“Regulated firms now have a template for running Hyperliquid markets as their own: a registered exchange deploys the market, a registered broker carries the client, and HyperCore does the matching, margining and liquidation. Payward is the first to commit to it, but we do not expect it to be the last.”
A must read. Well done @HansonBirringer
Motus retweeted
1/ Welcome to Hyperliquid, your new home to trade perps on DeFi🌟
Hyperliquid is an order book based perpetual futures decentralized exchange. The DEX runs on the Hyperliquid chain, an L1 built on Tendermint that enables full transparency, low costs, and impeccable execution.
Motus retweeted
HIP-3 deployers are currently in Growth Mode, which means trading fees are discounted by 90%. The next network upgrade will bring changes:
1) HIP-3 fees will be adjustable with a granularity of 90% discount to being 3x more expensive
2) Adjustable on a ticker basis
Hyperliquid
Motus retweeted
Well, tomorrow's the day for solana:gf9VEb8NqCUgCNNo1sz47LT4gvUvsHJmhW6Q1ndpump - Asia's biggest IPO of 2026, priced at ¥8.66 (~$1.28) on Shanghai's STAR Market. @HyperliquidX has had it at $6-7 for two straight weeks.
My call here is different from @SpaceX and @cerebras , so let me be precise.
I expect it to open well above ¥8.66. I do NOT expect it to reach the Hyperliquid price - and I don't think it should.
That gap isn't purely a valuation call. You need RMB 500k in a mainland account to buy a STAR Market IPO, and offshore money was shut out of the book entirely. HL isn't competing with a market global investors can access. It IS the access.
So I expect a premium to persist after listing. That premium is the price of admission - what someone outside the mainland pays for exposure they otherwise cannot get at all.
One thing changes tomorrow. Pre-IPO these contracts run a funding multiplier of 0.005 - basically free to hold a big premium. On conversion @tradexyz flips them to the standard 0.5 against the real Shanghai price. That's 100x the carry, overnight.
So: sharp compression, but not to zero. Where it settles is the market's honest price on access. SK Hynix's ADR settled ~15%. China's A/H premium has run 20-50% for years.
That's the number I'll be watching tomorrow. Not the pop.
And zoom out - because in ten weeks Hyperliquid has taken on two of the biggest structural problems in capital markets of the last 50 years:
1. IPOs priced below clearing, moving value out of issuers and their existing shareholders and into the pockets of the buyside.
2. The world's second-largest equity market being effectively closed to everyone outside of it.
Same venue. Same mechanism. Continuous price discovery, open to anyone.
@HypeStrat $PURR #pricediscovery
Excited to be a part of this.
Hyperliquid 🫡
I am proud to publicly announce Hyper Holdings Global @HyperHoldings today. We are a consortium of investors, institutions and entrepreneurs with a mission to bridge the gap between legacy finance and the Hyperliquid ecosystem.
The first step towards this is in our strategic alignment with @Grayscale as they launch their Grayscale Hyperliquid Staking ETF $HYPG. For over a decade, Grayscale has been a pioneer of digital assets within the traditional financial system and has some of the deepest ties with US regulators and policymakers. They established the first publicly-quoted Bitcoin fund and secured the legal precedent that opened the door to spot crypto ETPs.
They have consistently used their positioning to protect and promote crypto, and now are helping shape policy and educate investors that will directly impact Hyperliquid's future.
$HYPG serves as an on ramp to bring serious, long term capital into the Hyperliquid ecosystem. This represents a historical moment in HYPE’s history and we are proud to be a part of this launch with Grayscale.
I want to thank every investor of this initiative and appreciate their patience and coordination as we worked to make this a success over the last several weeks. I am pleased to be joined by @multicoin, @hypurrdash, @MotusAk and other strategic individuals from around the world as we kick things off.
This is just the beginning. More to come soon.
Hyperliquid
Motus retweeted
Today we’re expanding our support for @HyperliquidX by becoming the platform’s official treasury deployer of USDC.
Onchain markets operate 24/7 and require collateral that is always available, instantly transferable, and deeply liquid - USDC delivers exactly that.
Alongside this, we’ve also significantly increased our position of staked HYPE.
Built different.
Hyperliquid.
teapawt.net/WSJmarkets/status/2034…
The owner of the S&P 500 index is licensing the world’s most tracked stock index for the launch of a derivative contract that trades around the clock on the crypto exchange Hyperliquid on.wsj.com/4bezxK0
Check out @CIG_Crypto 4Q25 report. Thank you for inviting us to contribute!
CIG’s 4Q25 Digital Asset Fund Outlook Magazine is officially live!
This quarter, leading fund managers and allocators provided long-form views on the industry's most pressing buyside topics.
Access the full report here: cryptoinsightsgroup.com/insi…
Proud to support strong teams building novel products for the good of @HyperliquidX and beyond
Phase 0 is now complete
Thank you to Angels @laurentzeimes, @NMTD8, @wclemente, @lukecannon727, @MotusCM & @janklimo
Phase 1: @PiPonHL and friends begins in 25 minutes
Stake $HYPE, get $LHYPE, providing best-in-class staking yield and exposure to top protocols across @HyperliquidX such as @hyperlendx @felixprotocol @HypurrFi @kinetiq_xyz @stakedhype and $LOOP
stakingrewards.com/stake-app…
Motus is excited to co-sponsor this community hackathon and support the next era of @HyperliquidX builders. Feel free to reach out ahead of time, our DMs are open.
Motus retweeted
4/ Frank Cavallo of @MotusCM is interested in the growth of the HyperEVM.
Many following Hyperliquid are focused on the growth of its market share in perps trading. Indeed, fees from perps trading are the largest driver of $HYPE’s current valuation, as they’re the primary driver of protocol buybacks.
However, equally important to $HYPE’s future valuation is whether the market perceives it as “just another perp DEX” versus a viable competitor to other L1s.
Accordingly, in addition to tracking flows on HyperCore, tracking growth of the HyperEVM will help dictate whether $HYPE ultimately trades at DEX multiples versus [much higher] L1 multiples.
Motus retweeted
1/ We asked five liquid funds to share “the most interesting chart in crypto right now” - and why it matters.
👇🏼👀
Motus retweeted
However, it has been "all so tiresome" the past 18 months for people in and out of crypto. so no one is reacting to obvious positives
Watching it every day causes frustration it's not playing out, but it will be obvious in hindsight when the market starts to move higher. 2/2
Motus retweeted
A remarkable ruling. Yet another court holds that @SECGov was arbitrary and capricious. Yet another court holds that @SECGov defied Congress' will. Yet another court holds that @SECGov violated the law.
DEALER RULE STRUCK DOWN! SEC exceeded its statutory authority. HUGE win for the entire industry @BlockchainAssn and @CryptoFreedomTX !!!
