brokenorange.hl

@tradexyz Team getting ready for earnings

LITE is now live. 10x leverage, 24/7, 365.

@Blackswan_DeFi how to determine valuations from the current price in tradexyz for cbrs?

Some alpha on the $CBRS IPOP mechanics. Three key reference values to understand how this market works: 1️⃣ Reference valuation at $49B This comes from Cerebras’s last private round. It serves as the initial anchor for the oracle, essentially the last “known” fair value before the market opens. 2️⃣ Current perp valuation at $72B This is where the market is trading right now. So we’re pricing Cerebras ~47% above its last private round. The market is already anticipating an IPO premium. 3️⃣ Max valuation around $150B This is the system’s technical ceiling. Trade.xyz uses 5 discovery bounds, each set at +25%. Price has to break through them step by step. We’ve already cleared two bounds, which explains the move from $49B to ~$72B. _________________________________________________________________________ Now the key part: July 30 settlement. If Cerebras hasn’t IPO’d before July 30, the contract settles using a TWAP from May 1 to July 30. Meaning: you don’t get the “real” IPO price. You get the average perp price over the full period. Two important implications: • The market will likely stay anchored around the expected IPO valuation • If the IPO gets delayed, longs at $72B are taking a real risk on a TWAP settle _________________________________________________________________________ What's wild is that we can participate in this as crypto natives. A few years ago, access to pre IPO pricing was limited to private deals, secondary markets, and VC circles. Now it's a 24/7 on-chain market, open to anyone with a wallet. Thank you, @sershokunin.

There has never been an exchange compatible with every asset class. When US equities are surging and volume picks up, Nasdaq has a great year. If crypto enters a bull market, Binance and Coinbase volumes 10x. If the Fed is active and rates vol increases, CME has a great quarter. But the Nasdaq can't monetize flows in Japan. The Tokyo Stock Exchange can't make money off the commodites boom. Coinbase doesn't profit off heightened rates volatility. These exchanges aren't made to support a wide array of asset classes and opportunities. Their revenues are highly cyclical, tied to the underlying markets they serve. TradeXYZ breaks this mold entirely. XYZ can create a market for anything near instantly. Equities. Commodities. Rates. FX. There is always something happening in the world. We're designed to capture idosyncratic moments of volatility in a world where anything can happen on any asset, anywhere, anytime. The result is a diversified business that isn't long any single asset class or country, but rather long global asset volatility as a whole. This is the final platform for traders, with deep liquidity for every major market in the world, open 24/7/365. The universal venue. Powered by Hyperliquid. Trade everything, trade XYZ.

S&P Dow Jones Indices and trade[XYZ] have joined forces to launch the first official S&P 500 perpetual contract, available exclusively on Hyperliquid. For 69 years, the S&P 500 has been a defining reference point for global finance. Until now, access to that benchmark has been shaped by market hours, intermediaries, and geography. Today, that changes. The S&P 500 perp is now available 24/7/365, anchored by the official index data required for deep liquidity and institutional confidence at scale.  SPDJI helped define modern indexing. They are stewards of an iconic benchmark, the standard against which portfolios across the globe are measured. We are honored to bring that legacy on-chain. Trade[XYZ] is bringing the world's most iconic assets towards a future of global, continuous markets — a future powered by Hyperliquid.

@HyperliquidX Hyperliquid

Over the past 2 weeks, RWA trading on Hyperliquid has repeatedly broken records, surpassing $1.3B in open interest and $1.4B in weekend volume. When traditional markets are closed, Hyperliquid is the premier venue for 24/7 price discovery on oil, metals, indices, and other essential assets. This is an important step towards housing all of finance.

🆕 NEW HIP-3 TICKER🆕 The $VIX ticker has been purchased for 566.34 $HYPE or $19,643 by @tradexyz

Bloomberg can’t stop writing about the house of all finance! “For an industry grappling with subdued token prices, the rise of oil trading on Hyperliquid offers a tangible demonstration of crypto infrastructure’s broader utility, independent of Bitcoin’s swings.”

