{"id":748966,"date":"2026-03-18T19:11:47","date_gmt":"2026-03-18T11:11:47","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=748966"},"modified":"2026-03-18T19:11:47","modified_gmt":"2026-03-18T11:11:47","slug":"hyperliquid%e5%88%9b%e5%a7%8b%e4%ba%ba%ef%bc%9a%e5%8a%a0%e5%af%86%e8%a1%8c%e4%b8%9a%e4%b8%8d%e7%bc%ba%e4%ba%ba%e6%89%8d%ef%bc%8c%e7%bc%ba%e7%9a%84%e6%98%af%e9%87%91%e8%9e%8d%e4%b8%bb%e6%9d%83%e7%9a%84","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=748966","title":{"rendered":"Hyperliquid\u521b\u59cb\u4eba\uff1a\u52a0\u5bc6\u884c\u4e1a\u4e0d\u7f3a\u4eba\u624d\uff0c\u7f3a\u7684\u662f\u91d1\u878d\u4e3b\u6743\u7684\u6267\u884c\u529b"},"content":{"rendered":"<article>\n<p>\u64b0\u6587\uff1aJeff Yan<\/p>\n<p>\u7f16\u8bd1\uff1a\u5434\u8bf4<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%8c%ba%e5%9d%97%e9%93%be\" title=\"View all posts in \u533a\u5757\u94fe\" target=\"_blank\" class=\"tag_link\">\u533a\u5757\u94fe<\/a><\/p>\n<p>\u539f\u6587\u6807\u9898\uff1a\u5bf9\u8bddHyperliquid\u521b\u59cb\u4eba\uff1a\u52a0\u5bc6\u884c\u4e1a\u4e0d\u7f3a\u4eba\u624d\uff0c\u7f3a\u7684\u662f\u5bf9\u201c\u91d1\u878d\u4e3b\u6743\u201d\u7684\u656c\u754f\u4e0e\u6267\u884c\u529b<\/p>\n<hr\/>\n<p>\u672c\u671f\u5185\u5bb9\u4e3a When Shift Happens \u64ad\u5ba2\u4e13\u8bbf Hyperliquid \u521b\u59cb\u4eba\u517c CEO Jeff Yan \u6587\u5b57\u7a3f\u3002Jeff \u56de\u987e\u4e86 TGE\uff08<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%bb%a3%e5%b8%81\" title=\"View all posts in \u4ee3\u5e01\" target=\"_blank\" class=\"tag_link\">\u4ee3\u5e01<\/a>\u751f\u6210\u4e8b\u4ef6\uff09\u5e26\u6765\u7684\u8d22\u5bcc\u6548\u5e94\u4e0e\u8d23\u4efb\u8f6c\u53d8\uff0c\u9610\u8ff0\u4e86 Hyperliquid \u300c\u65e0\u5185\u76d8\u3001\u65e0\u81ea\u7531\u88c1\u91cf\u6743\u300d\u7684\u6838\u5fc3\u8bbe\u8ba1\u54f2\u5b66\uff0c\u4ee5\u53ca\u4e3a\u4f55\u575a\u6301\u5c06\u534f\u8bae\u8d39\u7528\u81ea\u52a8<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9b%9e%e8%b4%ad\" title=\"View all posts in \u56de\u8d2d\" target=\"_blank\" class=\"tag_link\">\u56de\u8d2d<\/a>\u5e76\u9500\u6bc1\uff0c\u800c\u975e\u4eba\u4e3a\u62e9\u65f6\u64cd\u4f5c\u3002<\/p>\n<p>\u4ed6\u91cd\u70b9\u89e3\u91ca\u4e86 Hyperliquid \u5e76\u975e\u4e00\u5bb6 \u300c\u52a0\u5bc6\u516c\u53f8\u300d\uff0c\u800c\u662f\u4ee5\u52a0\u5bc6\u6280\u672f\u5347\u7ea7\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u7684 \u300c\u91d1\u878d\u534f\u8bae\u300d\uff0c\u76ee\u6807\u662f \u300chousing all of finance\u300d \u2014 \u2014 \u8ba9\u6240\u6709\u91d1\u878d\u6d3b\u52a8\u5728\u4e00\u4e2a\u53ef\u7ec4\u5408\u3001\u65e0\u8bb8\u53ef\u3001\u900f\u660e\u7684\u94fe\u4e0a\u7cfb\u7edf\u4e2d\u5b8c\u6210\u3002\u540c\u65f6\uff0cJeff \u8be6\u7ec6\u89e3\u6790\u4e86 HyperEVM\u3001HIP-3\uff08Permissionless Perps\uff09\u3001Outcome Markets\uff08\u7ed3\u679c\u5e02\u573a\uff09\u4ee5\u53ca\u8054\u76df<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%a8%b3%e5%ae%9a%e5%b8%81\" title=\"View all posts in \u7a33\u5b9a\u5e01\" target=\"_blank\" class=\"tag_link\">\u7a33\u5b9a\u5e01<\/a> USDH\u3001Kinetiq \u8d28\u62bc\u3001Hyperlend \u501f\u8d37\u7b49\u5173\u952e\u6a21\u5757\u5982\u4f55\u5171\u540c\u6784\u5efa\u4e00\u4e2a\u53bb\u4e2d\u5fc3\u5316\u3001\u53ef\u6269\u5c55\u3001\u53ef\u7ec4\u5408\u7684\u94fe\u4e0a\u91d1\u878d\u4f53\u7cfb\u3002<\/p>\n<p>\u5728\u56de\u5e94\u5916\u754c\u8d28\u7591\u65f6\uff0c\u4ed6\u5f3a\u8c03 Hyperliquid \u4e0d\u662f\u516c\u53f8\u5f0f\u8fd0\u8425\uff0c\u4e0d\u5b58\u5728 \u300c\u62e9\u65f6\u56de\u8d2d\u300d \u6216 \u300c\u4eba\u4e3a\u5e72\u9884\u300d\uff0c\u6240\u6709\u673a\u5236\u5199\u5165\u94fe\u4e0a\u903b\u8f91\u6267\u884c\u3002\u4ed6\u8fd8\u6307\u51fa\uff0c\u771f\u6b63\u7684\u7ade\u4e89\u4e0d\u5728\u4e8e\u77ed\u671f\u6570\u636e\uff0c\u800c\u5728\u4e8e\u662f\u5426\u80fd\u5efa\u7acb\u4e00\u4e2a\u65e0\u9700\u4fe1\u4efb\u3001\u5168\u7403\u53ef\u8bbf\u95ee\u7684\u91d1\u878d\u7cfb\u7edf\u3002<\/p>\n<p>\u6574\u573a\u5bf9\u8bdd\u5448\u73b0\u51fa\u4e00\u4e2a\u6838\u5fc3\u547d\u9898\uff1a\u5728 AI \u52a0\u901f\u53d1\u5c55\u7684\u65f6\u4ee3\uff0c\u5982\u679c\u91d1\u878d\u7cfb\u7edf\u4e0d\u5347\u7ea7\u4e3a\u94fe\u4e0a\u3001\u53ef\u7f16\u7a0b\u3001\u5f00\u653e\u7684\u67b6\u6784\uff0c\u672a\u6765\u7684\u91d1\u878d\u4e16\u754c\u91cc\u5c06\u6ca1\u6709\u4eba\u7c7b\u7684\u4f4d\u7f6e\u3002<\/p>\n<h2>\u5173\u4e8e\u8d22\u5bcc\u6548\u5e94\u4e0e\u957f\u671f\u4e3b\u4e49<\/h2>\n<h4>\u8c08\u65b0\u52a0\u5761<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%88%9b%e4%b8%9a\" title=\"View all posts in \u521b\u4e1a\" target=\"_blank\" class=\"tag_link\">\u521b\u4e1a<\/a>\u73af\u5883<\/h4>\n<p>Kevin\uff1a\u4f60\u600e\u4e48\u770b\u65b0\u52a0\u5761\uff1f<\/p>\n<p>Jeff\uff1a\u5b83\u975e\u5e38\u4e0d\u9519\u3002\u786e\u5b9e\u662f\u4e00\u4e2a\u5f88\u9002\u5408\u505a\u4e8b\u3001\u505a\u9879\u76ee\u7684\u5730\u65b9\u3002\u8fd9\u91cc\u975e\u5e38\u5b89\u5168\uff0c\u4e5f\u5f88\u73b0\u4ee3\u5316\uff0c\u57fa\u7840\u8bbe\u65bd\u8fd0\u8f6c\u987a\u7545\u3002\u5f88\u591a\u4eba\u4f1a\u8bf4\u5b83\u5f88\u300c\u65e0\u804a\u300d\uff0c\u89c9\u5f97\u8fd9\u662f\u7f3a\u70b9\uff0c\u4f46\u5bf9\u6211\u6765\u8bf4\uff0c\u8fd9\u5176\u5b9e\u662f\u4e00\u4e2a\u975e\u5e38\u5927\u7684\u4f18\u70b9\u3002\u5728\u8fd9\u91cc\u4f60\u53ef\u4ee5\u4e13\u5fc3 Build\uff0c\u6ca1\u6709\u592a\u591a\u5e72\u6270\u3002\u5b83\u662f\u4e00\u4e2a\u975e\u5e38\u9002\u5408\u57cb\u5934\u505a\u4e8b\u7684\u5730\u65b9\u3002<\/p>\n<p>\u662f\u5426\u9884\u671f\u5230\u5982\u6b64\u89c4\u6a21\u7684\u8d22\u5bcc\u521b\u9020<\/p>\n<p>Kevin\uff1a\u4f60\u5f53\u65f6\u9884\u671f\u4f1a\u4ea7\u751f\u8fd9\u4e48\u5927\u89c4\u6a21\u7684\u8d22\u5bcc\u6548\u5e94\u5417\uff1f<\/p>\n<p>Jeff\uff1a\u5e76\u6ca1\u6709\u9884\u671f\u5230\u3002\u8bf4\u5b9e\u8bdd\uff0c\u6211\u5176\u5b9e\u5f88\u5c11\u53bb\u5177\u4f53\u8bbe\u60f3\u67d0\u4e2a\u65f6\u95f4\u70b9\u4f1a\u8fbe\u5230\u4ec0\u4e48\u7ed3\u679c\u3002\u6211\u4eec\u66f4\u591a\u53ea\u662f\u4e13\u6ce8\u4e8e\u628a\u4e8b\u60c5\u505a\u5230\u6700\u597d\u3002\u6211\u4eec\u6e05\u695a\u81ea\u5df1\u7684\u65b9\u5411\uff0c\u4e5f\u6e05\u695a\u81ea\u5df1\u5728\u6784\u5efa\u4ec0\u4e48\uff0c\u4f46\u6211\u4e0d\u4f1a\u5199\u4e0b\u6765\uff0c\u6bd4\u5982\u300c\u4e00\u4e2a\u6708\u4e4b\u540e\u5982\u679c\u8fbe\u5230\u67d0\u4e2a\u91cf\u5316\u6307\u6807\u5c31\u5f88\u597d\u300d\u3002\u8fd9\u5e76\u4e0d\u662f\u6211\u7684\u505a\u4e8b\u65b9\u5f0f\u3002<\/p>\n<p>\u56e0\u4e3a\u4f5c\u4e3a\u8d21\u732e\u8005\uff0c\u6709\u592a\u591a\u4e8b\u60c5\u4e0d\u5728\u6211\u4eec\u7684\u63a7\u5236\u8303\u56f4\u4e4b\u5185\u3002\u6211\u4eec\u9700\u8981\u4e13\u6ce8\u4e8e\u628a\u8be5\u505a\u7684\u4e8b\u60c5\u505a\u597d\u3002\u7ed3\u679c\u5f53\u7136\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u53d6\u51b3\u4e8e\u6211\u4eec\u7684\u52aa\u529b\uff0c\u4f46\u540c\u65f6\u4e5f\u53d7\u5230\u5f88\u591a\u5916\u90e8\u56e0\u7d20\u7684\u5f71\u54cd\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u6211\u786e\u5b9e\u5bf9\u540e\u6765\u90a3\u79cd\u538b\u5012\u6027\u7684\u79ef\u6781\u53cd\u9988\u611f\u5230\u60ca\u8bb6\u3002\u542c\u5230\u6709\u4eba\u8bf4\uff0c\u300c\u8fd9\u5728\u52a0\u5bc6\u884c\u4e1a\u91cc\u5f88\u7f55\u89c1\u300d\u300c\u8fd9\u624d\u662f\u672c\u8be5\u53d1\u751f\u7684\u4e8b\u60c5\uff0c\u53ea\u662f\u5f88\u5c11\u770b\u5230\u771f\u6b63\u7684\u4f8b\u5b50\u300d\uff0c\u90a3\u79cd\u611f\u89c9\u975e\u5e38\u597d\u3002\u8fd8\u6709\u4eba\u8bf4\uff0cHyperliquid \u5c55\u793a\u4e86\u8fd9\u4e2a\u884c\u4e1a\u53ef\u80fd\u5b9e\u73b0\u7684\u79ef\u6781\u8def\u5f84\u3002<\/p>\n<p>\u8fd9\u7ed9\u6211\u5e26\u6765\u4e86\u5f88\u5927\u7684\u6ee1\u8db3\u611f\u3002\u56e0\u4e3a\u6211\u662f\u771f\u6b63\u76f8\u4fe1\u8fd9\u79cd\u6a21\u5f0f\uff0c\u4e5f\u76f8\u4fe1\u81ea\u7531\u5e02\u573a\u7684\u4eba\u3002\u5916\u754c\u6709\u5f88\u591a\u4f8b\u5b50\u88ab\u62ff\u6765\u8bc1\u660e\u300c\u8fd9\u79cd\u6a21\u5f0f\u884c\u4e0d\u901a\u300d\u3002\u800c\u5f53\u4f60\u6210\u4e3a\u4e00\u4e2a\u53ef\u4ee5\u53cd\u9a73\u8fd9\u4e9b\u8d28\u7591\u7684\u6848\u4f8b\u65f6\uff0c\u90a3\u79cd\u611f\u89c9\u771f\u7684\u5f88\u597d\u3002<\/p>\n<h4>\u52a0\u5bc6\u884c\u4e1a\u4eba\u624d\u9519\u914d\u3001\u5e94\u8be5\u300c\u505a\u6b63\u786e\u7684\u4e8b\u300d\u6539\u53d8\u884c\u4e1a\u5f62\u8c61<\/h4>\n<p>Kevin\uff1a\u663e\u7136\uff0c\u4f60\u4eec\u505a\u5230\u7684\u4e8b\u60c5\u975e\u5e38\u96be\u3002\u4f46\u4f60\u89c9\u5f97\u5728\u52a0\u5bc6\u884c\u4e1a\u91cc\uff0c\u662f\u5426\u6709\u8db3\u591f\u591a\u7684\u4eba\u5728\u5c1d\u8bd5\u7528\u6b63\u786e\u7684\u65b9\u5f0f\u505a\u6b63\u786e\u7684\u4e8b\u60c5\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u8ba4\u4e3a\uff0c\u5728\u52a0\u5bc6\u884c\u4e1a\u91cc\uff0c\u771f\u6b63\u300c\u80fd\u591f\u88ab\u6784\u5efa\u51fa\u6765\u7684\u4e1c\u897f\u300d\u548c\u300c\u6b63\u5728\u5c1d\u8bd5\u6784\u5efa\u5b83\u7684\u4eba\u300d\u4e4b\u95f4\uff0c\u5b58\u5728\u4e00\u79cd\u666e\u904d\u7684\u9519\u914d\u3002<\/p>\n<p>\u8fd9\u5f88\u5927\u7a0b\u5ea6\u4e0a\u6e90\u4e8e\u52a0\u5bc6\u884c\u4e1a\u957f\u671f\u4ee5\u6765\u7684\u8d1f\u9762\u58f0\u8a89\u3002\u4f60\u53ef\u4ee5\u5bf9\u6bd4\u4e00\u4e0b\u50cf AI \u8fd9\u6837\u7684\u9886\u57df\uff0c\u6216\u8005\u5728 AI \u4e4b\u524d\u7684\u4e00\u4e9b\u4f20\u7edf\u91d1\u878d\u3001\u79d1\u6280\u9879\u76ee\u3002\u5982\u679c\u4e00\u4e2a\u4eba\u5f88\u6709\u6f5c\u529b\uff0c\u6bd5\u4e1a\u4e8e\u4e0d\u9519\u7684\u5b66\u6821\uff0c\u6216\u8005\u672c\u8eab\u975e\u5e38\u6709\u624d\u534e\uff0c\u60f3\u53bb\u521b\u9020\u4e00\u4e9b\u771f\u6b63\u6709\u4ef7\u503c\u7684\u4e1c\u897f \u2014 \u2014 \u5728\u4eca\u5929\uff0c\u6211\u8ba4\u4e3a\u5f88\u591a\u8fd9\u6837\u7684\u4eba\u751a\u81f3\u90fd\u4e0d\u4f1a\u8ba4\u771f\u8003\u8651\u8fdb\u5165\u52a0\u5bc6\u884c\u4e1a\u3002<\/p>\n<p>\u56e0\u4e3a\u8fd9\u4e2a\u884c\u4e1a\u5145\u65a5\u7740\u592a\u591a\u8d1f\u9762\u7684\u6848\u4f8b\uff0c\u5bfc\u81f4\u5916\u754c\u5bf9\u5b83\u5f62\u6210\u4e86\u4e00\u79cd\u523b\u677f\u5370\u8c61\uff1a\u597d\u50cf\u8fd9\u91cc\u53ea\u6709\u90a3\u4e9b\u4e0d\u8ba4\u771f\u505a\u4ea7\u54c1\u3001\u53ea\u60f3\u5feb\u901f\u8d5a\u4e00\u7b14\u94b1\u7684\u4eba\u3002<\/p>\n<p>\u4f46\u6211\u8ba4\u4e3a\u8fd9\u79cd\u770b\u6cd5\u5b8c\u5168\u662f\u9519\u8bef\u7684\u3002\u8fd9\u6839\u672c\u4e0d\u662f\u8fd9\u4e2a\u884c\u4e1a\u771f\u6b63\u7684\u6f5c\u529b\u6240\u5728\u3002<\/p>\n<p>Kevin\uff1a\u90a3\u6211\u4eec\u8be5\u5982\u4f55\u6539\u53d8\u8fd9\u79cd\u60c5\u51b5\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u4eec\u80fd\u505a\u7684\uff0c\u5c31\u662f\u6301\u7eed\u53bb Build\u3002\u4e13\u6ce8\u4e8e\u6784\u5efa\u6211\u4eec\u771f\u6b63\u76f8\u4fe1\u7684\u4e1c\u897f\u3002<\/p>\n<p>\u5f53\u6211\u8bf4\u300c\u6211\u4eec\u300d\u7684\u65f6\u5019\uff0c\u6211\u6307\u7684\u662f\u6574\u4e2a\u751f\u6001\u7cfb\u7edf\uff0c\u800c\u4e0d\u4ec5\u4ec5\u662f\u67d0\u4e00\u4e2a\u56e2\u961f\u3002\u6bd4\u5982 Hyperliquid \u8fd9\u4e2a\u751f\u6001\uff0c\u4e00\u76f4\u4ee5\u6765\u90fd\u4e0d\u592a\u5728\u610f\u6240\u8c13\u7684\u300c\u5e02\u573a Meta\u300d\u662f\u4ec0\u4e48\uff0c\u4e5f\u4e0d\u4f1a\u592a\u53d7\u5916\u754c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%88%86%e8%ae%ba\" title=\"View all posts in \u8206\u8bba\" target=\"_blank\" class=\"tag_link\">\u8206\u8bba<\/a>\u5de6\u53f3 \u2014 \u2014 \u6bd4\u5982\u5927\u5bb6\u7406\u8bba\u4e0a\u8ba4\u4e3a\u300c\u73b0\u5728\u5e94\u8be5\u505a\u4ec0\u4e48\u300d\uff0c\u6216\u8005\u300c\u4ec0\u4e48\u8d5b\u9053\u66f4\u70ed\u300d\u3002\u6211\u4eec\u66f4\u591a\u662f\u4f5c\u4e3a\u4e00\u4e2a\u793e\u533a\uff0c\u53bb\u505a\u81ea\u5df1\u771f\u6b63\u76f8\u4fe1\u7684\u4e8b\u60c5\u3002<\/p>\n<p>\u6211\u89c9\u5f97\uff0c\u8fd9\u53ef\u80fd\u5c31\u662f\u6211\u4eec\u80fd\u505a\u7684\u6700\u597d\u7684\u4e8b\u60c5 \u2014 \u2014 \u7528\u5b9e\u9645\u6210\u679c\u4f5c\u4e3a\u53cd\u9988\u548c\u793a\u8303\u3002<\/p>\n<p>\u5f53\u7136\uff0c\u4f5c\u4e3a\u4e00\u4e2a\u65e0\u8bb8\u53ef\uff08permissionless\uff09\u7684\u7f51\u7edc\uff0c\u96be\u514d\u4f1a\u51fa\u73b0\u4e00\u4e9b\u4e0d\u592a\u597d\u7684\u4f8b\u5b50\u3002\u603b\u4f1a\u6709\u4eba\u8bd5\u56fe\u5229\u7528\u793e\u533a\u3001\u5229\u7528\u673a\u5236\uff0c\u7136\u540e\u4e3a\u4e2a\u4eba\u5229\u76ca\u8fdb\u884c\u77ed\u671f\u5957\u5229\u6216\u4ef7\u503c\u62bd\u53d6\u3002\u770b\u5230\u8fd9\u79cd\u60c5\u51b5\u786e\u5b9e\u4ee4\u4eba\u9057\u61be\u3002<\/p>\n<p>\u4f46\u603b\u4f53\u6765\u8bf4\uff0c\u6211\u8ba4\u4e3a\u6211\u4eec\u7684\u793e\u533a\u65b9\u5411\u662f\u975e\u5e38\u6b63\u786e\u7684\u3002\u8fd9\u91cc\u6709\u5f88\u597d\u7684\u6587\u5316\u6c1b\u56f4\u3002\u5982\u679c\u6211\u4eec\u7ee7\u7eed\u4ee5\u8fd9\u6837\u7684\u65b9\u5f0f Build \u4e0b\u53bb\uff0c\u5e0c\u671b\u5916\u754c\u4f1a\u6162\u6162\u6ce8\u610f\u5230\u8fd9\u4e00\u70b9\uff0c\u4e5f\u4f1a\u6709\u66f4\u591a\u771f\u6b63\u60f3\u957f\u671f Build \u7684\u4eba\u613f\u610f\u8fdb\u5165 DeFi \u9886\u57df\u3002<\/p>\n<h3>\u5de8\u989d\u8d22\u5bcc\u80cc\u540e\u7684\u8d23\u4efb<\/h3>\n<p>Kevin\uff1a\u6211\u89c9\u5f97\u73b0\u5728\u786e\u5b9e\u6709\u5f88\u591a\u4eba\u5728\u5173\u6ce8\u4f60\u4eec\u3002\u4f5c\u4e3a\u521b\u59cb\u4eba\uff0c\u5f53\u51e0\u4e4e\u5728\u4e00\u591c\u4e4b\u95f4\u521b\u9020\u4e86\u6570\u5341\u4ebf\u7f8e\u5143\u7684\u8d22\u5bcc\u65f6\uff0c\u4f60\u4f1a\u89c9\u5f97\u968f\u4e4b\u800c\u6765\u7684\u8d23\u4efb\u662f\u4ec0\u4e48\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u4e0d\u786e\u5b9a\u50cf\u521b\u4e16\u65f6\u523b\u6216 TGE \u8fd9\u6837\u7684\u5177\u4f53\u4e8b\u4ef6\uff0c\u662f\u5426\u771f\u7684\u6539\u53d8\u4e86\u8d23\u4efb\u672c\u8eab\u3002\u6211\u8ba4\u4e3a\uff0c\u53ea\u8981\u662f\u5728\u6784\u5efa\u4efb\u4f55\u4e0e\u91d1\u878d\u76f8\u5173\u7684\u4ea7\u54c1\uff0c\u672c\u8eab\u5c31\u5929\u7136\u4f34\u968f\u7740\u5de8\u5927\u7684\u8d23\u4efb\u3002<\/p>\n<p>\u5982\u679c\u4f60\u9009\u62e9\u505a\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\uff0c\u4f60\u5c31\u5fc5\u987b\u5168\u529b\u4ee5\u8d74\u3002\u5373\u4fbf\u5982\u6b64\uff0c\u4f60\u4ecd\u7136\u4f1a\u89c9\u5f97\u6709\u592a\u591a\u4e8b\u60c5\u8981\u505a\u3002\u56e0\u4e3a\u91d1\u878d\u662f\u4e00\u4e2a\u4eba\u751f\u6d3b\u4e2d\u6781\u5176\u91cd\u8981\u7684\u4e00\u90e8\u5206\u3002\u5f53\u4e00\u4e2a\u4eba\u4f7f\u7528\u91d1\u878d\u4ea7\u54c1\u65f6\uff0c\u4ed6\u7ed9\u4e88\u4f60\u7684\u4fe1\u4efb\u7a0b\u5ea6\uff0c\u8fdc\u8fdc\u9ad8\u4e8e\u4f7f\u7528\u666e\u901a\u6d88\u8d39\u7c7b\u4ea7\u54c1\u65f6\u7684\u4fe1\u4efb\u3002<\/p>\n<p>\u6240\u4ee5\u6211\u4e5f\u6ca1\u6709\u4e00\u4e2a\u7279\u522b\u5b8f\u5927\u7684\u7b54\u6848\u3002\u6211\u4eec\u80fd\u505a\u7684\uff0c\u5c31\u662f\u5c3d\u6700\u5927\u52aa\u529b\u53bb\u6267\u884c\uff0c\u800c\u4e14\u5fc5\u987b\u505a\u5230\u8fd1\u4e4e\u5b8c\u7f8e\u3002<\/p>\n<p>\u8fd9\u53ef\u80fd\u610f\u5473\u7740\u6211\u4eec\u4f1a\u653e\u6162\u8282\u594f\uff1b\u4e5f\u53ef\u80fd\u610f\u5473\u7740\u6211\u4eec\u9009\u62e9\u7528\u66f4\u96be\u3001\u66f4\u590d\u6742\u7684\u65b9\u5f0f\u53bb\u6784\u5efa\u7cfb\u7edf\u3002\u7c7b\u4f3c\u7684\u4f8b\u5b50\u5176\u5b9e\u6709\u5f88\u591a\u3002\u6211\u4eec\u5fc5\u987b\u59cb\u7ec8\u56f4\u7ed5\u4e00\u4e9b\u6838\u5fc3\u539f\u5219\u6765\u8bbe\u8ba1\u7cfb\u7edf\uff1a\u4fdd\u6301\u4e2d\u7acb\u3001\u516c\u5e73\uff0c\u5e76\u4e14\u5728\u5404\u79cd\u5e02\u573a\u73af\u5883\u4e0b\u90fd\u5177\u5907\u7a33\u5065\u6027\u3002<\/p>\n<p>\u8fd9\u4e9b\u539f\u5219\u5e76\u4e0d\u4f1a\u56e0\u4e3a