a prime example of the "Zero to One" philosophy from Thiel's book. The idea of building a perp DEX is not new, but the idea of ruthless execution and literally not giving a damn about anything else is indeed new.

15. Another important thing to remember is that Hyperliquid emerged after the FTX crash, so you don't have to convince people about the benefits of self-custody, as this is now pretty self-explanatory.

16. Funny how conversations about "DEX vs. CEX" back in the day were pretty lopsided, and then the conversation changed to "Hyperliquid vs. CEXes" and became very serious.

17. $PURR and Hyperliquid Strategies are the only treasury companies in the world with a positive P&L.

18. If Hyperliquid's funding rates on perps undercut what's available elsewhere, capital flows in regardless of whether participants care about crypto.

19. Hyperliquid is both an open, composable protocol (like DeFi infrastructure) and a polished, sticky consumer product (like a well-run exchange app). Most projects are one or the other, in Hyperliquid's case, you don't have to pick a side.

20. Hyperliquid didn't feel the competition with other perp DEXes and started competing with crypto CEXes and major CEXes. That alone says everything you need to know.

[Citrini @citrini]

Hyperliquid.

[Arrakis @ArrakisFinance]

https://t.co/xjsHdOrP1k

[Colossus @colossusmag]

This is the story of Hyperliquid, the most profitable startup per employee on earth, told from a guarded office in Singapore.

Last year, its team of 11 generated $900 million in profit. It's 3 years old, has never taken a dollar of venture capital, and is beginning to change how century-old markets work.

Its founder, Jeffrey Yan (@chameleon_jeff), had never taken a physics class when he picked up a textbook at 16. Two years later, he won gold at the International Physics Olympiad. In 2019, he started trading with $10,000 from a living room in Puerto Rico—working off a television because he didn't own a monitor.

Within 3 years, he was running one of the largest anonymous crypto trading firms.

Then he shut it down. Yan was rich and free, but he had spent years inside crypto, watching it betray itself. Bitcoin's central premise was decentralization. Yet the biggest exchanges were centralized. Crypto kept reintroducing the dependence on trust it was built to eliminate. He set out to create what should have existed.

Hyperliquid is a blockchain with a trading exchange on top, and anyone can build on it. Yan's vision is to house all of finance. In 3 years, it has done over $4 trillion in volume. And in the past few months, it has begun to outgrow crypto.

Markets for oil, silver, and the S&P 500 now trade on Hyperliquid around the clock, weekends included, and are growing roughly 40% week on week. When the US and Israel bombed Iran on a Saturday in February, Hyperliquid was the venue traders turned to.

Hyperliquid's success has cost Yan his freedom. He works out of a secret office in Singapore and cannot travel without two bodyguards. Even the team's housekeeper doesn't know what they do.

In January, @domcooke spent a week at their office. Read his profile on Yan and @HyperliquidX below.

[DCo @Decentralisedco]

https://t.co/XvJfG9hix8

[nic carter @nic_carter]

Many are wondering "what Google saw" that caused them to revise their post-quantum cryptography transition deadline to 2029 last week. It was this:

https://t.co/dQtmTK9pdz

[Yaugourt.hl @Yaugourt]

HIP-4

Industry comparison is now live on Liquid Terminal.

HIP-4 vs Polymarket vs Kalshi, side by side.

https://t.co/6PO9OuKXUo

Quick takeaways:

Polymarket settles via UMA oracle on Polygon. There's a dispute window. You wait.

Kalshi is centralized. CFTC-regulated. The platform decides.

HIP-4 settles natively on L1. One block. No dispute. No waiting. No external oracle for price outcomes. Near zero cost.

Now the part most people are sleeping on: builder codes.

On Hyperliquid, any developer can build a prediction market frontend without deploying a single contract. The order book is already there.

The liquidity is already there. The settlement is already there.

You plug into the API, attach a builder code, collect a fee on every fill. The user approves once, you're live. All onchain.

Minimum barrier: 100 USDC and a good UI.

The next Polymarket won't be a protocol. It'll be a frontend. Competing on UX, sharing one order book.

Hyperliquid.

[0xAA @0xAA_Science]

受 WorldMonitor 启发，我做了一个 Polymarket 世界看板： PolyWorld

有了 PolyWorld，你可以实时看到世界上重大事件对应的预测市场，以及“内幕人士”对事件真实概率的判断，掌握时代脉搏。

网站: https://t.co/VkqpNJy4lv
开源: https://t.co/l4pww7IUXd
@Polymarket @PolyWorld_bet

[Pickle Cat @0xPickleCati]

https://t.co/tOENX9ro0P

[trade.xyz @tradexyz]

S&P Dow Jones Indices and trade[XYZ] have joined forces to launch the first official S&P 500 perpetual contract, available exclusively on Hyperliquid.

