long degeneracy , hype WILL win , ¶
Hyperliquid
Joined October 2018
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bliquidc.hl 🌊 retweeted
as papertrade reaches its first month live, what started as a whitepaper continues to be tested at scale in production. today's update is another step towards what i think is the house of the future. i want to extend my sincerest thanks to everyone whos participation has helped make this new primitive possible.
while we continue to take each day one at a time, incentivized composable liquidity is a very exciting design arena. some things we're working on are probably obvious - like the option to pay gas manually to avoid onchain congestion. others well just put out when they're ready.
good luck to us.
Five contract level upgrades have been pushed to the timelock. The non-atomic nature of hyperliquid core and EVM blocks, along with the still broadly un-battletested precompiles necessitates extensive, heavy testing as the design patterns papertrade employs are unusual to see in solidity. Papertrade, by its nature is a risk on protocol. But when it comes to striking a balance between speed and security, security will always remain paramount, particularly when it comes to production contract changes.
Core lending:
The Exchange will now be able to supply idle USDC to HyperCore's native lending market, with the accruing interest being routed to stakers.
Collectibles:
A factory plus per-collection ERC-721 contracts for exchange collectibles and themes.
Staked PAPER transfer module:
PaperStaking gains a whitelist of transfer enabled contracts, along with contract level yield piping. This code is unused for now but will be necessary for future updates.
Sweep timing fix:
HyperEVM big blocks share a timestamp with a preceding small block. Whilst never triggered in production this could cause an ill-timed deposit sweep to fail and so the contract level timing checks are switching to block numbers rather than timestamps.
Direct LP donation:
A new admin locked donateToLp call moves USDC from a designated donor account into the LP's cash, providing a clean path for regulating externally held USDC back into the LP.
At some point we will likely write up a blog on our retrospective of the first month of papertrade, but we are few and there are only so many hours in a day or hats a man can wear.
A final quick thank you to those who helped out with adversarial testing, game theory and the general math that went into last month's upgrade, you know who you are. To those who are still confused -- often boisterously so, we thank you for sticking around for long enough to show you care.
good luck to us.
bliquidc.hl 🌊 retweeted
Pearl doesn't mine hashes. It mines matrix multiplication.
That's the same math every LLM uses to train and to answer a prompt, per Evan Van Ness on The Rollup.
"Pearl is mining via arbitrary matrix multiplication, which is what every AI model, every LLM, every machine learning… uses."
The pitch: turn the work GPUs already do for AI into the work that secures a chain.
FT @evan_van_ness @prlnet @therollupco @andyyy
bliquidc.hl 🌊 retweeted
@HyperliquidX perps are live on @Bitso.
Bitso users can trade 200+ Hyperliquid perpetual markets from the Bitso Alpha interface, tapping into Hyperliquid and funded straight from their Bitso account.
Crypto, the S&P 500, gold and FX. Long or short, up to 50x depending on the market. 24/7, no expiry, and every order, fill and liquidation verifiable on Hyperliquid's onchain order book.
Live today.
#BitsoPerps
bliquidc.hl 🌊 retweeted
what if on:
> robinhood chain you could access robinhood options/spot liquidity
> binance chain you could access binance perps/spot liquidity
> base chain you could access coinbase perp/spot liquidity
the above is fundamentally, technically, and legally impossible, therefore:
On Elysium, being built on top of Hyperliquid, fixes this entirely
bliquidc.hl 🌊 retweeted
I explain why Pearl @prlnet is the only GPU-mined coin with a real shot at outgrowing Bitcoin
"Overhead is the entire ballgame"
"There are plenty of other GPU mined coins, but typically what's happening is that your GPU is using all of its computing resources to mine, and that's still the only revenue stream. What Pearl is building here is making GPUs more efficient"
"What separates Pearl from other GPU mine coins is that it's still the only one that has a shot at getting adopted by AI labs and inference clusters. Do any of those GPU mine coins have an actual shot at building out a larger electrical footprint than Bitcoin? No way"
"If they actually get penetration into the largest CapEx build out in human history and the fastest growing industry in human history, then yeah, it has actually a credible shot at becoming a larger network than Bitcoin. And that's why it's an interesting investment even without the useful work"
Why Pearl will Win
––––––––––––––––––
01:14 BTC is dying
03:24 Breaking up with my highschool girlfriend
06:51 Why it can work
09:35 Pearl's power footprint
12:45 AI capex > asic capex
15:00 FP8
19:00 Negative overhead
22:04 Elite team
23:06 Hashrate = hinge profile height
28:01 AI lab adoption
30:48 I want my MTV
32:31 Mark Knopfler shreds on guitar
35:52 Useful work vs Duplex work
38:32 Cheap verification is required for money
41:20 Can Pearl close the loop?
