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Joined May 2020
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Co-Founder of @USDai_Official, @0xZergs, on why blockchain rails matter:
Assets that were historically locked up can become tradable, borrowable, composable, and accessible 24/7.
That's how blockchain unlocks liquidity in sectors that have traditionally been illiquid.
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Definity Labs retweeted
The #BitcoinOG who shorted $BTC and $ETH before the crash — making over $160M — is adding to his $BTC short again!
Current position: 3,440 $BTC($392.67M)
Liquidation price: $128,030
xitter.cf/lookonchain/status/197…
This #BitcoinOG's $BTC short has reached 3,000 $BTC($343.85M), with a liquidation price of $130,450.
Interestingly, someone bought a token called "RETARD" and sent to his wallet.
xitter.cf/lookonchain/status/197…
Trillions
The moment you've all been waiting for...
On Sept 4 (12PM EST) deposit caps will be increased from $110M to $160M.
The next cap increase will align with our @PlasmaFDN expansion for their mainnet launch.
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Incredible , glad to see onchain growth in all forms
PriveX is just getting warmed up 🔥
💥 Over $1M traded in 24h on @COTInetwork
📈 Already past $15M+ total volume and climbing fast
Trade now. Stack points. Claim rewards.
It’s happening → app.prvx.io
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Awesome roll out, best launch I have seen in for ecosystem in past several years.
🪂 Sonic Airdrop Update
We've updated the $S airdrop asset multipliers and whitelists, effective from the start of season 2.
Top earners are now $S and ecosystem tokens. Full details below.
🔗 docs.soniclabs.com/funding/s…
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Soon this will be the standard, currently seems the market seems slight premium for this service.
This quoted post is unavailable.
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Definity Labs retweeted
I'm DONE with HLP if this is what making "everyone whole" means
I had a lot stored in the vault, did not withdraw the last time with the ETH whale shenenigans, and took already a hit there staying in with 7 figs.
The second time around, when people are litterally out there trying to liquidate the whole vault, the prudent move is to not leave it up to chance, waiting to get fully liquidated, when I have zero optics on what the team/validators decide to do
Took a big fat loss to avoid getting totally rekt, then they just randomly mark the vault back up using an arbitrary oracle price at an arbitrary moment in time
I was a huge supporter, but like that's just a load of BS to make whole the people that were probably stuck or locked or not prudently watching, while the risk minimization choice was to withdraw (and then it's up to the team to pull the trigger whenever, but I have ZERO insight in those decision, so I can't make that choice myself)
I don't even care that HLP is not safe or that upside is not 'a given', but you just handed my funds to some other less prudent people (or zealots) still in HLP by marking it up randomly.
It would have been better to not make anyone whole, at least that way everyone is treated fairly, now you just randomly select some risky gamblers and hand them the funds of people protecting capital at a moment where the protocol is being exploited.
And don't come at me with the BS of: "oh but you enforced a death spiral by withdrawing bla bla"
that only counts when the team doesn't have a time machine to undo whatever they want at any given time.
For me 2 things can happen
- NO BAILOUT , fine for me, we know the risks of HLP
- Equal bailout for every user involved at the timestamp where you marked the oracle price for $Jellyjelly
now it's just a bailout that's not evenly distributed
Sad @chameleon_jeff @xulian_hl
Yesterday is a good reminder to stay humble, hungry, and focused on what matters: building a better financial system owned by the people. Hyperliquid is not perfect, but it will continue to iterate and grow through the collective efforts of builders, traders, and supporters.
Users with JELLY long positions at the time of settlement will be refunded by the Foundation as if their position settled at the closing price of 0.037555. This results in all JELLY traders being settled at a price advantageous to them, except flagged addresses.
To recap what happened:
A trader self-traded a 4M USDC JELLY position at 0.0095.
The price of JELLY then rose more than 4x, with HLP backstop liquidating the 4M position.
The short position led to a loss in HLP’s account value.
The OI cap formula is a dynamic function of global liquidity and OI on other venues including major CEXs. A 4M USDC position fell within those limits, but additional open interest was prevented from being opened beyond the automatically triggered cap.
However, the key issue was that once HLP took over the position, it shared collateral with the other component vaults in the strategy and therefore did not trigger ADL.
Risk management on Hyperliquid is being strengthened in various ways, including:
+ HLP: The Liquidator vault will have a tight cap representing a small percentage of total HLP account value, rebalanced less frequently, and more sophisticated logic around taking backstop liquidations. ADL will be triggered if the Liquidator loses above a certain threshold, instead of moving collateral automatically from the other component vaults. Note that ADL is not expected to trigger during organic market activity.
+ OI caps: Open interest caps will be refined to be dynamic relative to market cap.
+ Delistings: Validators will vote onchain to delist assets that fall beneath thresholds.
Thank you for your continued feedback, support, and commitment.
Hyperliquid