孤鹤.hl

trade[XYZ] launched its first market on Hyperliquid 381 days ago. Today, we are joining forces with ICE, parent company of the New York Stock Exchange, to bring perpetual futures on Hyperliquid to U.S. regulated markets. I don’t usually write long posts, but today merits reflection. For years, builders across this industry have worked to show that open, onchain markets could support price discovery, manage risk, and withstand stress to the standards of traditional market infrastructure, all while staying open when and where those markets aren’t. Our achievements stand on the shoulders of those builders. And today, the company that owns the New York Stock Exchange has chosen to build upon the work of every developer, trader, market maker, and user who took a chance on us and our markets. We share this moment with all of you. Markets are shaped by their participants. A new generation of investors trades from their phones, across asset classes, at any hour of any day. Until Hyperliquid, the right infrastructure for those markets didn’t exist. Building these markets was hard. It took novel approaches to pricing, funding, and risk, refined with real capital at stake, in markets that don’t close. It also meant earning the trust of the people trading on them. We’re honored that the community recognized that effort and responded in kind. That trust is what allowed us to grow our volumes to a ~$1 trillion annualized run rate in just over a year, to help pioneer new instruments like pre-IPO perps, and to earn the confidence of storied institutions like S&P Dow Jones Indices. That’s why ICE has chosen trade[XYZ] as its exclusive partner to bring 24/7 perps to the U.S. Shifts in technology have pushed markets toward greater transparency, better price discovery, and broader access: from the coffee house to the curb exchange, ticker tape to the telephone, the trading floor to digital exchanges. ICE helped write that last chapter. In 1997, Jeff Sprecher bought a small power-trading technology business for $1. ICE launched as an electronic energy marketplace in 2000, helped digitize major commodity markets, and acquired the NYSE in 2013. It has grown exponentially because of this appetite for innovation. That’s the partner we wanted: a partner that looks forward and embraces progress. Americans deserve access to the most innovative markets in the world, and the protections of U.S. regulation. With trade[XYZ] and ICE, subject to regulatory approvals, they’ll have both. The difference isn’t just access. Perps don’t expire, so traders never have to roll positions, and liquidity concentrates in a single deep market for each asset. Cross-margining enhances capital efficiency by letting one pool of collateral back positions across stocks, commodities, and crypto. Underpinning it all are atomic clearing and settlement, real-time risk management that enables continuous markets, and universally applied rules that anyone can verify. This is the next chapter we’ll write together. My responsibility, our responsibility, is to now build markets worthy of the confidence our partners and our users have placed in us. Our commitments will not waver: to fair and transparent markets, to diverse markets, to low costs of execution, and above all, to market integrity. All of this in pursuit of one thing: A universal exchange, open around the clock, coming to the United States. We’re proud to have deployed more than 100 markets on trade[XYZ]. But measured against the opportunity ahead, we’ve barely started. There is an enormous universe of assets we haven’t reached, alongside things people want to trade that have no established market at all. Wherever there is demand to trade an asset, we want trade[XYZ] to be where its price is discovered. Global stocks, commodities, bonds, pre-IPO companies, compute, new indices, digital assets, interest rates, equity baskets, volatility products, alt assets… Anything. Anytime. Anywhere. Ultimately, everything you own should work with everything you trade. Picture a headline breaking on Saturday night. You should be able to post tokenized shares as collateral, hedge your portfolio with an index perp, add exposure to oil, and take a view on a company that has not yet gone public. All in one account, all on one risk engine, before any traditional market opens. trade[XYZ] and Hyperliquid were built for this. I hope someone opens their first investment account years from now to find that trivial, and to wonder why their predecessors needed so many separate financial relationships. Getting there will take liquidity, reliability, trust, and prices people have reason to believe. It will take years. I’m prepared to spend them. Finally, a few thank yous. First to the XYZ team: For the tireless nights and for committing to this vision before it was obvious. To Jeff Sprecher and ICE, with special thanks to Michael Blaugrund and Trabue Bland who championed us throughout: You’re a world-class, technology-embracing team that proves innovation and scale are in fact not at odds. To Stan Druckenmiller: For your partnership and helping us turn the next page. To Hyperliquid Labs: For being the best partners we could ask for. You set an impossible standard, one we continually strive to meet. @chameleon_jeff, @iliensinc, @xulian_hl And most importantly, to our users: You traded these markets when no one thought it mattered. Guess what? It did.

