Yesterday is a good reminder to stay humble, hungry, and focused on what matters: building a better financial system owned by the people. Hyperliquid is not perfect, but it will continue to iterate and grow through the collective efforts of builders, traders, and supporters.
Users with JELLY long positions at the time of settlement will be refunded by the Foundation as if their position settled at the closing price of 0.037555. This results in all JELLY traders being settled at a price advantageous to them, except flagged addresses.
To recap what happened:
A trader self-traded a 4M USDC JELLY position at 0.0095.
The price of JELLY then rose more than 4x, with HLP backstop liquidating the 4M position.
The short position led to a loss in HLP’s account value.
The OI cap formula is a dynamic function of global liquidity and OI on other venues including major CEXs. A 4M USDC position fell within those limits, but additional open interest was prevented from being opened beyond the automatically triggered cap.
However, the key issue was that once HLP took over the position, it shared collateral with the other component vaults in the strategy and therefore did not trigger ADL.
Risk management on Hyperliquid is being strengthened in various ways, including:
+ HLP: The Liquidator vault will have a tight cap representing a small percentage of total HLP account value, rebalanced less frequently, and more sophisticated logic around taking backstop liquidations. ADL will be triggered if the Liquidator loses above a certain threshold, instead of moving collateral automatically from the other component vaults. Note that ADL is not expected to trigger during organic market activity.
+ OI caps: Open interest caps will be refined to be dynamic relative to market cap.
+ Delistings: Validators will vote onchain to delist assets that fall beneath thresholds.
Thank you for your continued feedback, support, and commitment.
Users with JELLY long positions at the time of settlement will be refunded by the Foundation as if their position settled at the closing price of 0.037555. This results in all JELLY traders being settled at a price advantageous to them, except flagged addresses.
To recap what happened:
A trader self-traded a 4M USDC JELLY position at 0.0095.
The price of JELLY then rose more than 4x, with HLP backstop liquidating the 4M position.
The short position led to a loss in HLP’s account value.
The OI cap formula is a dynamic function of global liquidity and OI on other venues including major CEXs. A 4M USDC position fell within those limits, but additional open interest was prevented from being opened beyond the automatically triggered cap.
However, the key issue was that once HLP took over the position, it shared collateral with the other component vaults in the strategy and therefore did not trigger ADL.
Risk management on Hyperliquid is being strengthened in various ways, including:
+ HLP: The Liquidator vault will have a tight cap representing a small percentage of total HLP account value, rebalanced less frequently, and more sophisticated logic around taking backstop liquidations. ADL will be triggered if the Liquidator loses above a certain threshold, instead of moving collateral automatically from the other component vaults. Note that ADL is not expected to trigger during organic market activity.
+ OI caps: Open interest caps will be refined to be dynamic relative to market cap.
+ Delistings: Validators will vote onchain to delist assets that fall beneath thresholds.
Thank you for your continued feedback, support, and commitment.
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The Hyperliquid blockchain has been upgraded to feature fully onchain validator voting for asset delisting. When a quorum of stake has voted for a delisting, the action automatically triggers onchain. This permissionless stake-based vote weighting primitive is built natively into HyperCore and technically requires no offchain coordination.
As a demonstration of the new primitive, the Hyper Foundation validators 2-5 will vote to delist MYRO perps around 13:00 UTC on March 29. Hyper Foundation validator 1 will abstain from voting until delegations to initial Delegation Program participants are complete.
Like on other chains, most validators will likely make their intended votes clear offchain beforehand to provide users clarity and predictability. The Hyper Foundation does not act or speak on behalf of other validators. There may be interfaces built or provided in the future to summarize validator voting in a more user-friendly way.
As a demonstration of the new primitive, the Hyper Foundation validators 2-5 will vote to delist MYRO perps around 13:00 UTC on March 29. Hyper Foundation validator 1 will abstain from voting until delegations to initial Delegation Program participants are complete.
Like on other chains, most validators will likely make their intended votes clear offchain beforehand to provide users clarity and predictability. The Hyper Foundation does not act or speak on behalf of other validators. There may be interfaces built or provided in the future to summarize validator voting in a more user-friendly way.
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The onchain delisting of MYRO perps took place smoothly. The vote completed onchain as soon as quorum was reached at 13:16 UTC, which happened when the 13th validator cast its vote. Hyper Foundation 1 and 3 did not vote.
