altoshi

New on @LorisTools: RWA Perps Roll Calendar WTI, Brent, and NatGas perp roll schedules (in both Time Series and Calendar views) for: - Trade[XYZ] - Binance - Bybit - OKX - Dreamcash - Felix - Lighter And corresponding expirations from the CME contract calendar. Check it out → loris.tools/rwa/roll-calen…

This is the story of Hyperliquid, the most profitable startup per employee on earth, told from a guarded office in Singapore. Last year, its team of 11 generated $900 million in profit. It's 3 years old, has never taken a dollar of venture capital, and is beginning to change how century-old markets work. Its founder, Jeffrey Yan (@chameleon_jeff), had never taken a physics class when he picked up a textbook at 16. Two years later, he won gold at the International Physics Olympiad. In 2019, he started trading with $10,000 from a living room in Puerto Rico—working off a television because he didn't own a monitor. Within 3 years, he was running one of the largest anonymous crypto trading firms. Then he shut it down. Yan was rich and free, but he had spent years inside crypto, watching it betray itself. Bitcoin's central premise was decentralization. Yet the biggest exchanges were centralized. Crypto kept reintroducing the dependence on trust it was built to eliminate. He set out to create what should have existed. Hyperliquid is a blockchain with a trading exchange on top, and anyone can build on it. Yan's vision is to house all of finance. In 3 years, it has done over $4 trillion in volume. And in the past few months, it has begun to outgrow crypto. Markets for oil, silver, and the S&P 500 now trade on Hyperliquid around the clock, weekends included, and are growing roughly 40% week on week. When the US and Israel bombed Iran on a Saturday in February, Hyperliquid was the venue traders turned to. Hyperliquid's success has cost Yan his freedom. He works out of a secret office in Singapore and cannot travel without two bodyguards. Even the team's housekeeper doesn't know what they do. In January, @domcooke spent a week at their office. Read his profile on Yan and @HyperliquidX below.

JUST IN: Lighter CEO (@vnovakovski) calls in today at 1:45pm ET.

75% of Hyperliquid addresses are net unprofitable. When you see a trader-KOL with smart face on your feed, there is roughly a 3/4 chance that it lost money on perps. Once you understand how financial markets work, you will quit all discretional trading. Most .hl accounts you see in your feed are net unprofitable (go check their addresses) and the only ones profitable were either quantitatives (like @0xLoris) or were on the positive side of variance, i.e., luck (e.g., @NMTD8) p.s., if you solely rely on 'gut feeling' (luck), mathematically less painful for you would be playing a casino. A core reason discretionary traders suffer losses is market efficiency. In highly liquid and informationally dense markets, like commodities, large-cap cryptocurrencies, equities, and major indices, new information is priced into mark prices at remarkable speed. The news you just read? Already priced in. The technical indicator you rely on? Also priced in. Quantitative firms and exchanges operate with superior infrastructure, data access, and execution capabilities, making it exceptionally difficult (almost impossible) for manual traders to sustain an edge. Mathematically, the structure of these markets favor makers and systematic participants, while takers, particularly uninformed discretionary ones, face a persistent negative expected value, with the narrow exception of non-directional strategies with minimized costs, such as points farming. If you're an uniformed discretional trader (99.9% of readers), the most +EV course of action may be counterintuitive but is well-supported by the data: 1) Delete all trading apps (esp. mobile ones) 2) Quit all trading 3) Be on the side of the profitable exchanges (i.e., get exposure to them via their coinized shares, such as $HYPE, $LIT, $BNB) 4) Become a maker (p.s., providing exit liquidity through AMMs or retail tools like treadfi is extremely negative expected value for you) Hyperliquid

📊According to the data from #CoinAnk's Hyperliquid Wallet Data, monitoring 287,190 addresses: Profitable addresses: 59,411 Unprofitable addresses: 180,846 Percentage of unprofitable addresses: 75.27% The overall long/short positions of CoinAnk’s monitored wallets are currently roughly neutral. 🔗：coinank.com/hyperliquid/wa…

It appears that Kinetiq also has a 4/7 multisig to operate. Their docs doesn’t mention this. kHYPE uses upgradable smart-contracts, which are controlled by the 4/7 multisig—all multisig signers are the Kinetiq’s contributors. This means that Kinetiq’s team has an administrative control over the protocol and can make any changes simply by upgrading the smart contracts: From legitimate security updates to potentially malicious actions, such as withdrawing all HYPE staked through smart contract update or minting an unlimited supply of kHYPE. Additionally, if 4 out of the 7 multisig signers get compromised, the entire protocol could be at risk. Similar to the incident happened with Bybit's ETH multisig wallet hack back in February. This structure is common in early-stage or evolving protocols for flexibility, but calling kHYPE “decentralized” or “trustless” is technically wrong. Ultimately, kHYPE is not decentralized and is not a trustless LST as most people think. Staking HYPE through Kinetiq requires placing trust in their team and security. All tech-related info was shared by @0xOmnia. Stay safe.