梳理了一下西班牙火车追尾事故： 1/ 事情的起因是 LZB 系统（可以理解为计算机控制的自动安全系统）故障，LZB已经是大约40-50年前的系统了，问题一直很多，铁路系统也正在更换新一代系统，但还没完成。 当LZB故障时，受影响路段的车辆强制停车，并且转由Adif进行调度，也就是人工调度 2/ 在这个事件中，LZB发生了故障，受影响路段中的6辆火车停了下来。 其中包括最前面的Lryo，可以理解为私铁慢车，和后面的Renfe，可以理解为国铁快车 随后Adif通知了所有车辆按照正常速度行驶 这里Adif 犯了第一个错误，因为按照规定，在这种情况下要遵循目视规则，时速不能超过40km/小时，确保出现意外情况时能手动完成刹车 在Adif发出这个指令后，另一量Renfe 列车司机指出了他的错误，并按照目视规则以40km/h速度行驶 但Adif没有纠正指令，从录音看，事故 Renfe 车辆司机的回复略带疑问：（以正常速度？），但他仍然按照指令以超过100km/h的速度行驶，途中检测到了145km/h的数据 3/ 初始状态下，两车相距29km，从启动到撞击一共17分钟 首先Lryo收到重新启动指令的时候是不确定的，有可能Renfe启动以后他仍然没有收到Adif的指令 但从后来泄露的录音看，至少在离撞击还有5分钟的时候，Lryo向Adif报告了，自己无法启动 （PS：Lryo和Renfe是由Adif的两个不同工作人员引导） 尽管如此，这五分钟Adif没有通知renfe减速或者刹车。另外17分钟内，Adif是可以看到Renfe正在接近而Lryo保持静止 最终Renfe以100km/h以上的速度前进直至看到Lyro，但此时手动刹车已经无法避免撞击 总的来说就是 LZB故障 + Adif 严重失职 + Renfe列车违规操作叠加，导致了这场悲剧 R.I.P.

领养第8只 @Hypurr ，不考虑稀有度的话，我再买23只就能追随上 @NMTD8 老板的脚步了。

东鹏特饮慌得一批。此前重金签约姆巴佩，代言补水啦广告的东鹏饮料，在姆巴佩上 X 事件出来后，仅不到 24 小时，其签约合作公司东鹏，终止其全部合作。 以后老哥在中文市场，大概率彻底无了，也很好奇以后实况足球，怎么解说。

Payward, the parent company of Kraken, announced its intention to be the first CFTC-regulated deployer on HIP-3* markets. Payward will use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US clients. Subject to regulatory approval, Bitnomial, Payward’s CFTC-regulated DCM and DCO, would act as the HIP-3* deployer: creating, owning, and administering the markets and clearing and settling the contracts. If approved, NinjaTrader Clearing, Payward’s CFTC-registered FCM, would carry client accounts. HIP-3 will support optional deployer configuration for permissioned markets in a future network upgrade. This set of additional deployer functionality is collectively called HIP-3*. At its core, HIP-3* activation involves an onchain allowlist managed by the deployer or its sub-deployers. The functionality is strictly additive to HIP-3; its use is optional and up to the deployer. Existing markets remain unchanged. The initial release is available on testnet, where specifications are preliminary and subject to change based on feedback. Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. HIP-3* gives deployers additional functionality to operate deployments consistent with the requirements applicable to them. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.

📢 @Pumpfun is now live on X Layer. Users can discover, deposit and trade X Layer assets directly through Pump.fun across web and mobile. More ways to access onchain markets, all within a growing ecosystem.

我们将在下周推出新一期闪赚 Lite！ 10月28日 15:00 至 11月3日 15:00（UTC+8），使用 BTC、ETH、OKB、CT 申购，瓜分1,000,000 $CT 奖励，明天下午开放预申购。 🎁三连此推，抽5位用户享本期质押等级+1，更高申购额度，10.27开奖~

一天下来总结下，充进去1068，落袋了8478，提现到账还是比较快的。 剩了2000利润在里面，想继续刷交易量，结果没几下就给我亏完了，虽然劝大家风控，但我个人是喜欢激进打法的，毕竟合约20x开习惯了，赌性坚强。 这一天下来搞了100k交易量，空投是按3%庄家优势加权计算的，我玩的dice骰子一般是1%的庄家优势，所以权重是33%，加上创世纪分10%大家都有（用链接还有额外的10%加成，reroll.gg/?r=GUHE ），最终拿下37000分，目前是榜一。 总量10亿币，第一季空投2亿币，其中第一个里程碑是加权交易量100万，今天一天下来就十来万了，所以估计十来天就能到。 第一个里程碑对应25M REROLL份额，也就是每1刀加权交易量能拿25个reroll，在小额多笔，趋近概率的前提下，稳定磨损3%费率，1刀加权交易量的成本是0.03u，这个盈亏比还是很好的，对应token价格是0.0012u，也就是1.2m的估值，确实是不算贵。 所以目前我发现榜单上第四名这个peepooman就在刷分，自动交易了17000笔，平均的下注额才1.6u，打法还是很聪明的。 当然不得不说，整个hyperevm的估值体系比较务实，比如kntq87m的市值，nest33m的估值。 所以咱们可以参考同赛道项目，简单算一下项目成熟以后，积分价值的盈亏比，如果能达到yolo当时高位的73m fdv，就是单价0.073u，就有60x，要是未来可以达到rlb目前的fdv就是0.12u的单价，能有100x，我还是很看好的。

Hyperliquid 政策中心回了 CFTC 关于 compute 衍生品征询——主张 GPU 小时租金和 AI 推理成本可以做期货与永续合约。 新时代，新的石油永续合约 🥷 ... HIP-3 的发挥空间不可限量，HIP-4 still early，HyperEVM 还在 pre-early。