Theyre using:
Mark price is the median of the following prices:
1) Oracle price plus a 150 second exponential moving average (EMA) of the difference between Hyperliquid's mid price and the oracle price
2) The median of best bid, best ask, last trade on Hyperliquid
3) Median of Binance, OKX, Bybit, Gate IO, MEXC perp mid prices with weights 3, 2, 2, 1, 1, respectively.
Therefore in effect only prices (1) and (2) can be used for the mark price, while (3) can never affect the mark price (under the current conditions). The "fix" has had absolutely no impact on the market. This is v different from what was expected based on the announcement.
To your most earnest friends and family who now reach out about Bitcoin, to those who you want to understand it at its most foundational philosophical and economic level, send them this.
Bitcoin was roughly $100 then.
Erik Voorhees - The Role of Bitcoin as Money - Bitcoin 2013 Conference https://t.co/DktHG3ZC8s via @YouTube