noisefloor.hl

Below the noise, above the hype.

[noisefloor.hl @stiastoAC]

hyperliquid:native

[Elon Musk @elonmusk]

Interesting

[noisefloor.hl @stiastoAC]

House for all finance

[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.

[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.

[noisefloor.hl @stiastoAC]

@krakenpro Hyperliquid

[Kraken Pro @krakenpro]

gm hyperliquid:native

[noisefloor.hl @stiastoAC]

@sershokunin

[noisefloor.hl @stiastoAC]

@sershokunin @crypto_condom @tradexyz Legend 🤣

[noisefloor.hl @stiastoAC]

@andyyy

[noisefloor.hl @stiastoAC]

When Hype is lagging the entire market

Hyperliquid

[noisefloor.hl @stiastoAC]

read

[CBB @Cbb0fe]

https://t.co/A7rqNQvoOg

[Dre.hl @AndreN_AC]

Fantastic read!

[CBB @Cbb0fe]

https://t.co/A7rqNQvoOg

[noisefloor.hl @stiastoAC]

@Cbb0fe Great read. Order filled, order partially filled.

[noisefloor.hl @stiastoAC]

@MavenHL @chameleon_jeff el jefeeee

[Hyperliquid Daily @HYPERDailyTK]

🚨 Hyperliquid Strategies Increases Equity Purchase Agreement from $1B to $2.5B

Hyperliquid’s native treasury company, Hyperliquid Strategies, has expanded its equity purchase agreement with Chardan Capital Markets from $1B to $2.5B.

That means the company now has access to a significantly larger potential capital pool to support its treasury strategy.

But there is an important condition:
After the initial $1B in stock sales, any additional shares sold below $12.02 will be subject to Nasdaq’s 19.99% exchange cap, unless shareholders approve otherwise.

With up to $2.5B in potential equity financing, the company could significantly expand its capacity to accumulate and support the Hyperliquid ecosystem.

The race to build the biggest crypto-native treasury balance sheets is far from over.

And Hyperliquid Strategies just made its ambitions much bigger.

[NMTD.HL @NMTD8]

Imagine the $HYPE buybacks if $BTC pumps to $200K

Imagine the $HYPE buybacks if $BTC dumps to $30K

$HYPE always wins.

Hyperliquid.

[Outcome @Outcomexyz]

BREAKING: OUTCOME LAUNCHES FIRST MARKETS ON @Hyperliquidx WITH $1,000,000 IN REWARDS.

[Hyperliquid @HyperliquidX]

1/ GM world! It's been a wild week.

Hyper Liquid is launching a futures paper trading competition on Nov 15. Trade 50x leverage on BTC, ETH, MATIC, and 15+ more. All trading will be done with mock USDC, but you can win real cash prizes from a $7,500 pool, so there’s no risk🏆

[Walmart Bagger @BaggerWalmart]

Stanley Druckenmiller, the PURR investor?