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@figu_hl

MY DEFI DIARY HYPERLIQUID EXTENDED

Cancun Katılım Haziran 2025
990 Takip Edilen568 Takipçiler
rf.extended
rf.extended@rf_extended·
From our conversations with TradFi brokers, it’s clear that moving to 24/7 is quickly becoming table stakes. To get there, most are looking at two routes: launching perps (either in-house or via partners) or extending CFDs to 24/7 and hedging the exposure externally. When discussing the second approach, hedging CFD exposure with perps (instead of futures, leveraged spot, etc.), two structural differences stand out: 1. Deterministic liquidation vs operational margining. In TradFi, margining is rule-based but involves operational processes and potential grace periods, while in perps liquidation is fully deterministic and continuous, ensuring individual account and system-wide solvency without credit assumptions. 2. Managing funding vs rollover / borrow costs. Perp funding is realized more frequently (hourly / 8-hour), and can be significantly more volatile as it reacts in real time to positioning imbalances, compared to the smoother, benchmark-driven cost of carry in futures and financing markets. None of those are blockers to a wider institutional adoption of perps, but rather observations on how traditional players are already adapting their ways of working to benefit from perps and DeFi.
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figu
figu@figu_hl·
@HypurrFi 10% for lending, not worth the risk less
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cyber
cyber@cyberxtremog·
Extended rejected dozens of milions of VC money at +300M FDV. Experienced ex-Revolut team. All value accrues to the token. No paid marketing or deals. Aligned by Design.
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figu
figu@figu_hl·
@Yaugourt The moment war finish hype will hit ath
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Yaugourt.hl
Yaugourt.hl@Yaugourt·
Everything just lined up for Hyperliquid. Let me spell it out because I don't think people fully see what happen. April 13, 2026: The SEC Division of Trading and Markets publishes a staff statement explicitly carving out a path for crypto user interfaces that prepare transactions in crypto asset securities to operate without registering as broker-dealers. The conditions: self-custodial wallets, transparent routing, disclosed fees, no discretion over execution, no payment for order flow. Hyperliquid's architecture already matches almost every single one of these criteria by design. Same day: Jeff quietly updates his bio. From "building a pretty good dex" then "building a pretty good L1" and finally "building a pretty good house of all finance" This week also priority fees go LIVE on mainnet in alpha mode. Not testnet. Real HYPE burning, real auctions, real revenue capture. The mechanism that was science fiction two weeks ago is operational today. Now connect the dots. HIP-3 lets anyone deploy perps on ANY asset. Oil, gold, Apple, Tesla, Nasdaq-100, wheat, the VIX. Currently on Hyperliquid you can trade these assets 24/7. On traditional exchanges you can't. Wall Street closes at 4pm. Hyperliquid never does. HIP-4 adds prediction markets on real world events. CDS-like instruments. Parametric insurance. Binary options on economic data. All settling natively on the same L1 as the perps. All cross-margining against each other in the same account. Priority fees create a native pricing mechanism for execution order. No private order flow. No dark pools. No colocation advantage hidden behind closed APIs. Anyone willing to pay HYPE can access the front of the line. Every bid burns the native token into protocol value. And now the SEC has essentially blessed the model as long as the interface stays user-sovereign, transparent, and non-discretionary. What does that unlock? Institutional desks in the US that were waiting for regulatory clarity can now start building on Hyperliquid without fear of the broker-dealer registration trap. Prop shops that want to trade oil and Tesla on weekends have a venue that matches their needs. Market makers who used to need ISDAs and prime broker relationships can now provide liquidity via simple API calls. Hedge funds that wanted 24/7 exposure to equities without the paperwork finally have a legitimate path. The traditional finance infrastructure is closed 40% of the time. Hyperliquid is open 100% of the time. And now institutional US participants have a legal framework to engage with it. What's missing? Three things, and all three are solvable. First, full transparency on order routing so the last gray zone disappears. The SEC statement is clear that routing logic must be based on pre-disclosed and objective parameters. Hyperliquid's matching engine is onchain and auditable by design, but the routing layer from frontends needs to be documented and verified. Androolloyd's work on independent client verification is directly relevant here. Second, a clean Clarity Act or equivalent federal legislation that codifies what the SEC staff statement already suggests informally. Staff statements are not law. A full legal framework is. Once that lands, every institutional compliance team in the US gets a green light to engage. Third, dedicated stablecoin infrastructure for TradFi. USDH is a start. USDC on Hyperliquid via Native Markets is another. But institutional desks need specific rails for settlement, reporting, and treasury operations. The pieces are being built, and the pace is accelerating. The economics for HYPE holders are straightforward. Every new institutional dollar that enters Hyperliquid generates fees. Fees flow back through staking, priority auctions, and structural demand for the native token. The more sophisticated the users, the more they pay for priority. The more they pay for priority, the more HYPE burns. The more HYPE burns, the tighter the supply. The tighter the supply, the higher the floor for anyone holding. This isn't about a new DEX. This isn't about a new L1. This is about an onchain venue that can host the entire apparatus of global finance on infrastructure that runs 24/7, settles in seconds, is transparent by design, and is now being implicitly legitimized by US regulators. Jeff wrote it plainly. A house for all finance. Not for crypto traders. Not for degens. For all finance. TradFi ran on closed systems, delayed settlement, fragmented liquidity, and restricted hours for 100 years. Hyperliquid is rebuilding the same functions with open access, instant settlement, unified liquidity, and continuous operation. The institutional door just opened. The priority fee machine just turned on. The product suite is live. The regulatory path is emerging. The timing isn't a coincidence, it's a convergence. Just use Hyperliquid.
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figu
figu@figu_hl·
@Hypurr The best and most valuable nft
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Hypurr
Hypurr@Hypurr·
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figu
figu@figu_hl·
@ripdotxyz People dont know how expensive they will be!
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rip.xyz
rip.xyz@ripdotxyz·
Sundays are for sweeping +3 Hypurrs to the treasury 41 Hypurrs in the $rHYPURR vault
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figu
figu@figu_hl·
So he fucked everyone but he doesn’t like to be fucked
H.E. Justin Sun 👨‍🚀 🌞@justinsuntron