TGE \u7684\u53d1\u751f\u800c\u6539\u53d8\u3002\u5373\u4fbf\u5728\u90a3\u4e4b\u524d\uff0c\u7528\u6237\u5c31\u5df2\u7ecf\u5728\u4fe1\u4efb Hyperliquid \u2014 \u2014 \u4fe1\u4efb\u5b83\u4f5c\u4e3a\u4e00\u4e2a\u94fe\u4e0a\u3001\u5b8c\u5168\u53ef\u9a8c\u8bc1\u3001\u900f\u660e\u7684\u66ff\u4ee3\u65b9\u6848\uff0c\u53bb\u53d6\u4ee3\u4ed6\u4eec\u65e9\u5df2\u538c\u5026\u7684\u90a3\u79cd\u4e0d\u900f\u660e\u4f53\u7cfb\u3002\u6b63\u662f\u8fd9\u79cd\u4fe1\u4efb\uff0c\u624d\u662f\u6211\u4eec\u771f\u6b63\u9700\u8981\u627f\u62c5\u7684\u8d23\u4efb\u3002<\/p>\n<h3>\u4ece\u300c\u5708\u5185\u4fe1\u4ef0\u300d\u5230\u9762\u5411\u5168\u7403\u7528\u6237<\/h3>\n<p>Kevin\uff1a\u6211\u4eec\u4e0a\u4e00\u6b21\u5f55\u5236\u8282\u76ee\u662f\u5728 TGE \u524d\u5927\u6982\u4e00\u4e2a\u6708\u3002\u5f53\u65f6\u6211\u505a\u4e86\u4e00\u4ef6\u6211\u7ecf\u5e38\u7528\u6765\u6d4b\u8bd5\u793e\u533a\u771f\u5b9e\u5ea6\u7684\u4e8b\u60c5 \u2014 \u2014 \u56e0\u4e3a\u5728\u52a0\u5bc6\u884c\u4e1a\u91cc\uff0c\u6709\u592a\u591a\u865a\u5047\u6570\u636e\u3001\u673a\u5668\u4eba\u8d26\u53f7\uff0c\u8fd9\u662f\u4e00\u4e2a\u4f17\u6240\u5468\u77e5\u7684\u95ee\u9898\u3002\u6240\u4ee5\u6211\u62cd\u4e86\u4e00\u5f20\u5408\u5f71\u5e76\u53d1\u51fa\u53bb\uff0c\u770b\u770b\u793e\u533a\u7684\u53cd\u5e94\u3002\u7ed3\u679c\u5927\u5bb6\u7684\u70ed\u60c5\u8fdc\u8d85\u6211\u7684\u60f3\u8c61\uff0c\u6211\u5f53\u65f6\u5c31\u89c9\u5f97\uff0c\u8fd9\u4e2a\u793e\u533a\u6bd4\u6211\u9884\u671f\u7684\u8fd8\u8981\u5f3a\u5927\u3002<\/p>\n<p>\u90a3\u79cd\u611f\u89c9\u6709\u70b9\u50cf\u300c\u5708\u5185\u4fe1\u4ef0\u300d\uff0c\u4f46\u53c8\u66f4\u50cf\u662f\u4e00\u79cd\u9690\u85cf\u7684\u4ee3\u7801\uff08code\uff09 \u2014 \u2014 \u61c2\u7684\u4eba\u90fd\u61c2\uff0c\u4f46\u5f88\u591a\u5708\u5185\u4eba\u5176\u5b9e\u8fd8\u6ca1\u5b8c\u5168\u7406\u89e3\u53d1\u751f\u4e86\u4ec0\u4e48\u3002\u968f\u540e TGE \u53d1\u751f\u4e86\uff0c\u5f88\u591a\u4e8b\u60c5\u51e0\u4e4e\u90fd\u662f\u4ee5\u6b63\u786e\u7684\u65b9\u5f0f\u5b8c\u6210\u3002\u4f60\u4eec\u4ece\u4e00\u4e2a\u5728\u52a0\u5bc6\u5708\u5185\u90e8\u6709\u5f3a\u70c8\u51dd\u805a\u529b\u7684\u300c\u4fe1\u4ef0\u578b\u793e\u533a\u300d\uff0c\u53d8\u6210\u4e86\u6574\u4e2a\u884c\u4e1a\u90fd\u652f\u6301\u7684\u9879\u76ee\u3002<\/p>\n<p>\u90a3\u63a5\u4e0b\u6765\uff0c\u5982\u4f55\u8ba9 Hyperliquid \u6210\u4e3a\u4e00\u79cd\u80fd\u591f\u5438\u5f15\u5708\u5916\u7528\u6237\u7684\u300c\u4ee3\u7801\u300d\uff1f\u5982\u4f55\u8ba9\u4e0d\u5728\u52a0\u5bc6\u884c\u4e1a\u7684\u4eba\u4e5f\u613f\u610f\u52a0\u5165\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u8ba4\u4e3a\uff0c\u5f52\u6839\u7ed3\u5e95\uff0c\u8fd8\u662f\u8981\u901a\u8fc7\u63d0\u4f9b\u771f\u6b63\u7684\u4ef7\u503c\u3002\u8fd9\u4e0d\u4ec5\u4ec5\u9002\u7528\u4e8e Hyperliquid\uff0c\u800c\u662f\u9002\u7528\u4e8e\u6240\u6709 Builder\u3002<\/p>\n<p>\u6211\u4e0d\u8ba4\u4e3a\u76ee\u6807\u662f\u53bb\u6253\u9020\u4e00\u4e2a\u300c\u72c2\u70ed\u793e\u7fa4\u300d\u3002\u5927\u5bb6\u770b\u5230\u7684\u6240\u8c13\u300c\u4fe1\u4ef0\u611f\u300d\u6216\u300ccult vibe\u300d\uff0c\u672c\u8d28\u4e0a\u662f\u4eba\u4eec\u5bf9\u4e00\u7fa4\u671d\u7740\u5171\u540c\u76ee\u6807\u524d\u8fdb\u3001\u62e5\u6709\u660e\u786e\u4ef7\u503c\u89c2\u7684 Builder \u4ea7\u751f\u7684\u5171\u9e23\u3002\u4e4b\u6240\u4ee5\u663e\u5f97\u7a00\u7f3a\uff0c\u662f\u56e0\u4e3a\u5728\u52a0\u5bc6\u884c\u4e1a\u91cc\uff0c\u8fd9\u6837\u7684\u957f\u671f\u4e3b\u4e49\u548c\u4ef7\u503c\u89c2\u4e00\u81f4\u6027\u5e76\u4e0d\u5e38\u89c1\u3002<\/p>\n<p>\u6211\u4e0d\u592a\u613f\u610f\u628a\u5b83\u79f0\u4e3a\u300c\u4fe1\u4ef0\u300d\u3002\u5728\u6211\u770b\u6765\uff0c\u8fd9\u53ea\u662f\u4eba\u4eec\u805a\u5728\u4e00\u8d77\uff0c\u7528\u6b63\u786e\u7684\u65b9\u5f0f\u505a\u6b63\u786e\u7684\u4e8b\u60c5\uff0c\u79c9\u6301\u516c\u5e73\u7684\u539f\u5219\uff0c\u53bb\u6784\u5efa\u4e00\u4e2a\u5f00\u653e\u7684\u91d1\u878d\u7cfb\u7edf\u3002\u8fd9\u672c\u6765\u5c31\u5e94\u8be5\u662f\u300c\u5e38\u6001\u300d\u3002<\/p>\n<p>\u5982\u679c\u6211\u4eec\u60f3\u8ba9\u5168\u4e16\u754c\u90fd\u52a0\u5165\u8fdb\u6765\uff0c\u6211\u4eec\u5fc5\u987b\u6301\u7eed\u8bc1\u660e\uff1a\u6211\u4eec\u53ef\u4ee5\u6784\u5efa\u51fa\u4f20\u7edf\u91d1\u878d\u4f53\u7cfb\u505a\u4e0d\u5230\u7684\u4ef7\u503c\u3002\u5bf9\u6b64\u6211\u975e\u5e38\u6709\u4fe1\u5fc3\u3002<\/p>\n<p>\u4ece\u66f4\u5b8f\u89c2\u7684\u89d2\u5ea6\u770b\uff0cDeFi \u4e00\u76f4\u627f\u8f7d\u7740\u8fd9\u6837\u7684\u627f\u8bfa\u3002\u8fc7\u53bb\u66f4\u591a\u7684\u95ee\u9898\uff0c\u5176\u5b9e\u662f\u7406\u5ff5\u548c\u6280\u672f\u5b9e\u73b0\u4e4b\u95f4\u7684\u843d\u5dee\u3002\u5f00\u653e\u91d1\u878d\u4f53\u7cfb\u5bf9\u4e16\u754c\u6709\u76ca\uff0c\u8fd9\u4e00\u70b9\u51e0\u4e4e\u6ca1\u6709\u4e89\u8bae\u3002\u5173\u952e\u5728\u4e8e\u6267\u884c\u5c42\u9762\uff0c\u4ee5\u53ca\u4e0d\u8981\u8ba9\u4e0d\u826f\u884c\u4e3a\u3001\u77ed\u671f\u8bf1\u60d1\u6216\u4e2a\u4eba\u79c1\u5229\u7834\u574f\u6574\u4f53\u65b9\u5411\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a\u6838\u5fc3\u53ea\u6709\u4e24\u70b9\uff1a\u7b2c\u4e00\uff0c\u6267\u884c\u5230\u4f4d\uff1b\u7b2c\u4e8c\uff0c\u575a\u6301\u7528\u6b63\u786e\u7684\u65b9\u5f0f\u505a\u4e8b\u3002\u5982\u679c\u8fd9\u4e24\u70b9\u80fd\u505a\u5230\uff0c\u90a3\u4e48 DeFi \u672c\u8d28\u4e0a\u5c31\u662f\u5bf9\u73b0\u6709\u91d1\u878d\u7cfb\u7edf\u7684\u4e00\u6b21\u5de8\u5927\u6280\u672f\u5347\u7ea7\u3002\u5f53\u8fd9\u4e00\u70b9\u53d8\u5f97\u8db3\u591f\u6e05\u6670\u65f6\uff0c\u4eba\u4eec\u81ea\u7136\u4f1a\u52a0\u5165\u8fdb\u6765\u3002<\/p>\n<h4>\u662f\u5426\u4f1a\u5e86\u795d\u91cc\u7a0b\u7891\uff1f<\/h4>\n<p>Kevin\uff1a\u4f60\u4eec\u5f53\u65f6\u6709\u5e86\u795d\u5417\uff1f\u8fd8\u662f\u5b8c\u5168\u4e00\u5207\u7167\u5e38\uff1f\u6211\u8fd9\u4e48\u95ee\u662f\u56e0\u4e3a\u6211\u8bb0\u5f97\u4e00\u4e2a\u6545\u4e8b\uff0c\u597d\u50cf\u662f Paradigm \u7684 Matt Huang \u63d0\u5230\u7684 \u2014 \u2014 \u67d0\u4e2a Web2 \u516c\u53f8 <a href=\"https:\/\/www.alphaseek.cn\/?tag=ipo\" title=\"View all posts in IPO\" target=\"_blank\" class=\"tag_link\">IPO<\/a>\uff0c\u5f53\u5929\u51c6\u5907\u4e86\u9999\u69df\uff0c\u7ed3\u679c\u6574\u4e2a\u56e2\u961f\u4e0b\u6765\u6bcf\u4eba\u559d\u4e86\u4e00\u676f\u6c34\uff0c\u7136\u540e\u53c8\u56de\u53bb\u5de5\u4f5c\u5230\u534a\u591c\uff0c\u51e0\u4e4e\u6ca1\u6709\u4efb\u4f55\u5e86\u795d\u3002<\/p>\n<p>\u6240\u4ee5\u6211\u5f88\u597d\u5947\uff0cHyperliquid