DeFi

A bold proposal from Jon and Hasu in the Hyperliquid community is generating significant discussion. The plan calls for burning roughly 45% of the total HYPE supply and reducing the FDV (Fully Diluted Valuation) to align more closely with circulating market capitalization. It also proposes eliminating the predefined future allocation for “Community Rewards & Reserve Pool” to make the token more attractive to institutional investors.

The HYPE token of Hyperliquid has recently experienced a sharp decline, which is believed to be linked to the rise of emerging DEX tokens such as Aster. The article reveals that starting in November, approximately 237.8 million HYPE tokens will be unlocked, creating significant supply pressure, while the buyback program can only cover about 17%. Amid intensifying competition and shifting market sentiment, this could accelerate the token’s price correction.

The article provides a detailed analysis of several DeFi protocols, including Hyperliquid, Ethena, Maker, and Frax, showing how they leverage native stablecoins or innovative mechanisms to recycle revenues into buybacks, ecosystem funding, and user incentives.

Vitalik suggested that “low-risk DeFi” could become a cornerstone application in the Ethereum ecosystem, much like Google Search is to the internet. The article argues that use cases such as fully collateralized lending, stable payments, and synthetic assets can provide sustainable value and cultural identity for ETH without relying on extreme speculation, making this an important direction that balances both economic benefits and community spirit.

This article examines the competitive dynamics and liquidity structures of centralized exchanges (CEXs) to identify growth opportunities for decentralized perpetual contract exchanges (Perp DEXs). The article analyzes the key differences between the Central Limit Order Book (CLOB) and AMM-based perpetual contract models, focusing on market structure, price discovery, liquidity aggregation, and asset listing strategies as the basis for comparison. Under current market conditions, Perp DEXs are gaining prominence and are well-positioned to capitalize on emerging structural opportunities.

The article explores how shifts in regulatory attitudes benefit entrepreneurs and investors. It also examines key issues, such as the clarification of developers’ legal responsibilities and the specification of regulations for staking and mining activities.

This article examines the factors behind Figure's success and highlights the immense potential of blockchain technology within the financial industry.

A Hyperliquid expert turned $6,800 into $1.5 million in just two weeks—not by betting on market direction, but by leveraging a self-developed HFT bot and a maker rebate strategy. The article details their market-neutral approach, risk management, and technical foundations, uncovering the hidden logic and risks of high-frequency trading.

MegaETH has joined forces with Ethena to introduce the native stablecoin USDm. This model leverages stablecoin yield, rather than conventional transaction fees, to provide transaction ordering based on stablecoin yield and gas execution for high-performance blockchains. It delivers extremely low latency and achieves high throughput (transactions per second, TPS). This framework ensures transparent network fees and supports sustainable network growth.

Fluid is a capital efficiency platform that integrates lending, Vault, and DEX functionalities. It supports smart collateral and smart debt, features a unified liquidity layer, and offers extremely low liquidation costs. Through Solana’s scaling initiatives and buyback strategies, it exemplifies a new generation of competitive landscape for DeFi protocols.

The article not only analyzes the limitations and systemic issues of the traditional financial system but also discusses in detail the potential and practical applications of DeFi in addressing these challenges.

This article examines the XPL pin event on Hyperliquid, offering a detailed analysis of the structural tensions between the order book model and on-chain liquidity. It investigates the systemic risks inherent in the perpetual contracts market and outlines new directions for protocol design, including proactive risk controls, spot pool coordination, and LP protection mechanisms. Additionally, it identifies the opportunities within the $30 billion revenue-sharing market.

The AAVE V4 upgrade brings a unified liquidity layer and a hub-and-spoke architecture to the platform, integrating dynamic risk premiums, smart accounts, and support for cross-chain and real-world asset (RWA) transactions. These advancements are set to redefine the DeFi lending landscape, driving greater capital efficiency and increasing protocol flexibility.

This report outlines the background and objectives of the R0AR node sale. It also explores its technological innovations, community-driven initiatives, and future economic model in depth.

The article provides an in-depth explanation of Goblin Finance’s core features and advantages, while also exploring critical challenges in the current Aptos ecosystem—including fragmented yields, extensive idle capital, the absence of a centralized yield hub, and the increasing homogenization of LST products.