UltraBTC price

I’m back with a full review on @hemixyz. Hemi is an Ethereum rollup that supports a number of wrapped bitcoin assets. Summary below & full review threaded 👇 Hemi has 4,061~ BTC-backed tokens minted on its network. Users face some key trust assumptions: Main risks In my opinion, the main risks with Hemi are: - BTC-backed tokens on the network are secured by centralized custodians/entities. - An alternative data availability is responsible for making the data available. Users trust Ethereum full nodes to make the data available to advance Hemi’s state - A centralized sequencer can have liveness failures or censor users - A centralized proposer can submit a malicious state and drain the bridge escrowing wBTC and tBTC - Key systems and bridge escrow contracts are immediately upgradable by a ⅜ multisig Design tl;dr Hemi is an Ethereum rollup built on the OP stack. It has a centralized sequencer that is responsible for ordering Hemi’s transactions into blocks. After these blobs, containing Hemi blocks, are submitted to Ethereum, its full nodes update the state. After the state is updated, a centralized proposer submits the state root to a bridge program on Ethereum. This bridge program is not secured by any proving system. Hemi also employs a validator set in what it calls “proof-of-proof consensus”. After the latest state root is generated, this validator set races to submit the state root to bitcoin. This “anchors” Hemi’s state to bitcoin. Hemi has two official bridge programs. They call these “tunnels”. One is a (what we believe) a centralized bridge program securing BTC backing HemiBTC, a bitcoin-backed ERC-20 asset on Hemi. There is no documentation on who the signers are, or what threshold signature scheme this bridge program may be leveraging. It additionally escrows various bitcoin-backed assets in a standard Ethereum escrow contract. This contract is not secured by any proving system. There are also a number of other wrapped bitcoin assets available on Hemi. These assets are ultimately secured by centralized custodians and have been bridged to the network through a third party provider. Connection to bitcoin Hemi is connected to bitcoin through its proof-of-proof validator set. After a validator posts a state root to bitcoin, Hemi network participants ultimately consider the state finalized. But since its official bridge program does not (from our vantage point) have a public federation, it is considered an “integrated chain” and not a “sidesystem”. What type of layer is it? My opinion In my opinion, Hemi is a sovereign network that inherits security from Ethereum. Its Ethereum bridges do not inherit this security as there is no proving system and the bridge contracts are immediately upgradable. Its bitcoin-backed assets are ultimately secured by centralized custodians or federations. I’m unsure of the security guarantees “bitcoin finality” gives you here. I believe the sequencer has an incentive to not reorg the state to continue earning fees and grow its user base. Regardless, even if it does give you stronger finality guarantees, it wouldn’t change my opinion on what type of network it is: A sovereign network that inherits security to Ethereum and anchors its state to bitcoin. Additional context Unlike its testnet, I couldn’t find any dashboards showing activity related to proof-of-proof validators submitting state updates to bitcoin.

So @prjx_hl launched on @HyperliquidX today & pulled $22.2M TVL in the first 17 hours. Built as a DeFi platform specifically for the HyperEVM ecosystem. What makes it different? > Simple user experience without unnecessary complexity > Daily point distribution of 1M tokens with bonus multipliers for early participants (will lead to airdrop) > Community-driven approach from launch, no VC backing While other ecosystems like Solana & Sui have gained attention, @prjx_hl doubles down on EVM infra. The team believes EVM still offers the most opportunities in crypto. First product is the HyperEVM DEX. Future plans include EVM aggregation tools & routing infra. 15M in trading volume alongside the TVL numbers. Users can earn points through liquidity provision and platform usage. @prjx_hl a bet that Hyperliquid’ growing ecosystem can support native dApps as $HYPE grows.

.@prjx_hl in 15H: +22M TVL +13M volume +26k in fees distributed Pretty impressive👀 Added to my LP's, going with a 'low-risk' strategy so: - HYPE/LHYPE - HYPE/USDT0 - HYPE/UBTC 10% boost via: More info 👇 Hyperliquid

Put your $HYPE and $UBTC to work on Ramses, the pool currently has $179k in 24 hour volume already. We are just getting started on Hyperliquid 🔥

In the last 12 hrs, $2.25m deposited in @0xHyperBeat strats on @RumpelLabs People like high real yields Turn points into gold