Elsebreak

Max extract, don’t max cope.

Stop scrolling. This might be one of the most important thing happening on Hyperliquid right now and almost nobody is talking about it. What you're looking at is the first independent client achieving block hash parity with Hyperliquid validators. For non-technical people: Hyperliquid hasn't open-sourced its node client. The code that runs the network is a compiled binary, a black box. @androolloyd took that black box, 87MB of machine code with no documentation, and reverse-engineered it using AI and Ghidra. He decoded every formula, every structure, every protocol. Then he built his own client from scratch that produces the exact same results as the official validators. 3/3 match. For technical people: full verification chain cracked. keccak256 on raw msgpack for block response hashes. blake3 keyed for consensus transactions. LtHash16 with SSE2 paddw across 14 accumulators (11 L1 + 3 EVM) finalized with SHA-256 for state hashing. All reproduced independently from a stripped ELF binary with zero source code. What this means: anyone can now verify the Hyperliquid chain independently without trusting the official binary. This is the foundation for a truly decentralized validator set where operators don't depend on one codebase. Independent implementations make the network stronger, more resilient, and harder to compromise. The team didn't open-source the client. So someone reverse-engineered it and built one anyway. That's the kind of ecosystem Hyperliquid has. I'll be covering this work in depth over the coming days to make sure everyone understands the magnitude of what's being built here. Legendary work happening in real time. Hyperliquid.

@0xaporia @LSDinmycoffee people want something to measure, so that's why they do TA and so on.

But that’s the point, innit? You enter a trade because you believe a trend is in motion. You don’t know how far it will go. Nobody does. A target forces you to pretend you know. A stop admits you don’t, and instead asks: is the trend still alive? If yes, stay. If no, get out. That’s it.

Looking back, I think one of the bigger flaws I saw in crypto trading is something most people never quite name. People come to crypto because of trend. That's the entire appeal. They see a coin go from $1 to $20 and they want to be on that ride. Whether they've ever used the phrase "trend" or not, that's what drew them in: the possibility of catching a massive, life-changing move. But then they sit down to actually trade it, and what do they do? They set targets. They put a ceiling on the exact thing they came here for. Think about it. You showed up to this market because it produces enormous trends. And then your first instinct is to cap your upside at some arbitrary level you decided on before the move even started. You've kept all the chaos, but you've removed the payoff that justifies enduring all of it. The goal is staying in the trade as long as the trend is intact. Targets are fundamentally flawed when applied to a strategy whose edge depends on open-ended winners. With targets, you've chosen a game defined by asymmetry and then eliminated the asymmetry.

@0x_Atreyu @lordjorx @DeriveXYZ That’s helpful, makes sense RFQ is doing most of the work right now. The orderbooks still feel early from what I’ve seen, so interesting if RFQ top-of-book is already competitive with DBT. Curious what the split looks like between RFQ and on-book flow.

@cryptoerknee @lordjorx @DeriveXYZ This is going to be solved asap, and on the RFQ we can nudge MMs to get big size through on very competitive prices - top of book often competitive with DBT. Let us know if we can help

Derive could be the next Hyperliquid but for options. @DeriveXYZ has processed $22 billion in notional options volume over 5 years with zero venture capital in the cap table. The revenue model is transparent and runs through governance votes: > 25% of net fees go to DRV buybacks > 75% to the insurance fund > All fee parameters controlled by tokenholder votes The recent growth is aggressive. Volume was running $100-200 million per week through February. March hit different. Combined volume across perps, spot, and options is pushing $800 million per week. The token ran 3x from local bottom but corrected over 30% since. Market cap sits just above $100 million, small relative to what the protocol could actually move. Market share against @DeribitOfficial went from 0.20% in November 2025 to roughly 3% so far in March 2026. Amazing market capture. The infrastructure is asset-agnostic. The same system pricing ETH options today can bring any options market onchain. Global options markets carry $150 trillion in notional outstanding so the growth potential is amazing. One token captures the upside when the structure is built without competing interests.

@Crypto_McKenna thank you

I think many people who are conservative in the US now regret voting for Trump. I am in agreement and his only saving light is amusing tweets. I have zero support for Donald Trump. It's completely unacceptable to throw your economic policy out the window for foreign policy after he declared himself numerous times as a anti war president. Not only domestically but this has disrupted the entire global economy. His legacy as far as I am concerned is ruined. I will be first to admit where I am wrong and change my stance accordingly.

