Open interest reached an all-time high of $18B on Hyperliquid

Decision making wasn’t in the PiP description… 💧

Not directed at UK persons ⚔️

Trailing stops are now available for perp markets. A trailing stop's trigger price follows the mark price as it moves in favor of the position. When the mark price retraces from its best level by the selected distance or percentage, it triggers a market order. For long positions, the trigger price follows the highest mark price reached since activation; for short positions, it follows the lowest. An optional activation price determines when tracking begins. Without one, tracking begins immediately at the current mark price.

Most tech giants in the 2000s built their infrastructure and product as one entangled unit. Amazon had the foresight to separate out AWS as an API layer, of which Amazon retail was the first of many users. Today, AWS generates more profit than all of Amazon's other business lines combined. Hyperliquid is built with the same philosophy. Housing all of finance requires thoughtfully designed, open financial primitives. Each primitive should obey the Unix principle of "Do one thing and do it well." Talented builders then have the foundation to chain these together to create magical applications. HyperCore borrowing is an example to highlight this philosophy in action. Most other platforms implement portfolio margin by marking an account's collateral to market value with an LTV haircut, creating borrowed assets without an explicit lender. This system is simpler to implement, but misses a golden opportunity for composability. Hyperliquid instead begins with a borrow/lend protocol on HyperCore. Every borrowed asset is sourced from a supplier, so risk is isolated within the borrow/lend primitive instead of platform-wide. HyperCore's portfolio margin system is implemented as an orchestration layer that composes borrow/lend, with other primitives such as perps, spot, and outcome trading. This decomposition has several nice corollaries: 1. Today's announcement of manual borrowing is not a new feature, but simply an extension of the underlying primitive. Borrowers on day one have access to 400M and growing of supplied liquidity. 2. Portfolio margin users earn interest on their idle stablecoin collateral. This is not a new feature, but a natural byproduct of composing trading with lending. 3. System safety is easier to reason about when perp and borrow/lend margining are independent. In the same way that math theorems almost prove themselves when the right abstractions are defined, composable designs just feel right.

HaPiP ATH. Please celebrate responsibly. 💧 🥳

Announcing PiP of the Month for August ! Each month, we crown a winner who earns: ✨ 1 PiP & Friends NFT ✨ $100 cash prize ✨ Access to the Community Takeover Chat ✨ A direct say in the future of PiP! June’s winner is… 🏆 @Ollieelloise 🎉 Congrats! DM @PiPintern to claim your prize.

料理人視点

New pip pfp fams Really like this one ⚡

The formula has been peer reviewed. Trust me bro 💧

One trip outside… This is why I stay on Hyperliquid 🌊

New month new fan art for PiP It’s gonna be an amazing month guys, be optimistic about it at the end of the day, only delusional PiPs win hard gPiP frens

been Pipping real hard for a while now, so i figured i channeled some of that energy into the making arts for PiP Yes, I’ve become attached 💀 PiP is definitely more than a ticker or an NFT the memes, the people, the culture, everything happening around it, i’ve enjoyed being part of it so yeah, made this to show some more love and conviction might be dropping some more soon 👀 Gotta flood the TL with PiP!

Hyperliquid on the outside. Hyperloving on the inside. 🥰 💦

HyperEVM is now supported on the Pumpfun app Trade any HyperEVM token with USDC, earn callout rewards & trade with near-zero fees We’re proud to be the first app to bring HyperEVM to the trenches. Let’s cook.

Big cup. Tiny PiP. Serious business. ☕ 💧

gPiP.

Hypurr Family Hyperliquid.

We’re working very, very hard to bring Hyperliquid to the United States. Nobody does liquid better than us. Nobody. 🇺🇸💧