Hyperliquid Announcements

From https://x.com/hyperunit:

Introducing Unit: the decentralized asset creation layer for all of finance, built exclusively on Hyperliquid.

Unit will enable seamless deposits, withdrawals, and trading for a wide variety of assets. Our first integration allows major spot crypto tokens to flow between Hyperliquid and their native blockchains, launching today with native BTC.

This is a significant unlock for users, enabling:
+ 1-Click Native Deposits & Withdrawals: Deposit or withdraw BTC via their self-custodial wallet or centralized exchange account. (ETH and SOL coming soon).
+ Unified Trading Experience: Trade both spot and derivatives within a single, integrated platform.
+ New Capital Onramps: Send spot from any supported native source chain and sell in the spot order book to access USDC.

Deposit BTC now directly on http://app.hyperliquid.xyz or at http://app.hyperunit.xyz. For more details on the protocol design, see our documentation at http://docs.hyperunit.xyz and to stay up to date on what we're building, you can join our telegram channel: http://t.me/hyperunit

Biweekly update

Tech
+ Based on testnet usage, user feedback, and load testing, the HyperEVM adopted two architectural changes on testnet: dual-block architecture and sender-agnostic native token transfers.
+ Multi-sig is now live on mainnet. Unlike most other chains, multi-sig is a primitive built natively into the Hyperliquid L1 instead of requiring smart contracts. Read more in the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-l1/multi-sig
+ As always, feedback and bug reports are appreciated

Product
+ Improvements to automatic deposit reliability for email login, mobile token selector, allowing negative % values for TP/SL, pending deposit & withdrawal display, etc.

Trading
+ VVV, JELLY, BERA, and TST perps were listed

Community Highlights
+ Added a new channel ⁠in Discord to help track airdrops and rewards from other projects to the Hyperliquid community
+ Across Protocol integrated Hyperliquid
+ CMM (CoinMarketMan), a trading journal, added support for Hyperliquid
+ Pine Analytics shared an update on TVL hitting 2.5B USDC: https://flipsidecrypto.xyz/pine/hyperliquid-bridge-metrics-lxNyGO (Separately, note that Defillama changed how they track Hyperliquid's TVL, which has confused a number of users)
+ pvp is hosting a 10k to 100k trading competition: https://x.com/pvp_dot_trade/status/1885783125814636631
+ The Farm shared its product roadmap: https://x.com/thefarmdotfun/status/1884749705848168864
+ SKYGG updated their ecosystem map: https://x.com/SKYGG_Official/status/1885297011324575822
+ This is just a selection of highlights. You can find more in the Discord server

Due to user feedback, partial liquidations have been enabled on testnet for user testing.

As a reminder, the vast majority of liquidations on Hyperliquid are sent directly to the order book. This allows all users to compete for the liquidation flow, and allows the liquidated user to keep any remaining margin. Unlike CEXs there is no clearance fee on liquidations.

For liquidatable positions larger than 100k USDC (10k USDC on testnet for easier testing), only 20% of the position will be sent as a market liquidation order to the book. After a block where any position of a user is partially liquidated, there is a cooldown period of 30 seconds. During this cooldown period, all market liquidation orders for that user will be for the entire position, i.e. the current behavior.

Any feedback or bug reports on testnet partial liquidations are greatly appreciated.

Regarding questions about the Arbitrum bridge: Different lockers run different code, and this is a test transaction by an independent locker around improved locker logic. Apologies for any confusion caused. All user funds are safe.

Biweekly update

Tech
+ As mentioned previously, testnet balances have been reset to ensure a fair environment for testing trading, running a node, etc. This transition is still in process and should be fixed in a few days. In particular, withdrawals from the testnet bridge are still disabled.
+ As a reminder, to date, all mainnet validators have qualified based on testnet performance. The next phase of mainnet validators will be permissionless. Once validators are permissionless on mainnet, anyone who meets the self-delegation requirement will be able to register a validator and apply for the Delegation Program.
+ The number of allowed agents now only depends on the number of allowed sub-accounts, instead of requiring those sub-accounts to exist.
+ There is now a 100 USDC gas fee for creating a vault. This is in red text in the Create Vault modal.
+ The multi-sig UI is available for testing at app.hyperliquid-testnet.xyz/multisig as an advanced feature. Unlike most other chains, multi-sig is a primitive built natively into the Hyperliquid L1 instead of requiring smart contracts. Please read the Docs (https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-l1/multi-sig) to understand the details. Note that the UI is intended as a proof of concept for what interfaces can be built. For example, the multi-sig primitive supports all actions onchain even though the UI only supports a few. As always, any bug reports are greatly appreciated.

Product
+ Prevented placing limit orders when at OI cap - previously, users who didn't realize there was an OI cap would place orders not realizing they would be cancelled.
+ Fixed default entry price for spot token transfers before trading is enabled.
+ Improved continuous loading of data when tab remains open for long periods of time.
+ Minor improvements to staking UI, funding comparison table, account dropdown, token selector, etc.

Trading
+ S, MORPHO, TRUMP, MELANIA, ANIME, and VINE perps were listed
+ ANIME hyperp was listed
+ FTM perps were delisted

Changes to Spot Deploy
+ Deployed tokens now allow a setting of the deployer fee share of trading fees paid in the token (i.e., on buys). The deployer fee share can only decrease. In particular, it can be set to zero to ensure that no fees are collected by the deployer in perpetuity.
+ Using HYPE as an anchor token in genesis now only includes staked HYPE. Excluding addresses from an anchor token will be enabled in the future.
+ Hyperliquidity is now optional for deployed assets.
+ wei decimals can now be up to 10, and size decimals can now be up to 5.
+ Note that the official UI does not yet support these new spot deploy configurations.
+ As a reminder, remember to test the exact configuration on testnet before using mainnet. If you have purchased a spot asset ID on mainnet and need assistance, please reach out.

Community Highlights
+ Projects have been airdropping to HYPE stakers and other members of the Hyperliquid community, e.g., ANIME, TIME, GOD, and more
+ Hybridge added support for fiat on-ramp via credit card, Apple Pay, and Google Pay: https://x.com/HyBridgeHL/status/1883491980711194964
+ Harmonix supports swapping token pairs on Hyperliquid: https://x.com/harmonixfi/status/1880184509905457327?s=46&t=FzB82NK1Ig2kb_HLvfwl3A
+ Build your own dashboard using https://hypervisor.gg/dashboard
+ SKYGG shared a map of the Hyperliquid ecosystem: https://x.com/SKYGG_Official/status/1879862273814204486

New ATHs
+ 24h volume: $22B
+ Open interest: $4.7B
+ 24h protocol revenue (fees + HLP): $9.5M

ANIME has converted from a hyperp (pre-launch) to a regular perp.

MELANIA-USD has been converted to a normal perp using CEX spot prices for oracle sources. Trading now supports cross margin and up to 5x leverage.