Hyperliquid Extremist Perp dex maxi TxFlow 5 % fee discount: TXNIZZY RiseX (17.5% points boost): nikzzy CEO of @zenithfinance_ Just a web3 enjoyer.
Hyperliquid
Joined December 2019
- Tweets6.3K
- Following1.6K
- Followers456
- Likes13.4K
Pinned Tweet
Community Exclusive Trading Challenge on TxFlow,
up to 18,888 USDC in Cash Rewards!
Campaign Period: Oct 21, 5:30 – Oct 31, 23:59 UTC
Campaign page: app.txflow.com/campaign/kol-…
More volume -> more rewards for everybody
Join the competition with: app.txflow.com/r/TXNIKZZY
gFlow💚
bro is now fuding Variational lmao, first TxFlow and now Variational 😭
On Variational you can't withdraw your own funds permissionlessly
Read their contracts. As far as I can tell:
- Collateral sits in per-user usdc pools on arbitrum, ~$224m across ~208k pools
- You can deposit into your pool but you can't withdraw from it yourself. Every withdrawal goes through their oracle contract and only addresses with PROVIDER_ROLE can trigger it
- 17 addresses have that role, 16 of them plain wallets (EOAs). as far as i can read the code, any one of them can move usdc out of any pool on its own, and the contracts don't cap the amount
- The admin that hands out these roles and can pause the oracle is a single EOA: 0x8e4d1ad423e4f37600cda314fd3d99629ceaeabf. role changes take effect immediately
- Docs describe the olp vault as "a smart contract where the capital that powers OLP (USDC) is secured". the address they list for it, 0x74bbbb0e7f0bad6938509dd4b556a39a4db1f2cd, has no code. It's an EOA
- the protocol treasury, 0x5e91b40467fb8902c46a7b6cb90482363188d645 (~$12m usdc), is one of the 17 provider keys
Docs say the keys live on fireblocks. If there are policies on them (limits, quorum) that answers most of this, but none of it is visible onchain
@variational_io how is the admin key secured, do provider keys have limits, and how does a user get funds out if your backend is down?
Correct me if I'm wrong
bro, that guy doesnt even know how cross margin works, he had two more open positions thats why he got liquidated
Here's where the rest of his margin went
On Hyperliquid your position goes to the book first and you keep whatever is left. On TxFlow it goes straight to their own vault at the bankruptcy price
In the same seven months TxFlow's liquidators made $408k. Hyperliquid's, on a venue hundreds of times bigger, were down $1.5M
You can't check the exact number. Their API only shows the last 300 trades, the rest is locked, and there's no node you can run
The vault is "community-owned". One address owns 57% of it. They said the liquidation logic is "ours". It is
do you know how cross margin works? lmao, before blaming the platform learn how margin works...
Pls avoid Txflow.
A total of $24k usd with $11k usd liquidated just now.
Price feed was fine. I even added another $4k usd liquidity.
However, out of the blue, I experienced margin call.
If there was a spike down, I understand. But there wasn’t.
If the platform is lagging, that is not acceptable. That is misinformation.
I had the exact trade call with variational but there was nothing wrong.
Fix your buggy platform:
@matthubuilds @Harry_TxFlow
This will be the last time touching this platform. Let’s stop the flow.
before blaming the platform atleast learn how cross margin works lmao
„Price feed was fine… I even added another $4k usd liquidity… out of the blue… If there was a spike down, I understand. But there wasn’t.”
On the chart he posted you can see green arrows – he was adding to positions on the way down. At the same time ETH and ARB were dumping harder than BTC, and everything was in one cross margin account. The shared margin ran out and the account got liquidated.
This wasn’t a lag and it wasn’t “out of the blue.” That’s exactly how cross margin works. The liquidation price isn’t fixed because all positions share the same margin pool. If you don’t understand that, better stay away from cross.
And if you do get liquidated, don’t blame the platform. 😬
never sell your Hypurr
The same wallet that bought 13 Hypurr NFTs this morning has just sold 8 of them.
📉 Realized loss: 122 HYPE.
💸 Selling fees: 3 HYPE per NFT, another 24 HYPE.
Total: 146 HYPE lost in just a few hours.
Crypto never ceases to amaze me.
#Hypurr
