Google Cloud has announced the launch of its L1 blockchain, GCUL, which simplifies cross-border payments and asset settlements through a distributed ledger. GCUL is currently in a private testnet phase and announced a partnership with CME earlier this year to pilot tokenized assets. — link

Rich Widmann, head of Web3 strategy at Google Cloud, claimed that GCUL is a Layer 1 blockchain, but the community questioned that it is not decentralized and permissionless, but more like a consortium chain.

a real dilemma for cexs

https://x.com/houseofyogix/status/1960228157530968381?s=46&t=nluSw7cwYGx8zFxfoYi5Iw

Today, the XPL hyperp experienced a period of significant volatility, where the mark price increased by ~2.5x over several minutes. Throughout this period, the Hyperliquid blockchain functioned as designed without any technical issues, first executing liquidations against the order book and then falling back to auto-deleveraging (ADL) as per its public specifications. Hyperps use isolated-only margining, meaning pnl from all users are isolated from all positions on other assets. All liquidations and ADLs affected only XPL positions, and the protocol incurred no bad debt.

Pre-launch markets are inherently unpredictable. The robust mark price formula for hyperps correctly prevented an instant spike, requiring several minutes of elevated order book prices before triggering liquidations.

Hyperliquid is a permissionless protocol with different markets, each with unique risk profiles. Users are strongly encouraged to read the documentation to understand the mechanics of markets like hyperps and to apply appropriate risk management before trading. All hyperps include a warning for users to beware of low liquidity, high volatility, and increased liquidation risk.

Lastly, some users expressed a desire to short using a highly collateralized position. After the next network upgrade, the mark price of hyperps will be capped at 10x the 8-hour mark price EMA. This condition has never been close to being hit, but provides a mathematical formula for bounds on liquidation prices for overcollateralized shorts. The 8-hour EMA is already reported onchain and in the API as the oracle price for hyperps. Note that this would not have changed any of today’s liquidations or ADLs, but is intended to encourage liquidity provision during periods of volatility. Different suggestions from users all come with a different set of risk vectors. The best solution is to onboard more liquidity for these markets to reduce the effects of volatility.

My apologies for providing the incorrect wallet label earlier. Please share this post!

https://x.com/mlmabc/status/1960621721402135017

interesting spaces to listen to (PM, ICM)

https://x.com/i/spaces/1ZkKzZPrZwqKv

offtopic but if you're a host or interviewer, please don't cut off your guests when they are speaking

in fact, this should apply to all conversations even with fnf or colleagues or whoever

JUST IN: 🇯🇵 Metaplanet to raise $837 million to buy more Bitcoin.

@WatcherGuru

REX-Osprey seeks SEC approval for BNB staking ETF, following Solana fund route — link | AI comment

Binance has announced the launch of its 33rd project on the HODLer Airdrop page — Dolomite (DOLO), a decentralized money market protocol. DOLO will be listed on August 27, 2025, at 16:00 UTC, with trading pairs against USDT, USDC, BNB, FDUSD, and TRY. Meanwhile, the second round of the Binance HODLer Airdrop will feature MyShell (SHELL), with an additional 25 million SHELL tokens distributed (accounting for 2.5% of the maximum supply). In addition, Binance Alpha will list Dexlab (XLAB) on August 29. — link

Based on user feedback, hyperp mark prices will use the normal mark price formula incorporating external pre-launch perp prices for the same asset if available. This has no noticeable effect on the vast majority of users and instances, but improves robustness of the system. To be clear, this does not affect funding rates or realized pnl. Thank you to the users who shared constructive feedback based on their interactions with hyperp markets.