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($USUAL )Introduction The cryptocurrency market is notorious for its volatility, with prices of digital assets often experiencing sharp fluctuations. Amid this volatility, stablecoins have emerged as a solution to provide stability, often pegged to traditional assets like the US dollar. USUAL, a proposed or existing stablecoin, aims to provide a stable store of value within the crypto ecosystem. This topic explores the potential of USUAL as a stablecoin and evaluates whether it can withstand market fluctuations and fulfill its intended role in the ever-changing crypto landscape. The Role of Stablecoins in the Crypto Ecosystem Stablecoins are digital currencies designed to maintain a stable value by being pegged to an asset, such as a fiat currency (e.g., USD) or a basket of assets. They are seen as a bridge between the volatile world of cryptocurrencies and traditional finance, offering traders, investors, and consumers a safe haven during market instability. Examples of popular stablecoins include Tether (USDT), USD Coin (USDC), and Dai (DAI), all of which aim to minimize price volatility, providing a more predictable and reliable medium of exchange. If USUAL is positioned as a stablecoin, it would have to compete with these well-established players while maintaining its promise of stability and utility. The key question is whether USUAL can achieve its goal of providing a stable value while managing the inherent risks in the crypto market. Key Factors Influencing USUAL’s Stability 1. Pegging Mechanism: The way USUAL is pegged to a stable asset (e.g., fiat currency, commodities, or other financial instruments) is crucial in determining its ability to maintain stability. If USUAL uses a reserve-based system, where real-world assets back its value, it would need a transparent and well-managed reserve to ensure confidence in its stability. Alternatively, if it is algorithmic, its reliance on supply and demand dynamics to maintain its peg could face challenges in times of extreme market fluctuations. 2. Collateralization and Transparency: A well-backed stablecoin needs robust collateralization, which assures users that for every USUAL token issued, an equivalent amount of value is held in reserve. Transparency in the management of these reserves is vital to prevent any doubts or concerns that could lead to market instability. Regulatory scrutiny and auditing of these reserves will be essential to build trust with users and prevent risks such as de-pegging. 3. Market Liquidity and Adoption: USUAL’s ability to maintain its peg also depends on the liquidity in the markets where it is traded. If USUAL becomes widely adopted across exchanges and DeFi platforms, its liquidity will increase, making it easier for the stablecoin to absorb market shocks. Conversely, limited use cases or a lack of liquidity could lead to price deviations and instability. 4. External Market Factors: Even well-collateralized stablecoins are not immune to market forces. Major events like regulatory changes, shifts in global financial markets, or significant fluctuations in the underlying assets (such as fiat currency or commodities) could influence USUAL’s stability. If USUAL is unable to absorb such shocks, its peg may come under pressure, affecting its value. 5. Regulatory Compliance: Stablecoins are facing increasing regulatory scrutiny across the globe. Governments are seeking to establish clear frameworks for their operation, and stablecoins that fail to comply with regulations could face legal hurdles, leading to reduced adoption or even being banned in certain jurisdictions. USUAL’s ability to navigate this evolving regulatory landscape will be critical to its long-term success. Challenges USUAL Might Face in Withstanding Market Fluctuations 1. Market Sentiment and Trust: A stablecoin's reputation is paramount. Even slight doubts about its stability can lead to rapid shifts in market sentiment, causing panic selling or de-pegging. USUAL must establish strong trust within the crypto community, including clear communication regarding its collateralization and management practices. 2. Competing with Established Stablecoins: With dominant players like USDT and USDC holding significant market shares, USUAL will need to offer unique features or advantages to persuade users to switch. This could include better scalability, enhanced privacy features, or integration with emerging blockchain ecosystems. 3. Smart Contract Vulnerabilities: If USUAL operates on a decentralized or blockchain-based platform, it is susceptible to bugs or exploits within its smart contracts. If a vulnerability is discovered, it could compromise the entire system, leading to a loss of value or destabilizing its peg. USUAL's Potential in the Crypto Market If USUAL can overcome the challenges outlined above, it could potentially fill a critical gap in the market for a reliable and transparent stablecoin that provides stability in times of volatility. Its ability to maintain its peg in the face of market fluctuations will depend on a combination of sound economic principles, strong backing, and a transparent governance model. Conclusion The future success of USUAL as a stablecoin hinges on its ability to manage and mitigate the risks associated with market volatility. While the potential for a stable digital asset is clear, the execution of its peg mechanism, transparency, liquidity, and regulatory compliance will determine whether USUAL can maintain its stability amidst the unpredictable nature of the crypto market. If these factors align, USUAL could become a trusted player in the world of stablecoins, helping to bring more stability to the broader cryptocurrency ecosystem. $USUAL

