News linked to both this project and an event.
According to a comment letter submitted by the Hyperliquid Policy Center (HPC) to the U.S. Securities and Exchange Commission (SEC) on October 19, the HPC generally supports the SEC's proposed Crypto Asset Regulation (File No. S7-2026-27) and urges its prompt adoption. The proposal includes a $5 million startup exemption (four-year term), a $75 million fundraising exemption (per 12 months), a safe harbor for investment contracts, and state-level advance applicability provisions for "qualified purchasers." The HPC also puts forward five recommendations: 1. Airdrops: Incorporate airdrop analysis into the final rule text and use "clear and specific consideration" as the criterion for determining a "monetary investment"; 2. Secondary Markets: Clarify the status of secondary market trading and intermediaries, enabling assets issued under exemptions to trade immediately outside the registration framework, and recommend exempting relevant trades and platform determinations under Section 36 of the Exchange Act; 3. Safe Harbor: Its use should not be construed as an admission that an investment contract or issuer status exists, and protections should extend through the period during which key management tasks are being performed; 4. Buybacks: Incorporate the SEC Division of Corporate Financing's recent buyback guidance into the rules, standardize the "central party" concept, and distinguish between programmatic buybacks and discretionary buybacks; 5. Federal Advance Applicability: Issuers meeting safe harbor conditions may opt out of reporting obligations or adopt a simplified annual certification to avoid state regulatory intervention. The HPC stated that without the aforementioned adjustments, the actual
Odaily Report: Spencer Applebaum, General Partner and Co-Head of Venture Investments at Multicoin Capital, said that Multicoin Capital manages $2.7 billion in assets, will not follow institutions such as Paradigm in expanding its investment scope into AI and robotics, and will continue to focus on the digital asset sector. Regarding the "crypto + AI" concept, Applebaum said that some investors are looking for problems at the intersection of crypto and AI that do not actually exist. In response to the slowdown in capital deployment, he said that in 2023, most seed-round projects had post-money valuations of about $30 million and raised about $3 million, and that using a $422 million fund to invest in such rounds requires more time. In addition, the largest position of Multicoin Capital's hedge fund is the Hyperliquid-related token HYPE, all of which was purchased through the public market; the firm typically holds publicly traded assets for several years.
The Hyperliquid Policy Council (HPC) stated that it has submitted a comment letter to the U.S. SEC supporting its proposed Regulation Crypto Assets, and recommended five adjustments in the final rules to further clarify regulatory boundaries for token issuances, airdrops, secondary market trading, and safe harbors.
据官方消息，Hyperliquid 生态的首个 L2 网络 Elysium 将于 11 月 9 日正式上线主网。Elysium 专为 Hyperliquid 构建，基于 HyperEVM 结算并与 HyperCore 共置，采用 HYPE 作为原生燃料代币（Gas）。该网络运行 Conduit 的 G2 排序器，底层架构符合 SOC II Type 2 安全标准。
Odaily reports: Meta Chief AI Officer Alexandr Wang posted a photo with Hyperliquid founder Jeff and Cognition founder Scott Wu, all of whom were once HRT interns. Bitwise CEO Hunter Horsley noted that HRT's two co-founders, Alex Morcos and Suhas Daftuar, founded Chaincode Labs in 2014. The organization is located in Midtown Manhattan, New York, and is dedicated to advancing the Bitcoin network and providing resources for independent innovators in the Bitcoin ecosystem.
Odaily reports: Ripple's institutional brokerage business Ripple Prime has launched real-world asset (RWA) perpetual swaps, offering institutional clients continuous trading across more than 100 reference markets including individual equities, equity indices, ETFs, metals, energy, and foreign exchange. Ripple Prime acts as counterparty for these trades, with pricing referenced to perpetual contracts listed by Trade.xyz on the decentralized derivatives platform Hyperliquid, and does not involve ownership of the underlying assets or physical settlement. Clients can cross-margin related positions with other assets on the platform, and eligible clients may use RLUSD as collateral; market maker Virtu is among the early users. The business is currently offered under a British Virgin Islands license and plans to expand to more regions.
Odaily reports: Paragon announced on X platform that the Papertrade (PAPER) perpetual contract has launched on the Hyperliquid HIP-3 market, supporting up to 3x leverage. The PAPER price is currently at $0.012, with contract open interest at only approximately $30,000.Previously, Paragon spent 570.98 HYPE (approximately $45,000) to acquire the PAPER ticker.