@DannyDailyNote @KobeissiLetter 🤣

@KobeissiLetter Dude went on national TV to read his tweets out loud n somehow made things worse Talent

Tonight's situation is incredibly puzzling. In President Trump's address to the nation just now, he effectively reread many of his recent social media posts out loud. Between threatening Iran's power plants, saying the Iran War would last 2-3 more weeks, and calling out NATO, there was nothing new. Yet, the market is now trading like the Iran War is ramping up for another month-long escalation. Why? Because he didn't explicitly de-escalate. Ironically, President Trump's address to the nation just now has imposed more pressure on the US through the market's reaction. The market, which was finally beginning to show some signs of calming, is now highly agitated, with US oil prices back to $104/barrel, stocks down sharply, and the bond market melting down again. Ironically, President Trump is now back to solving the problem he fixed earlier this week: How will he contain the market?

JUST IN: Three thousand ships are anchored in and around the Strait of Hormuz. Twenty thousand seafarers are aboard them. Fresh food ran out two weeks ago. Perishables are rotting in refrigerated holds whose generators are burning through the last reserves of diesel. Water is rationed. Mental health is deteriorating. No mass evacuation plan exists. No humanitarian corridor has been negotiated. No international body has the authority or the means to move twenty thousand people off three thousand ships through a five-nautical-mile channel controlled by the IRGC. These are the people who move the global economy. Every barrel of oil that reaches a refinery was carried by a seafarer. Every container of goods that stocks a shelf was loaded by one. Every tonne of fertiliser that feeds a field was shipped by one. The war has trapped the invisible workforce that makes globalisation function, and the world has not noticed because the world never notices seafarers until the shelves are empty. The ships themselves are worth tens of billions. The cargo aboard them is worth more. Crude oil, liquefied natural gas, urea, ammonia, consumer electronics, automotive parts, and 200 cryogenic containers of helium that are boiling off at a rate that no engineer can reverse. The stranded fleet is a floating warehouse of every molecule the global economy needs, and the molecules are degrading while the crews ration drinking water. The cargo is valued higher than the people guarding it, and neither can move. The IRGC’s Larak corridor clearance system does not only control entry. It controls exit. A vessel that wants to leave the anchorage zone must obtain the same clearance code, submit the same documentation, and receive the same pilot escort as a vessel seeking to transit. The customs border works in both directions. These crews are not stranded by geography alone. They are stranded by bureaucracy, the same bureaucracy Iran wrapped in the language of sovereign maritime governance when the parliamentary committee approved the Hormuz Management Plan. The toll booth charges for passage through. It also charges for passage out. No centralised evacuation exists because evacuation at this scale would require IRGC approval, and requesting approval would legitimise the system the United States refuses to recognise. So the crews wait. The International Transport Workers Federation issues statements. P&I clubs cover individual medical evacuations by helicopter. Flag states, predominantly Panama, Liberia, and the Marshall Islands, register ships but do not operate navies. The system that made global shipping cheap by divorcing flag from nationality has left twenty thousand people without a government willing to retrieve them. The seafarers are from the Philippines, India, Bangladesh, Myanmar, Indonesia. Countries whose workers crew the world’s merchant fleet because the monthly pay of $1,500 to $3,000 exceeds anything available at home. They signed contracts to deliver cargo across oceans. They did not sign contracts to become indefinite residents of a war zone, rationing water on a ship whose cargo of ammonia could feed a million people if it could reach a port that is 40 nautical miles and one IRGC clearance code away. The helium boils off. The fertiliser waits. The crude oil sits. And the people who carry it all drink less water today than yesterday. The supply chain has a human body at the very bottom of it. The body is thirsty. open.substack.com/pub/shanakaans…

@sershokunin @DougieDeLuca 🔥

@DougieDeLuca will list food soon

surprised no one's capitalized on the food trade yet on hl

this is the era of ideation, if you're not ai-maxing then you're just doom scrolling. Try out your ideas, see where they go, you may learn they don't work and that's fine, better to know then be stuck wondering.

@ripdotxyz Hyperliquid

Only the true Hyperliquid familia can reply to this message

@katexbt Test

If you can reply to this, you're gonna make it. If you can't reply, leave a like so I know who you are. Testing something.

12/ If OWS works, you won’t notice it. Everything will just… work. And that’s usually where the biggest money is made.

11/ That’s why this matters for infra plays like $ZRO. If the top layer gets simpler, the pipes underneath get more valuable.

1/ Ever try plugging in a USB… flip it… wrong flip it again… still wrong flip it again… now it works Crypto UX today is a lot like that. OWS (Open Wallet Standard) is trying to fix that 👇