fast money culture

and they will choose this game again and again instead of slow utility picks

in bad times ct often likes to nitpick and find reasons or scapegoats to blame

most are just bored and need content

when good times return, everything goes out the window and you’ll see people bidding the exact same things they lectured about

trenches are just a tool for risk on and he who doesn’t know when to risk off only has himself to blame

but ofc, not saying i agree to the whole grifting and extracting by sophisticated teams hiding behind high profile accounts

jail for them thanks

Jupiter: It was an open secret in memecoin circles that an “Argentina Coin” was going to launch at some point. Ben from Meteora was aware of the CA a few minutes prior to launch for verification purposes. By the time we added LIBRA to the Strict List and shown with the “Verified” tag in our Trenches product, the market cap was already 1.5b. We take allegations of insider trading seriously. We have conducted our own investigation and cannot find any evidence of sniping by team members. — link

Summary of traders' losses on $LIBRA

- 74,689 traders loss a total of ~$286.3 million
- 25 traders had extreme losses exceeding $1 million
- The average loss per trader was approximately $3,833
- The band with the largest total losses was -$10,000 to -$50,000, accounting for about $52.5 million in losses

Source: wassielawyer

i think generally moving forward

1) don’t be overly bearish whether market or sol
2) keep an open mind for thematic changes

ct has a knack for being overly bearish at bottoms and overly bullish at tops

if uncertain just wait until market shows its hand before deploying

a lot of extreme takes rn that remind me of summer ‘24

also i see group chats crashing out one by one

interesting times

Meteora Founder Resigns After Backlash From Community Over Shady Memecoin Deals — X

via @ZoomerfiedNews

The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system. The initial mainnet release of the HyperEVM includes:

HyperEVM blocks built as part of L1 execution, inheriting all security from HyperBFT consensus.
Spot transfers between native spot HYPE and HyperEVM HYPE. As a reminder, HYPE is the native gas token on the HyperEVM.
A canonical WHYPE system contract deployed at 0x555...5 for defi applications. The source code can be found at https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/evm/wrapped-hype

Effective immediately, the bug bounty program will pay mainnet bounty amounts for reports within the scope of the points above. See https://hyperliquid.gitbook.io/hyperliquid-docs/bug-bounty-program for details.

For API and wallet users: the mainnet HyperEVM has chain ID 999. A JSON-RPC server for the mainnet HyperEVM is hosted at https://rpc.hyperliquid.xyz/evm. Node operators and other builders are encouraged to host their own RPC servers.

Tooling and analytics around mainnet HyperEVM may not be polished on day one. However, there are many talented builders working to solve these developer pain points. To help with these efforts, raw HyperEVM block data is streamed realtime to S3 so that running a node is not required to index the HyperEVM. More technical details can be found here: https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/evm/raw-hyperevm-block-data

General ERC20 native transfers and precompiles will be enabled on a future network upgrade. Any ongoing feedback for these features on testnet is greatly appreciated. While these features are implemented on testnet, the mainnet releases are staggered for minimal disruption to existing users on the L1. The HyperEVM is composable with the L1 state while not affecting the low latency trading experience of existing users.

Thank you to all the builders and users who have shared feedback on testnet so far. It will be exciting to see new applications leveraging and building upon the existing onchain financial system of Hyperliquid.