Labs \u5f53\u65f6\u53d1\u751f\u4e86\u4ec0\u4e48\uff1f\u4f60\u521a\u521a\u8bf4\u90a3\u53ea\u662f\u4e00\u4e2a\u91cc\u7a0b\u7891\uff0c\u672a\u6765\u8fd8\u6709\u5f88\u591a\u4e8b\u8981\u505a\u3002\u90a3\u5927\u5bb6\u4f1a\u4e0d\u4f1a\u6709\u67d0\u79cd\u5f62\u5f0f\u7684\u5e86\u795d\uff1f\u8fd8\u662f\u8bf4\uff0c\u300c\u8fd9\u672c\u6765\u5c31\u5728\u8ba1\u5212\u4e2d\u300d\uff0c\u7136\u540e\u7ee7\u7eed\u4e13\u6ce8\u4e0b\u4e00\u4e2a\u76ee\u6807\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u60f3\u4e86\u60f3\u2026\u2026\u597d\u50cf\u786e\u5b9e\u6ca1\u6709\u4ec0\u4e48\u6b63\u5f0f\u7684\u5e86\u795d\u3002\u5176\u5b9e\u73b0\u5728\u56de\u5934\u770b\uff0c\u4f1a\u89c9\u5f97\u6709\u70b9\u9057\u61be\u3002\u56e0\u4e3a\u5982\u679c\u590d\u76d8\u7684\u8bdd\uff0c\u786e\u5b9e\u6709\u5f88\u591a\u503c\u5f97\u5e86\u795d\u7684\u65f6\u523b\u3002\u4f46\u5728\u5f53\u4e0b\uff0c\u603b\u662f\u6709\u66f4\u591a\u4e8b\u60c5\u8981\u505a\u3002\u4f60\u6c38\u8fdc\u627e\u4e0d\u5230\u4e00\u4e2a\u300c\u5b8c\u7f8e\u7684\u65f6\u95f4\u70b9\u300d\u505c\u4e0b\u6765\u5e86\u795d\u3002<\/p>\n<p>\u4e5f\u8bb8\u8981\u7b49\u5230\u5f88\u591a\u5e74\u4ee5\u540e\uff0c\u5f53\u6574\u4e2a\u7cfb\u7edf\u5b8c\u5168\u81ea\u6cbb\u8fd0\u884c\uff0c\u4e00\u5207\u90fd\u6210\u719f\u3001\u5b8c\u6574\uff0c\u771f\u6b63\u6210\u4e3a\u4e00\u4e2a\u7a33\u5b9a\u8fd0\u4f5c\u7684\u91d1\u878d\u4f53\u7cfb\u65f6\uff0c\u6216\u8bb8\u90a3\u65f6\u5019\u624d\u662f\u5e86\u795d\u7684\u65f6\u523b\u3002<\/p>\n<p>\u5f53\u7136\uff0c\u6bcf\u4e2a\u4eba\u53ef\u80fd\u4f1a\u7528\u81ea\u5df1\u7684\u65b9\u5f0f\u53bb\u5e86\u795d\u3002\u4f46\u81f3\u5c11\u5728 Hyperliquid Labs \u4f5c\u4e3a\u4e00\u4e2a\u56e2\u961f\u5c42\u9762\uff0c\u6211\u4eec\u6ca1\u6709\u90a3\u79cd\u300c\u4e0a\u7ebf\u4e00\u4e2a\u529f\u80fd\u5c31\u5f00\u9999\u69df\u300d\u7684\u6587\u5316\u3002\u8fd9\u4e0d\u662f\u6211\u4eec\u7684\u98ce\u683c\u3002<\/p>\n<p>\u6211\u60f3\u8fd9\u66f4\u591a\u662f\u4e00\u79cd\u6587\u5316\u95ee\u9898 \u2014 \u2014 \u6211\u4eec\u5929\u7136\u66f4\u4e13\u6ce8\u4e8e\u4e0b\u4e00\u6b65\u8981\u6784\u5efa\u4ec0\u4e48\uff0c\u800c\u4e0d\u662f\u505c\u4e0b\u6765\u5e86\u795d\u5df2\u7ecf\u5b8c\u6210\u7684\u4e8b\u60c5\u3002<\/p>\n<h2>\u5173\u4e8e\u56e2\u961f\u7b5b\u9009\u3001\u5de5\u4f5c\u5f3a\u5ea6\u4e0e\u9690\u79c1\u8fb9\u754c<\/h2>\n<h3>\u5982\u4f55\u7b5b\u9009\u300c\u9ad8\u8bda\u4fe1\u300d\u6210\u5458<\/h3>\n<p>Kevin\uff1a\u4f60\u4eec\u662f\u600e\u4e48\u6d4b\u8bd5\u4e00\u4e2a\u4eba\u662f\u5426\u5177\u5907\u300c\u9ad8\u8bda\u4fe1\u300d\u7684\uff1f<\/p>\n<p>Jeff\uff1a\u8fd9\u662f\u4e2a\u975e\u5e38\u597d\u7684\u95ee\u9898\u3002\u5766\u7387\u8bf4\uff0c\u6ca1\u6709\u4e00\u4e2a\u5b8c\u7f8e\u7684\u65b9\u6cd5\u3002<\/p>\n<p>\u5728 Hyperliquid Labs \u7684\u62db\u8058\u6d41\u7a0b\u4e2d\uff0c\u6211\u4eec\u5f53\u7136\u4f1a\u505a\u5927\u91cf\u6280\u672f\u8bc4\u4f30\uff0c\u4f46\u9664\u6b64\u4e4b\u5916\uff0c\u6211\u4eec\u4e00\u5b9a\u4f1a\u5b89\u6392\u81f3\u5c11\u4e00\u6574\u5929\u7684\u771f\u5b9e\u5171\u4e8b\u3002\u4e0d\u662f\u90a3\u79cd\u9ad8\u5ea6\u65f6\u95f4\u538b\u7f29\u3001\u6a21\u62df\u73af\u5883\u4e0b\u7684\u9762\u8bd5\uff0c\u800c\u662f\u771f\u6b63\u4e00\u8d77\u5de5\u4f5c\u3002<\/p>\n<p>\u5f53\u4f60\u548c\u4e00\u4e2a\u4eba\u957f\u65f6\u95f4\u5408\u4f5c\u3001\u8ba8\u8bba\u95ee\u9898\u3001\u4e00\u8d77\u5199\u4ee3\u7801\u3001\u4e00\u8d77\u9762\u5bf9\u5b9e\u9645\u6311\u6218\u65f6\uff0c\u4f60\u4f1a\u6162\u6162\u611f\u53d7\u5230\u8fd9\u4e2a\u4eba\u662f\u4ec0\u4e48\u6837\u7684\u3002\u8fd9\u91cc\u9762\u6709\u5f88\u591a\u300c\u8f6f\u4fe1\u53f7\u300d \u2014 \u2014 \u5f88\u96be\u91cf\u5316\uff0c\u4f46\u80fd\u88ab\u611f\u77e5\u3002\u4f60\u6c38\u8fdc\u65e0\u6cd5\u767e\u5206\u767e\u786e\u5b9a\u4e00\u4e2a\u4eba\u7684\u54c1\u683c\uff0c\u4f46\u6709\u65f6\u5019\u4f1a\u51fa\u73b0\u4e00\u4e9b\u4fe1\u53f7\uff0c\u8ba9\u4f60\u89c9\u5f97\u300c\u8fd9\u4e2a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%a3%8e%e9%99%a9\" title=\"View all posts in \u98ce\u9669\" target=\"_blank\" class=\"tag_link\">\u98ce\u9669<\/a>\u4e0d\u503c\u5f97\u5192\u300d\u3002<\/p>\n<p>\u53e6\u5916\uff0c\u6211\u4eec\u4e5f\u786e\u4fdd\u56e2\u961f\u91cc\u7684\u6bcf\u4e2a\u4eba\u90fd\u5bf9\u65b0\u6210\u5458\u611f\u5230\u771f\u6b63\u8212\u670d\u3002\u786e\u5b9e\u6709\u8fc7\u8fd9\u6837\u7684\u60c5\u51b5\uff1a\u6709\u4e9b\u4eba\u975e\u5e38\u652f\u6301\u67d0\u4f4d\u5019\u9009\u4eba\uff0c\u4f46\u4e5f\u6709\u4eba\u6301\u4fdd\u7559\u6001\u5ea6\u3002\u901a\u5e38\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u6211\u4eec\u5c31\u4f1a\u9009\u62e9\u4e0d\u5f55\u7528\u3002<\/p>\n<p>Kevin\uff1a\u6240\u4ee5\u662f\u5171\u8bc6\u673a\u5236\uff1f\u5927\u5bb6\u4e00\u8d77\u6295\u7968\uff1f<\/p>\n<p>Jeff\uff1a\u4e5f\u4e0d\u7b97\u6b63\u5f0f\u6295\u7968\u3002\u6ca1\u6709\u4ec0\u4e48\u6d41\u7a0b\u5316\u7684\u8868\u51b3\u5236\u5ea6\u3002\u4f46\u57fa\u672c\u4e0a\uff0c\u53ea\u8981\u6709\u4efb\u4f55\u4e00\u4e2a\u4eba\u7ed9\u51fa\u4e2d\u5ea6\u5230\u5f3a\u70c8\u7684\u53cd\u5bf9\u610f\u89c1\uff0c\u8fd9\u901a\u5e38\u5c31\u8db3\u4ee5\u5426\u51b3\u8fd9\u6b21\u62db\u8058\u3002<\/p>\n<h3>\u5173\u4e8e\u5de5\u4f5c\u5f3a\u5ea6\u4e0e\u7761\u7720<\/h3>\n<p>Kevin\uff1a\u4f60\u81ea\u5df1\u7761\u591a\u4e45\uff1f\u56e2\u961f\u6210\u5458\u7761\u591a\u4e45\uff1f\u4f60\u4f1a\u300c\u5141\u8bb8\u300d\u4ed6\u4eec\u7761\u591a\u4e45\uff1f<\/p>\n<p>Jeff\uff1a\u8fd9\u771f\u7684\u56e0\u4eba\u800c\u5f02\u3002\u6211\u4eec\u4e0d\u4f1a\u5728\u300c\u6295\u5165\u65f6\u957f\u300d\u4e0a\u65bd\u538b\uff0c\u56e0\u4e3a\u90a3\u901a\u5e38\u662f\u707e\u96be\u7684\u5f00\u59cb\u3002<\/p>\n<p>\u5982\u679c\u4e00\u4e2a\u4eba\u771f\u7684\u9700\u8981\u7761\u7720\u5374\u6ca1\u7761\u597d\uff0c\u90a3\u4ed6\u4ea7\u51fa\u7684\u4efb\u4f55\u4e1c\u897f\uff0c\u8d28\u91cf\u90fd\u4f1a\u4e0b\u964d\u3002\u6211\u4eec\u7684\u8d28\u91cf\u6807\u51c6\u975e\u5e38\u9ad8 \u2014 \u2014 \u5373\u4fbf\u5728\u7cbe\u529b\u5145\u6c9b\u7684\u60c5\u51b5\u4e0b\uff0c\u8981\u5199\u51fa\u4f18\u79c0\u7684\u5de5\u7a0b\u4ee3\u7801\u90fd\u9700\u8981\u5168\u529b\u4ee5\u8d74\u3002<\/p>\n<p>\u6240\u4ee5\u6211\u4eec\u5728\u8fd9\u65b9\u9762\u662f\u9ad8\u5ea6\u4fe1\u4efb\u5236\u7684\u3002\u6211\u4e5f\u4e0d\u592a\u8ba4\u540c\u90a3\u79cd\u300c\u901a\u5bb5\u6587\u5316\u300d\u6216\u8005\u628a\u71ac\u591c\u5f53\u6210\u8363\u8000\u7684\u6c1b\u56f4\u3002\u6211\u4e2a\u4eba\u5de5\u4f5c\u65f6\u95f4\u53ef\u80fd\u6bd4\u5f88\u591a\u9f13\u5439\u8fd9\u79cd\u6587\u5316\u7684\u4eba\u8fd8\u957f\uff0c\u4f46\u6211\u4e0d\u8ba4\u4e3a\u90a3\u5e94\u8be5\u6210\u4e3a\u56e2\u961f\u7684\u786c\u6027\u8981\u6c42\u3002<\/p>\n<p>\u56e2\u961f\u91cc\u786e\u5b9e\u6709\u4eba\u4f1a\u5de5\u4f5c\u5230\u5f88\u665a\uff0c\u4e5f\u6709\u4eba\u6bcf\u5929\u6709\u56fa\u5b9a\u7684\u9ad8\u6548\u65f6\u6bb5\u3002\u53ea\u8981\u4ed6\u4eec\u80fd\u591f\u6301\u7eed\u4ea7\u51fa A+ \u7ea7\u522b\u7684\u6210\u679c\uff0c\u6211\u4eec\u5e76\u4e0d\u5728\u610f\u4ed6\u4eec\u5177\u4f53\u6295\u5165\u591a\u5c11\u5c0f\u65f6\u3002<\/p>\n<p>\u5bf9\u6211\u4eec\u6765\u8bf4\uff0c\u91cd\u8981\u7684\u4e0d\u662f\u300c\u5de5\u4f5c\u591a\u4e45\u300d\uff0c\u800c\u662f\u300c\u4ea7\u51fa\u8d28\u91cf\u300d\u3002<\/p>\n<h4>\u5458\u5de5\u4ee3\u5e01\u89e3\u9501\u4e0e\u9690\u79c1\u8fb9\u754c<\/h4>\n<p>Kevin\uff1a\u5173\u4e8e\u56e2\u961f\u7684\u6700\u540e\u4e00\u4e2a\u95ee\u9898\u3002\u6211\u4fdd\u8bc1\u8fd9\u662f\u6700\u540e\u4e00\u4e2a\u3002\u8fc7\u53bb\u51e0\u4e2a\u6708\u91cc\u6709\u5f88\u591a