You can see the explorer transactions for the onchain votes. Here is an example for Nansen x HypurrCollective’s vote to delist, which led to quorum being reached: https://app.hyperliquid.xyz/explorer/tx/0xf4d5e0ded45c40abbbd7042080ab1e01c2006434c5f188b1a14ee473c3fc8dd5
You can see the explorer transactions for the onchain votes. Here is an example for Nansen x HypurrCollective’s vote to delist, which led to quorum being reached: https://app.hyperliquid.xyz/explorer/tx/0xf4d5e0ded45c40abbbd7042080ab1e01c2006434c5f188b1a14ee473c3fc8dd5
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Biweekly update
Product
+ ETH spot trading, deposits, and withdrawals are now live, thanks to Unit. You can trade spot ETH here: https://app.hyperliquid.xyz/trade/0xe1edd30daaf5caac3fe63569e24748da
+ Staking tiers determined by the amount of HYPE staked will go live on or after April 30. The initial benefit of staking tiers is reduced trading fees.
+ Misc UI improvements, e.g., added Transfer to EVM button to linked spot assets on the Balances table, tidied up Funding Comparison table
Trading
+ NIL perps were listed; JELLY and MYRO were delisted
Validators
+ The Hyperliquid blockchain has been upgraded to feature fully onchain validator voting for asset delisting. Many validators suggested having discussions happen in a public forum. While token-gated discussions are being considered (e.g., permission to post based on staked HYPE), a Discord channel #governance has been created as a temporary solution. To limit spam in the short-term, only validators and their nominated users can post, but all server members can view and react to discussion. The first topic being discussed is delisting methodology and initial assets to delist. The goal here is to reach offchain consensus transparently on which assets to delist, followed by an onchain vote.
EVM Updates
+ HyperCore and HyperEVM linking is live on mainnet. HyperCore spot assets are available as building blocks for applications on HyperEVM, and HyperEVM builders have a permissionless path to listing on the same liquid and performant order books that power billions of volume per day on HyperCore.
+ Sprites shared a script to backfill missing HyperEVM blocks on non-validating nodes: https://github.com/hyperliquid-dex/block-importer
New Teams Live on EVM (in no particular order)
+ Sentiment borrow/lend platform: https://x.com/sentimentxyz/status/1902027231758786711
+ HyperLend borrow/lend platform: https://x.com/hyperlendx/status/1904170955666001957
+ Vaults by Mizu Labs and Hyperbeat + various ecosystem partners:
https://x.com/mizulabs/status/1904580698792747018
https://x.com/0xHyperBeat/status/1904582047772938708
+ OmniX DVN validates cross-chain messages between supported chains and HyperEVM: https://x.com/OmniX_NFT/status/1899871344835039679
+ Hyperliquid Names auctions: https://x.com/hlnames/status/1902876154807333140
+ RedStone oracles: https://x.com/redstone_defi/status/1904203670457319460
Community Highlights
+ Stargate integrated Unit for ETH deposits: https://x.com/stargatefinance/status/1905670060477452593
+ Cielo wallet tracker added Hyperliquid: https://x.com/CieloFinance/status/1904959500466999395
+ Jan organized a fundraiser for the cat shelter Zilinske labky 3 months ago, and they shared a video of cats the community was able to support: https://x.com/janklimo/status/1905961119660884104
+ New Hypurr stickers have been added to Discord and Telegram: https://t.me/addstickers/Hypurrliquid
Product
+ ETH spot trading, deposits, and withdrawals are now live, thanks to Unit. You can trade spot ETH here: https://app.hyperliquid.xyz/trade/0xe1edd30daaf5caac3fe63569e24748da
+ Staking tiers determined by the amount of HYPE staked will go live on or after April 30. The initial benefit of staking tiers is reduced trading fees.
+ Misc UI improvements, e.g., added Transfer to EVM button to linked spot assets on the Balances table, tidied up Funding Comparison table
Trading
+ NIL perps were listed; JELLY and MYRO were delisted
Validators
+ The Hyperliquid blockchain has been upgraded to feature fully onchain validator voting for asset delisting. Many validators suggested having discussions happen in a public forum. While token-gated discussions are being considered (e.g., permission to post based on staked HYPE), a Discord channel #governance has been created as a temporary solution. To limit spam in the short-term, only validators and their nominated users can post, but all server members can view and react to discussion. The first topic being discussed is delisting methodology and initial assets to delist. The goal here is to reach offchain consensus transparently on which assets to delist, followed by an onchain vote.
