LEE retweeted
H Y P E R L I Q U I D
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hyperliquid:native
LEE retweeted
My full conversation with @based16z
0:19 the Hyperliquid call
5:01 almost losing his $HYPE airdrop
8:27 life after life changing money
10:12 dating a billionaire's daughter
14:37 from online poker to Crypto
16:40 two trades made his year
20:56 the Snapchat trade
27:43 Sydney Sweeney $AEO trade
31:14 posters move markets
41:42 loot and rob
44:23 advice for a 20 year old
47:23 math lore
51:49 why he has no social media
LEE retweeted
Pumpfun is slowly but surely realizing its vision of becoming the main venue for anything interesting happening onchain.
Pump started as a simple bonding curve launchpad built to solve trust and liquidity for new launches.
Since then, we've shipped products like PumpSwap, Creator Fees, the Pumpfun app, Custom Pairs, and Holder Rewards which have all helped turn Pumpfun into the L1 for onchain trading, launchpads, and crypto native experiments.
Our existing infrastructure enables builders to create novel products with custom mechanics. Creator Fees give teams a potential revenue stream, giving them the flexibility they need during their early stage to invest in their own growth or, for example, to support tokens launching on their launchpad.
Creator fees have recently paid well over $20m per week.
For every pump launchpad update, aside from thinking about retail users, we consciously include developers as part of the conversation. Our goals are to make their lives easier, their work rewarding, and provide them with all the tools they need to succeed.
The more products that launch on Pumpfun, the bigger Pumpfun gets, and the more builders we can attract to launch on Pumpfun.
If you’re building anything in crypto and want to access instant attention and liquidity to support the long term success of your product, the best place to do it is on Pumpfun.
LEE retweeted
1/ Huge respect for Dragonfly continuing to invest in the bear market.
But I'm morally obliged to call out sketchy projects gaining momentum.
As a community we must preempt large scale implosions like #FTX or #LUNA that set the industry back years
Bitget may be the next FTX 🧵
I'm thrilled to announce @dragonflyvc's investment in @BitgetGlobal.
Bitget is making crypto more accessible with its innovative derivatives products and a user-centric approach, and we're proud to support their mission and growth.
theblock.co/post/224702/drag…
LEE retweeted
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.
Manual borrows are live on Hyperliquid
Portfolio margin and manual borrows use the same underlying HyperCore infrastructure, with $269M in assets borrowed today.
Users can supply HYPE and BTC as collateral to borrow quote assets (USDC and USDT). Borrowed quote assets pay interest, and supplied quote assets earn interest, with rates set by utilization.
LEE retweeted
Arc Mainnet is live.
Arc launches as the Economic OS for the internet: an open platform for global markets, real-time value movement, tokenized assets, and agentic economic activity.
Arc is more than a blockchain.
It launches as a full-stack financial platform with assets, applications, interoperability, developer infrastructure, and Circle platform services live from day one.
Arc delivers USDC as native gas, deterministic sub-second finality, EVM compatibility, and institutional validators.
It integrates with Arc Studio, App Kits, Arc Portal, Circle Agent Stack, CCTP, Gateway, CPN, and StableFX.
A complete economic platform at genesis.
Arc launches with infrastructure for:
→ Agentic economic workflows
→ Lending and borrowing
→ Trading and liquidity
→ Onchain FX
→ Payments and settlement
→ Tokenized assets
→ Exchanges, wallets, custody, compliance, data, and developer tooling
190+ institutional and ecosystem builders are building across Arc.
LEE retweeted
Everyone should be able to access high-quality financial assets, wherever they live.
That's what tokenization unlocks: taking the best of US capital markets and making them available on a global scale.
The industry is still small compared with global finance, but the advantages are becoming harder to ignore. Traditional market infrastructure was built around fixed hours, closed networks and layers of intermediaries. It was never designed for 24/7 execution, programmable assets, composability or self-custody.
The needs of investors have moved faster than the rails underneath them. We're working to change that.
What gives me confidence is seeing how many different people are now pushing this industry forward. Founders are building new products, LPs are bringing liquidity, traders are finding new uses, and infrastructure teams are making the whole thing work.
It's a privilege to be in the trenches with all of you.
We are still early, and there is a huge amount left to build. It will also take time and effort for the old guard to get onboard. This is worth fighting for.