Stevie Satoshi

𝗖𝗼𝗹𝗹𝗮𝗯 ✦ 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 ✦ 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝘇𝗲

[jeff.hl @chameleon_jeff]

1/ Huge respect for Dragonfly continuing to invest in the bear market.

But I'm morally obliged to call out sketchy projects gaining momentum.

As a community we must preempt large scale implosions like #FTX or #LUNA that set the industry back years

Bitget may be the next FTX 🧵

[Stevie Satoshi @stevxbt]

@HyperliquidX Hyperliquid

[Hyperliquid @HyperliquidX]

Open interest reached an all-time high of $18B on Hyperliquid

[Variational @variational_io]

https://t.co/tAhCLegred

[Cash Cat @cashcat_token]

We're going somewhere new @vladtenev

[Ethereum Institutional @ethereuminsti]

Deutsche Bank is adding ethereum:native to its new institutional custody service, alongside Bitcoin and selected stablecoins.

Launching in Germany later this year, pending regulatory approvals.

[Stevie Satoshi @stevxbt]

Happy new hyperliquid:native ATH

100

[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.

[Hyperliquid @HyperliquidX]

Manual borrows are live on Hyperliquid
Portfolio margin and manual borrows use the same underlying HyperCore infrastructure, with $269M in assets borrowed today.

Users can supply HYPE and BTC as collateral to borrow quote assets (USDC and USDT). Borrowed quote assets pay interest, and supplied quote assets earn interest, with rates set by utilization.

[Jumper @jumperapp]

Jumper Perps 🔜
🟪🟪🟪🟪🟪🟪⬜️⬜️⬜️⬜️

Jumper’s super-app era begins now.
But are you ready for what comes next?

Make the Jump ↓
https://t.co/ynAy5sckjZ

[Uniswap @Uniswap]

80% of all Robinhood Stock Token volume is traded on Uniswap

That translates to $10B (and counting)

[Stevie Satoshi @stevxbt]

cash-cat:native

[Cash Cat @cashcat_token]

We out here @RobinhoodApp @vladtenev

[Vikingo.hl @VikingoDigital_]

Hyperliquid has surpassed OKX in open interest for the first time ever and also just hit a new ATH with a 12.3% share of total open interest.

Next targets: Bitget and Binance.

[Premier Sports @PremSportsTV]

Not many players have arrived at Parkhead and made as instant an impression as Camilo Durán 🇨🇴

The Colombian is already a favourite among the Celtic faithful, but a big display against Rangers on Sunday could elevate his standing to another level 🍀

#PremierSportsCup

[Stevie Satoshi @stevxbt]

@MBxxvv Hyperliquid 🔥

[Stevie Satoshi @stevxbt]

@variational_io viva la var

https://t.co/sLgbtjoGrF

[Stevie Satoshi @stevxbt]

welcome, pendle!

[Pendle @pendle_fi]

Pendle is live on Robinhood Chain by @RobinhoodCrypto

This means Robinhood Chain users can now lock in fixed yield, take leveraged exposure to the yield of their favourite coins, or earn fees & rewards by providing liquidity.

We're excited to be building on one of the most exciting new chains in DeFi and help its yield ecosystem grow 🤝

[Lighter @Lighter_xyz]

Lighter is becoming more open and easier to build on!

Developers can now use our shared trading core to create their own interfaces, apps, and trading experiences without starting from scratch, for free.

https://t.co/VNatLLGlPH

[Stevie Satoshi @stevxbt]

@arcus_xyz gArcus!!

[Pons @ponsdotfamily]

Another day, another milestone.

Pons just hit $11,000,000,000 volume traded, and it's all happening on Robinhood.

[Stevie Satoshi @stevxbt]

@CelticFC Job done not the greatest watch