EVM Updates
+ HyperCore and HyperEVM linking is live on mainnet. HyperCore spot assets are available as building blocks for applications on HyperEVM, and HyperEVM builders have a permissionless path to listing on the same liquid and performant order books that power billions of volume per day on HyperCore.
+ Sprites shared a script to backfill missing HyperEVM blocks on non-validating nodes: https://github.com/hyperliquid-dex/block-importer
New Teams Live on EVM (in no particular order)
+ Sentiment borrow/lend platform: https://x.com/sentimentxyz/status/1902027231758786711
+ HyperLend borrow/lend platform: https://x.com/hyperlendx/status/1904170955666001957
+ Vaults by Mizu Labs and Hyperbeat + various ecosystem partners:
https://x.com/mizulabs/status/1904580698792747018
https://x.com/0xHyperBeat/status/1904582047772938708
+ OmniX DVN validates cross-chain messages between supported chains and HyperEVM: https://x.com/OmniX_NFT/status/1899871344835039679
+ Hyperliquid Names auctions: https://x.com/hlnames/status/1902876154807333140
+ RedStone oracles: https://x.com/redstone_defi/status/1904203670457319460
Community Highlights
+ Stargate integrated Unit for ETH deposits: https://x.com/stargatefinance/status/1905670060477452593
+ Cielo wallet tracker added Hyperliquid: https://x.com/CieloFinance/status/1904959500466999395
+ Jan organized a fundraiser for the cat shelter Zilinske labky 3 months ago, and they shared a video of cats the community was able to support: https://x.com/janklimo/status/1905961119660884104
+ New Hypurr stickers have been added to Discord and Telegram: https://t.me/addstickers/Hypurrliquid
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As discussed in the Discord governance channel, using Stalequant's methodology for reference, validators will be voting whether to delist RLB, HPOS, ORBS, BNT, NTRN, and ILV around 12:00 UTC on April 4.
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The onchain delisting of RLB, HPOS, ORBS, BNT, NTRN, and ILV perps took place smoothly. The votes completed onchain once quorum was reached at 12:12 UTC.
You can see the explorer transactions for the onchain votes. Here is an example for CMI's vote to delist RLB: https://app.hyperliquid.xyz/explorer/tx/0xedc87093307fb67de03a0420e3259d017000f05b38fcebe6c8bed96c724a74d5
You can see the explorer transactions for the onchain votes. Here is an example for CMI's vote to delist RLB: https://app.hyperliquid.xyz/explorer/tx/0xedc87093307fb67de03a0420e3259d017000f05b38fcebe6c8bed96c724a74d5
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By community request, you can now long or short $PAXG 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/PAXG
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/PAXG
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As discussed in the Discord governance channel, validators will be voting whether to delist AI, BADGER, CATI, CYBER, LISTA, PIXEL, and RDNT around 12:00 UTC on April 11.
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The onchain delisting of AI, BADGER, CATI, CYBER, LISTA, PIXEL, and RDNT perps took place smoothly. The votes completed onchain once quorum was reached at 12:07 UTC.
You can see the explorer transactions for the onchain votes. Here is an example for Infinite Field's vote to delist AI: https://app.hyperliquid.xyz/explorer/tx/0x4f02217e5b489d10152f04215619420203950086a6bbf52294e35f64c650118e
You can see the explorer transactions for the onchain votes. Here is an example for Infinite Field's vote to delist AI: https://app.hyperliquid.xyz/explorer/tx/0x4f02217e5b489d10152f04215619420203950086a6bbf52294e35f64c650118e
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By community request, you can now long or short $PROMPT 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/PROMPT
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/PROMPT
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By community request, you can now long or short $BABY 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/BABY
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/BABY
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By community request, you can now long or short $WCT 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/WCT
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/WCT
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Biweekly update
Trading
+ PAXG, PROMPT, BABY, and WCT perps were listed
+ RLB, HPOS, ORBS, BNT, NTRN, ILV, AI, BADGER, CATI, CYBER, LISTA, PIXEL, and RDNT were delisted
+ The websocket endpoint supports subscribing to realtime (i.e. per-block) BBO changes with the following subscription message: { "type": "bbo", "coin": "<coin>" }
EVM Updates
+ Updated the Docs with more context on the HyperEVM and added a page focused on tools for builders: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperevm, https://hyperliquid.gitbook.io/hyperliquid-docs/hyperevm/tools-for-hyperevm-builders
+ Spot assets are shown as rows in the app.hyperliquid.xyz Balances table if you have a balance for those spot assets on the HyperEVM or HyperCore. Note that the Balances table only displays your balance on HyperCore. This is intended to make it easier for users to transfer from the HyperEVM back to HyperCore Spot.
