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24 posts tagged with "DEX"

Decentralized exchanges

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Hyperliquid HIP-4 Is Live: How Prediction Markets Just Got a Perp Exchange Backbone
·Dora Noda·9 min

Hyperliquid HIP-4 Is Live: How Prediction Markets Just Got a Perp Exchange Backbone

Hyperliquid's HIP-4 brings native binary outcome contracts to the world's largest decentralized perp exchange — unified margin, zero open fees, and a CLOB processing 200,000 orders per second. Here is what it means for Polymarket, Kalshi, and the $29B/month prediction market sector.

Hyperliquid
prediction markets
DeFi
trading
+1
Hyperliquid HIP-4 Goes Live: How a Zero-Fee Order Book Just Flipped the Prediction Market Wars
·Dora Noda·9 min

Hyperliquid HIP-4 Goes Live: How a Zero-Fee Order Book Just Flipped the Prediction Market Wars

Hyperliquid's HIP-4 outcome markets launched on mainnet May 2, 2026 with zero fees to open, directly targeting Polymarket and Kalshi as the prediction market industry crosses $8.6B in monthly volume. A single design decision could redraw a $24 billion industry.

Hyperliquid
DeFi
DEX
trading
+1
Pi Network's Protocol 23: 60M Pioneers Meet Smart Contracts on May 18
·Dora Noda·10 min

Pi Network's Protocol 23: 60M Pioneers Meet Smart Contracts on May 18

Pi Network's Protocol 23 activates smart contracts across 421K nodes on May 18, 2026, just as 184.5M PI tokens unlock — testing whether 60M mobile-first pioneers can drive consumer-Web3 demand.

smart-contracts
Layer-1
DEX
ecosystem
+1
Hyperliquid HIP-4 Day One: How a Single BTC Pair Outran Polymarket in Six Hours
·Dora Noda·9 min

Hyperliquid HIP-4 Day One: How a Single BTC Pair Outran Polymarket in Six Hours

Hyperliquid's HIP-4 outcome markets went live on May 2, 2026 and overtook Polymarket on a single BTC pair within six hours — here is what zero-fee opens, USDH collateral, and unified margin actually unlocked.

Hyperliquid
prediction markets
DeFi
DEX
+1
Variational's Zero-Fee 450-Market Perp DEX Challenges Hyperliquid
·Dora Noda·9 min

Variational's Zero-Fee 450-Market Perp DEX Challenges Hyperliquid

Variational launches a unified USDC cross-margin perp DEX with 450+ markets across crypto, equities, and commodities, challenging Hyperliquid HIP-3, Ostium, and Kraken xStocks with a 0% fee model funded by spread economics.

DeFi
DEX
Hyperliquid
RWA
+1
Yellow Network Goes Live: Can State Channels Finally Out-Scale the Rollup Era?
·Dora Noda·10 min

Yellow Network Goes Live: Can State Channels Finally Out-Scale the Rollup Era?

Yellow Network's March 2026 mainnet launch puts state-channel clearing back on the table as a serious cross-chain scaling primitive — here is how its Layer-3 architecture stacks up against LayerZero, CCIP, and the rollup status quo.

Layer-3
Ethereum
cross-chain
interoperability
+1
DeFi Funding Just Surpassed CeFi for the First Time Ever — And It's Not Close
·Dora Noda·11 min

DeFi Funding Just Surpassed CeFi for the First Time Ever — And It's Not Close

Q1 2026 marks the first quarter ever where DeFi pulled in more venture capital than CeFi, with $2.083 billion deployed into perpetual DEXs, prediction markets, and intent-based protocols — a structural inversion of the 2021-2024 pattern.

DeFi
fundraising
investment-research
DEX
+1
Hyperliquid HIP-3 Eats Wall Street: How $2.3B in Builder-Deployed Perps Made Weekend Oil Trading a DEX Monopoly
·Dora Noda·10 min

Hyperliquid HIP-3 Eats Wall Street: How $2.3B in Builder-Deployed Perps Made Weekend Oil Trading a DEX Monopoly

Hyperliquid's permissionless HIP-3 perpetual market framework hit $2.3B in open interest in April 2026, with oil, gold, and tokenized equities now driving more weekend volume than CME can serve.

Hyperliquid
DEX
DeFi
RWA
+1
Inside the SEC's DeFi Front-End Exemption: 11 Conditions, 5-Year Sunset, and the New US Crypto UX Map
·Dora Noda·12 min

Inside the SEC's DeFi Front-End Exemption: 11 Conditions, 5-Year Sunset, and the New US Crypto UX Map

On April 13, 2026, the SEC's Division of Trading and Markets exempted certain crypto wallets and DEX front-ends from broker-dealer registration. Here is how the 11 conditions, the 5-year sunset, and the tokenized-securities scope reshape DeFi UX in the United States.

regulation
DeFi
compliance
DEX
+1
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