<Why the crypto market is amazing>
Although everyone might have forgotten, let's think back to two weeks ago. James, who was famous for high-leverage long/short trades on Hyperliquid, was liquidated consecutively. The problem revealed here was that all trades on @HyperliquidX are tracked on-chain. Even @cz_binance mentioned that a dark pool is needed for Puff DEX.
But yesterday, @celestia and @hibachi_xyz proposed a solution. And it only took two weeks. What if the Central Limit Order Books (CLOBs), the system where we place limit orders, are verified by @SuccinctLabs using ZK Proof and stored in Celestia's private DA? This way, we can maintain the on-chain characteristics like Hyperliquid while ensuring privacy. It's essentially addressing the shortcomings that were previously seen on Hyperliquid.
Every time I see something like this, I feel that the crypto market is truly amazing for being able to come up with solutions in such a short time when problems arise.
Introducing the Wynn Upgrade
A privacy-first architecture for Hibachi, built with @celestia underneath and @SuccinctLabs
A high-performance CLOB with ZK proofs, the first to publish encrypted state on Celestia Private DA
if we ever rug (we won’t), you can still get your funds out
108
19.93K
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.