+ Changes to precompiles on testnet: invalid assets or vault address will return an error and consume all gas passed into the precompile call frame; precompiles have a minor gas cost of 2000 + 65 * output_len; spot balances entryNtl in precompile is now in spot wei instead of converting to perps; token, spot, and perps info precompiles have been added
New Teams Live on EVM (in no particular order)
+ Felix Protocol to borrow against different assets and mint feUSD: https://x.com/felixprotocol/status/1909577010663379151
+ Supurr short-dated options: https://x.com/supurr_app/status/1909647001383223384
+ HyperBeat yield vault: https://x.com/0xHyperBeat/status/1910711119217311949
+ LiquidSwap DEX aggregator: https://x.com/LiquidLaunchHL/status/1911998416391184695
+ Valantis AMM for stHYPE: https://x.com/ValantisLabs/status/1907463828226363598
+ Coretex bridge: https://x.com/Cortex_Protocol/status/1906773369027956760
+ Mintify UETH bridge: https://x.com/Mintify/status/1912185293265912153
+ ZeroDev account abstraction solution for builders on HyperEVM: https://x.com/zerodev_app/status/1909265257287335980
Community Highlights
+ Nest wallet integrated trading on Hyperliquid: https://x.com/nestwalletxyz/status/1904171349012099488
+ Dexari mobile trading app is live for Android: https://x.com/DexariDotCom/status/1907207095725809721
+ pvp has an ongoing trading competition: https://x.com/pvp_dot_trade/status/1910082481790779607
+ Various community events will be hosted in Dubai during Token2049: https://lu.ma/9mk0pssf, https://lu.ma/x9axr5wb?tk=mxte1n, https://lu.ma/a1xxxlfw
+ Hyperliquid KR has a community event in Seoul this Friday: https://lu.ma/s24ijevx, https://x.com/Hyperliquid_KR/status/1909221566757609955
+ https://hyperscan.gas.zip/ HyperEVM explorer now supports internal txns, traces, events, and logs and is looking for contributors: https://x.com/tomkysar/status/1910275506211369349
+ Figment shared a report on Hyperliquid: https://figment.io/insights/hyperliquid-first-look-the-complete-onchain-financial-stack/
Trading
+ PAXG, PROMPT, BABY, and WCT perps were listed
+ RLB, HPOS, ORBS, BNT, NTRN, ILV, AI, BADGER, CATI, CYBER, LISTA, PIXEL, and RDNT were delisted
+ The websocket endpoint supports subscribing to realtime (i.e. per-block) BBO changes with the following subscription message: { "type": "bbo", "coin": "<coin>" }
EVM Updates
+ Updated the Docs with more context on the HyperEVM and added a page focused on tools for builders: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperevm, https://hyperliquid.gitbook.io/hyperliquid-docs/hyperevm/tools-for-hyperevm-builders
+ Spot assets are shown as rows in the app.hyperliquid.xyz Balances table if you have a balance for those spot assets on the HyperEVM or HyperCore. Note that the Balances table only displays your balance on HyperCore. This is intended to make it easier for users to transfer from the HyperEVM back to HyperCore Spot.
