RT Hayden Adams 🦄 (@haydenzadams)Today, I’m incredibly excited to make my first proposal to Uniswap governance on behalf of @Uniswap alongside @devinawalsh and @nkennethkThis proposal turns on protocol fees and aligns incentives across the Uniswap ecosystemUniswap has been my passion and singular focus for the past 8 years. What started as a small side project is now global financial infrastructure powering thousands of applications with ~$1.8 trillion in annual tradingUNI launched in 2020, but for the past ...

RT Hayden Adams 🦄 (@haydenzadams)Today, I’m incredibly excited to make my first proposal to Uniswap governance on behalf of @Uniswap alongside @devinawalsh and @nkennethkThis proposal turns on protocol fees and aligns incentives across the Uniswap ecosystemUniswap has been my passion and singular focus for the past 8 years. What started as a small side project is now global financial infrastructure powering thousands of applications with ~$1.8 trillion in annual tradingUNI launched in 2020, but for the past ...

A proposal for the next chapter of 🦄UNIfication is a joint proposal from Uniswap Labs and the Uniswap Foundation that turns on protocol fees and aligns incentives across the Uniswap ecosystemPositioning the Uniswap protocol to win as the default decentralized exchangeHayden Adams 🦄 (@haydenzadams):Today, I’m incredibly excited to make my first proposal to Uniswap governance on behalf of @Uniswap alongside @devinawalsh and @nkennethkThis proposal turns on protocol fees and aligns incentives across the Uniswa ...

Core Insights - David Knox, former executive at PayPal, has been appointed as the Chief Financial Officer of Hyperion DeFi, a firm focused on digital asset treasury [1][2][3] Company Overview - Hyperion DeFi is dedicated to acquiring HYPE tokens, the native cryptocurrency of the rapidly growing decentralized exchange, Hyperliquid [2] - The firm has recently completed a $10 million acquisition, increasing its total holdings to 1,712,195 HYPE tokens valued at approximately $79 million, with HYPE priced at $46.09 [4] - Hyperion's treasury, with an unrealized profit of about $13.4 million, is currently the largest of its kind, surpassing Lion Group Holding's holdings [4] Industry Trends - The concept of crypto treasuries is gaining traction among institutional investors, with firms looking to acquire significant amounts of altcoins such as Ethereum, Solana, and Binance Coin [5][7] - Hyperion, previously known as Eyenovia, has transitioned from a pharmaceutical focus to a digital asset treasury model, reflecting a broader trend of companies rebranding or launching new entities for digital asset treasury ambitions [8]

Crypto enthusiasts, listen up. I've got the inside scoop on three DeFi tokens that are primed for a massive bull run. First up, Chain Link.This oracle network is the backbone of DeFi, providing realworld data to smart contracts. Its adoption is skyrocketing, making link a top contender. Next, we've got Uniswap.As the leading decentralized exchange, UN is set to benefit from the growing demand for DeFi services. Finally, don't sleep on A. This lending protocol is revolutionizing borrowing and lending in the ...

Core Insights - Hyperliquid is experiencing significant interest from major crypto companies competing to launch the USDH stablecoin, leading to an on-chain vote by stakeholders [1][6] - Major contenders include Paxos, Sky, Frax Finance, and Ethena, with Native Markets currently positioned as the frontrunner [2] - Hyperliquid operates as a decentralized exchange on its own layer-1 network, holding approximately $5.84 billion in stablecoins, with USDC making up 94.9% of this total [3] Company and Industry Overview - Hyperliquid aims to create its own stablecoin to compete with established players like Circle's USDC and Tether's USDT, seeking to capture the lucrative yields generated by these stablecoins [4] - The Hyperliquid Foundation emphasizes that the USDH stablecoin must align with Hyperliquid's ecosystem, with proposals focusing on revenue reinvestment [5] - The eventual issuer of the USDH stablecoin is expected to gain substantial support from the Hyperliquid community, which is crucial for the token's adoption [6] Contenders for USDH Stablecoin - Native Markets is specifically established to develop the USDH stablecoin, having communicated its intentions to Hyperliquid Labs months in advance [7] - Native Markets plans to ensure compliance with the GENIUS Act, a recent U.S. legislation on stablecoins, and intends to utilize Bridge, a platform acquired by Stripe, for managing reserves [8]

Security Incident - Decentralized exchange Bunni suffered a smart contract exploit resulting in a loss of $2.3 million [1]

Decentralized Network & Trust - A hub can be set up for a small community with 10 BTC, functioning similarly to a centralized exchange [1] - As long as no individual settlement exceeds $1 million USD, the hub can handle most of the community's business through offchain settlement [1] - The industry acknowledges that while software can minimize trust, it cannot eliminate it entirely, requiring some level of trust in the code's correctness [2] - Bitcoin provides a choice of who to trust, but doesn't fully eliminate trust when recentralizing in any community, a trusted hub is needed [3]

Hyperlquid Overview - Hyperlquid has been gaining market share from major exchanges, with its hype coin climbing towards the top 10 [1] - Hyperlquid consists of two core components: Hypercore (powers the DEX) and HyperEVM (generalized execution layer for DApps) [1] - Hyperlquid is expanding to new use cases, including decentralized social media platforms like Farcaster [2] Key Developments - Hyperlquid integrated with a cross-chain protocol, facilitating USDC bridging from other chains [1] - Hyperlquid launched HyperEVM, leading to an increase in DApps and TVL on Hyperlquid [1] - Hyperlquid introduced native multi-sig wallets, enhancing security and appealing to institutions [1] - Tether launched USDT0 on Hyperlquid, and Layer Zero launched Hyperbridge, enabling bridging of USDT and other cryptos [1] - The first billion-dollar long position was opened on Hyperlquid, demonstrating liquidity [1] Challenges and Risks - A trader's self-liquidation caused a $4 million loss on the DEX, raising decentralization concerns [1] - Hyperlquid delisted the Jelly token, sparking controversy and leading to a more decentralized delisting process [1] - Competition from centralized exchanges launching DEXs, such as Bybit's DEX on Solana, poses a significant challenge [3] - Limited team size (10 people) may hinder Hyperlquid's ability to compete with larger exchanges [3] - Potential hesitation from stablecoin issuers to launch native tokens on Hyperlquid due to centralization concerns [3] Hype Token Analysis - Hype's price is influenced by fee buybacks and DeFi leverage, but decoupling from trading volume raises concerns [2] - DeFi leverage, particularly whales borrowing against hype to buy more hype, is supporting its price action [2] - A potential mass liquidation event due to exogenous shocks (e g, escalation between Israel and Iran) could cause hype to fall as low as $23 [2] - Industry experts predict Hype could reach $300, giving it a market cap of around $100 billion [2] Future Milestones - The mainnet implementation of Hyperlquid Improvement Proposal 3 (HIP 3) will allow anyone to launch perpetuals on the DEX [2] - Each perpetual pair will require a stake of 1 million hype to mitigate market manipulation [2] - Hyperlquid is focused on stablecoins but lacks native USDC or USDT, possibly due to centralization [2][3]