Liquid Alpha

@cryppimagic @HyperliquidX Yeah, makes me think it will have something actually launching at some point.

@getliquidalpha @HyperliquidX it’s just strange that things like this get deployed to production

new HIP-3 DEX - "abcd"? was working on stuff for my project and noticed that the @HyperliquidX API returns another HIP-3 dex codename - "abcd", with a single market - USA500 just a test deployment or something new coming?

Maybe writing esoteric "manifestos" isn't the most productive way to bring about real-world use.

@HyperliquidEco @0xOmnia @0xasrequired @HYPEconomist @yllo02 @yieldyumi @RaizeThatQ New theory, it's actually mobile app launch, based on this IG post: instagram.com/p/DWChjeskhdg/ Also, "devs cooking" mentioned on their Discord, and devs don't need to cook for just another points season imo.

Is this another hint from @0xOmnia about ending of season 2? May 21 means 27 weeks of points in total - 21.6M total amount of points 3 messages? Hopefully this doesn’t mean only 3% airdrop. What you guys think? @0xasrequired @HYPEconomist @yllo02 @yieldyumi @RaizeThatQ Heavily Kinetiq Coded

@MaxLongCEO You can't fork the product either because it's not open source for now (and that comes with pros and cons).

u can Fork the HyperLiquid Product u cant Fork the HyperLiquid Team

@will__price That doesn't exactly make sense. Their revenue is in USDC. How can they pay out LIT with pre TGE revenue?

@getliquidalpha x.com/babastianj/sta…

"Why is LIT trading at a lower multiple than HYPE?" Because it's not burnt.

@0xasrequired @HyperliquidEco @0xOmnia @HYPEconomist @yllo02 @yieldyumi @RaizeThatQ @HypeStatsx This makes more sense... Officially starting but points during the break too. Patterns do exist.

i think S3 starts 21/5 @yieldyumi please update @HypeStatsx, as required.

@Mr__Gollum Hey @GWR can we get an official count for the record?

The number of Ls this guy is racking up trying to fade Hype is hilarious

@roundtrip00 Not yet, SOL bulls can't see them yet.

schizo rotation era is over because the assets with actual moats are finally obvious enough even eth bulls can see them

@TeddyRoosevalt @KyleSamani @EvgenyGaevoy @totlsota Not needed, Kyle's favorite trade is to buy USDC with SOL. USDC to $3.50 soon!

@KyleSamani @EvgenyGaevoy @totlsota When’s the drift S&P500 announcement?

actually a big deal imo

Is Kyle close to an official @GWR for being wrong about Hyperliquid?

update?

@HyperliquidEco @0xOmnia @0xasrequired @HYPEconomist @yllo02 @yieldyumi @RaizeThatQ Isn't there 30% left? Or, maybe 3rd season?

@MavenHL It's OK, he can continue buying USDC with his SOL.

Kyle Salami looking at an exclusive S&P 500 perp license, realizing he walked away because he didn’t want to buy $HYPE

HYPE is still your best opportunity for a 10x in crypto in the next 2-3 years. It's not without risk and it's not guaranteed. But it's your best opportunity.

This whole "not initially charging for trading/buildercodes/services" plan only works in the VC-subsidized world where you can create a monopoly. Lighter has to compete against a $15B+ HYPE war chest, without considering all the other builders on Hyperliquid and the incentives they can provide. More importantly, this is what Hyperliquid has already achieved. Hyperliquid already undercut competitors on fees in its first years to gain quasi monopoly status and now can enjoy a higher margin on "basic" accounts while still being extremely competitive there with higher volume and staking discounts. Secondly, there's already lower margin on tradfi perps, and we think the correct assumption is that so-called growth-mode will be on for a long while for most HIP-3 deployers, maybe even forever. Lastly, the assumption that the "fees" are the thing that attracts users has been proven wrong on a regular basis. For Lighter specifically, they charge market makers money (or they do backroom deals like the ones @mlmabc found) while Hyperliquid offers them rebates. Where do you think market makers will be providing better liquidity? Oh, and a regular point on LIT vs HYPE is that "LIT has lower PE ratio, it should go up!" but this is a "winner takes all" market. Recommended reading on that topic: fs.blog/mental-model-w…

some thoughts hyperliquid has dominated perps and the downfall of competing perp dexs has just fueled the re-rating of the market leader i still think hyperliquid's marginn is too high for there to not be risks there. when margins are that high and take rates are +3bps, there is just a ton of room for undercutting. no team has competed well post tge. lighter is still prolly the best shot today but they have a lot of work to do on their broad based gtm strategy, comms, RWA listings, and getting great distribution via partner attribution (builder codes) a side note on partner attribution: as it reads today, it does not sound like they (lighter) are going to be charging fees on builder codes and i think this is a massive mistake if they do that (maybe i am misreading docs) offering 0bp fees to native users is fine, but giving away api/builder integrations for free means you're subsidizing distribution partners' businesses with your own burn rate which isn't what i would prefer to see i think if you offer zero fees initially, this won't give funds a net new reason to step in to buy (unless distro is god tier) as revenues will not meaningfully change. we could even see lighter take rate go down (increased volume from net new users who use a standard account - win/lose?) but if you run a revshare model with the builder you remove the hurdle rate for them (the builder) while increasing your (the exchange) overall take rate most pro trading terminals wont/cant charge more than 1bp so having a hurdle rate of 2bps makes it impossible to partner and is why i like the revshare model and maybe lighter isn't able to eat into hyperliquid's margin (the pie will continue to grow and both win) but it feels intellectually dishonest (as someone with hype bags and lit bags) to not believe that there is real risk for margin compression on hyperliquid's front. given that builder codes already do a decent % of hl's total volumes - if lighter (or another competitor) can get decent distro and attract users through a revshare model that actually works for partners, it could force hl to lower fees over time. this won't happen overnight but the risk isn't zero. in a perfect world lighter will be able to grow the overall perp pie via their new partner attribution program (a win) and hl margins take years to compress (a win) i hold both hype and lit

It would be half hilarious half sad if @Kinetiq_xyz does a second airdrop before a handful of other big @HyperliquidX ecosystem builders didn't even finish their "first season" of points.

Is this the underlying of a Hyperliquid?