FUD\uff0c\u5176\u4e2d\u4e00\u4e2a\u793e\u533a\u6210\u5458\u3001\u4ee3\u5e01\u6301\u6709\u8005\u6bd4\u8f83\u62c5\u5fc3\u7684\u95ee\u9898\u662f\u5458\u5de5\u7684\u4ee3\u5e01\u89e3\u9501\u5b89\u6392\u3002\u5f88\u591a\u4eba\u62c5\u5fc3\uff0c\u6bcf\u4e2a\u6708\u5927\u7ea6\u4f1a\u6709\u4ef7\u503c 3 \u4ebf\u7f8e\u5143\u7684\u4ee3\u5e01\u6301\u7eed\u6d41\u5165\u5e02\u573a\uff0c\u800c\u4e14\u4f1a\u6301\u7eed\u5f88\u957f\u65f6\u95f4\u3002\u90a3\u5b9e\u9645\u60c5\u51b5\u662f\u4ec0\u4e48\u6837\u7684\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u4eec\u4e0d\u4f1a\u516c\u5f00\u8ba8\u8bba\u8fd9\u4e9b\u5177\u4f53\u60c5\u51b5\u3002\u56e0\u4e3a\u6211\u771f\u5fc3\u8ba4\u4e3a\uff0c\u91d1\u878d\u9690\u79c1\u662f\u4e00\u9879\u57fa\u672c\u6743\u5229\u3002\u8fd9\u4e5f\u662f\u6211\u4eec\u8fdb\u5165\u52a0\u5bc6\u884c\u4e1a\u3001\u53c2\u4e0e DeFi \u7684\u539f\u56e0\u4e4b\u4e00\u3002<\/p>\n<p>\u5c31\u50cf\u4f60\u4e0d\u4f1a\u53bb\u8981\u6c42\u67d0\u4e2a\u793e\u533a\u6210\u5458\u516c\u5f00\u8bf4\u660e\uff1a\u300c\u4f60\u6301\u6709\u5f88\u591a\u4ee3\u5e01\uff0c\u4f60\u5fc5\u987b\u544a\u8bc9\u5927\u5bb6\u4f60\u6bcf\u4e00\u7b14\u64cd\u4f5c\u5728\u505a\u4ec0\u4e48\u3002\u300d\u6211\u8ba4\u4e3a\u8fd9\u91cc\u5fc5\u987b\u5212\u51fa\u4e00\u6761\u6e05\u6670\u7684\u754c\u7ebf\uff0c\u800c\u8fd9\u6761\u7ebf\u5c31\u5728\u4e2a\u4eba\u9690\u79c1\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a\uff0c\u5173\u4e8e\u534f\u8bae\u5982\u4f55\u8fd0\u4f5c\uff0c\u5fc5\u987b\u662f\u5b8c\u5168\u900f\u660e\u7684\u3002\u6bcf\u4e00\u7f8e\u5143\u7684\u6d41\u5411\u90fd\u5e94\u8be5\u6e05\u6670\u53ef\u67e5\uff1b\u7cfb\u7edf\u4e2d\u7684\u8d44\u4ea7\u5fc5\u987b\u771f\u6b63\u5c5e\u4e8e\u5bf9\u5e94\u7684\u6301\u6709\u4eba\uff1b\u534f\u8bae\u89c4\u5219\u5fc5\u987b\u516c\u5f00\u3001\u53ef\u9a8c\u8bc1\u3002\u8fd9\u79cd\u5c42\u7ea7\u7684\u900f\u660e\u5ea6\uff0c\u662f\u4e00\u4e2a\u5f00\u653e\u91d1\u878d\u7cfb\u7edf\u4e0d\u53ef\u59a5\u534f\u7684\u524d\u63d0\u3002\u5982\u679c\u6ca1\u6709\u8fd9\u79cd\u900f\u660e\u5ea6\uff0c\u5c31\u4f1a\u51fa\u73b0\u6211\u4eec\u5728\u4e00\u4e9b\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u770b\u5230\u7684\u90a3\u4e9b\u95ee\u9898\u3002<\/p>\n<p>\u4f46\u53e6\u4e00\u65b9\u9762\uff0c\u4efb\u4f55\u8d21\u732e\u8005\u5982\u4f55\u5904\u7406\u5c5e\u4e8e\u4ed6\u4eec\u81ea\u5df1\u7684\u4ee3\u5e01\uff0c\u90a3\u662f\u4ed6\u4eec\u7684\u4e2a\u4eba\u8d44\u4ea7\u3002\u8fd9\u4e0d\u5e94\u8be5\u6210\u4e3a\u516c\u5171\u5ba1\u89c6\u7684\u5bf9\u8c61\uff0c\u4e5f\u4e0d\u662f\u6211\u7684\u804c\u8d23\u53bb\u8bc4\u5224\u6216\u62ab\u9732\u3002<\/p>\n<p>\u534f\u8bae\u5fc5\u987b\u900f\u660e\uff0c\u4f46\u4e2a\u4eba\u5fc5\u987b\u62e5\u6709\u9690\u79c1\u3002\u8fd9\u4e24\u8005\u5e76\u4e0d\u51b2\u7a81\u3002<\/p>\n<h2>\u5173\u4e8e\u5e94\u5bf9 FUD\u3001\u81ea\u52a8\u9500\u6bc1\u673a\u5236\u4e0e\u53bb\u4eba\u4e3a\u51b3\u7b56\u6743<\/h2>\n<h4>\u5982\u4f55\u5e94\u5bf9 FUD \u4e0e\u5916\u754c\u653b\u51fb<\/h4>\n<p>Kevin\uff1a\u4f60\u4eec\u5904\u7406 FUD \u548c\u5916\u754c\u8d28\u7591\u7684\u65b9\u5f0f\u633a\u6709\u610f\u601d\u7684\u3002\u5f88\u591a\u4eba\u89c9\u5f97\uff0cHyperliquid \u7684\u505a\u6cd5\u5c31\u662f\u5ffd\u7565\u3001\u4fdd\u6301\u6c89\u9ed8\u3002<\/p>\n<p>Jeff\uff1a\u5176\u5b9e\u5e76\u4e0d\u662f\u8fd9\u6837\u3002\u786e\u5b9e\uff0c\u5728\u65e9\u671f\u6211\u4eec\u66f4\u503e\u5411\u4e8e\u4e0d\u56de\u5e94\u3002\u4f46\u540e\u6765\u6211\u610f\u8bc6\u5230\uff0c\u6211\u81ea\u5df1\u5728 PR \u65b9\u9762\u7684\u76f4\u89c9\u5e76\u4e0d\u603b\u662f\u6b63\u786e\u7684\u3002\u6240\u4ee5\u73b0\u5728\u6211\u66f4\u613f\u610f\u628a\u8fd9\u90e8\u5206\u4ea4\u7ed9\u66f4\u4e13\u4e1a\u7684\u4eba\u6765\u5224\u65ad\u548c\u5904\u7406\u3002<\/p>\n<p>\u6709\u4e00\u70b9\u662f\u6211\u4eec\u540e\u6765\u523b\u610f\u53bb\u8c03\u6574\u7684 \u2014 \u2014 \u5f53\u51fa\u73b0 FUD \u65f6\uff0c\u6211\u672c\u80fd\u7684\u53cd\u5e94\u5f80\u5f80\u662f\uff1a\u300c\u8fd9\u660e\u663e\u662f\u9519\u8bef\u7684\uff0c\u4e8b\u5b9e\u6700\u7ec8\u4f1a\u81ea\u5df1\u6d6e\u51fa\u6c34\u9762\u3002\u300d\u4f46\u6211\u9010\u6e10\u610f\u8bc6\u5230\uff0c\u8fd9\u79cd\u5fc3\u6001\u5e76\u4e0d\u603b\u662f\u5bf9\u7684\u3002<\/p>\n<p>\u4ece\u52a1\u5b9e\u89d2\u5ea6\u6765\u770b\uff0c\u5982\u679c\u6709\u4e0d\u5b9e\u4fe1\u606f\u5728\u4f20\u64ad\uff0c\u800c\u4e14\u786e\u5b9e\u9700\u8981\u6f84\u6e05\uff0c\u6211\u4eec\u662f\u4f1a\u51fa\u6765\u56de\u5e94\u7684\u3002\u6211\u4eec\u4f1a\u9488\u5bf9\u5177\u4f53\u95ee\u9898\u8fdb\u884c\u89e3\u91ca\u548c\u7ea0\u6b63\uff0c\u800c\u4e0d\u662f\u4e00\u6982\u5ffd\u7565\u3002<\/p>\n<p>\u5f53\u7136\uff0c\u6211\u4eec\u4e5f\u4e0d\u4f1a\u5bf9\u6bcf\u4e00\u4e2a\u58f0\u97f3\u90fd\u505a\u51fa\u53cd\u5e94\u3002\u5173\u952e\u5728\u4e8e\u5224\u65ad\uff1a\u8fd9\u662f\u4e0d\u662f\u4f1a\u8bef\u5bfc\u7528\u6237\u3001\u635f\u5bb3\u793e\u533a\u4fe1\u4efb\uff0c\u6216\u8005\u5f71\u54cd\u534f\u8bae\u7684\u6b63\u5e38\u7406\u89e3\uff1f\u5982\u679c\u662f\uff0c\u6211\u4eec\u5c31\u4f1a\u6b63\u9762\u5904\u7406\u3002<\/p>\n<p>\u6240\u4ee5\uff0c\u4e0e\u5176\u8bf4\u6211\u4eec\u300c\u5ffd\u7565 FUD\u300d\uff0c\u4e0d\u5982\u8bf4\u6211\u4eec\u5728\u5b66\u4e60\u5982\u4f55\u66f4\u6210\u719f\u3001\u66f4\u6709<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%ad%96%e7%95%a5\" title=\"View all posts in \u7b56\u7565\" target=\"_blank\" class=\"tag_link\">\u7b56\u7565<\/a>\u5730\u5e94\u5bf9\u5b83\u3002<\/p>\n<p>Kevin\uff1a\u8fd9\u4e9b FUD \u4f1a\u5bf9\u4f60\u4e2a\u4eba\u4ea7\u751f\u5f71\u54cd\u5417\uff1f\u8bf4\u5b9e\u8bdd\u3002<\/p>\n<p>Jeff\uff1a\u8981\u770b\u662f\u54ea\u4e00\u7c7b FUD\u3002<\/p>\n<p>\u8fc7\u53bb\u534a\u5e74\uff0c\u52a0\u5bc6\u5e02\u573a\u6574\u4f53\u6ce2\u52a8\u5f88\u5927\uff0c\u800c\u4e14\u5f88\u591a\u65f6\u5019\u662f\u5411\u4e0b\u7684\u3002\u67d0\u4e9b\u4e8b\u4ef6\u786e\u5b9e\u5bf9\u5e02\u573a\u9020\u6210\u4e86\u5b9e\u8d28\u6027\u7684\u4f24\u5bb3\u3002\u800c\u56e0\u4e3a Hyperliquid \u662f\u5c11\u6570\u771f\u6b63\u900f\u660e\u7684\u4ea4\u6613\u573a\u6240\u4e4b\u4e00\uff0c\u5f88\u591a\u8ba8\u8bba\u81ea\u7136\u5c31\u96c6\u4e2d\u5230\u4e86\u6211\u4eec\u8eab\u4e0a\u3002<\/p>\n<p>\u90a3\u6bb5\u65f6\u95f4\u6211\u786e\u5b9e\u975e\u5e38\u5728\u610f\u3002\u6211\u51e0\u4e4e\u662f\u5e26\u7740\u67d0\u79cd\u300c\u4f7f\u547d\u611f\u300d\u5728\u884c\u52a8\uff0c\u60f3\u628a\u4e00\u4e9b\u6280\u672f\u7ec6\u8282\u89e3\u91ca\u6e05\u695a\u3002\u56e0\u4e3a\u8fd9\u4e9b\u95ee\u9898\u662f\u5f88\u4e2a\u4eba\u5316\u7684 \u2014 \u2014 \u5f88\u591a\u4eba\u53ef\u80fd\u771f\u7684\u4e8f\u4e86\u5f88\u591a\u94b1\u3002\u5728\u90a3\u79cd\u60c5\u51b5\u4e0b\uff0c\u60c5\u7eea\u662f\u9ad8\u5ea6\u654f\u611f\u7684\u3002<\/p>\n<p>\u4f46\u6211\u4e5f\u770b\u5230\uff0c\u6709\u4e9b\u7ade\u4e89\u5bf9\u624b\u4ece\u4e0d\u540c\u89d2\u5ea6\u5728\u523b\u610f\u300c\u8bef\u5bfc\u6027\u63cf\u8ff0\u300dHyperliquid\u3002\u4ed6\u4eec\u5f31\u5316\u6211\u4eec\u505a\u5bf9\u7684\u5730\u65b9\uff0c\u7528\u8d1f\u9762\u53d9\u4e8b\u6765\u8f6c\u79fb\u5916\u754c\u5bf9\u4ed6\u4eec\u81ea\u8eab\u95ee\u9898\u7684\u5173\u6ce8\u3002<\/p>\n<p>\u8fd9\u79cd\u60c5\u51b5\u4f1a\u8ba9\u6211\u751f\u6c14\u3002\u56e0\u4e3a\u5f88\u660e\u663e\uff0c\u4ed6\u4eec\u77e5\u9053\u81ea\u5df1\u5728\u505a\u4ec0\u4e48\u3002<\/p>\n<p>\u4f46\u53e6\u4e00\u65b9\u9762\uff0c\u8fd9\u79cd\u6124\u6012\u6700\u7ec8\u4f1a\u8f6c\u5316\u4e3a\u52a8\u529b \u2014 \u2014 \u63a8\u52a8\u6211\u66f4\u6e05\u6670\u5730\u5411\u7528\u6237\u89e3\u91ca\uff0c\u4e3a\u4ec0\u4e48 Hyperliquid \u8981\u8fd9\u6837\u8bbe\u8ba1\uff0c\u4e3a\u4ec0\u4e48\u900f\u660e\u6027\u5982\u6b64\u91cd\u8981\u3002<\/p>\n<p>\u4e3e\u4e2a\u4f8b\u5b50\uff0c\u4e00\u4e9b\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4f1a\u5f15\u7528\u67d0\u4e9b\u6570\u636e\u5206\u6790\u7f51\u7ad9\u7684\u7edf\u8ba1\uff0c\u8bf4\u300c\u4f60\u770b\uff0cHyperliquid \u7684\u7206\u4ed3\u6570\u91cf\u6bd4\u6211\u4eec\u591a\u300d\u3002\u4f46\u5982\u679c\u4f60\u53bb\u770b\u90a3\u4e9b\u5e73\u53f0\u7684\u6587\u6863\uff08\u867d\u7136\u5f88\u5c11\u6709\u4eba\u4f1a\u770b\uff09\uff0c\u4f60\u4f1a\u53d1\u73b0\uff0c\u4ed6\u4eec\u53ef\u80fd\u53ea\u4e0a\u62a5\u300c\u6bcf\u79d2\u7b2c\u4e00\u7b14\u7206\u4ed3\u300d\uff0c\u800c\u6ca1\u6709\u62ab\u9732\u5168\u90e8\u6570\u636e\u3002\u6ca1\u6709\u89e3\u91ca\u4e3a\u4ec0\u4e48\u53ea\u7edf\u8ba1\u8fd9\u4e00\u90e8\u5206\u3002<\/p>\n<p>\u800c\u5728 Hyperliquid \u4e0a\uff0c\u6bcf\u4e00\u7b14\u8ba2\u5355\u3001\u6bcf\u4e00\u6b21\u64a4\u5355\u3001\u6bcf\u4e00\u6b21\u7206\u4ed3\uff0c\u5168\u90e8\u90fd\u5728\u94fe\u4e0a\u516c\u5f00\u53ef\u67e5\u3002\u5f53\u4f60\u628a\u4e00\u4e2a\u300c\u90e8\u5206\u62ab\u9732\u7684\u6570\u636e\u300d\u53bb\u548c\u4e00\u4e2a\u300c\u5b8c\u6574\u62ab\u9732\u7684\u6570\u636e\u300d\u76f8\u52a0\u5bf9\u6bd4\uff0c\u5f53\u7136\u4f1a\u5f97\u51fa\u8bef\u5bfc\u6027\u7684\u7ed3\u8bba\u3002<\/p>\n<p>\u8fd9\u672c\u8d28\u4e0a\u5c31\u662f\u4fe1\u606f\u4e0d\u5bf9\u79f0\uff0c\u751a\u81f3\u662f\u8d64\u88f8\u88f8\u7684\u8bef\u5bfc\u3002<\/p>\n<p>\u66f4\u4ee4\u4eba\u6cae\u4e27\u7684\u662f\uff0c\u5f53\u884c\u4e1a\u91cc\u4e00\u4e9b\u62e5\u6709\u5de8\u5927\u5f71\u54cd\u529b\u3001\u7c89\u4e1d\u4f17\u591a\u7684\u58f0\u97f3\u53bb\u653e\u5927\u8fd9\u79cd\u53d9\u4e8b\u65f6\uff0c\u5f71\u54cd\u529b\u4f1a\u88ab\u8fc5\u901f\u653e\u5927\u3002<\/p>\n<p>\u6211\u4eec\u7684\u58f0\u97f3\u53ef\u80fd\u66f4\u5c0f\uff0c\u8986\u76d6\u9762\u66f4\u7a84\u3002\u4f46\u6b63\u56e0\u4e3a\u5982\u6b64\uff0c\u6211\u4eec\u66f4\u9700\u8981\u5728\u5173\u952e\u65f6\u523b\u5927\u58f0\u3001\u6e05\u6670\u3001\u53cd\u590d\u5730\u89e3\u91ca\u4e8b\u5b9e\u3002<\/p>\n<p>\u6211\u4e0d\u4f1a\u5047\u88c5\u8fd9\u4e9b\u4e8b\u60c5\u4e0d\u4f1a\u5f71\u54cd\u6211\u3002\u5b83\u4eec\u4f1a\u3002\u4f46\u5b83\u4eec\u5e26\u6765\u7684\u66f4\u591a\u662f\u8d23\u4efb\u611f\uff0c\u800c\u4e0d\u662f\u9000\u7f29\u3002<\/p>\n<h4>\u81ea\u52a8\u56de\u8d2d\u9500\u6bc1\u673a\u5236 vs \u81ea\u7531\u88c1\u91cf\u56de\u8d2d<\/h4>\n<p>Kevin\uff1a\u751f\u6001\u91cc\u6709\u5f88\u591a\u652f\u6301\u4f60\u4eec\u7684\u4eba\uff0c\u4f46\u4e5f\u6709\u4e00\u4e9b\u76f8\u5f53\u806a\u660e\u7684\u4e1a\u5185\u4eba\u58eb\u5728\u6279\u8bc4 Hyperliquid\u3002\u4e00\u4e2a\u5e38\u89c1\u7684\u89c2\u70b9\u662f\uff1a\u4f60\u4eec\u6bcf\u5929\u90fd\u5728\u56de\u8d2d\u4ee3\u5e01\uff0c\u4f46\u5f53\u4ef7\u683c\u9ad8\u7684\u65f6\u5019\u5e94\u8be5\u505c\u6b62\u56de\u8d2d\uff0c\u4ef7\u683c\u4f4e\u7684\u65f6\u5019\u518d\u591a\u56de\u8d2d\u3002\u4f60\u8ba4\u4e3a\u8fd9\u4e2a\u89c2\u70b9\u7684\u6838\u5fc3\u95ee\u9898\u662f\u4ec0\u4e48\uff1f<\/p>\n<p>Jeff\uff1a\u6838\u5fc3\u95ee\u9898\u5728\u4e8e \u2014 \u2014 \u6211\u4eec\u6839\u672c\u4e0d\u662f\u4e00\u4e2a\u300c\u81ea\u7531\u88c1\u91cf\u56de\u8d2d\u8ba1\u5212\u300d\uff08discretionary buyback program\uff09\u3002<\/p>\n<p>\u5f88\u591a\u4eba\u628a\u5b83\u5f53\u6210\u516c\u53f8\u884c\u4e3a\u6765\u7406\u89e3\uff0c\u4f46\u8fd9\u5176\u5b9e\u662f\u4e00\u4e2a\u9519\u8bef\u7c7b\u6bd4\u3002Hyperliquid \u662f\u4e00\u4e2a\u57fa\u4e8e\u89c4\u5219\u8fd0\u884c\u7684\u534f\u8bae\uff08rules \u2014 based protocol\uff09\uff0c\u800c\u4e0d\u662f\u4e00\u5bb6\u53ef\u4ee5\u4e3b\u89c2\u51b3\u7b56\u7684\u516c\u53f8\u3002<\/p>\n<p>\u4e3e\u4e2a\u7c7b\u6bd4\uff1a\u5728\u4ee5\u592a\u574a\u4e0a\uff0c\u4f18\u5148\u8d39\uff08priority fee\uff09\u73b0\u5728\u662f\u76f4\u63a5\u88ab\u9500\u6bc1\u7684\u3002\u4f60\u4e0d\u4f1a\u53bb\u8981\u6c42\u4ee5\u592a\u574a\u5f00\u53d1\u8005\u8bf4\uff1a\u300c\u5f53 ETH \u4ef7\u683c\u9ad8\u7684\u65f6\u5019\uff0cVitalik \u5e94\u8be5\u628a\u8fd9\u4e9b\u8d39\u7528\u62ff\u53bb\u505a\u522b\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6295\u8d44<\/a>\uff0c\u800c\u4e0d\u662f\u9500\u6bc1\u3002\u300d<\/p>\n<p>\u56e0\u4e3a\u90a3\u4e0d\u662f\u4e00\u4e2a\u53ef\u4ee5\u4e3b\u89c2\u64cd\u4f5c\u7684\u51b3\u7b56 \u2014 \u2014 \u5b83\u662f\u534f\u8bae\u7ea7\u89c4\u5219\u7684\u4e00\u90e8\u5206\u3002<\/p>\n<p>Hyperliquid \u4e5f\u662f\u4e00\u6837\u3002\u534f\u8bae\u4ea7\u751f\u7684\u8d39\u7528\u4f1a\u6309\u7167\u9884\u8bbe\u89c4\u5219\u81ea\u52a8\u8f6c\u6362\u4e3a HYPE\uff0c\u7136\u540e\u9500\u6bc1\u3002\u8fd9\u4e0d\u662f\u56e2\u961f\u62cd\u8111\u888b\u51b3\u5b9a\u300c\u4eca\u5929\u4e70\u591a\u5c11\u3001\u4ec0\u4e48\u65f6\u5019\u505c\u300d\u3002\u6574\u4e2a\u8f6c\u6362\u903b\u8f91\u672c\u8eab\u5c31\u5199\u5728\u94fe\u7684\u6267\u884c\u673a\u5236\u91cc\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a\uff0c\u4e4b\u6240\u4ee5\u4f1a\u4ea7\u751f\u8fd9\u79cd\u8bef\u89e3\uff0c\u662f\u56e0\u4e3a\u5f88\u591a\u4e2d\u5fc3\u5316\u6216\u534a\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u786e\u5b9e\u6709\u300c\u56de\u8d2d\u4ee3\u5e01\u300d\u7684\u505a\u6cd5\u3002\u90a3\u79cd\u6a21\u5f0f\u4e0b\uff0c\u516c\u53f8\u53ef\u4ee5\u51b3\u5b9a\u4ec0\u4e48\u65f6\u5019\u56de\u8d2d\u3001\u56de\u8d2d\u591a\u5c11\u3001\u662f\u5426\u6682\u505c\u3002\u5bf9\u4e8e\u90a3\u79cd\u7ed3\u6784\uff0c\u8ba8\u8bba\u62e9\u65f6\u56de\u8d2d\u662f\u5408\u7406\u7684\u3002<\/p>\n<p>\u4f46\u5728 Hyperliquid \u4e0a\uff0c\u8d39\u7528\u8f6c\u6362\u4e3a HYPE \u5e76\u9500\u6bc1\uff0c\u662f\u81ea\u52a8\u5316\u7684\u94fe\u4e0a\u903b\u8f91\u3002<\/p>\n<p>\u8fd9\u5c31\u50cf\u94fe\u4e0a TWAP \u8ba2\u5355\u6267\u884c\u4e00\u6837 \u2014 \u2014 \u5f53\u4f60\u63d0\u4ea4\u4e00\u4e2a TWAP\uff0c\u6ca1\u6709\u4eba\u5750\u5728\u90a3\u91cc\u624b\u52a8\u51b3\u5b9a\u4ec0\u4e48\u65f6\u5019\u62c6\u5355\u3001\u4ec0\u4e48\u65f6\u5019\u628a\u4e0b\u4e00\u7b14\u8ba2\u5355\u9001\u5165\u8ba2\u5355\u7c3f\u3002\u90a3\u662f\u534f\u8bae\u6267\u884c\u903b\u8f91\u7684\u4e00\u90e8\u5206\u3002<\/p>\n<p>\u540c\u6837\u5730\uff0c\u8d39\u7528\u5982\u4f55\u88ab\u8f6c\u6362\u3001\u5982\u4f55\u88ab\u9500\u6bc1\uff0c\u4e5f\u5b8c\u5168\u662f\u94fe\u4e0a\u6267\u884c\u903b\u8f91\u7684\u4e00\u90e8\u5206\uff0c\u800c\u4e0d\u662f\u4eba\u4e3a\u64cd\u4f5c\u3002<\/p>\n<p>\u6240\u4ee5\u95ee\u9898\u7684\u672c\u8d28\u5728\u4e8e \u2014 \u2014 \u5f88\u591a\u4eba\u628a\u4e00\u4e2a\u300c\u534f\u8bae\u7ea7\u81ea\u52a8\u9500\u6bc1\u673a\u5236\u300d\uff0c\u8bef\u89e3\u6210\u4e86\u300c\u516c\u53f8\u5c42\u9762\u7684\u62e9\u65f6\u56de\u8d2d\u7b56\u7565\u300d\u3002\u8fd9\u4e24\u8005\u5728\u8bbe\u8ba1\u54f2\u5b66\u548c\u6cbb\u7406\u903b\u8f91\u4e0a\u662f\u5b8c\u5168\u4e0d\u540c\u7684\u3002<\/p>\n<h4>\u4e3a\u4ec0\u4e48\u5fc5\u987b\u53d6\u6d88\u4eba\u4e3a\u51b3\u7b56\u6743<\/h4>\n<p>Kevin\uff1a\u4e3a\u4ec0\u4e48\u300c\u6ca1\u6709\u81ea\u7531\u88c1\u91cf\u6743\u300d\u5bf9 