Update

Tech
+ See ⁠API announcements in Discord or TG for improvements to builder codes and api-related updates
+ Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via Discord ticket. Thank you for your reports!

Trading
+ New ATHs were reached in open interest ($2B) and 24h volume ($6B)
+ PURR and PNUT perps were listed

Community Highlights
+ Shoutout to HypurrCo x HyperActive x CL for hosting an awesome event at DevCon: https://x.com/hypurr_co/status/1857369316003545138
+ Jeff discussed what drives him, the vision for Hyperliquid, and how Hyperliquid stands apart from other blockchains in this podcast: https://www.youtube.com/watch?v=WeRh589I76o
+ Copin supports copy trading on HL: https://x.com/Copin_io/status/1853347962837143926
+ Using builder codes, Okto supports trading on their mobile app: https://x.com/okto_web3/status/1853437295329997176
+ Vooi, a perp dex aggregator, integrated HL: https://x.com/vooi_io/status/1859115693679001684
+ Katoshi supports alerts for their HL trading bots, which are compatible with TradingView: https://x.com/KatoshiAI/status/1856747332324282673
+ Hyperterminal displays trading details of top leaderboard users: https://x.com/hyterminal/status/1858199880466129034
+ Pine Analytics shared stats on the Arbitrum bridge: https://x.com/PineAnalytics/status/1855977363596595501
+ Monk made a map of early builders in the HL ecosystem: https://x.com/defi_monk/status/1856094194294473178

Points
+ Points will be distributed next week and will include activity in May, October, and early November

By community request, you can now long or short $XLM with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/XLM

By community request, you can now long or short $CHILLGUY with up to 3x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/CHILLGUY

Hyperliquid’s vision is to create a fair new financial system for all. All users are important, no matter their volume or account value.

Real users receive fewer points when large-scale sybil farms try to game the system to receive more than their fair share. Investigation by different research teams identified that over 27,000 addresses operated by approximately 100 individuals attempted to receive disproportionately more points through large-scale and systematic inorganic behavior. These addresses’ points were multiplied by 2% or 20% based on the scale of sybil activity. Affected addresses include a line on the Points page saying, “Sybil behavior detected.” The end result is a larger fraction of points going to real users.

In addition, 8M points were distributed for activity in May and 8.4M points for activity in October and early November. In sum, the final number of points is 57.9M.

Please see the following message from the Hyper Foundation twitter account: https://x.com/HyperFND/status/1862007773191708760

Blog post: https://hyperfnd.medium.com/hype-genesis-1830a4dc2e3f

Note that higher network congestion on the L1 is expected around the genesis event, which will occur at 07:30 UTC on November 29.

Weekly Update

Tech
+ As mentioned in the ⁠API announcements channel, the tick formula was updated to allow all integer prices regardless of number of sig figs. For example, after the change 123456 will be a valid price for BTC-USD.
+ Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via Discord ticket. Thank you for your reports!

Product
+ Misc UI improvements: Language in withdrawal modal was updated to explain transferring from Perps to Spot balances, improved notification dismissal animations on mobile, use trigger price instead of BBO for Stop Limit order warnings, etc.

Trading
+ XLM and CHILLGUY perps were listed
+ OI reached a new ATH of >$2.5B

Community Highlights
+ Parsec built a testnet HyperEVM explorer: https://testnet.purrsec.com/. Please share feedback with the Parsec team
+ Notifi supports alerts for token prices, liquidation risks, and more on HL: https://x.com/notifinetwork/status/1859794066407371068?s=46&t=FzB82NK1Ig2kb_HLvfwl3A
+ https://pvp.trade/ is running a trading competition: https://x.com/pvp_dot_trade/status/1861427350447005775
+ ASXN has written several reports on Hyperliquid: https://data.asxn.xyz/

Points
+ 16.4M points were distributed for activity in May, October, and early November. Sybil clusters were slashed, with their points multiplied by 2% or 20% based on the scale of sybil activity.

Genesis Event
+ The HYPE genesis event will take place at 07:30 UTC on November 29.
+ Note that higher network congestion on the L1 is expected around the genesis event. Deposits & withdrawals may also take longer than usual due to congestion on the Arbitrum bridge around the genesis event.

By community request, you can now long or short $ALGO, $IOTA, and $SAND with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/ALGO
https://app.hyperliquid.xyz/trade/IOTA
https://app.hyperliquid.xyz/trade/SAND

Hyperliquid reached a new all-time high in 24h volume of >$8.5B.

Open Interest also reached a new all-time high of >$3B.

By community request, you can now long or short $HYPE with up to 3x leverage.

Note that the HYPE-USD oracle is USDC-denominated instead of USDT-denominated. As with all other perps, HYPE-USD is USDC-margined.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/HYPE

Hyperliquid reached a new all-time high in 24h volume of >$10B.

Hyperliquid reached a new all-time high in open interest of >$3.5B.

LOOM-USD will be delisted on December 12 at 08:30 UTC. All positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, LOOM-USD perps will be delisted, and no new orders will be accepted.

By community request, you can now long or short $ME with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/ME

By community request, you can now long or short $MOVE with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/MOVE

Biweekly update

Tech
+ As posted in API Announcements, API keys (both named and unnamed agents) will no longer work after their deadline. When a key expires, it is highly recommended to generate a new key, as the nonce tracking information for expired agents are eventually pruned from the L1 state. Note that legacy API keys created before deadlines were implemented will expire on Dec 14.
+ As a reminder, the validator set is permissionless on testnet. There is a self-delegation requirement of 10k HYPE to register a new validator and be eligible for the active set. The top N validators by total delegated stake form the active set. Currently N=50 on testnet.
+ Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via ⁠Discord ticket. Thank you for your reports!

Product
+ Misc UI improvements: require checkbox confirmation to Send to new address on the L1, mobile QR code modal improvements, etc.

Trading
+ ALGO, SAND, IOTA, HYPE, ME, and MOVE perps were listed
+ LOOM perps were delisted
+ OI reached a new ATH of >$3.5B
+ 24h volume reached a new ATH of >$10B
+ 24h liquidations reached a new ATH of >$1B

Genesis Event
+ The HYPE genesis event occurred smoothly on November 29

Community Highlights
+ Builders can use the testnet EVM explorers built by Parsec and Prince: https://testnet.purrsec.com/ and https://hyperevm-explorer.vercel.app/
+ Ambit wrote about precompiles: https://medium.com/@ambitlabs/the-not-so-definitive-guide-to-hyperliquid-precompiles-f0b6025bb4a3
+ Pine Analytics shared notes on the Arbitrum bridge reaching 1.5B in USDC deposits: https://x.com/PineAnalytics/status/1865867525021409638
+ Octav added support for spot in their portfolio tracker: https://x.com/OctavFi/status/1863606594845786318

By community request, you can now long or short $VIRTUAL with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/VIRTUAL

Hyperliquid reached a new all-time high in open interest of >$4.3B.

By community request, you can now long or short $PENGU with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/PENGU

By community request, you can now long or short $USUAL with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/USUAL

BLZ-USD will be delisted on December 22 at 08:30 UTC. All positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, BLZ-USD perps will be delisted, and no new orders will be accepted.