Excited to see this one out. When an EVM is composable with an orderbook, this gives AMMs a new set of eyes that they didn't have before. CEX-DEX arbitrage is a massive source of value leakage from AMMs. My back-of-the-envelope calculations suggest that this could be ~$2B per year across DeFi. Through precompiles, nest AVR pools will be able to read a reference price from the orderbook within each block to estimate how much arbitrage value is available to each swap. This is especially relevant for HYPE pools, which generate the most volume on nest. Higher yields will make providing liquidity to blue-chip nest pools more attractive, giving the AMM a chance to work in symphony with the orderbook. That captured value is 100% shared with Hyperliquid users. Parameters will be optimised over time, but it's clear that this lever can generate significant fee performance during volatile events. Good to have in an industry whose assets are highly volatile. Some people approach this problem with offchain or external systems (fair enough), or with propAMMs (not DeFi). Hyperliquid gave us the opportunity to try something unique that is fully onchain. nest has a new source of value capture that can deliver significantly more rewards for LPs and voters. It's also my first contribution to nest on the smart contract side, so I'm especially eager to see this live!

It's been a while... nest 2.0 is on the way A $81,200 $NEST buyback started today, and until Monday for the HYPE Engine Vault

welcome to the nest new holders let's grow Hyperliquid together

TVL crossed $25m on nest new all-time high

I was summoned, but the nest-2:native thesis is extremely simple so that's why I haven't done any more complicated posts on it since my first (also let ya boi stealth accumulate in peace 🙄). I think metaDEXs ($AERO and nest-2:native, even up-2:native on RH Chain) are fundamentally superior to their traditional counterparts (ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984 and PRJX/Hyperswap on the HyperEVM). They fix a fundamental trilemma inherent to Uniswaps model, the need to siphon of fees from LPs in order to have a valuable token. Hard to simultaneously be the best place to LP, and therefore the deepest liquidity, while having a token that accrues value. This is why $UNI delayed buybacks for so long. This is also at least a major reason why PRJX didn't TGE on the HyperEVM. Why have a token you need to support with buybacks when you can just take 14% of LP fees? $UNI price action has been buoyed by RH chain, but you can't charge LPs 16-25% long term. There's just not enough moat for on chain liquidity in a world with aggregators. On chain DEXs are getting eaten into by launchpads and CLOBs to some degree, but long term, I think the $AERO, $NEST etc model wins for longer tail assets on chain. $UP, which I'm not currently long, serves as a good example of how reflexive and hard these style of tokens can run once their flywheel gets flywheeling, like it was on RH chain. $NEST is similar to $AERO on the HyperEVM, which I think has been overly written off and will be revived by @Kinetiq_xyz Elysium. $KNTQ and $NEST are very clean $HYPE beta, especially regarding tokenization and memes TLDR: I like $AERO, I like the HyperEVM revival narrative, therefore, I like $NEST

number go up

X Spaces hosted by @HYPEconomist and @0xMerp building the Bull Market portfolio on Hyperliquid RWAs, memes, and yield. where every dollar of HYPE should be working when the market turns. Sept 15, 1pm ET 📅👇

Not the biggest, but the dankest weekly $HYPE distribution from @NestExchange. Crypto is really just the transfer of wealth from the impatient to the patient, and staking $AERO and nest-2:native is one of the better examples of that. Getting some "real yield" as liquid $HYPE weekly as opposed to all emissions/rewards in kind as token is very comfy too. Think there's a potentially very nice bull case for nest-2:native (and obviously kinetiq:native) once @Kinetiq_xyz Elysium is live since that will be a big unlock for a lot more RWA and meme spot trading. My two favorite asymmetric bets on the HyperEVM right now.

Even on a somewhat slow epoch like last week's, I got a decent hype drop from hype engine vault @NestExchange. 100% from autocompounded nest. Didn't lock new cause weekly drop was already around 12%. Now imagine bull market $NEST Hyperliquid

fees and NEST locks outpaced new supply by 2X in epoch 39

If $HYPE runs, $NEST runs, if $NEST runs, $EGG runs, if $EGG runs, $JOFF runs, if $JOFF runs, $HYPE runs, if $HYPE runs, $KNTQ runs, if $KNTQ runs, $NEST runs, if $NEST runs, $JOFF runs, if $JOFF runs, $EGG runs HyperEVM Summer

Happy to announce that i will be advising @NestExchange focusing specifically on capital relations and growth i believe that the onchain environment surrounding Hyperliquid is ripe for immense value creation, and am excited to help foster synergy and explore opportunities with other builders, the community, and investors Nest protocol, in a few words, exists to convert onchain volatility and volume into hype tokens, and veNEST is the vehicle for this, its a lot if you are unfamiliar with the meta dex concept, so i will explain in more detail in another post don't hesitate to reach out if you have questions, feedback, or ideas for collaboration

Realising Jeff's vision for HyperEVM: Part One Coming soon to @NestExchange

Hyperliquid.

Nest already hosts over $100k in TVL in xStocks pools, covering all the tickers we launched on Hypercore. DeFi protocols can just build things. Hyperliquid.

Tokenized spot equities are the probably the first big catalyst for the HyperEVM tokens since launch. RWA perps volume and narrative have really carried the $HYPE bull case during a very slow crypto summer, but the HyperEVM has seen near no benefit. Soon we'll have: Borrowing against equities on @hyperlendx LPing them on @NestExchange Etc etc $KNTQ still best $HYPE beta overall imo, but we're about to see pretty meaningful TAM expansion for the entire ecosystem.

holy fk I knew nest-2:native was having a big $hype drop but I only expected a few hype. I got 33.5 dropped to me for one week of staking, about $2k. lfgggggg

bring your @xStocksFi to nest and start generating massive rewards now bridge into HyperEVM now

$NEST rewards kick off tonight for xStocks pools at 00:00 UTC