Hyperliquid \u6765\u8bf4\u8fd9\u4e48\u91cd\u8981\uff1f<\/p>\n<p>Jeff\uff1a\u56e0\u4e3a Hyperliquid \u4e0d\u662f\u4e00\u5bb6\u516c\u53f8\u3002\u8fd9\u662f\u53e6\u4e00\u4e2a\u5e38\u89c1\u7684\u8bef\u89e3\u3002<\/p>\n<p>\u5f53\u6211\u8bf4\u300c\u6211\u4eec\u300d\uff0c\u6216\u8005\u63d0\u5230 Hyperliquid Labs \u65f6\uff0c\u6211\u4eec\u53ea\u662f\u4e00\u4e2a\u975e\u5e38\u5c0f\u7684\u56e2\u961f\u3002\u6211\u4eec\u7684\u804c\u8d23\u662f\u6784\u5efa\u6574\u4e2a Hyperliquid \u751f\u6001\u4e2d\u4e00\u4e2a\u5c0f\u4f46\u5173\u952e\u7684\u7ec4\u6210\u90e8\u5206\u3002\u6211\u4eec\u4e0d\u662f\u300cHyperliquid \u672c\u8eab\u300d\u3002<\/p>\n<p>\u5f88\u591a\u4eba\u4e60\u60ef\u7528\u4f20\u7edf\u91d1\u878d\u7684\u7c7b\u6bd4\u53bb\u7406\u89e3\u4e00\u5207\u3002\u56e0\u4e3a\u4eba\u4eec\u4e0d\u559c\u6b22\u5b66\u4e60\u5168\u65b0\u7684\u6982\u5ff5\uff0c\u66f4\u613f\u610f\u628a\u65b0\u4e8b\u7269\u5957\u8fdb\u5df2\u6709\u7684\u6846\u67b6\u91cc\u3002\u8fd9\u6837\u786e\u5b9e\u80fd\u627e\u5230\u4e00\u4e9b\u76f8\u4f3c\u4e4b\u5904\uff0c\u4f46\u4e5f\u4f1a\u6709\u5f88\u591a\u6839\u672c\u4e0d\u9002\u7528\u7684\u5730\u65b9\u3002<\/p>\n<p>Hyperliquid \u5e76\u4e0d\u662f\u4f20\u7edf\u91d1\u878d\u4e16\u754c\u91cc\u67d0\u79cd\u5df2\u6709\u5b9e\u4f53\u7684\u6620\u5c04\u3002\u5b83\u4e0d\u662f\u4e00\u5bb6\u516c\u53f8\uff0c\u4e0d\u662f\u4e00\u4e2a\u4ea4\u6613\u6240\u516c\u53f8\uff0c\u4e0d\u662f\u4e00\u4e2a\u300c\u4e3a\u80a1\u4e1c\u521b\u9020\u4ef7\u503c\u300d\u7684\u7ec4\u7ec7\u7ed3\u6784\u3002<\/p>\n<p>\u6211\u4eec\u7684\u613f\u666f\u662f\uff0c\u8ba9\u91d1\u878d\u7cfb\u7edf\u672c\u8eab\u8fd0\u884c\u5728\u94fe\u4e0a\u3002<\/p>\n<p>\u662f\u7684\uff0c\u534f\u8bae\u786e\u5b9e\u521b\u9020\u4e86\u4ef7\u503c\uff0c\u4e5f\u628a\u4ef7\u503c\u53cd\u9988\u7ed9\u539f\u751f\u4ee3\u5e01\u3002\u8fd9\u662f\u79ef\u6781\u7684\u3002\u4f46\u8fd9\u548c\u516c\u53f8\u901a\u8fc7\u7ecf\u8425\u5229\u6da6\u56de\u9988\u80a1\u4e1c\u662f\u5b8c\u5168\u4e0d\u540c\u7684\u903b\u8f91\u3002<\/p>\n<p>\u516c\u53f8\u662f\u4e00\u4e2a\u4e2d\u5fc3\u5316\u5b9e\u4f53\uff0c\u6709\u7ba1\u7406\u5c42\u3001\u6709\u8463\u4e8b\u4f1a\u3001\u6709\u4e3b\u89c2\u51b3\u7b56\u6743\u3002\u800c Hyperliquid \u662f\u4e00\u4e2a\u4e2d\u7acb\u7684\u5e73\u53f0\uff0c\u662f\u4e00\u4e2a\u8ba9\u91d1\u878d\u5728\u5176\u4e0a\u6784\u5efa\u7684\u57fa\u7840\u8bbe\u65bd\u3002<\/p>\n<p>\u6362\u4e2a\u89d2\u5ea6\u770b\uff0c\u5b83\u66f4\u50cf\u4e92\u8054\u7f51\u4e4b\u4e8e\u4fe1\u606f\u3002\u4e92\u8054\u7f51\u4e0d\u662f\u4e00\u5bb6\u516c\u53f8\uff0c\u4e0d\u662f\u4e3a\u4e86\u7ed9\u300c\u4e92\u8054\u7f51\u80a1\u4e1c\u300d\u521b\u9020\u5229\u6da6\u3002\u5b83\u662f\u4e00\u5957\u4e2d\u7acb\u7684\u57fa\u7840\u8bbe\u65bd\u534f\u8bae\uff0c\u8ba9\u4fe1\u606f\u5f97\u4ee5\u81ea\u7531\u6d41\u901a\u3002<\/p>\n<p>\u540c\u6837\u5730\uff0cHyperliquid \u4f5c\u4e3a\u4e00\u4e2a\u751f\u6001\u7cfb\u7edf\u3001\u7f51\u7edc\u548c\u534f\u8bae\uff0c\u662f\u5e0c\u671b\u6210\u4e3a\u91d1\u878d\u9886\u57df\u7684\u57fa\u7840\u8bbe\u65bd\u5c42\u3002<\/p>\n<p>\u800c\u4e00\u65e6\u4f60\u8d4b\u4e88\u67d0\u4e2a\u6838\u5fc3\u56e2\u961f\u300c\u81ea\u7531\u88c1\u91cf\u6743\u300d\uff0c\u6bd4\u5982\u51b3\u5b9a\u4ec0\u4e48\u65f6\u5019\u56de\u8d2d\u3001\u4ec0\u4e48\u65f6\u5019\u6682\u505c\uff0c\u4f60\u5c31\u7b49\u4e8e\u628a\u8fd9\u4e2a\u7cfb\u7edf\u91cd\u65b0\u62c9\u56de\u5230\u300c\u516c\u53f8\u6a21\u5f0f\u300d\u3002<\/p>\n<p>\u6211\u4eec\u9009\u62e9\u89c4\u5219\u5316\u3001\u81ea\u52a8\u5316\u3001\u4e0d\u53ef\u968f\u610f\u66f4\u6539\u7684\u673a\u5236\uff0c\u6b63\u662f\u4e3a\u4e86\u786e\u4fdd\u8fd9\u4e2a\u7cfb\u7edf\u662f\u4e2d\u7acb\u7684\u3001\u53ef\u4fe1\u7684\uff0c\u800c\u4e0d\u662f\u4f9d\u8d56\u67d0\u4e2a\u56e2\u961f\u7684\u5224\u65ad\u3002<\/p>\n<p>\u5982\u679c\u76ee\u6807\u662f\u6784\u5efa\u4e00\u4e2a\u771f\u6b63\u7684\u94fe\u4e0a\u91d1\u878d\u7cfb\u7edf\uff0c\u90a3\u53bb\u9664\u4eba\u4e3a\u51b3\u7b56\u6743\uff0c\u4e0d\u662f\u53ef\u9009\u9879\uff0c\u800c\u662f\u524d\u63d0\u3002<\/p>\n<h2>\u5173\u4e8e HyperEVM\u3001Permissionless Perps \u4e0e\u91d1\u878d\u4e0a\u94fe<\/h2>\n<h4>HyperEVM \u7684\u672c\u8d28\u4e0e\u610f\u4e49<\/h4>\n<p>Kevin\uff1a\u4e0a\u4e00\u6b21\u4f60\u6765\u8282\u76ee\u65f6\uff0c\u6211\u4eec\u804a\u5230\u4f60\u4eec\u5e0c\u671b\u6210\u4e3a\u300c\u6d41\u52a8\u6027\u7684 AWS\u300d\u3002\u8fd9\u6b21\u6211\u4eec\u5177\u4f53\u8c08\u8c08\u8fd9\u6bb5\u65f6\u95f4\u53d1\u751f\u4e86\u4ec0\u4e48\u3002\u5148\u4ece HyperEVM \u8bb2\u8d77\u3002\u4ec0\u4e48\u662f HyperEVM\uff1f\u7528\u6700\u7b80\u5355\u7684\u65b9\u5f0f\u89e3\u91ca\uff0c\u4e0d\u8981\u7528\u884c\u4e1a\u672f\u8bed\u3002<\/p>\n<p>Jeff\uff1a\u6700\u7b80\u5355\u6765\u8bf4\uff0cHyperEVM \u5c31\u662f \u2014 \u2014 \u8ba9\u5f00\u53d1\u8005\u53ef\u4ee5\u628a\u4ed6\u4eec\u539f\u672c\u5728\u4ee5\u592a\u574a\u4e0a\u90e8\u7f72\u7684\u667a\u80fd\u5408\u7ea6\uff0c\u76f4\u63a5\u8fc1\u79fb\u5230 Hyperliquid \u4e0a\u8fd0\u884c\uff0c\u800c\u4e14\u57fa\u672c\u4e0d\u7528\u6539\u3002<\/p>\n<p>\u4f60\u53ef\u4ee5\u628a\u5b83\u7406\u89e3\u4e3a\u4e00\u5757\u300c\u7a7a\u767d\u753b\u5e03\u300d\u3002\u5f00\u53d1\u8005\u53ef\u4ee5\u5728\u4e0a\u9762\u90e8\u7f72\u5408\u7ea6\u3001\u8fd0\u884c\u903b\u8f91\uff0c\u5c31\u50cf\u4ed6\u4eec\u5728\u4ee5\u592a\u574a\u4e0a\u505a\u7684\u90a3\u6837\u3002<\/p>\n<p>\u4ece\u8868\u9762\u770b\uff0c\u5b83\u548c\u4ee5\u592a\u574a\u7684\u4f7f\u7528\u4f53\u9a8c\u5f88\u50cf\u3002\u4ee5\u592a\u574a\u8fc7\u53bb\u51e0\u5e74\u79ef\u7d2f\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%88%9b%e6%96%b0\" title=\"View all posts in \u521b\u65b0\" target=\"_blank\" class=\"tag_link\">\u521b\u65b0<\/a> \u2014 \u2014 \u5f00\u53d1\u5de5\u5177\u3001\u5408\u7ea6\u6807\u51c6\u3001\u5e94\u7528\u6a21\u5f0f \u2014 \u2014 \u90fd\u53ef\u4ee5\u5728 Hyperliquid \u4e0a\u590d\u7528\u3002<\/p>\n<p>Kevin\uff1a\u8bf4\u8bf4\u4f60\u5bf9 HyperEVM \u76ee\u524d\u8868\u73b0\u7684\u771f\u5b9e\u770b\u6cd5\u3002<\/p>\n<p>Jeff\uff1a\u8fd9\u662f\u4e2a\u6709\u70b9\u5fae\u5999\u7684\u95ee\u9898\u3002<\/p>\n<p>\u9996\u5148\uff0c\u6211\u89c9\u5f97\u5916\u754c\u5bf9 HyperEVM \u7684\u4e00\u4e2a\u8bef\u89e3\u662f \u2014 \u2014 \u8ba4\u4e3a\u5b83\u300c\u6ca1\u6709\u6210\u529f\u300d\u3002\u5982\u679c\u9700\u8981\uff0c\u6211\u53ef\u4ee5\u4e3e\u51fa\u5f88\u591a\u5b83\u505a\u5f97\u5f88\u597d\u7684\u4f8b\u5b50\u3002<\/p>\n<p>\u4f46\u66f4\u91cd\u8981\u7684\u662f\uff0c\u5982\u679c\u4f60\u518d\u5f80\u4e0b\u4e00\u5c42\u770b\uff0cHyperEVM \u4e0d\u53ea\u662f\u300c\u628a\u4ee5\u592a\u574a\u90a3\u5957\u4e1c\u897f\u642c\u8fc7\u6765\u300d\u3002\u5b83\u771f\u6b63\u7684\u72ec\u7279\u4e4b\u5904\u5728\u4e8e\uff1a\u5b83\u8ba9\u667a\u80fd\u5408\u7ea6\u7b2c\u4e00\u6b21\u53ef\u4ee5\u76f4\u63a5\u8c03\u7528 Hyperliquid \u539f\u751f\u7684\u94fe\u4e0a\u57fa\u7840\u80fd\u529b\u3002\u8fd9\u70b9\u975e\u5e38\u5173\u952e\u3002<\/p>\n<p>\u6211\u89c9\u5f97\u8fd9\u4e00\u70b9\u7684\u53d9\u4e8b\u8fd8\u6ca1\u6709\u88ab\u5145\u5206\u7406\u89e3\u3002HyperEVM \u4e0d\u53ea\u662f\u53e6\u4e00\u4e2a\u72ec\u7acb\u7684 EVM \u94fe\u3002\u5b83\u66f4\u50cf\u662f\u4e00\u4e2a\u300c\u5165\u53e3\u300d \u2014 \u2014 \u4e00\u4e2a\u53ef\u4ee5\u76f4\u63a5\u8fde\u63a5\u5230 