Hyperliquid has announced adjustments to its write priority fees rules, with the changes now live on testnet, primarily affecting latency-sensitive trading users. The new rules include:Mempool priority applies only to Standard abstraction;Aside from cancellations, order placements, and order modifications, other HyperCore operations will cause the relevant account's operations to be downgraded before confirmation;Users who have previously sent CoreWriter operations directly will have their mempool priority lowered;Additionally, using IOC and ALO priority fees requires holding at least 10 HYPE in delegatable balance.
According to Onchain Lens monitoring, a Hyperliquid trader's account address has been published. Previously, the trader held a TSLA short position worth $4.25 million for 1 day, making a profit of $241,700, a gain of 21.5%; the SKHX short position profited $1.34 million, the NBIS short position profited $1.17 million, the SPXC short position profited $552,400, and the XYZ100 short position profited $498,100; total unrealized profit was $3.65 million, with cumulative historical losses of $217,600.
According to data monitored by on-chain analytics platform Lookonchain (@lookonchain), on the launch day of papertrade (@papertrade_xyz), an on-chain perpetual futures exchange built on Hyperliquid, one trader executed $10.1 billion in trading volume. Although his trades incurred a loss of $979,000, he was awarded 252 million PAPER tokens. He subsequently ceased trading and staked all 252 million PAPER tokens, having already claimed $1.73 million in USDC staking rewards to date. Over the past three days, he has averaged earnings of approximately $220,000 per day. After factoring in his trading losses, his current cumulative profit is approximately $762,000.
Odaily reports: Patrick Collison posted on X that more than a year after Privy joined Stripe, its wallet asset scale has grown to about 25 times its previous level, its number of monthly active developers has grown about 3 times, and its revenue has grown about 9 times. It currently facilitates nearly $25 billion in transactions per month. Companies such as Ramp, Deel, Klarna, and Hyperliquid are building embedded banking features based on Privy. Stripe is integrating Privy into Treasury, Link, and Connect, and plans to launch a Link balance feature. Privy's wallet infrastructure already supports AI agents in conducting transactions and earning income. Stripe, together with Privy, Bridge, and other businesses, is building a unified API to support holding stablecoin balances and earning yield, fiat funding inflows and outflows, and arranging spending through bank cards.
Odaily News: Hyperliquid HIP-3 has generated a cumulative $75 million in revenue, of which $37.5 million goes to deployers, and the other $37.5 million is used for Hyperliquid native token buyback and burn. HIP-3 is a mechanism for deployers to launch perpetual markets on Hyperliquid. Deployers can define their own oracle and contract specifications and are responsible for operations, while reusing the protocol's infrastructure such as the order book and liquidations. Fees from the relevant markets are typically split between deployers and the protocol proportionally, and the protocol-side revenue can be used for buyback and burn.
PaperTrade posted on X stating that trading volume in the first 6 hours after launch exceeded stock market trading volume; one day after launch, PaperTrade has become a trading platform supporting 1000x leverage, with liquidity pool (LP) size reaching $5 million and $25 million in rewards distributed to staking users.In response to community concerns about the fair launch mechanism and BTC/ETH market manipulation, PaperTrade stated that due to the need to prevent frontend congestion and spam request attacks, small orders cannot enjoy exactly the same priority as large orders, and the team has maximized fairness within these constraints. Some users exploiting the Hyperliquid BBO mechanism to manipulate BTC/ETH was not an oversight in mechanism design, but rather resulted from opening a higher OI cap during the initial launch period to alleviate queuing pressure. As traffic has declined, the team has begun tightening position limits at both the on-chain and relay levels to reduce the profit space for manipulation.PaperTrade added that no system can completely eliminate manipulation, and the goal is to make attacks nearly unprofitable through parameter adjustments, noting that in the relevant incidents, some users ultimately returned most of their profits to the platform due to persistent manipulation attempts.