I have always been an ardent supporter of President Trump and his crypto friendly policy. As an early supporter who invested heavily in World Liberty Financial, I did so because I believed in the vision that was presented to the public: a decentralized finance platform that would promote financial freedom, remove intermediaries, and bring the benefits of DeFi to mainstream Americans. What was never disclosed — to me or to any investor — is that World Liberty embedded a backdoor blacklisting function in the smart contract used to deploy WLFI tokens. This function gives the Company unilateral power to freeze, restrict, and effectively confiscate the property rights of any token holder, without notice, without cause, and without recourse. This is the opposite of decentralization. This is a trap door marketed as an open door. I denounce the ongoing token scandals by the bad actors at WLFI. I am the first and single largest victim, as a result of their wrongful blacklisting of my WLFI token wallet back in 2025, that violates basic investor rights and blockchain principles of fairness. Every action taken by the WLFI team to extract fees from users, to secretly implant backdoor controls over user assets, to freeze investor funds without disclosure or due process, and to treat the crypto community as a personal ATM — all of these actions are illegitimate and were never authorized by any fair, transparent, or good-faith community governance process. The governance votes cited to justify these actions were not conducted through a fair or transparent process. Key information was withheld from voters, meaningful participation was restricted, and the outcomes were predetermined. These votes do not represent the will of the community — they represent the will of those who designed them. These actions have nothing to do with me. They have nothing to do with the investors who believed the promises this project made. We oppose every one of these actions in the strongest possible terms. The WLFI team’s actions erode trust in the project. Unlock the tokens and uphold transparency for the community. Let’s build with integrity, not misconduct.

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ryandcrypto
ryandcrypto@ryandcrypto·
if you're bullish on $HYPE or Hyperliquid in general i want to follow you just comment below and ill check out your profile 🤝 hyperliquid
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figu
figu@figu_hl·
The level of impunity is frightening
Peter Girnus 🦅@gothburz