+ Changes to precompiles on testnet: invalid assets or vault address will return an error and consume all gas passed into the precompile call frame; precompiles have a minor gas cost of 2000 + 65 * output_len; spot balances entryNtl in precompile is now in spot wei instead of converting to perps; token, spot, and perps info precompiles have been added
New Teams Live on EVM (in no particular order)
+ Felix Protocol to borrow against different assets and mint feUSD: https://x.com/felixprotocol/status/1909577010663379151
+ Supurr short-dated options: https://x.com/supurr_app/status/1909647001383223384
+ HyperBeat yield vault: https://x.com/0xHyperBeat/status/1910711119217311949
+ LiquidSwap DEX aggregator: https://x.com/LiquidLaunchHL/status/1911998416391184695
+ Valantis AMM for stHYPE: https://x.com/ValantisLabs/status/1907463828226363598
+ Coretex bridge: https://x.com/Cortex_Protocol/status/1906773369027956760
+ Mintify UETH bridge: https://x.com/Mintify/status/1912185293265912153
+ ZeroDev account abstraction solution for builders on HyperEVM: https://x.com/zerodev_app/status/1909265257287335980
Community Highlights
+ Nest wallet integrated trading on Hyperliquid: https://x.com/nestwalletxyz/status/1904171349012099488
+ Dexari mobile trading app is live for Android: https://x.com/DexariDotCom/status/1907207095725809721
+ pvp has an ongoing trading competition: https://x.com/pvp_dot_trade/status/1910082481790779607
+ Various community events will be hosted in Dubai during Token2049: https://lu.ma/9mk0pssf, https://lu.ma/x9axr5wb?tk=mxte1n, https://lu.ma/a1xxxlfw
+ Hyperliquid KR has a community event in Seoul this Friday: https://lu.ma/s24ijevx, https://x.com/Hyperliquid_KR/status/1909221566757609955
+ https://hyperscan.gas.zip/ HyperEVM explorer now supports internal txns, traces, events, and logs and is looking for contributors: https://x.com/tomkysar/status/1910275506211369349
+ Figment shared a report on Hyperliquid: https://figment.io/insights/hyperliquid-first-look-the-complete-onchain-financial-stack/
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The validator set has been updated to 21 permissionless nodes. Anyone can register a validator, and the 21 largest by stake form the active set. The Delegation Program is expected to go live shortly.
Technical details for validators: Validators are encouraged to carefully understand the technology and familiarise themselves with testnet before proceeding with mainnet. Note that the self-delegation of 10k HYPE is locked by the protocol for one year. This lockup applies even if a validator is not part of the active set and should be carefully considered before committing the stake. It is strongly recommended to review and apply for the Delegation Program before running a mainnet validator: https://hyperliquid.gitbook.io/hyperliquid-docs/validators/delegation-program.
Technical details for validators: Validators are encouraged to carefully understand the technology and familiarise themselves with testnet before proceeding with mainnet. Note that the self-delegation of 10k HYPE is locked by the protocol for one year. This lockup applies even if a validator is not part of the active set and should be carefully considered before committing the stake. It is strongly recommended to review and apply for the Delegation Program before running a mainnet validator: https://hyperliquid.gitbook.io/hyperliquid-docs/validators/delegation-program.
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By community request, you can now long or short $HYPER (Hyperlane) 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/HYPER
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/HYPER
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By community request, you can now long or short $ZORA 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/ZORA
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/ZORA
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By community request, you can now long or short $INIT 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/INIT
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/INIT
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The new fee system and staking tiers will go live on Monday, May 5 at approximately 03:00 UTC.
To recap, changes include:
+ Staking HYPE lowers trading fees
+ Separate fee schedules for perps vs spot
+ Spot volume counts double toward your fee tier
Staking and trading account linking is now available on testnet. This allows users to apply the staking discounts from one account to a different trading account. This is expected to go live shortly after the new fee system and staking tiers.
For more details on fee changes as well as staking account linking, see the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees#staking-linking
To recap, changes include:
+ Staking HYPE lowers trading fees
+ Separate fee schedules for perps vs spot
+ Spot volume counts double toward your fee tier
Staking and trading account linking is now available on testnet. This allows users to apply the staking discounts from one account to a different trading account. This is expected to go live shortly after the new fee system and staking tiers.
For more details on fee changes as well as staking account linking, see the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees#staking-linking
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Biweekly update
Trading
+ As a reminder, the new fee system and staking tiers will go live on May 5 at approximately 03:00 UTC. Staking and trading account linking is live on testnet. This allows users to apply the staking discounts from one account to a different trading account and is expected to go live on mainnet shortly after the new fee system and staking tiers. For more details see the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees#staking-linking
+ HLP has a fourth component vault to split liquidations among two child vaults, as part of the learnings from JELLY. The illiquid asset liquidator has a stricter tolerance before ADL is triggered.
+ HYPER, ZORA, and INIT perps were listed
Product
+ UI redesign was released. There are some outstanding items to clean up. Appreciate your patience in the meantime and thank you to everyone who caught bugs in the new UI while it was on testnet.
Validators
+ The validator set was updated to 21 permissionless nodes. Anyone can register a validator, and the 21 largest by stake form the active set. The Delegation Program has been gradually rolling out.
EVM Updates
+ Read precompiles are live on the mainnet HyperEVM and allow builders to read state from HyperCore atomically from smart contracts on the HyperEVM. For example, lending protocols could use HyperCore oracle and mark prices as a reliable source of pricing information.