@tradexyz TradeXYZ opens SKHynix perps same day it makes a new ATH? Coincidence? I think not.

SK Hynix is now live. 10x leverage, 24/7, 365.

@tradexyz reached new all-time highs with $5.45B in 24h volume. In the last 5 days, trade[XYZ] crossed $13.31B in cumulative volume.

Hyperliquid, meet Ripple Prime: on.ripple.com/4ke7TzL We’re now enabling institutions to access onchain derivatives liquidity through @HyperliquidX in a streamlined and secure way. Customers can also efficiently cross-margin crypto with all asset classes supported by our prime brokerage platform. Institutions, welcome to the onchain economy.

Hyperliquid is testing native prediction markets on testnet.

@mlmabc What! That hypurr looks so gd

@HyperliquidX HIP3rliquid

HIP-3 open interest reached an all-time high of $790M, driven recently by a surge in commodities trading. HIP-3 OI has been hitting new ATHs each week. A month ago, HIP-3 OI was $260M.

Felix x Ondo Felix will soon deliver spot equities to users in collaboration with @OndoFinance. Through Felix’s integration with Ondo Global Markets, Felix users will be able to: >Access 100+ US equity markets directly through trade.usefelix.xyz at launch (expanding to 1,000+ equities over the coming months) >Trade spot equities onchain with tradfi-level liquidity 24/5 >Borrow against spot equities on Felix (coming soon) Felix spot equities will not be hindered by AMM liquidity like previous onchain equity products due to our implementation with Ondo. Buyers/sellers will be able to get tradfi-level execution on multi-million dollar equity orders Day 1. Ondo Global Markets holdings are publicly and regularly audited to demonstrate overcollateralization. Ondo provides daily public attestations, a bankruptcy-remote legal structure, an insurance fund, and multiple smart contract audits. This approach to security and transparency is in large part why Felix is working with Ondo. More details on rollout will be shared soon.

@ElNachoCrypto Need silver perps on Variational

i get annoyed looking at the silver chart, should have gone so much bigger i was in matti's dms telling him how bullish i was a while back 'generational trade, brev' one of my flaws is that sometimes i don't put enough size on my best idea but then i remember variational, how insanely bullish this year is looking, and all is well gvar

@tradexyz when $sndk perp listing

Hyperliquid today looks very different from Hyperliquid a year ago. This time last year, the HyperEVM hadn’t even launched, and there were only a handful of early believers building exclusively on Hyperliquid. Now, there are hundreds of teams building, dozens of regional communities with local events, and trillions more in volume traded. This was achieved without any external funding and giving all protocol fees to the community. Hyperliquid was built with a strong belief in returning to the core ethos of crypto  -  changing entrenched and predatory practices to be fair and permissionless. This art piece is meant to celebrate Hyperliquid’s growing ecosystem and commemorate how far we’ve come as a community in building the house of all finance. You’ll find many of your favorite apps and teams interwoven in the piece if you zoom in. A special thank you to @Degen_Alfie for bringing the community to life. Many great teams didn’t make it due to limited space and time, but your contributions have not gone unnoticed! Notable product and tech releases in 2025 included: + HyperEVM launch with HyperCore composability via precompiles and CoreWriter + Spot assets bridged by Unit + Fully permissionless validator set + Native utility to staking, with fee discounts for traders and permissionless HyperCore deployment capabilities for builders + Permissionless spot quote assets + Hypurr NFTs + USDH governance vote and launch by Native Markets + HIP-3 permissionless perp deployment + Native USDC integration + Portfolio margin pre-alpha launch + Assistance Fund HYPE officially burned Compared to 2024, ATHs in 2025 reached: + $32B in 24h volume from $15B in 2024 + $16B in open interest from $4B + $6B in TVL from $2B + $20M in 24h protocol revenue from $3.5M + 1.4M users from 300k Excited to see what the ecosystem looks like another year from now. Thank you to all the builders, users, and supporters who have come together to push forward Hyperliquid’s vision.