I am a Web3 Ambassador at World Liberty Financial. There are 12 of us on the team page. 4 are named Trump. 3 are named Witkoff. The page calls us "the passionate minds shaping the future of finance." 600,000 wallets bought our memecoin. They lost $3.87 billion. The family collected $350 million in trading fees. It launched 3 days before the inauguration. 80% of the supply went to CIC Digital LLC and Fight Fight Fight LLC. I did not choose the names. I designed the allocation, the vesting, the timing, and the distance between the product and the President. The distance is my best work. I am the reason these events are unrelated. World Liberty Financial sends 75 cents of every dollar to DT Marks DEFI LLC. That is the family entity. Zero capital contributed. Zero liability assumed. I wrote this into the Gold Paper. Page 14. The lawyers bound it in white leather. The binding cost more than the due diligence. Justin Sun invested $75 million. He was facing SEC fraud charges. The SEC dropped the case. He is now our advisor. These events are unrelated. Changpeng Zhao pleaded guilty to federal money laundering violations. He received a presidential pardon. The SEC dropped its lawsuit against his exchange the same week we listed our stablecoin. Then the exchange settled a $2 billion deal entirely in that stablecoin. These events are unrelated. Arthur Hayes, Benjamin Delo, and Samuel Reed of BitMEX pleaded guilty to Bank Secrecy Act violations. All 3 received presidential pardons. Then the company itself was pardoned. $100 million in fines. Gone. An American first. These events are unrelated. Sheikh Tahnoun of Abu Dhabi paid $500 million for a 49% stake that was never publicly disclosed. Then the administration approved semiconductor exports to his companies over national security objections. These events are unrelated. Everything is unrelated. I track the unrelatedness on a dashboard I built. The dashboard has 7 columns now. I am proud of the dashboard. On May 22nd, 220 people paid a combined $148 million to eat dinner with the America First president. Over half were foreign nationals. Justin Sun paid $18.5 million for the first seat. He visited the Executive Office Building the day before. I designed the seating chart. I put it on the Investor Confidence page. That page is doing well. The team page lists 3 Witkoffs. All 3 are Co-Founders. Steven Witkoff is the President's Middle East envoy. He testified as a character witness at the President's fraud trial. His son Zach runs the crypto operation. His son Alex is also a Co-Founder. I have not been told what Alex co-founded. The father runs the diplomacy. The sons run the platform. The family runs both. That is organizational efficiency. Barron is 19. His title is Web3 Ambassador. The same as mine. Donald Jr. called the conflicts of interest "complete nonsense." Eric launched a Bitcoin mining company called American Bitcoin. America First. The mining partner is Hut 8. Hut 8 was founded in Canada. America First means the name. On March 6th, the President signed Executive Order 14233 creating a Strategic Bitcoin Reserve. The order directs the government to hold Bitcoin. The President's family holds billions in Bitcoin. The executive order appreciates the President's assets by presidential decree. I did not write the executive order. I made sure it looked unrelated to the portfolio. Trump Media put $2 billion of Bitcoin on its balance sheet. The ticker symbol is DJT. His initials. The press secretary said it is absurd to insinuate the President profits off the presidency. Forbes calculated his crypto holdings exceed the combined value of Mar-a-Lago and Trump Tower. I would call that absurd too. That is my job. 600,000 wallets bought in. 1 of them asked why she could not withdraw her funds. I told her the protocol was experiencing dynamic market conditions. She asked what that meant. I sent her the Gold Paper. She said she had read the Gold Paper. I muted her channel. Dynamic means the conditions change. The condition that changed was her access. A congressman called us the world's most corrupt crypto startup operation. We put it on a coffee mug. Ironic merchandise. $45. The revenue split on the mug is also 75/25. My own tokens vest on a different schedule. I wrote that schedule. That is not in the Gold Paper. The memecoin funds the family. The family funds the platform. The platform funds the stablecoin. The stablecoin funds the deals. The deals require the pardons. The pardons free the partners. The partners fund the platform. The President signs the executive orders. The executive orders inflate the assets. The assets fund the family. I am the reason these events are unrelated.