+ For spot assets linked on the HyperEVM, you can click the wallet icon next to the token on the info bar or Balances table to add it to your wallet extension. Clicking on the wallet icon for HYPE will add the HyperEVM as a custom network to your wallet extension. Note that this should work on Rabby and MetaMask, but not reliably on all wallet extensions.
New Teams Live on EVM (in no particular order)
+ Morpho smart contracts, with frontends operated by Felix and HyperBeat: https://x.com/morpholabs/status/1915405407251812787
+ GlueX token swap: https://x.com/GluexProtocol/status/1915089712714559687
+ Garden Finance to swap BTC and USDC from other chains to uBTC on HyperEVM:
https://x.com/garden_finance/status/1913240544307793960
+ Frontend to wrap and unwrap HYPE <> wHYPE: https://www.whype.xyz/
+ Fan App for chatting and trading: https://x.com/fanappX/status/1912899610433266054
Community Highlights
+ Check out various community events in Dubai this week during Token2049: https://lu.ma/9mk0pssf, https://lu.ma/x9axr5wb?tk=mxte1n, https://lu.ma/a1xxxlfw
+ Cypher lets you pay with your Hyperliquid balances at stores worldwide: https://x.com/Cypher_HQ_/status/1914378977634083241
+ Perpflow enables automated delta neutral strategies on Hyperliquid: https://x.com/perpflow/status/1912855014541836761
+ Kirby shared a HyperEVM directory: https://x.com/kirbyongeo/status/1915752654950596795
Trading
+ As a reminder, the new fee system and staking tiers will go live on May 5 at approximately 03:00 UTC. Staking and trading account linking is live on testnet. This allows users to apply the staking discounts from one account to a different trading account and is expected to go live on mainnet shortly after the new fee system and staking tiers. For more details see the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees#staking-linking
+ HLP has a fourth component vault to split liquidations among two child vaults, as part of the learnings from JELLY. The illiquid asset liquidator has a stricter tolerance before ADL is triggered.
+ HYPER, ZORA, and INIT perps were listed
Product
+ UI redesign was released. There are some outstanding items to clean up. Appreciate your patience in the meantime and thank you to everyone who caught bugs in the new UI while it was on testnet.
Validators
+ The validator set was updated to 21 permissionless nodes. Anyone can register a validator, and the 21 largest by stake form the active set. The Delegation Program has been gradually rolling out.
EVM Updates
+ Read precompiles are live on the mainnet HyperEVM and allow builders to read state from HyperCore atomically from smart contracts on the HyperEVM. For example, lending protocols could use HyperCore oracle and mark prices as a reliable source of pricing information.
+ For spot assets linked on the HyperEVM, you can click the wallet icon next to the token on the info bar or Balances table to add it to your wallet extension. Clicking on the wallet icon for HYPE will add the HyperEVM as a custom network to your wallet extension. Note that this should work on Rabby and MetaMask, but not reliably on all wallet extensions.
New Teams Live on EVM (in no particular order)
+ Morpho smart contracts, with frontends operated by Felix and HyperBeat: https://x.com/morpholabs/status/1915405407251812787
+ GlueX token swap: https://x.com/GluexProtocol/status/1915089712714559687
+ Garden Finance to swap BTC and USDC from other chains to uBTC on HyperEVM:
https://x.com/garden_finance/status/1913240544307793960
+ Frontend to wrap and unwrap HYPE <> wHYPE: https://www.whype.xyz/
+ Fan App for chatting and trading: https://x.com/fanappX/status/1912899610433266054
Community Highlights
+ Check out various community events in Dubai this week during Token2049: https://lu.ma/9mk0pssf, https://lu.ma/x9axr5wb?tk=mxte1n, https://lu.ma/a1xxxlfw
+ Cypher lets you pay with your Hyperliquid balances at stores worldwide: https://x.com/Cypher_HQ_/status/1914378977634083241
+ Perpflow enables automated delta neutral strategies on Hyperliquid: https://x.com/perpflow/status/1912855014541836761
+ Kirby shared a HyperEVM directory: https://x.com/kirbyongeo/status/1915752654950596795
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HyperliquidX twitter was compromised. Any new posts or links from the twitter account are fake. Do not click or engage with them. The account is being recovered.
hyperfoundation.org and hyperliquid.xyz are safe.
hyperfoundation.org and hyperliquid.xyz are safe.
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