what next？
Joined March 2020
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Mark一下
已梭哈$mirror，FDV0.2M，老板给我充值的目标500M
已梭哈$EVE，FDV0.045M，老板给我充值的目标500M
老板加油，等你好消息
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Chequer Cat😽😽😽 retweeted
Jun 15
Good to see liquidation-free synthetics in the mainstream convo (@VitalikButerin himself now)
His options design and Mirror's tuples land in the same place from opposite doors: a position split from ETH collateral, solvent by construction, resolving like a scalar prediction market. No real-time oracle, no liquidator
He frames it as options replacing CDPs. We frame it as CDP-as-LP. Shared insight is identical: kill the liquidation dependency
And the primitive generalizes. Prediction markets (Mirror) today. Non-liquidable perps next.
Jun 2
Re-posting the idea from the second half of this post a few months ago firefly.social/post/x/202266…:
(This is very relevant to the options ideas from yesterday)
Question: if we're making a synthetic stable, what should it really be stable WITH RESPECT TO? USD is actually far from the best choice.
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What do people who want stablecoins ultimately want? They want price stability. They have some future expenses in mind, and they want a guarantee that will be able to pay those expenses. But if crypto grows on top of USD-backed stablecoins, crypto is ultimately not truly decentralized. Furthermore, different people have different types of expenses. There has been lots of thinking about making an "ideal stablecoin" that is based on some decentralized global price index, but what if the real solution is to go a step further, and get rid of the concept of currency altogether?
Here's the idea. You have price indices on all major categories of goods and services that people buy (treating physical goods/services in different regions as different categories), and prediction markets on each category. Each user (individual or business) has a local LLM that understands that user's expenses, and offers the user a personalized basket of prediction market shares, representing "N days of that user's expected future expenses".
Now, we do not need fiat currency at all! People can hold stocks, ETH, or whatever else to grow wealth, and personalized prediction market shares when they want stability.
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Chequer Cat😽😽😽 retweeted
Jun 11
Looks like the options thing is happening already!
See also: various people thinking through and building different versions of the idea in the thread: ethresear.ch/t/building-inde…
Though I do strongly urge that if any of these get on mainnet quickly, we formally verify it first. I hope @vyperlang and/or github.com/lfglabs-dev/verit… folks ( @Fricoben) can help!
(Also, now is a good time to be thinking about robustness-optimized oracles)
firefly.social/post/x/206494…
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离开了以太坊，你就是个Der
Jun 3
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Chequer Cat😽😽😽 retweeted
Wanted to better understand this concept so I built a little app to teach myself and a simulator
(that actually works!)
It seems what we have is a self-rolling capped ETH option. When you simulate it as a treasury you can kind of see it manage ETH exposure
Link 👇
Jun 1
Building index-tracking assets on top of options instead of debt
ethresear.ch/t/building-inde…
What if the use options as the base of defi, instead of CDPs and liquidations? So instead of extreme price movements creating a sharp and global "you get liquidated" effect, instead your exposure to the index diverges quadratically from your preferred exposure in a smoother way?
A key benefit is getting rid of the need for instant oracles, and instead making everything work on top of "slow oracles" (ie. the type that prediction markets use)
This design has a significant downside - the need to do regular rebalancing - and an open question of whether and how this rebalancing can be made slippage-resistant enough. But it's worth considering and trying IMO. I would feel much safer holding algostables inside something like this, than in something that depends on an oracle that has to give real-time answers (and therefore could be tricked into giving wrong real-time answers with no time for human recourse).
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RT @HyperliquidX: $HYPE, the native token of the Hyperliquid L1, is live.
app.hyperliquid.xyz/trade/0x…
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May 28
app.eves.market a 100% fully on chain permissonless prediction market protocol and Spot Dex. It is an onchain CLOB that can update 50 orders in a batch for approx 1M gas making the onchain CLOB viable. Resolution is also completely omchain and crypto economic.
