awk

it's been a ride

[awk @AwkTim]

@xkxkdididixiixi do it

[jeff.hl @chameleon_jeff]

Most tech giants in the 2000s built their infrastructure and product as one entangled unit. Amazon had the foresight to separate out AWS as an API layer, of which Amazon retail was the first of many users. Today, AWS generates more profit than all of Amazon's other business lines combined.

Hyperliquid is built with the same philosophy. Housing all of finance requires thoughtfully designed, open financial primitives. Each primitive should obey the Unix principle of "Do one thing and do it well." Talented builders then have the foundation to chain these together to create magical applications.

HyperCore borrowing is an example to highlight this philosophy in action.

Most other platforms implement portfolio margin by marking an account's collateral to market value with an LTV haircut, creating borrowed assets without an explicit lender. This system is simpler to implement, but misses a golden opportunity for composability.

Hyperliquid instead begins with a borrow/lend protocol on HyperCore. Every borrowed asset is sourced from a supplier, so risk is isolated within the borrow/lend primitive instead of platform-wide. HyperCore's portfolio margin system is implemented as an orchestration layer that composes borrow/lend, with other primitives such as perps, spot, and outcome trading.

This decomposition has several nice corollaries:
1. Today's announcement of manual borrowing is not a new feature, but simply an extension of the underlying primitive. Borrowers on day one have access to 400M and growing of supplied liquidity.
2. Portfolio margin users earn interest on their idle stablecoin collateral. This is not a new feature, but a natural byproduct of composing trading with lending.
3. System safety is easier to reason about when perp and borrow/lend margining are independent.

In the same way that math theorems almost prove themselves when the right abstractions are defined, composable designs just feel right.

[awk @AwkTim]

@CryptoPicsou 👀

[awk @AwkTim]

@rami_poker @HyperliquidX you should take a look at @liminalmoney

[OAK Research @OAK_Res]

Since the recent crypto market rally, yields on @liminalmoney have simply exploded.

Between the massive liquidation of shorts and traders positioning heavily on the long side, funding rates on @HyperliquidX have recently exceeded 15% on BTC, 30% on HYPE, and 80% on some memecoins.

xTokens are specifically designed to capture the yield generated by these funding rates across a wide range of assets listed on Hyperliquid. xHYPE is currently offering close to 20% APY.

limUSD, a synthetic dollar that aggregates Liminal’s different strategies, is now yielding 12.5% APY over the past 7 days, compared with around 8% before the market rebound.

We’ve just published a quick Alpha explaining how these strategies work and why the current market environment is benefiting them so much.

Link in the comments 👇

[awk @AwkTim]

@CryptoPicsou @liminalmoney interesting

[awk @AwkTim]

@0xJeezed big

[awk @AwkTim]

@CryptoPicsou @bluw95_eth @AYouz50

[Hyperliquid Policy Center @HyperliquidPC]

Hyperliquid.

[awk @AwkTim]

@_Cryptique si Dembele pouvait terminer derrière histoire qu’on la garde dans la légende…

[awk @AwkTim]

@n3zooko merci de confirmer ton qi avec cette réponse

[Hunter Biden @HunterBiden]

@gmoneyNFT Hyperliquid

[awk @AwkTim]

@BoubouSGC @quentinlsle

[The Wall Street Journal @WSJ]

Hyperliquid, a decentralized crypto platform, is open 24 hours a day, seven days a week. The exchange has emerged this year as a go-to spot for Wall Street’s weekend warriors. https://t.co/3VCVCnxToh

[Zach Pandl @LowBeta]

It is time $HYPE

[awk @AwkTim]

mon @ tg c’est toujours awktim, vous faites pas avoir par des brokies de Dubai svppp

[awk @AwkTim]

@CryptoPicsou @Emilameur2 :)

[awk @AwkTim]

Hyperliquid

[awk @AwkTim]

@HyperliquidX Hyperliquid