blockhiro

In my latest report, I cover: “Programmatic communalization” How HIP-1/2, Builder Codes, HyperEVM, and now HIP-3 are transforming Hyperliquid from a curated venue to an open financial layer where market creation, distribution, and liquidity are handed to the community. HIP-3 mechanics: Staking & slashing, Dutch auctions for additional listings, fees and value capture, oracle definition, etc. Ecosystem alpha: Collective HIP-3 deployments; professional and retail market making strategies; aggregators and L2 trading applications; proprietary indices; vertically integrated Builder Code interfaces; and more. Hard problems worth solving: Managing liquidity fragmentation and thin books at launch; containing volatility and ADL risks; getting oracle design right; and how to handle high stress events.

Any good analysis on $TAO tokenomics out there?

UX was everything for a decade, now utility is everything.

pao de queijo is super underated

insane how fast this happened excerpt from x.com/Lemniscap/stat…

man $HYPE $14 away from overtaking $SOL fdv everyday trading more like a chain than an app hyperliquid is a blockchain. they've been saying it all along.

Lightning is just getting started ⚡ x.com/i/status/19045…

The S&P 500 is coming onchain via Hyperliquid. TLDR: S&P Dow Jones licensed the S&P 500 for a 24/7 perpetual market on Hyperliquid, giving non-US users leveraged exposure to the index using official data. It’s the first officially licensed perpetual tied to a major benchmark, extending a $1T+ daily trading ecosystem into crypto.

en dash > em dash

@elonmusk Equivalence

Matter, Energy & Intelligence

@blockhiro What is cardano building these days?

just noticed $HYPE is officially a top-10 crypto (and cardano is out) top-5 next

one of the real risks to BTC is Strategy's concentration + STRC "The risks are real – Strategy’s annual STRC dividend obligations now run ~$442 million. If Bitcoin stagnates while issuance continues at escalating yields the spread compresses. The 7th consecutive dividend hike signals ongoing incentive is required." is also one of the real structural BTC demand engines "If income capital continues rotating into STRC at this pace, Bitcoin acquires a “durable bid” (if trend continues and is sustainable that is) that seems to compound independently of the crypto cycle funded by the deepest capital pool in finance." members.delphidigital.io/feed/is-strc-b…

@Polymarket middle finger instead of thumbs down @nikitabier

BREAKING: 𝕏 rolling out dislike button over the next 30 days.

what the hell is White Bitcoin?

NEAR Q4 2025: The Agentic Commerce Stack Goes Live 1M TPS benchmark. $7B+ in cross-chain Intents volume. Confidential AI inference live in production. Inflation halved. This is the most technically complete quarter NEAR has shipped. Here's what actually matters 👇

Solana is the becoming the stablecoin market leader. Solana now leads all chains in adjusted stablecoin volume, according to @AlliumLabs — filtering out wash activity and CEX internal flows. February market share: Solana — 36% Ethereum — 30% Tron — 15% Base — 11%

@icobeast Lol the vanity fair piece made me bearish again, then this immediately after. Can't get a break

Quite literally the biggest development in crypto regulation in… years, but many of you won’t see it today bc it dropped on a random Tuesday afternoon at the same time as a Vanity Fair article Everyone that cares about the industry should take some time to read today’s release from the regulators

THEY DID IT. The SEC and CFTC just dropped a landmark document that officially classifies crypto assets. They're actually telling us which crypto assets are securities and which ones aren't - by name! THIS IS SOMETHING GENSLER REFUSED TO DO (he focused on prosecuting crypto out of existence) This rule doc gives crypto many of the benefits of the clarity bill - it lifts us out of the gray market - it gives every asset a path. It's almost like the Clarity act just passed by way of regulator. (of course, the actual clarity act will harden all this into legislation and make it irreversible in the event we get another Gensler, we still want it) This rule says there's 5 categories for crypto assets: 1) Digital Commodities - assets tied to a functional, decentralized crypto system (e.g., BTC, ETH, SOL, XRP, ADA, DOGE). Not securities. (yes, they name them on page 14) 2) Digital Collectibles - NFTs, meme coins, artwork tokens, in-game items. Not securities (fractionalized collectibles may be an exception). 3) Digital Tools - membership tokens, credentials, domain names (e.g., ENS). Not securities. 4) Stablecoins - payment stablecoins under the GENIUS Act are not securities. Other stablecoins, it depends. 5) Digital Securities - tokenized versions of traditional securities. Like tokenized stocks. Always securities. Amazing! This makes so much sense I can't believe it's coming from a regulator. No more enforcement threats to Ethereum developers and crypto exchanges. How about the Howey test? More common sense! If an issuer makes specific promises of managerial efforts from which buyers expect profits, the offering is a security until those promises are fulfilled. Then it's a commodity. The asset itself was never the security, the deal around it was. (E.g. XRP was a security pre launch, became a commodity after). How about stuff like staking and mining? Mining? Not a securities transaction. Staking? Also not a securities transaction, that includes custodial and liquid staking even with LSTs! How about wrapping BTC? Not a securities transaction. Airdrops? NOT SECURITIES. NO MORE GEO BANS PROTECTING AMERICANS from free airdrops. Remember this is a joint doc from the SEC and CFTC, They're actually cooperating on this, no internal strife, this is binding to both. SEC regulates $80-100 trillion assets CFTC regulates $5-10 trillion assets Both of the world's largest capital markets are showing us that crypto assets are here to stay and they're welcome alongside traditional assets. Every country will follow. This is the biggest move toward legitimacy I've seen in all my time in crypto. Maybe bigger than the genius act since is covers all crypto assets. Well done @MichaelSelig and @SECPaulSAtkins. And especially well done to the indefatigable @HesterPeirce. Her fingerprints are all over this, couldn't have happened without her eight years of principles-based curiosity.