Variational's founder said the trading API goes public this month. Whitelisted alpha testers have had it since Nov 4
Checked today: the docs still say it's not available to any users, and the site has no API key page yet. My guess is the last week of November, when they said the bigger news starts
Once bots can trade through it, they're farming the same weekly points as everyone else. Ref right below if you want in before that
1
13
948
Their docs as of today. Alpha testers already have it per the founder, the docs just haven't caught up
1
80
Yesterday I said the burn won't soak up the KNTQ unlocks. Elysium's stats page has real numbers now
~$12K in fees over the last 7 days. Half buys KNTQ, so ~$6K a week at most. From Nov 27, ~$1.1M of KNTQ unlocks every week
That's about half a percent covered. KNTQ is -25% today at $0.37
Elysium goes live tomorrow, but the KNTQ date I'd mark is Nov 27
kinetiq:native is ~$0.50, $160M mcap, $500M FDV. On Nov 27 the team and investor cliff ends and ~12.9M KNTQ unlock every month for 2 years, ~$6.5M a month at today's price
Kinetiq buys back ~$130K of KNTQ a month right now. Elysium adds half its sequencer fees on top. Base-size Elysium covers ~20% of the unlocks, Arbitrum-size ~6%. Covering all of it takes ~$425K a day in fees, 5x Base
IMO the burn alone won't soak that up, Elysium has to bring actual buyers
1
93
Today is way busier: 1.7M txs so far and 52K active accounts vs 29K yesterday. But even 10x last week's fees covers ~5% of the unlocks. Covering all of it takes ~$315K a day in fees
1
9
I suggest we all take a little break from the news about Nvidia and Jensen Huang.
Me and 31,958 other accounts splitting 150K Variational points a week lol
But seriously, I first wrote about Lighter in April 2025 and about Variational last November at ~$70M TVL in closed beta. It's at $269M now
The one I'd farm the same way today is RISEx. 200K points a week across ~6,700 accounts, so ~30 per account vs ~5 on Variational, and every RISE point goes to RISEx users
My guess is it gets as crowded as Variational before the season ends in Q2, so the cheap points are now
2
2
259
Not a trader? The XLP vault does RISEx's market making and liquidations: 17.21% APR, +26% since April, $1.28M PnL, and LPs get RISE points too. It's capped at $5M and full right now, so watch for the next cap raise
1
26
RISEx is invite-only, so this link is the invite. You get nothing extra from it, I get 10% of your points: rise.trade/invite/liwikruk
code - liwikruk (15% points boost)
21
You can see that hedging side on-chain btw
On Nov 5 the OLP vault sent $30M to a Binance deposit address. It's used that route since December, ~$119M over 32 transfers, and $30M was the biggest by 3x
That's most of why TVL dropped ~$24M that day, it wasn't mainly users leaving
As OLP continues to improve its hedging infrastructure and it's set of liquidity partnerships expands, open interest limits will continue to rise.
If you previously had a trade on TradFi perps hitting OI limits, give it another try!
1
116
OLP vault 0x74bBBb0E7F0bAd6938509Dd4B556a39A4Db1F2Cd (Arbiscan: Variational Core OLP Vault) → 0x296321a65b592a73a513954c53c21ef55113706c (funded by Binance: Deposit Funder 1) → Binance 129, 10 min later
arbiscan.io/tx/0xa4cd7572fa9…
69
Checked this wallet again, it kept building after this post
Now $20M long BTC and $20M short ETH, both 20x, on ~$6.9M deposited. So whoever this is didn't just cash out the Tornado ETH, they're running a $40M bet that ETH keeps losing to BTC
Liquidation is ~31% away on both legs
1
3
117
Timeline from Hyperliquid's API: $100 test at 17:01 UTC yesterday, a 0.011 BTC test buy at 17:04, $6.92M in at 17:20, then TWAPs on both legs until 06:07 UTC today. Entries $75,783 BTC / $2,234 ETH, up ~$30K so far
1
1
53
The wallet from Lookonchain's post last night: nitter.gq/lookonchain/status/211…
A hacker is going long $BTC and short $ETH!
A newly created wallet received 3,100 $ETH from #TornadoCash, sold it for 6.92M $USDC, and deposited the funds into Hyperliquid.
Then opened a 20x long on 169.47 $BTC ($12.84M) and a 20x short on 5,740 $ETH ($12.83M).
hypurrscan.io/address/0x45d7…
11