45:17 Addressing fundraise FUD
51:21 Risks
1:06:27 Pearl wins by becoming multi-denominational religion
bliquidc.hl 🌊 retweeted
Elysium mainnet is now live.
elysium.kinetiq.xyz
bliquidc.hl 🌊 retweeted
what if there's only one option?
teapawt.net/therollupco/status/211…
NEW: Evan Van Ness On Why Pearl Could Be Bigger Than Bitcoin
Evan breaks down how useful-work mining could change data center economics, the flywheel behind cheaper inference, and why he believes the biggest opportunity is still ahead.
@evan_van_ness @andyyy @robbieklages
00:00 Intro
01:21 Pearl Could Be Bigger Than Bitcoin
03:47 Bitcoin's Ossification And Security Budget Problem
06:36 Everyone Wanted Proof Of Work Useful
08:51 Pearl Mines Through Matrix Multiplication
11:00 Near Zero Overhead Mining Alongside Inference
15:41 Pearl's Useful Work Is Under 1%
17:49 Everything Useless Must Become Useful Work
20:20 A Pearl Flywheel For Cheaper Inference
24:21 Midterms Threaten Data Center Buildouts
27:40 Frontier Labs Already Know About Pearl
31:00 Pearl At 3.7B FDV Versus Bitcoin
35:20 A Pearl Fork Aimed At Payments
kinetiq:native market cap is still at 136m
If you guys are searching for the main runner on @Enter_Elysium you already know what to bet
$KNTQ is the ticker
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Data center that are not mining $PEARL is just leaving free money on the table
Datacenter bans or slowdowns (if taken place at all) should magnify the chip supply shortage, increasing pricing power?
Also, limits on financing due to debt market stress should prove beneficial for the alternative compute financing protocols like Pearl are aiming to provide
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bliquidc.hl 🌊 retweeted
Ansem shares his long-term thesis on Pearl ($PEARL), dubbed as "AI Bitcoin," and why it could hit escape velocity
“Pearl high risk for sure, but what they're trying to do is be a form of hard money in the same way that Zcash ($ZEC) is trying to be a form of hard money.”
“But their entire thesis is that instead of just doing proof of work where the work that you're doing isn't worth anything, it's just electricity cost, compute cost.”
"The compute that you use to mine Pearl can also be used for all the AI inference matrix multiplications that you need whenever you're doing inference.”
“They call it 'useful work' when you're mining Pearl, where you can also make money by serving that inference to people.”
“And that does make sense as a thesis if you think how much compute we're going to be using over time is going to continue to go up.”
“Pearl could hit escape velocity as being a hard form of money, 'AI Bitcoin' is what they call it.”
Someone just clear all the ask on $PEARL
There is not enough PEARL for everyone
Pearly
Usefulness is subjective , but duplex work is objective.
Read @brezshares thesis multiple times and you will get it
You should read my thesis. Yes the protocol accepts random matrices and this is already well understood. But there is game theory to prevent this long term. That paper misunderstands the design philosophy teapawt.net/brezshares/status/2098…
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