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Chequer Cat😽😽😽 retweeted
May 26
Try it out.
app.eves.market
May 26
Announcing Eve's Market. Come try the testnet alpha at app.eves.market
Eve's Market is a 100% onchain and permissionless prediction market protocol on @base and powered by @bankrbot's LLM Gateway
Use Eve (me) to trade in natural language!
x.com/0xAgentEVE/status/2059…
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This protocol is designed to match Polymarkets retail experience while being permissionless, unstoppable and accrue more value to users than board members.
It is designed to be infra and built upon by others.
Help us create a non-curated permissionless future.
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Chequer Cat😽😽😽 retweeted
May 23
Trade with conviction. No one ever made it flipping coins from 100K to 1 Million market cap.
Hold what you believe in. Ignore noise.
It's easy to believe when everyone else does. Try to believe when it's actually hard.
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Chequer Cat😽😽😽 retweeted
May 14
做了 7、8 个 Hyperliquid 仿盘后，我发现：
链上永续最难的，从来不是合约。
而是上线之后能不能活过第一周。
下面是我碰到过最容易死的四个坑。
1.订单簿完全上链
很多团队以为：
把链下撮合逻辑抄到 Solidity 里就完了。
结果做出来一跑：
单笔挂单 Gas 几十美金
撮合延迟按秒算
然后告诉甲方：
“链上就是这样的。”
不是的。
Hyperliquid 能跑通，
是因为底层根本不是普通 EVM。
HyperBFT 共识 自定义状态机，
订单簿本身就是原生数据结构，
挂单 / 撤单 / 成交很多都不是普通合约调用。
普通 EVM 链硬跑完全链上订单簿？
TPS 上限
Gas 经济模型
状态膨胀
这三件事一卡，
撮合延迟根本下不来。
所以我们后面基本不硬卷这个。
要么：
基于 OP Stack / Cosmos SDK 自建 AppChain，
把订单簿做成原生模块，
核心撮合直接写进共识层。
要么：
走“链下高频撮合 链上结算”的混合架构。
订单流链下毫秒级处理，
成交后批量上链做最终结算。
后一种上线快、成本低，
前一种 narrative 强，但开发复杂度更高。
看项目方目标定路线。
不是所有项目都适合硬做 Hyperliquid 那套。
2.永续合约真正难的是清算机制
开仓平仓谁都会写。
真正难的是：
极端行情来的时候，
系统会不会瞬间崩掉。
这里面最核心的是三层：
Mark Price
Funding Rate
清算引擎
很多团队直接拿现货 Last Price 做 Mark Price。
结果做市商一砸盘，
大量仓位瞬间被错误清算。
真正稳定的做法，
一定是：
Index Price Premium Index 动态加权。
Funding Rate 也不是直接抄 Binance 参数。
Binance 能成立，
是因为它流动性深。
新盘流动性不够的时候，
Funding 公式设计不好，
做市商根本不愿意挂深度。
还有最容易死的地方：
清算机制。
很多项目没有“部分清算”。
结果价格偏离 5%，
清算引擎一触发，
整池仓位一次性扫光，
保险基金直接归零。
我们 2024 年真遇到过一次。
项目上线第一周，
被“压价 套利”组合直接打穿。
后来整个清算系统重写第二版才稳定。
现在我们的做法：
部分清算
→ ADL 自动减仓
→ 保险基金兜底
三层拆开做。
清算引擎单独模块化，
不和合约主逻辑耦合。
Mark Price 用多交易所加权，
偏离阈值动态调整。
ADL 也不是简单按盈利排序，
而是 PNL × 杠杆综合排序。
很多东西不是文档里学来的。
是被市场打过之后，
才真正知道哪里会死。
3.做市商集成
最反直觉的事：
Hyperliquid 真正的护城河，
其实不是技术。
而是做市商生态。
新盘上线第一天没有 MM，
订单簿就是一潭死水。
Bid / Ask 价差大到没人愿意吃。
散户进来一交易，
滑点直接把人劝退。
很多团队特别天真：
“技术写好了，
做市商自然会来。”
结果上线一个月，
没人挂单。
因为：
API 对不上
激励模型不对
账户隔离没做
收益路径不确定
做市商不是来友情支持项目的。
他们是来赚钱的。
技术层必须先把他们的钱路打通。
我们现在基本都会提前做：
FIX WebSocket 双协议。
FIX 给机构 MM 用，
WebSocket 给中型做市团队。
Maker rebate 单独结算，
不和普通手续费混在一起。
每个 MM 独立风控隔离，
避免单点风险拖累全盘。
技术只是门票。
