tradeXYZ

TradeXYZ

2026-08-05 14:11:15

TradeXYZ First Uses HIP-3 Revenue to Buy HYPE, Then a New Ticker

According to monitoring by Hyperliquid News, TradeXYZ has used its HIP-3 revenue to buy HYPE for the first time. The purchase was for 2,000 HYPE, worth around $108,000, and those HYPE were then used to acquire a new ticker. Earlier, fee income generated by Unit was converted into HYPE and used to buy Unit's spot ticker as well as TradeXYZ's HIP-3 code. The latest transaction shows HIP-3 revenue being routed into HYPE before being deployed toward a newly bought code.

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HyperliquidNe

2026-08-02 21:27:34

tradexyz allocates $25.25 million in revenue to Assistance Fund for HYPE buybacks

HyperliquidNews said in a post on X that tradexyz has generated $25.25 million in revenue, with an equal amount allocated to the Assistance Fund. The funds are set to be used for HYPE buybacks. The update did not include additional details beyond the revenue figure, the allocation amount, and the stated purpose of the fund. Odaily reported the statement as a 7x24 newsflash.

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Hyperliquid

2026-08-01 22:58:58

Why Trade[XYZ] Came to Dominate Hyperliquid HIP-3 Trading Volume

A long-form article republished by WuBlockchain argues that Trade[XYZ] has become the dominant force inside Hyperliquid’s HIP-3 framework, accounting for roughly 98% of HIP-3 trading volume as of June 2026. The piece, written by Mohit Pandit and translated by TechFlow, frames Trade[XYZ] not as an existential threat to Hyperliquid, but as a value-accretive operator that built liquid perpetual markets for equities, indices, commodities, and FX while leaving core protocol infrastructure, users, matching activity, and buyback-linked fee flows with Hyperliquid. The article says Trade[XYZ] built that market in eight months and presents it as evidence that HIP-3 can support professionally run, institution-grade non-crypto perpetuals. It also claims that about 97% of Trade[XYZ]-related volume was executed through Hyperliquid’s own app and API rather than Trade[XYZ]’s native frontend, and that HIP-3 traders generated about $37.9 million in total fees, with roughly $14.3 million flowing to the protocol side for HYPE buybacks. The report also details launch speed, order book depth, market-maker participation, risk management tooling, fee structures, and the argument that Hyperliquid should not directly list these markets itself, in part because of regulatory exposure.

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MU

2026-07-31 17:58:37

MU tops $20 billion in volume, becoming tradexyz’s seventh HIP-3 market to hit the mark

MU has passed $20 billion in trading volume, according to a post from HyperliquidNews on X cited by Odaily. With that result, MU became the seventh HIP-3 market on tradexyz to reach the $20 billion milestone. The source material did not provide additional details such as the time period covered, a breakdown of the volume, or other market statistics. The update was published as a brief market item by Odaily.

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TradeXYZ

2026-07-31 09:22:35

How likely is TradeXYZ to leave Hyperliquid after taking over most of the HIP-3 market?

TradeXYZ’s growing weight inside Hyperliquid has turned a niche governance-style debate into a broader market question. According to the Odaily article, TradeXYZ now accounts for more than 93% of total HIP-3 volume and 99.7% of open interest on Hyperliquid’s HIP-3 market, giving it outsized influence over one of the exchange’s fastest-growing narratives: onchain RWA perpetuals. The article argues that fee capture is the clearest reason TradeXYZ might one day consider going independent. HIP-3 fees are split 50/50 with Hyperliquid, and Odaily says TradeXYZ has generated nearly $50 million in total fee revenue so far, meaning it could take home at most about $25 million under the current arrangement. That imbalance, in the article’s view, could become a pressure point if TradeXYZ seeks a better split and negotiations fail. Still, Odaily stops short of calling a break likely. It points to three restraints: Hyperliquid’s trading infrastructure and performance, Hyperliquid’s role as the main distribution channel for TradeXYZ liquidity, and the long-standing trust between the two teams’ founders. If a separation did happen, the article argues, the outcome would probably hurt both sides rather than create a clear winner, with Hyperliquid losing a major growth narrative and TradeXYZ having to rebuild infrastructure and user habits from scratch.

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Hyperliquid

2026-07-29 02:33:26

A Single $868 Trade Helped Trigger Liquidations in Hyperliquid’s SK Hynix Perpetual Market

A single pre-market trade in South Korea set off a sharp move in Hyperliquid’s SK Hynix-linked perpetual market and raised fresh questions about oracle design, external price handovers, and liquidation safeguards. On the morning of July 28, one share of SK Hynix changed hands on Korea’s NXT pre-market venue at KRW 1,272,000, or about $868. That print later entered TradeXYZ’s pricing system, sending the SKHX perpetual from $1,128.2 to a low of $927 within one minute. According to the article, the fallout spread quickly. Within less than three minutes, hundreds of accounts were taken over by the system. Over the next four hours, liquidation size climbed to roughly $80 million. HyperInsight’s address-level tally put short-term liquidation notional at about $79.398 million, while open interest fell from $481 million to $331 million. The report also highlighted transfers to a special address, 0x4000000000000000000000000000000000000001, described more cautiously as a system backstop account used by HyperCore in the SKHX event. The piece contrasts Hyperliquid’s setup with Binance, which did not switch to external Korean pre-market quotes at 7:00 a.m. Beijing time and saw only a limited index move in the same window. Its broader argument is not that price discovery failed, but that a real trade from a thin market was allowed to travel too directly into a high-leverage liquidation framework.

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Hyperliquid

2026-07-27 21:58:21

TradeXYZ contributed $215,000 to $241,800 of Hyperliquid revenue in the past 24 hours

HyperliquidNews said in a post on X that TradeXYZ generated $176,500 in trading fee revenue over the past 24 hours, with an equal amount allocated to the Assistance Fund. Priority fees, mainly from the TradeXYZ market, added another $38,500 to $65,300. Over the same period, Hyperliquid posted total protocol revenue of $1.5972 million. Of that amount, TradeXYZ contributed between $215,000 and $241,800, accounting for 13.46% to 15.14% of the protocol total. The figures outline TradeXYZ’s share of Hyperliquid’s revenue mix during the latest 24-hour window.

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TradeXYZ

2026-07-27 09:14:25

TradeXYZ tracked ChangXin Memory's A-share IPO closely before the open, then slipped into a discount

ChangXin Memory Technology debuted on Shanghai’s STAR Market on July 27 and set multiple A-share records on its first trading day. The company opened with a market capitalization of RMB 3.31 trillion and ended the day up 465.82%, with a closing market value of RMB 3.28 trillion, according to Odaily. In parallel, the listing became a live test of TradeXYZ’s price discovery for a China A-share name. At the market open, ChangXin’s A-share price of RMB 49.5 translated to about $7.31 using the RMB 6.77 exchange rate cited in the report, while the CXMT pre-IPO contract on TradeXYZ was quoted at $7.12, leaving a gap of less than $0.2. After the stock began trading and the contract shifted from a pre-IPO product to a standard perpetual, the mark price on TradeXYZ temporarily traded at a discount to the A-share spot market. Odaily attributed that mismatch to the oracle transition from an internal pricing model to an external oracle that tracks the stock, with convergence capped to controlled moves. The report also highlighted whale positioning on Hyperliquid, including a major short address sitting on a paper loss of about $1.39 million at press time.

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