For 69 years, the S&P 500 has been a defining reference point for global finance. Until now, access to that benchmark has been shaped by market hours, intermediaries, and geography. Today, that changes.

The S&P 500 perp is now available 24/7/365, anchored by the official index data required for deep liquidity and institutional confidence at scale. 

SPDJI helped define modern indexing. They are stewards of an iconic benchmark, the standard against which portfolios across the globe are measured. We are honored to bring that legacy on-chain.

Trade[XYZ] is bringing the world's most iconic assets towards a future of global, continuous markets — a future powered by Hyperliquid.

[KK.aWSB @KKaWSB]

🚨突发新闻：这款开源工具可以根据现实世界的地图数据生成完整的 Minecraft 世界。

它叫做Arnis。你可以选择地球上的任何一个地点。Arnis会在Minecraft中一格一格地把它建造出来。

不使用任何模组。不使用任何世界编辑器。无需手动建造。

就是真实的地理知识。

它的运作方式如下：

→您可以使用矩形工具选择地图上的任意区域。
→它从 OpenStreetMap 获取地理空间数据。
→处理真实世界的海拔和地形数据
→将所有建筑物、道路、河流和地形映射到 Minecraft 方块
→生成一个完全可玩的Java版或基岩版世界

最离奇的部分来了：

它并非简单地将所有东西都扁平化成二维网格，而是重建真实的地形，包括山丘、山谷和海岸线。真实的海拔数据被转化为Minecraft地形。

你可以生成你的家乡、东京、曼哈顿、瑞士阿尔卑斯山，任何OpenStreetMap有数据的地方。

Tom's Hardware、Hackaday 和 XDA Developers 都对此进行了报道。它甚至被一篇关于利用 Minecraft 进行防洪教育的学术论文引用。

使用 Rust 编写。自带完整图形用户界面。支持 Windows、macOS 和 Linux 系统。

32 位贡献者。746 个分支。超过 8100 个 GitHub 星标。

100% 开源。

[Hyperliquid @HyperliquidX]

Over the past 2 weeks, RWA trading on Hyperliquid has repeatedly broken records, surpassing $1.3B in open interest and $1.4B in weekend volume.

When traditional markets are closed, Hyperliquid is the premier venue for 24/7 price discovery on oil, metals, indices, and other essential assets. This is an important step towards housing all of finance.

[Dello @Dello0377]

加密自10.11以來好久沒有這樣的感覺了

[Crypto_Painter @CryptoPainter]

为什么很多人连1w都拿不出来，却会认为100w很少？

这个作者讲的很好，顺带启发了我对于BTC真实价值的思考...

[Dello @Dello0377]

@sunlc_crypto 黃金真牛逼啊，所有情境分析出來都是漲的。

[Citrini @citrini]

I spent 100 hours over the past week researching, writing and editing the piece we just put out.

It’s a scenario, not a prediction like most of our work. But it was rigorously constructed, dismissing it outright requires the kind of intellectual laziness that tends to get expensive.

And we’ve released it for free. Hopefully you enjoy it.

https://t.co/YK8E11GcDU

[0xSun @0xSunNFT]

分享一下自己最近在做的几件事：

1、学习股票：随着资金量增大，了解新的投资领域很有必要，并且股票也是我认为普通人最有机会吃到AI红利的地方。我的做法是从基础开始，例如看美股市值Top200公司的资料，了解PE、EPS、期权这些概念，同时开始在链上进行一些美股交易，建立盘感。

2、Vibe Coding了一个每日全球新闻摘要：涵盖全球热门、科技/AI、金融/宏观、美股/A股/港股、风投、国际政治、大宗商品等板块，消息来源是各大权威媒体以及一些付费Newsletter。

3、了解投资Pre-IPO的渠道：美国顶尖科技公司从成立到上市的年份逐渐变长，很大一部分价值增长在私募投资阶段被消化。但是经过我这段时间的了解，目前非美国身份的个人投资者参与私募投资还是比较困难的，有合规、资金、渠道等各方面障碍。

4、咨询律师：包括用于跨境投资的实体设立和身份规划等等。

这几件事并行推进，同时又息息相关，例如新闻摘要有助于建立美股的投资逻辑，身份规划对投资Pre-IPO能起到帮助，虽然是加密熊市，反而每天都觉得时间不够用。

[Dello @Dello0377]

5年來也算是第一次見到了

[Dello @Dello0377]

@williamlab 最怕一輩子就這樣了