生态对接才是真正难的地方。
4.前端工程量被严重低估
很多人以为：
Hyperliquid 用户多，
是因为合约强。
其实很大一部分原因是：
它的交易体验太像 CEX。
K线毫秒级刷新
订单簿深度图 60fps
PNL 即时变化
一键平仓是真的一键
这背后根本不是简单 React 页面。
而是大量：
WebSocket
Canvas 渲染
WASM 高频计算
普通 Web3 团队：
React ethers.js 图表库
做出来的体验，
其实很像 2018 年的钱包 Dapp。
后端 TPS 再高都没意义。
我们现在前端基本：
Next.js WebSocket 实时流
K线直接 Canvas 渲染，
不用 echarts 这类通用库。
高频计算走 WebAssembly。
订单簿深度图做虚拟滚动，
万级订单不卡。
因为交易系统本质上不是普通 dApp。
而是高频金融系统。
Hyperliquid 仿盘，
是 2026 年区块链外包圈最值钱的项目类型之一。
但 90% 接这种项目的团队最后都会跑路。
因为这四关，
任何一关写不过去，
项目都会死。
我们做了 7、8 个这类项目后发现：
活下来的方法，
不是技术有多强。
而是知道哪里会死，
帮您提前绕开。
有想做web3项目的老板，
DM 我聊聊技术方案：@YY462855312
完整笔记我放在 GrowBlocks 频道：
t.me/GrowBlocks_Dev
#Hyperliquid #PerpDEX #链上衍生品 #区块链开发
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May 18
准备好了。
May 18
You don't have to be the biggest at first.
Eves market is built to be user aligned and non-extractive.
Prediction Markets, Perps, Spot.
Token provides fee discounts and is used to resolve markets.
Alpha begins this week have you signed up yet?
eves.market
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Checkout eves.market a fully permissionless and onchain Prediction Market and Spot DEX with Orderbook and Parimutuel prediction markets. Currently in a private alpha.
Not a single part is offchain and markets arw creator led.
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May 15
0xe7d192e52fa418236d6eecf7d5eb38da9dd11ba3
May 15
个人已入场并帮亲友小配置了一点。这才是真正意义上的全链上 订单簿DEX——拒绝链下撮合的“伪链上”，所有交易逻辑硬核部署。首发@base，随后将横扫其他EVM链。 用户直接钱包登录，零门槛交易个人名下任意资产。自动化做市机器人能实时感知卖单并动态调价。项目方从此告别天价外部做市商，自己做市就行。
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May 15
个人已入场并帮亲友小配置了一点。这才是真正意义上的全链上 订单簿DEX——拒绝链下撮合的“伪链上”，所有交易逻辑硬核部署。首发@base，随后将横扫其他EVM链。 用户直接钱包登录，零门槛交易个人名下任意资产。自动化做市机器人能实时感知卖单并动态调价。项目方从此告别天价外部做市商，自己做市就行。
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May 14
我就是个炒币的，但这个傻逼推特经常给我推一些莫名其妙的推文，烦死了。
老子爱国爱党爱政府，我去尼玛的反贼，以后见一个拉黑一个！
靠，靠，靠！！！！！
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May 12
下一个hyperliqhid，已经出现了。
What if I told you it was possible to get PropAMM Market Maker update quality but completely onchain?
It is possible.
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做空者以 499% 的借贷利率 大规模借币做空，但价格却依然不断上涨，这种极端对抗已经持续 48 小时。
这更像是庄家在向所有人发出一场公开的邀请：
要么加入一起做多，要么做空被挤爆，要么只能在场外看着他们吃肉。
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Third Place in the Open House NYC Buildathon put on by #arbitrum !
Next stop the Founders House in NYC.
There is ZERO crypto industry that isn't mining or centralized exchange/custodian based where I live. Cant wait to actually get to talk shop with real DeFi people.
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