Forwarded from unfolded. DeFi
Forwarded from Crypto Narratives
GME dumps on the news and BTC barely moves ?
People seem to be sleeping on an important piece of news
People seem to be sleeping on an important piece of news
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Forwarded from Ian's Intel
CIRCLE AND ICE TO EXPLORE USDC AND USYC INTEGRATION INTO FINANCIAL MARKETS: JERALLAIRE — aggrnewswire
Forwarded from Leviathan News
PumpSwap rises to be Solana’s #2 AMM by volume in just a matter of days after its launch - Blockworks
Crypto Mumbles
tested it for awhile and overall its pretty smooth and fast so far ui/ux can be improved a bit more, but i think the team is working on that biggest selling point is 0.5% fees instead of the usual 1% in addition to a reputable team (jupiter) i think the…
apepro users remember to get your airdrop
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Forwarded from Hyperliquid Announcements
ETH deposits, withdrawals, and spot trading are now live on Hyperliquid thanks to Unit.
Deposit ETH on http://app.hyperliquid.xyz or http://app.hyperunit.xyz
Trade spot ETH at https://app.hyperliquid.xyz/trade/0xe1edd30daaf5caac3fe63569e24748da
Deposit ETH on http://app.hyperliquid.xyz or http://app.hyperunit.xyz
Trade spot ETH at https://app.hyperliquid.xyz/trade/0xe1edd30daaf5caac3fe63569e24748da
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Forwarded from Hyperliquid Announcements
Yesterday is a good reminder to stay humble, hungry, and focused on what matters: building a better financial system owned by the people. Hyperliquid is not perfect, but it will continue to iterate and grow through the collective efforts of builders, traders, and supporters.
Users with JELLY long positions at the time of settlement will be refunded by the Foundation as if their position settled at the closing price of 0.037555. This results in all JELLY traders being settled at a price advantageous to them, except flagged addresses.
To recap what happened:
A trader self-traded a 4M USDC JELLY position at 0.0095.
The price of JELLY then rose more than 4x, with HLP backstop liquidating the 4M position.
The short position led to a loss in HLP’s account value.
The OI cap formula is a dynamic function of global liquidity and OI on other venues including major CEXs. A 4M USDC position fell within those limits, but additional open interest was prevented from being opened beyond the automatically triggered cap.
However, the key issue was that once HLP took over the position, it shared collateral with the other component vaults in the strategy and therefore did not trigger ADL.
Risk management on Hyperliquid is being strengthened in various ways, including:
+ HLP: The Liquidator vault will have a tight cap representing a small percentage of total HLP account value, rebalanced less frequently, and more sophisticated logic around taking backstop liquidations. ADL will be triggered if the Liquidator loses above a certain threshold, instead of moving collateral automatically from the other component vaults. Note that ADL is not expected to trigger during organic market activity.
+ OI caps: Open interest caps will be refined to be dynamic relative to market cap.
+ Delistings: Validators will vote onchain to delist assets that fall beneath thresholds.
Thank you for your continued feedback, support, and commitment.
Users with JELLY long positions at the time of settlement will be refunded by the Foundation as if their position settled at the closing price of 0.037555. This results in all JELLY traders being settled at a price advantageous to them, except flagged addresses.
To recap what happened:
A trader self-traded a 4M USDC JELLY position at 0.0095.
The price of JELLY then rose more than 4x, with HLP backstop liquidating the 4M position.
The short position led to a loss in HLP’s account value.
The OI cap formula is a dynamic function of global liquidity and OI on other venues including major CEXs. A 4M USDC position fell within those limits, but additional open interest was prevented from being opened beyond the automatically triggered cap.
However, the key issue was that once HLP took over the position, it shared collateral with the other component vaults in the strategy and therefore did not trigger ADL.
Risk management on Hyperliquid is being strengthened in various ways, including:
+ HLP: The Liquidator vault will have a tight cap representing a small percentage of total HLP account value, rebalanced less frequently, and more sophisticated logic around taking backstop liquidations. ADL will be triggered if the Liquidator loses above a certain threshold, instead of moving collateral automatically from the other component vaults. Note that ADL is not expected to trigger during organic market activity.
+ OI caps: Open interest caps will be refined to be dynamic relative to market cap.
+ Delistings: Validators will vote onchain to delist assets that fall beneath thresholds.
Thank you for your continued feedback, support, and commitment.
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Forwarded from Walter Bloomberg
FDIC CLARIFIES PROCESS FOR BANKS TO ENGAGE IN CRYPTO-RELATED ACTIVITIES
FDIC: FDIC-SUPERVISED INSTITUTIONS MAY ENGAGE IN PERMISSIBLE CRYPTO-RELATED ACTIVITIES WITHOUT RECEIVING PRIOR FDIC APPROVAL
FDIC: WILL CONTINUE TO ENGAGE WITH THE PRESIDENT'S WORKING GROUP ON DIGITAL ASSET MARKETS
(@WalterBloomberg)
FDIC: FDIC-SUPERVISED INSTITUTIONS MAY ENGAGE IN PERMISSIBLE CRYPTO-RELATED ACTIVITIES WITHOUT RECEIVING PRIOR FDIC APPROVAL
FDIC: WILL CONTINUE TO ENGAGE WITH THE PRESIDENT'S WORKING GROUP ON DIGITAL ASSET MARKETS
(@WalterBloomberg)