El33

Wrote about paradoxes, confidence and why we retreat to black and white thinking. A note on what has been useful to me in life and markets ❤️ @el33/the-dialectic-trader" target="_blank" rel="nofollow noopener">paragraph.com/@el33/the-dial…

@stoicsavage Not great, not great at all

@Yaugourt This….. isn’t great

HIP-4 update. This one is big. Hyperliquid just removed the need for external oracles on prediction markets. The validator set itself is now the oracle. The same 24 validators that sign blocks every 70ms, secure $3B+ in deposits, and vote bridge withdrawals now deploy and settle prediction markets natively. Automated newsfeed software running as part of regular chain operations. Deployment and resolution through onchain validator vote. No Chainlink. No Pyth. No UMA. No third party. Closed circuit. Polymarket uses UMA. Kalshi is centralized. Hyperliquid just made real-world event resolution a native chain function. Hyperliquid.

@NeetNort Agree. Just looking for a good hedge to be able to keep playing this long alts bias. I just can’t short high attention coins like hyperliquid:native $VVV and majors look decent

btc genuinely looks really good off the lows for once, just playing all of this as if we have bottomed and all the non-consensus alts are completely dead would imagine consensus remain best first-movers if we really start pushing btc to 80k+ but i think the r/r on raped coins higher shortly-after that a real move up will be a really fun perps trading day i think so hoping we get that soon

Light the beacons. Alt season. open.spotify.com/track/1o7Ed6pc…

@cptgrumpus @econoar 1) no: lighter-vs-hyperliquid.vercel.app/execution-cost

I haven’t checked in awhile so might be outdated on some of this: but think 1) when you account for slippage hype stills wins 2) Execution is on chain instead of sequencer, lighter relies on proofs which proving them is different trust assumption 3) hype evm lets contracts talk to hype l1 liquidity natively, don’t think lighter offers atomic contract execution Would be curious if im wrong on this tbh I haven’t gone through lighter 100% yet

Thoughts?

@frizzaud @econoar Ppl have calculated this a lot of times. Total execution cost including all factors you mention is cheapest on lighter. lighter-vs-hyperliquid.vercel.app/execution-cost

@econoar What’s the math when you include slippage/liquidity since that would be the “fee” on lighter

@zextu It’s not lol

The only bad thing about $Lit is every pump is followed by even bigger dump 😩 someone told me it's vc's shorting to unlock their future unlocked tokens

@Lighter_xyz @OrnnExchange Very very cool

New RWA Perp Listing! You can now trade $H100 with up to 10x leverage. The H100 Compute Price Index from @OrnnExchange tracks the real-time market price of H100 GPU compute, measured in USD per GPU-hour, using transacted rates across cloud providers and updating hourly.

@follis_ Gud chart

ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2

@demo618_ AI text followed by “nice try bag holder” Sad place X is becoming

While the CFTC is not bound by SEC rules, the two agencies frequently coordinate to ensure comprehensive market oversight and prevent regulatory gaps. The most likely outcome of this scenario is that the firm will not receive approval from the CFTC, because a "crypto version of a US stock" falls squarely under the statutory definition of an equity security, giving the Securities and Exchange Commission (SEC) primary or ultimate veto power Nice try bag holder

Luckily lighter is looking to get licensed by the CFTC, not the SEC. Everyone understands that, right? Surely $LIT isn’t being sold off because of the news right? Right?

@Pentosh1 Also worth noting:

The dip coming a bit sooner than expected. I nibbled a bit here at $55.5, but would ideally like the opportunity to add big in the low 50's for $HYPE. IF we get it. Which idk if we will or not Of course, price wont move up in a straight line but the fundamentals have never been better and price discovery likely continues over the next few weeks. It just depends on your time frame. Some people think about where hype might be in 3-5 years, and some people think about 3-5 days. I think about both. if price is down even 1%, i wonder if my idea is invalidated, how could i be so stupid. if its up, I know im a fucking genius. Today I have been both, stupid, and a genius. I also began a small position in $LIT. Down 20% on the day, would expect a decent recovery there. Not that these two are remotely the same thing.

@DeeZe Except for ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2

This is like 9/11 for my bags rn

@tomhschmidt Righter

打火机

@blknoiz06 @palis Lighter

@palis what drives eth redemption arc? megaeth?

I distinctly remember last bear market multiple viral tweets talking about “how do we get Bankless to sell their ETH”/“ETH will never pump again until Bankless sells” It took another whole cycle of underperformance but it finally happened. I never expected it could. God works in mysterious ways

Been diving into Lighter (ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 ). If Ethereum wants to keep perpetuals volume on-chain, this is the killer app it needs. Here is the thesis on why it works, current metrics, and how it co-exists with Hyperliquid and isn't just a "beta" play: The Metrics -Volume: ~$112M daily -Valuation: ~$345M market cap -Position: Top 5 DeFi trading volume globally The Architecture We need infrastructure that proves Ethereum can handle high-frequency trading. Lighter is an app-specific zk-rollup built for central limit order book (CLOB) trading. -Execution: Off-chain matching with millisecond latency. -Settlement: Trustless settlement on Ethereum via zk-SNARKs and blob data. -Custody: If the sequencer fails, users can reconstruct their accounts and force an exit directly on L1. Co-existing with Hyperliquid The derivatives market is large enough for multiple architectures. -Hyperliquid (Sovereign L1): Optimizes for raw speed and independent consensus. Requires trusting a standalone validator set. -Lighter (Ethereum L2): Optimizes for Ethereum alignment. Sacrifices sovereign control to inherit Ethereum's security budget. Hyperliquid proved the demand for fast, on-chain order books. Lighter takes that product-market fit and anchors it to Ethereum. Both models will capture significant volume as traders diversify their counterparty risk profiles.

@econoar Glighter and welcome Eric

@blknoiz06 Now add ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2

May.

Guys can’t believe I have to say this but: There are better shorts than hyperliquid:native 😭

@sam_battenally Lighter coded

I’m pretty confident this is the direction the exchange market will go. For both spot and perps