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figu
figu@figu_hl·
Another metric quietly hitting new all-time highs every single day: the stablecoins sitting on @HyperliquidX Capital is flowing in. People are moving their money there!
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androolloyd.hl
androolloyd.hl@androolloyd·
We have achieved block hash parity, lots to do still but the end zone fees in sight.
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figu
figu@figu_hl·
@0xasrequired Same thing happened to me but in the right direction
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rf.extended
rf.extended@rf_extended·
Extended end of Q1 update [TLDR] - Multi-asset collateral launching soon - TradFi expansion accelerating (>25 markets live, partnership coming, focused on distribution via TradFi brokers) - Becoming more institutional-ready (pricing methodology, trading workflows) - Building decentralised, high-throughput sequencing [Product] The team has completed development of multi-asset collateral margin. It is now in the testing phase on testnet and undergoing smart contract audits. We expect to launch at the end of April or early May, with support for wBTC, ETH, USDT and potentially EURC as collateral, subject to underlying liquidity. In Q1, we also doubled down on our TradFi offering, expanding to 25+ equities, indices, FX markets and commodities with competitive liquidity. We are currently finalising an agreement with a major TradFi broker, which will both broaden our offering and help bring in flow. The other priority for the team is making Extended more institutional-friendly across both product and trading: - Improving the definition and transparency of fair reference pricing for TradFi markets, with a consistent and clear methodology: spot-based references for equities and FX, and futures-derived pricing for commodities and energy - Introducing and better communicating institutional-grade features such as MPC wallet workflows, API key-only trading, and our sub-account architecture In addition: - With multi-asset collateral, we have built native spot markets (required to process liquidations of non-USDC balances). These will be released shortly after the cross-asset rollout. - The team is progressing towards decentralising sequencing via an application-specific chain built on a high-throughput implementation of full BFT consensus (targeting ~50ms block times and hundreds of thousands of transactions per second). This architecture introduces an app-chain layered on top of our existing zk-enabled stack, enabling decentralised matching and related services while preserving existing security guarantees. More details and timelines will be shared soon. Importantly, this design enables Extended tokenomics and revenue accrual to the token. [Growth and community] Our strategy remains consistent: - Stay open to feedback - Continuously iterate on the product - Encourage organic usage - Do not do paid marketing or paid deals - Focus on long-term sustainability and value creation Over the past quarter, we have gained stronger conviction that demand for perpetuals is increasing among traditional players, driven by 24/7 trading, higher leverage and deeper liquidity. As a result, we are doubling down on business development with TradFi brokers (fintechs and trading platforms). This is a long-term effort, but we believe it will be a key driver of sustainable growth. We also have several important integrations with trading terminals coming up, both retail and institutional. [Team] Over the past quarter, we hired 3 new team members and are now a team of 14. As we move towards decentralising sequencing, we expect to grow to 18-20 people in the coming months. [Market and exchange metrics] Nothing unexpected: January saw all-time highs across key metrics, followed by a broader market slowdown in February and March. All Extended metrics are public: dune.com/extended/exten… From our perspective, short-term market conditions are less important than long-term trends. What matters is that the market we are building in continues to grow and there is room for new players. We strongly believe this is the case: - price discovery for TradFi assets is likely to increasingly shift towards perpetuals. More on this here: x.com/rf_extended/st… - DeFi continues to gain share versus CeFi - Regulatory clarity is improving across both the US and Europe
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peanut.hl
peanut.hl@poorlydrNFT·
Some of the biggest scammers and grifters of the @HyperliquidX ecosystem 👇 @Ramen_HL and his vaporware project $RUB that deceived dozens of hyperliquid community members both big and small. Countless delays and miscommunication, didn't pay his staff/team on time, endless stream of false promises. @rardedd Similar to the above with $NEKO but Imo more criminal because he had the audacity to raise 7 figs for a project that took them a year to launch but has absolutely zero pmf. Refuses to refund investors, strung them along for a year with promises. Trying to raise more money for another scam after the blatant neko rug. We should make sure people like these don't get a another chance to extract from this ecosystem so easily. Who else should be on this list?
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linenmito
linenmito@linenmito·
We were eligible for 260,000+ $HYPE tokens on the @HyperliquidX airdrop because we were among the top $BTC and $ETH traders pushing volume on Hyperliquid and other PerpDexs then. Unfortunately, we did'nt get to claim, and at ATH, the tokens were worth around $10M One of many fumbles, but the one that hurts the most
linenmito tweet medialinenmito tweet media
linenmito@linenmito

What’s your biggest crypto fumble/mistake? I’ll go first 👇 During the @HyperliquidX airdrop, we completely forgot to register the claim Ended up forfeiting 260K+ $HYPE tokens now worth around $10M.

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figu
figu@figu_hl·
@_stevenhl Crypto valuations makes no sense
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steven.hl
steven.hl@_stevenhl·
I thought this was common sense, but it appears not: volume alone is not a valuable metric to look at when comparing exchanges due to how easy it is to manufacture numbers. Looking at OI or OI/volume better shows organic usage, and in this case Hyperliquid has 24x more than CB.
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Michael Nadeau | The DeFi Report@JustDeauIt

So much talk about Hyperliquid of late. But the thing that stands out to me when I look at the Perps market is that @coinbase did more Perps volume than Hyperliquid over the last 30 days. Which begs the question: Does Hyperliquid actually have regulatory arbitrage here? Coinbase generates roughly 87% of its revenue from U.S. customers. So, a relatively small set of its users internationally is generating more volume than Hyperliquid in a bear market. That's notable to me and counter to the prevailing CT narratives. --- P.S. in the last bear market I spent the most time studying "high throughput chains." This is what led to our SOL allocation at the lows. In this bear market, I'm spending the most time on the Perps market. We're releasing a deep dive for readers tomorrow. If you'd like to have the latest research hit your inbox when it's published, you can sign up below 👇

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