awitize
1.9K posts
@0xAwitize
eyes closed head first can't lose
Summoning circle: 🕯 🕯🕯🕯 🕯 🕯 INTC candle 🕯 🕯 on hyperliquid 🕯 🕯 🕯🕯 🕯🕯🕯
I’m personally in favour of this. I understand why people see it as exit liquidity, but Hypercore spot needs to be more than just HYPE and Unit trading. Aside from those assets, the spot market is in dire straits and needs some activation energy. We cannot continue to rely on HyperEVM AMM liquidity for ecosystem tokens because HyperEVM is just not good for that. Even with the upcoming gas limit increase to 3M, aggregator swaps will still hit the limit and be unusable without big blocks during volatility. In order to house all of finance, Hyperliquid needs a DeFi ecosystem and a DeFi ecosystem needs to have confidence in its projects. Hypercore launches’ performance thus far is not solely down to the merit of the project and market conditions — a large part of why they have been so bad is a lack of trading activity on Hypercore spot and a lack of belief in HL tokens. The instant down only, low liquidity, low volume PA we have seen is an unnatural consequence of zero support for HL tokens. These launches would’ve relatively done a lot better on Base or Solana. Whether you like it or not, Hyperliquid’s growth will be stunted if Kinetiq/Hyperlend/Felix/Ventuals/etc suffer the same fate at TGE. Diverting 5% of the AF results in 30% higher historical PA since 25/9/25 (would love to see the simulation for a longer time frame though) for PURR, with no material impact on historical HYPE PA. FYI: PURR & HFUN are only singled out in the report because they are the 2nd & 3rd largest non-Unit tokens by marketcap on core, not because Eric is a bagholder. Apportioning these buybacks amongst the strict list tokens, and later decentralising strict list selection, creates a sort of Curve war on Hyperliquid, which I think will stimulate the ecosystem out of the current depression. This also adds more utility to @kinetiq_xyz & @stakedhype’s future tokens because they will be forced to implement a governance structure on top of this to avoid having their controlled stake discounted from the votes, adding another layer of ve mechanics for KNTQ and others, on top of any already planned around exLSTs. Lastly, as the diagram shows, voters can choose to assign however much they want of this 5% to HYPE buybacks. Therefore, HIP-5 is a no-harm-done, net improvement because, if it is the community’s will, the current AF status quo can be maintained. HIP-5 only sets up the framework for community-driven optionality. as required. Would love to hear @0xOmnia & @0xBroze's opinions on this.