Odaily News — Papertrade.xyz, a synthetic perpetual contract DEX built on Hyperliquid HyperEVM, has attracted $118 million in deposits, reaching a total value locked (TVL) of $118 million, with the platform supporting up to 1000x leverage.As of 11:45 AM ET on October 10, data from Papertrade.xyz shows that the platform's 2,349 positions have open interest of approximately $11 billion, but the funds backing these positions amount to only $54 million.The platform does not charge slippage, funding rates, spreads, or traditional notional trading fees. Trades are executed through synthetic swaps between users and a shared protocol liquidity pool. Losing traders receive PAPER tokens, while profitable traders may experience delayed withdrawals when liquidity is insufficient.Papertrade.xyz was founded by Jez and Blurr, who operate under partial anonymity. The project also sold 100 pairs of custom paper pants at $2,000 each, which sold out in approximately 40 minutes, generating $200,000 in sales. (Bitcoin.com News)
According to the official website, Papertrade, a synthetic perpetual protocol built on HyperEVM, has officially launched. Its pre-deposit phase has closed, with 11,473 addresses depositing $137 million.Papertrade is a fully onchain synthetic perpetual trading platform deployed on HyperEVM. It reads the BBO midpoint price from the Hyperliquid order book, and users trade directly against the protocol's LP as the counterparty rather than through traditional order book matching. It focuses on high leverage, zero slippage, and no funding rates. The native token PAPER has an initial supply of zero, with no pre-mine, team, or VC allocation. The only minting source is user losses or liquidations. In the early stage after launch, PAPER is not freely transferable and is primarily used for staking.
Odaily reports: According to an official announcement, Papertrade, a synthetic perpetual protocol built on HyperEVM, is expected to launch for trading at 22:00 tonight, with deposits set to be paused at 13:45 UTC. As of now, the protocol's pre-deposits have exceeded $90 million, with a total of 7,280 addresses participating. Papertrade opened pre-deposits on the 9th, and once trading begins, the priority for account creation and deposits will be lowered.Papertrade is a fully on-chain synthetic perpetual trading platform deployed on HyperEVM. It reads the BBO mid-price from the Hyperliquid order book, and users trade directly against the protocol's LP as the counterparty, rather than using traditional order book matching. It features high leverage, zero slippage, and no funding rates. The native token PAPER has an initial supply of zero, with no pre-mine, team, or VC allocation. The only source of minting is user losses or liquidations. In the initial launch phase, PAPER cannot be freely transferred and is primarily used for staking.
Blockchain.com is seeking approval in the U.S. market to launch prediction markets and crypto derivatives trading.
Odaily reports: Papertrade, a synthetic perpetual protocol built on HyperEVM, has announced that pre-deposits are now live, allowing users to complete deposits and account creation over the next two days. According to the team, once official trading begins, the priority for account creation and deposits will be significantly reduced. Depositing early helps avoid congestion at launch, though there is no additional advantage to depositing earlier during the pre-deposit period.Papertrade uses Hyperliquid's order book BBO mid-price, with users trading directly against the protocol's LP. It focuses on high leverage, zero slippage, and no funding rates. The native token PAPER has an initial supply of zero, with no pre-mine, team, or VC allocation. The only source of minting is user losses or liquidations. In the initial phase after launch, PAPER will not be freely transferable and will primarily be used for staking. According to the official timeline, official trading is expected to begin approximately one hour after the HyperEVM network upgrade is completed on October 10, with the exact time subject to announcements on the Hyperliquid Discord. During the opening phase, trading must be conducted through the official website frontend and whitelisted relayers, while direct contract interaction will be opened once congestion eases.
at the TOKEN2049 event in Singapore that Hyperliquid founder Jeff Yan stated that options will become the next component of Hyperliquid, allowing traders to hedge options with spot and perpetual contracts on the same order book.
Odaily News: Real-time data for decentralized trading platform Hyperliquid's 24/7 perpetual contracts is now available on the Bloomberg Terminal, allowing professional investors to monitor its contracts related to cryptocurrencies, crude oil, gold, the S&P 500 index, chip manufacturers, and foreign exchange. This integration does not support direct execution of Hyperliquid trades through the Bloomberg Terminal.Under the AQAv2 framework, Hyperliquid has received its first $14.58 million USDC payment, covering a 30-day period. This mechanism allocates approximately 90% of the cost-adjusted reserve yield generated from USDC supply to Hyperliquid, which is directed into the Assistance Fund for purchasing HYPE.Following the related developments, the price of HYPE briefly exceeded $95, approaching its all-time high of $97.96. The number of wallets holding more than 10 HYPE has surpassed 50,000, reaching its highest level since August 15. (Bitcoin.com News)