Hyperliquid's Advantages Over CEXs and DEXs Hyperliquid has established itself as the dominant Perp DEX, offering several key advantages over centralized exchanges (CEXs) and decentralized exchanges (DEXs). Advantages Over CEXs 1. *Accessibility and Transparency*: Hyperliquid eliminates KYC procedures, increasing accessibility for global users. It provides full transparency of reserves, allowing public verification. 2. *Agile Asset Listings*: Hyperliquid demonstrates flexibility in listing new assets, particularly long-tail assets, catering to aggressive traders seeking leverage. 3. *Active Yield Opportunities*: The HLP (Hyperliquidity Provider) vault offers an attractive option for traders to park funds, generating fee revenue and additional trading gains. Key Statistics - HLP vault year-to-date generation: $38M - USDC locked in HLP vault: $172M These advantages collectively position Hyperliquid as a formidable alternative to traditional centralized exchanges, offering enhanced transparency, accessibility, and innovative financial products.

Hyperliquid, a decentralized trading platform, has demonstrated significant growth and innovation, positioning it as a notable player in the cryptocurrency market. Analysts project a positive trajectory for Hyperliquid's native token, HYPE, with forecasts suggesting a rise to €71.87 by the end of 2024 and further increases to €85.07 in 2025, €119.43 in 2026, and €150.76 by the end of 2027. The platform's unique features, such as a fully on-chain order book and decentralized trading capabilities, have attracted substantial user engagement. Recent data indicates that Hyperliquid's trading volume accounts for over 50% of the perpetual contract decentralized exchange (DEX) market, with open interest representing about 10% of Binance's. This dominance is expected to grow as the platform continues to innovate and expand its offerings. Additionally, Hyperliquid has experienced significant capital inflows, with reports of $1 billion in USDC and a total value locked (TVL) of $3.2 billion. This financial growth underscores the platform's increasing liquidity and user trust. However, it's important to consider potential risks, including validator centralization, ecosystem quality, DeFi innovation challenges, regulatory changes, and market volatility. Investors should conduct thorough research and assess their risk tolerance before making investment decisions. In summary, Hyperliquid's innovative approach and strong market presence suggest a promising future, with anticipated growth in token value and platform adoption. Nonetheless, potential investors should remain aware of the associated risks and market dynamics.

Hyperliquid's explosive growth, fueled by the HYPE token launch and USDC inflows, has indeed painted an optimistic picture for the platform. The sharp rise in Total Value Locked (TVL) and price reflects investor confidence and heightened activity, with TVL surging to over $3.4 billion and the HYPE token price reaching $30 ¹ ². However, caution is warranted due to the steep trajectory. To sustain this momentum, Hyperliquid must focus on maintaining liquidity, expanding use cases for HYPE, and attracting new participants to its ecosystem. The next few weeks will be critical in determining whether this growth is a short-term spike or the beginning of long-term success. Several factors contribute to Hyperliquid's growth potential: - *Exchange Development Opportunities*: Hyperliquid dominates the perpetual contract DEX market, with recent trading volume accounting for over 50% ³. - *EVM Ecosystem Opportunities*: The upcoming launch of HyperEVM, an Ethereum-compatible chain, is expected to enhance capital efficiency and give rise to innovative DeFi applications ³. - *Revenue Composition and Valuation*: Hyperliquid's revenue model, which includes token buybacks and ecosystem vaults, may contribute to its growth potential ³. Overall, while Hyperliquid's growth is promising, it's essential to monitor the platform's progress and adjust strategies accordingly to ensure long-term success.

$HYPE Hyperliquid runs with an EVM bridge that is secured by the same validator set as the Hyperliquid L1. Deposits to the bridge are signed by validators on the L1 and are credited when more than 2/3 of the staking power has signed the deposit. Withdrawals from the L1 are immediately escrowed on the L1, and validators sign the withdrawal as separate L1 transactions. When 2/3 of the staking power has signed the L1 withdrawal, an EVM transaction can be sent to the bridge to request the withdrawal. After a withdrawal is requested, there is a dispute period during which the bridge can be locked for a malicious withdrawal that does not match the L1. Cold wallet signatures of 2/3 of the stake-weighted validator set are required to unlock the bridge. After the dispute period, finalization transactions are sent, which distribute the USDC to the corresponding destination addresses. There is a similar mechanism to maintain the set of active validators and their corresponding stake on the bridge contract. Withdrawals do not require any Arbitrum ETH from the user. Instead, a withdrawal fee of 1 USDC is paid by the user on the L1 to cover the Arbitrum gas costs of the validators. The bridge and its logic in relation to the L1 staking have been audited by Zellic. See the Hyperliquid github repository for the full bridge code, and the Audits section for the audit reports.$HYPE