If you follow me you already know how bullish I am on on-chain trading.
I'm not looking for another $GMX fork tho..
My focus is on teams delivering a CEX-like experience in a permissionless, self-custodian, and decentralized way.
➤ Enter: @HyperliquidX 🧵 (α at the end)
I'm not looking for another $GMX fork tho..
My focus is on teams delivering a CEX-like experience in a permissionless, self-custodian, and decentralized way.
➤ Enter: @HyperliquidX 🧵 (α at the end)
Before we start, here the last week's thread on @vertex_protocol, exploring their all-in-one dex powered by a fascinating hybrid model.
Check it out! ⬇
Check it out! ⬇
As you may know, the problem with on-chain perpetual trading is that is often slow and expensive, it's not a smooth experience such as the ones offered by Bybit or Binance.
To solve this, different projects are powering their platform with a CLOB, which stands for...
To solve this, different projects are powering their platform with a CLOB, which stands for...
Central Limit Order Book
But building an on-chain orderbook is something extremely difficult to achieve, and projects like @vertex_protocol and @dYdX decided to match the orders off-chain,
Which means less decentralization and transparency.
Why?
But building an on-chain orderbook is something extremely difficult to achieve, and projects like @vertex_protocol and @dYdX decided to match the orders off-chain,
Which means less decentralization and transparency.
Why?
With an off-chain orderbook, a single party could censor your transactions or front-run you and there is nothing you can do to avoid it.
And if the sole operator running the CLOB has to shut down, the entire platform would collapse (Vertex solves this with its hybrid model).
And if the sole operator running the CLOB has to shut down, the entire platform would collapse (Vertex solves this with its hybrid model).
But when the orderbook is on-chain, all transactions are executed transparently.
It means you can verify that the platform is operating fairly, and no trust is needed.
@HyperliquidX built an L1 to achieve this.
It means you can verify that the platform is operating fairly, and no trust is needed.
@HyperliquidX built an L1 to achieve this.
It's a purpose-built blockchain performant enough to operate the whole exchange with:
➣ Block latency < 1 sec
➣ 20k orders/sec
➣ every order/cancel/liquidation transparently on-chain
No plans to support general-purpose smart contracts
➣ Block latency < 1 sec
➣ 20k orders/sec
➣ every order/cancel/liquidation transparently on-chain
No plans to support general-purpose smart contracts
Hyperliquid L1 uses Tendermint SDK, the same consensus engine used by @cosmos, secured by Proof of Stake.
Instead of other platforms where price discovery can't happen organically (GMX, Synthetix..), with a CLOB model the interaction of buyers and sellers has an impact on price.
Instead of other platforms where price discovery can't happen organically (GMX, Synthetix..), with a CLOB model the interaction of buyers and sellers has an impact on price.
But oracles still play an important role:
Oracle prices, which are the weighted median of Binance, OKX, Kraken and Huobi (3,2,2,1), are used for triggering TP/SL orders and liquidations.
Validators are responsible for publishing oracle prices for each asset every 3 seconds.
Oracle prices, which are the weighted median of Binance, OKX, Kraken and Huobi (3,2,2,1), are used for triggering TP/SL orders and liquidations.
Validators are responsible for publishing oracle prices for each asset every 3 seconds.
Ok if you've come this far, you already read the most boring part.
Let's get into @HyperliquidX features ⬇
Let's get into @HyperliquidX features ⬇
✦ ASSETS:
HyperLiquid already listed tens of cryptocurrencies including $ARB; $APE; $ATOM; $AVAX; $BNB; $BTC; $ETH; $FTM; $GMX; $MATIC; $RNDR; $SOL; $STX and more
The end goal is to allow a decentralized and permissionless listing process in the future.
HyperLiquid already listed tens of cryptocurrencies including $ARB; $APE; $ATOM; $AVAX; $BNB; $BTC; $ETH; $FTM; $GMX; $MATIC; $RNDR; $SOL; $STX and more
The end goal is to allow a decentralized and permissionless listing process in the future.
✦ FEES:
Takers: 0.25%
Makers: 0.02%
Referrers receive 10% of their referees Taker fees while the remaining goes to HLP
In the image the difference between takers and makers
Takers: 0.25%
Makers: 0.02%
Referrers receive 10% of their referees Taker fees while the remaining goes to HLP
In the image the difference between takers and makers
✦ VAULTS
Vaults let you provide liquidity for on-chain trading strategies which could be automated or managed by an individual trader.
There are two protocol vaults:
➣ HLP
➣ Liquidator
These vaults democratize strategies typically reserved for privileged parties.
Vaults let you provide liquidity for on-chain trading strategies which could be automated or managed by an individual trader.
There are two protocol vaults:
➣ HLP
➣ Liquidator
These vaults democratize strategies typically reserved for privileged parties.
Depositing into a vault entitles you to earn a share of vault PnL.
You can go deeper with these 3 articles:
➣ hyperliquid.xyz
➣ hyperliquid.xyz
➣ hyperliquid.xyz
You can go deeper with these 3 articles:
➣ hyperliquid.xyz
➣ hyperliquid.xyz
➣ hyperliquid.xyz
✦ UI
User Interface pleasantness is subjective.
Make your own idea with these screenshots ⬇
User Interface pleasantness is subjective.
Make your own idea with these screenshots ⬇
✦ BRIDGE
Depositing into HyperLiquid L1 is frictionless and quick.
You just need some USDC on Arbitrum (your deposit) and ETH for gas fees.
Now you can start trading and losing money 😁
Depositing into HyperLiquid L1 is frictionless and quick.
You just need some USDC on Arbitrum (your deposit) and ETH for gas fees.
Now you can start trading and losing money 😁
At this point you may be wondering.. ok that's cool but where is the ALPHA you promised?
Reading through the docs, a platform token is several times mentioned.
I'm sure they're going to reward their earliest users with an #Airdrop.
There's a BUT..
Reading through the docs, a platform token is several times mentioned.
I'm sure they're going to reward their earliest users with an #Airdrop.
There's a BUT..
The platform is in closed alpha at the moment, which means you can't join without an invitation.
I can invite only 3 people per week, so if you're interested hurry up and click this link:
🔗 app.hyperliquid.xyz
I can invite only 3 people per week, so if you're interested hurry up and click this link:
🔗 app.hyperliquid.xyz
And that's it! ✅
Here is @Cryptovoxam 🎈
Please, I'd love to connect with you here or in DM! 📩
See you next week with another thread! 🍸
Here is @Cryptovoxam 🎈
Please, I'd love to connect with you here or in DM! 📩
See you next week with another thread! 🍸
جاري تحميل الاقتراحات...