Owen

@hyperliquidbull @HyperliquidX Check dm/tg Most likely an issue with the endpoint you’re using

@bad_auth @HyperliquidX super cool! for some reason, hip3 markets are stuck on this loading screen for me

Ever wondered where your order actually sits in the @HyperliquidX queue? I built a live L4 orderbook visualizer this weekend so you can see: • Your exact queue position • Other MM quotes updating in real time • Individual order details bad-auth.github.io/l4book_visuali…

Still working on adding un-triggered trigger orders and spot asset support. repo: github.com/bad-auth/l4boo… Anything else I should add?

HL doesn’t expose an L4 endpoint, so you’ll need to run your own: github.com/hyperliquid-de… or use @DwellirOfficial (free trial available)

@tittyrespecter Hey 👋

i’d let rick fuck me for some owens

@svbmrgd @QubesOS How’s the UX recently? Ran it for a bit but got tired of poor performance and things breaking. Thinking to test it out again though

.@QubesOS is so great. I'm surprised this hasn't been mentioned or talked about in the context of crypto security. Everyone talks about airgapped devices, this is superior

@tittyrespecter @inversebrah Is that black tusk? What’s the route in the 4th photo? Incredible view!

four more shitty photos im proud of from 2025

@loraclexyz @grok what do I do with this info

This paper is simply wrong about its central topic: how Hyperliquid’s ADL works. Tarun is describing a different (much crazier) algorithm, which also might explain how he calculated that traders somehow paid $653m to cover a $23m deficit. 🧵

@0xTangle @IOHKMedia @IOHK_Charles

When does @IOHKMedia or @IOHK_Charles pay out the bug bounty to this guy?

@krinza Checks out

can I say something

@_tradernico @deedydas You’re so right, because as everyone always says the nasdaq would be nothing without Citadel, Jane Street, etc.. Wait, how many employees would that be then? 🤡

@deedydas Impressive margins, but 11 employees doesn't count the HFT infrastructure they're built on. Without their ultra-low latency provider relationships, this doesn't exist.

The most efficient business in the world makes ~$1.1B/yr net income with just 11 employees. Their founder, Jeff Yan, is a ~30yo ex-HRT International Physics Olympiad (IPhO) gold & silver from Harvard. It is a decentralized crypto derivatives exchange called Hyperliquid.

Yeah that's fair, if the spreads are that wide from data providers that makes more sense. I gotta dig more into the Notice docs. It still feels a bit aggressive to have funding rates that low though. I like the 50% 8h EMA baked into the oracle price and with a standard funding rate it would still allow natural price discovery just over a longer time period without as much turbulence. We'll see how it goes as the markets mature though, happy we get to play around with them either way.

there aren't "source of truth" prices for private cos in the secondary markets – spreads are regularly 10-30% wide, and data providers will quote different prices so the funding rate needs to be flexible enough to allow for some range of deviation, while still imposing some economic cost if the price gets too out of whack e.g. 1/500th of standard funding rates equates to 20-25% annualized funding if there's a 10% mark-to-oracle deviation

@ventuals Genuine question: What's the point in an oracle price if the funding is 1/500th of the standard funding rates? What are we trading here?

SPACEX hasn't even touched the current oracle price since launch and there's barely any incentive for traders to move it. Are we just trading meme-coins with the names of private companies?

@VitalikButerin transitioning into a balenciaga model might save ethereum

@hyperliquid_ca knows how to throw an event

"He's not broke, he's just temporarily illiquid while waiting for his partial refund from MegaETH"

I would argue the issue isn’t necessarily with the EVM but with solidity. The best code is the simplest code and in theory one should be able to write a simple protocol for the EVM that is easy to understand and bulletproof. The problem imo is that the solidity language is too abstract and leads to gas-golfing, inline assembly, and other foot-guns. With a proper concise language you can have more confidence in your code and still maintain a large degree of freedom in the applications you build. I think you need that creative freedom of a general purpose environment to be able to build the future of finance we all want. Would be curious though if you have any specific thoughts on what a purpose built VM would look like?

I've had these thoughts since over a year ago, but have only shared them privately. They trouble me again. I am actually so so bearish the current state of general web3 developer UX that I have come across. The one i am most familiar with is EVM chains, and I hate it there the most. EVM, and many other architectures, is simply too general purpose to be touted as the future of finance. If we want to code finance on this infrastructure, we need far far stricter organisation for developers. Design idioms, code idioms need to be adhered to on any protocol handling money. Otherwise every little difference from how it's been done before is a vector for attacks. I don't see it happening, honestly, and I don't even know if it is enough. I simply do not believe finance onchain needs the full power of a general purpose language. I admit I have limited exposure to DeFi, and codebases, and code ingenuity. But I strongly believe this, from what I know of finance onchain, and where I feel pmf lies. What users actually need/want. General purpose language has the weakness of there not necessarily being an optimized nor obviously idiomatic way to implement certain financial features. EVM is so general that the concept of just a token isn't necessarily so straightforward. Yes we have ERC's, but even they don't strictly enforce how certain aspects of a token should behave (that basically 99.9% of relevant tokens should follow). Developers have too much code freedom (including freedom to write bad code), and subsequently auditors, (or just anyone), have a hard time reading and checking code. So much money has been lost over dumb ABC errors that are obvious in hindsight. If the future of finance is onchain, then I hope it will lie in chains with more restricted smart contracts becoming mainstream, while more general chains take a backseat. If you want to do something completely wacky, you use an EVM chain or something, sure. But most serious protocols shouldn't need that degree of freedom in code. This is merely a hope, though. EVM is so prevalent that, I don't see this being possible for another 5, 10 years. This makes me pessimistic about DeFi generally. Honestly, back when the Hyperliquid team confirmed (mid-2024?) they would introduce contracts/defi into their L1, I was very hopeful. Very hopeful they would recognise the flaws of today's DeFi for builders, and provide an alternative. If they dare to build a perpetuals-first L1, then why not this too. Alas, EVM has too much adoption, and has far less risk and work to implement. So looking back, it is not surprising this was their choice, and I am not saying it is a wrong choice either. In the relative short-term (say next 5 years), EVM sure will help grow the L1 and its adoption, I don't doubt that. But looking further and beyond just capturing web3 adoption, if you really want to bring global finance onchain, I believe we need something other than EVM. Or we will be stuck with the shitty interface for both users and developers web3 is notorious for. Patches on top like abstraction, etc, may solve this too, but idk. I hope the HL team will look to address this and adopt solutions. I am just a relatively novice developer yapping, maybe a full-time solidity expert will disagree with me, etc. Maybe Jeff will disagree with me. But hey, just want to share my 2 cents.