Hyperliquid \u539f\u751f\u6d41\u52a8\u6027\u548c\u94fe\u4e0a\u57fa\u7840\u8bbe\u65bd\u7684\u63a5\u53e3\u3002<\/p>\n<p>\u6240\u4ee5\u5f53\u4eba\u4eec\u8bc4\u4f30 HyperEVM \u65f6\uff0c\u4e0d\u5e94\u8be5\u628a\u5b83\u7b80\u5355\u5730\u548c\u5176\u4ed6\u5b8c\u5168\u81ea\u6210\u4f53\u7cfb\u7684 EVM \u94fe\u5bf9\u6bd4\u3002\u5b83\u4e0d\u662f\u4e00\u4e2a\u5b64\u7acb\u751f\u6001\uff0c\u800c\u662f\u4e00\u4e2a\u901a\u5f80 Hyperliquid \u6838\u5fc3\u80fd\u529b\u7684\u95e8\u6237\u3002\u4ece\u8fd9\u4e2a\u89d2\u5ea6\u770b\uff0c\u5b83\u7684\u610f\u4e49\u5c31\u5b8c\u5168\u4e0d\u540c\u4e86\u3002<\/p>\n<h4>\u4e3a\u4ec0\u4e48 HyperEVM \u88ab\u4f4e\u4f30<\/h4>\n<p>Kevin\uff1a\u7b80\u5355\u6765\u8bf4\uff0c\u662f\u4e0d\u662f\u5927\u5bb6\u8fd8\u6ca1\u6709\u771f\u6b63\u7406\u89e3 HyperEVM\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u89c9\u5f97\u6709\u4e00\u90e8\u5206\u4eba\u7406\u89e3\u4e86\uff0c\u4f46\u8fd9\u79cd\u7406\u89e3\u8fd8\u6ca1\u6709\u771f\u6b63\u8fdb\u5165\u4e3b\u6d41\u53d9\u4e8b\u3002\u4e3e\u4e2a\u5177\u4f53\u4f8b\u5b50\u3002\u8fc7\u53bb\u6709\u4e00\u4e2a\u957f\u671f\u7684\u6279\u8bc4\u662f\uff1a\u300c\u4e3a\u4ec0\u4e48 Circle \u8fd8\u6ca1\u6709\u6df1\u5ea6\u96c6\u6210\uff1f\u300d<\/p>\n<p>\u95ee\u9898\u5728\u4e8e\uff0cHyperCore \u672c\u8eab\u662f\u5b8c\u5168\u539f\u751f\u5b9e\u73b0\u7684\u4e00\u6574\u5957\u91d1\u878d\u57fa\u7840\u539f\u8bed\uff0c\u6bd4\u5982\u8d26\u6237\u4f59\u989d\u8d26\u672c\u7b49\u3002\u8fd9\u79cd\u67b6\u6784\u548c\u4f20\u7edf\u901a\u7528\u578b\u516c\u94fe\u7684\u7ed3\u6784\u4e0d\u592a\u4e00\u6837\u3002\u5bf9\u4e8e\u5df2\u7ecf\u6709\u6210\u719f\u57fa\u7840\u8bbe\u65bd\u3001\u4e13\u95e8\u9002\u914d\u901a\u7528\u516c\u94fe\u7684\u516c\u53f8\u6765\u8bf4\uff0c\u8981\u76f4\u63a5\u5bf9\u63a5 HyperCore \u5176\u5b9e\u975e\u5e38\u56f0\u96be\u3002\u800c HyperEVM \u7684\u610f\u4e49\u5c31\u5728\u8fd9\u91cc \u2014 \u2014 \u5b83\u63d0\u4f9b\u4e86\u4e00\u79cd\u6865\u6881\u3002<\/p>\n<p>\u6bd4\u5982\u539f\u751f USDC \u7684\u94f8\u9020\u548c\u9500\u6bc1\u903b\u8f91\uff0c\u53ef\u4ee5\u901a\u8fc7 Circle \u73b0\u6709\u7684 Hub \u2014 and \u2014 Spoke \u7f51\u7edc\u7ed3\u6784\u6765\u5b8c\u6210\uff1a\u4f60\u53ef\u4ee5\u5728\u4e00\u6761\u94fe\u4e0a\u9500\u6bc1\uff0c\u5728\u53e6\u4e00\u6761\u94fe\u4e0a\u94f8\u9020\u3002HyperEVM \u5c31\u662f\u88ab\u652f\u6301\u7684\u94fe\u4e4b\u4e00\u3002<\/p>\n<p>\u4f46\u8981\u771f\u6b63\u7406\u89e3\u8fd9\u4e00\u70b9\uff0c\u4f60\u5fc5\u987b\u7406\u89e3\u6574\u4e2a\u67b6\u6784\u8bbe\u8ba1\u7684\u76ee\u7684\u3002\u5b83\u4e0d\u662f\u5355\u7eaf\u300c\u4e0a\u7ebf\u4e00\u4e2a EVM \u73af\u5883\u300d\uff0c\u800c\u662f\u8ba9\u5916\u90e8\u57fa\u7840\u8bbe\u65bd\u53ef\u4ee5\u4ee5\u6807\u51c6\u65b9\u5f0f\u63a5\u5165\uff0c\u540c\u65f6\u53c8\u80fd\u4e0e HyperCore \u7684\u539f\u751f\u80fd\u529b\u6df1\u5ea6\u4ea4\u4e92\u3002<\/p>\n<p>\u95ee\u9898\u5728\u4e8e \u2014 \u2014 \u5f53\u8fd9\u4e9b\u96c6\u6210\u505a\u5f97\u8db3\u591f\u597d\u65f6\uff0c\u5b83\u4eec\u662f\u300c\u65e0\u611f\u300d\u7684\u3002\u7528\u6237\u4f53\u9a8c\u4e0a\u975e\u5e38\u987a\u6ed1\uff0c\u4f60\u4e0d\u4f1a\u610f\u8bc6\u5230\u8fd9\u80cc\u540e\u662f HyperCore \u4e0e HyperEVM \u7684\u7279\u6b8a\u4ea4\u4e92\u624d\u5b9e\u73b0\u7684\u3002\u4e5f\u6b63\u56e0\u4e3a\u5982\u6b64\uff0c\u5f88\u96be\u5f62\u6210\u4e00\u79cd\u300c\u663e\u6027\u6210\u529f\u6848\u4f8b\u300d\u7684\u53d9\u4e8b\u3002<\/p>\n<p>\u5f88\u591a\u4eba\u4f1a\u95ee\uff1a\u300c\u4e3a\u4ec0\u4e48\u6211\u6ca1\u6709\u542c\u5230 HyperEVM \u7684\u6210\u529f\u6545\u4e8b\uff1f\u300d\u4e00\u65b9\u9762\uff0c\u5f88\u591a\u771f\u6b63\u5927\u7684\u5e94\u7528\u4ecd\u5728\u6301\u7eed Build \u3002\u53e6\u4e00\u65b9\u9762\uff0c\u90a3\u4e9b\u5df2\u7ecf\u6210\u529f\u7684\u96c6\u6210\uff0c\u6070\u6070\u56e0\u4e3a\u505a\u5f97\u8db3\u591f\u539f\u751f\u3001\u8db3\u591f\u81ea\u7136\uff0c\u53cd\u800c\u4e0d\u663e\u5f97\u300c\u7279\u522b\u300d\u3002\u5982\u679c\u4e00\u4e2a\u57fa\u7840\u8bbe\u65bd\u771f\u6b63\u6210\u529f\uff0c\u5b83\u770b\u8d77\u6765\u5c31\u50cf\u7406\u6240\u5f53\u7136\u7684\u5b58\u5728\u3002\u8fd9\u67d0\u79cd\u7a0b\u5ea6\u4e0a\uff0c\u4e5f\u662f\u4e00\u79cd\u88ab\u4f4e\u4f30\u7684\u539f\u56e0\u3002<\/p>\n<h4>HIP-3\uff1aPermissionless Perps \u7684\u610f\u4e49\u4e0e\u6311\u6218<\/h4>\n<p>Kevin\uff1a\u53e6\u5916\u4e00\u9879\u4f60\u4eec\u53bb\u5e74\u63a8\u51fa\u7684\u4e1c\u897f\uff0c\u53ef\u80fd\u5bf9\u5927\u591a\u6570\u4eba\u6765\u8bf4\u5f53\u65f6\u5e76\u4e0d\u90a3\u4e48\u5bb9\u6613\u7406\u89e3\uff0c\u4f46\u73b0\u5728\u6211\u4eec\u5df2\u7ecf\u901a\u8fc7\u8fd9\u4e2a HYPE \u7684 HIP-3 \u2014 \u2014 Permissionless Perps\uff08\u65e0\u9700\u8bb8\u53ef\u7684\u6c38\u7eed\u5408\u7ea6\uff09 \u2014 \u2014 \u770b\u5230\u4e86\u975e\u5e38\u5177\u4f53\u7684\u6210\u679c\u3002\u8fd9\u5230\u5e95\u662f\u4ec0\u4e48\u610f\u601d\uff1f\u80fd\u4e0d\u80fd\u5c3d\u91cf\u7528\u6700\u7b80\u5355\u7684\u65b9\u5f0f\u89e3\u91ca\u4e00\u4e0b\uff1f<\/p>\n<p>Jeff\uff1a\u7b80\u5355\u6765\u8bf4\uff0cPerps\uff08\u6c38\u7eed\u5408\u7ea6\uff09\u662f\u52a0\u5bc6\u884c\u4e1a\u6700\u91cd\u8981\u7684\u521b\u65b0\u4e4b\u4e00\u3002\u867d\u7136\u6c38\u7eed\u5408\u7ea6\u5728\u5b66\u672f\u6587\u732e\u4e2d\u53ef\u80fd\u65e9\u5c31\u6709\u7406\u8bba\u57fa\u7840\uff0c\u4f46\u771f\u6b63\u628a\u5b83\u5728\u5b9e\u52a1\u4e2d\u505a\u6210\u529f\u3001\u8bc1\u660e\u5b83\u4f5c\u4e3a\u4e00\u79cd\u66f4\u9ad8\u6548\u4ef7\u683c\u53d1\u73b0\u5de5\u5177\u7684\uff0c\u662f BitMEX\u3002\u5b83\u628a\u6d41\u52a8\u6027\u96c6\u4e2d\u5728\u4e00\u4e2a\u6c38\u4e0d\u5230\u671f\u7684\u5408\u7ea6\u4e0a\uff0c\u4ece\u800c\u63d0\u5347\u4e86\u5e02\u573a\u6548\u7387\u3002<\/p>\n<p>HIP-3 \u7684\u6838\u5fc3\u7406\u5ff5\u5176\u5b9e\u5f88\u7b80\u5355\uff1a\u5728\u6c38\u7eed\u5408\u7ea6\u8fd9\u4ef6\u4e8b\u4e0a\uff0c\u52a0\u5bc6\u884c\u4e1a\u5e76\u6ca1\u6709\u4ec0\u4e48\u300c\u72ec\u6709\u300d\u7684\u9650\u5236\u3002\u56e0\u6b64\uff0c\u53ea\u8981\u67d0\u4e2a\u8d44\u4ea7\u662f\u6d41\u52a8\u6027\u5145\u8db3\u3001\u5df2\u7ecf\u6709\u671f\u8d27\u6216\u671f\u6743\u5e02\u573a\u5b58\u5728\u7684\uff0c\u90a3\u5c31\u5e94\u8be5\u4e5f\u53ef\u4ee5\u6709\u5bf9\u5e94\u7684\u6c38\u7eed\u5408\u7ea6\u3002\u6211\u4eec\u5e76\u4e0d\u662f\u8bf4\u6c38\u7eed\u5408\u7ea6\u4e00\u5b9a\u6bd4\u6240\u6709\u5176\u4ed6\u884d\u751f\u54c1\u66f4\u597d\uff0c\u4f46\u7528\u6237\u5e94\u8be5\u62e5\u6709\u8fd9\u4e2a\u9009\u62e9\u6743\u3002<\/p>\n<p>\u6211\u4e2a\u4eba\u4e00\u76f4\u8ba4\u4e3a\uff0c\u5982\u679c\u4f20\u7edf\u91d1\u878d\u5728\u66f4\u591a\u8d44\u4ea7\u7c7b\u522b\u4e0a\u5e7f\u6cdb\u91c7\u7528\u6c38\u7eed\u5408\u7ea6\uff0c\u5e02\u573a\u4e0a\u76f8\u5f53\u4e00\u90e8\u5206\u4ea4\u6613\u6d41\u91cf\u4f1a\u8fc1\u79fb\u5230 Perps \u4e0a\u3002\u56e0\u4e3a\u5b83\u4eec\u662f\u8868\u8fbe\u89c2\u70b9\u6700\u76f4\u63a5\u3001\u6548\u7387\u6700\u9ad8\u7684\u5de5\u5177\u4e4b\u4e00\uff0c\u5c24\u5176\u662f\u5728\u6760\u6746\u548c\u53cc\u5411\u4ea4\u6613\u65b9\u9762\u3002<\/p>\n<p>HIP-3 \u7684\u4e00\u53e5\u8bdd\u603b\u7ed3\u5c31\u662f\uff1a\u5141\u8bb8\u4efb\u4f55\u4eba\u5728 Hyperliquid \u4e0a\u90e8\u7f72\u6c38\u7eed\u5408\u7ea6\uff0c\u4e5f\u5c31\u662f\u300cPermissionless Perps\u300d\u3002<\/p>\n<p>\u4f46\u5728\u8fd9\u53e5\u8bdd\u80cc\u540e\uff0c\u5176\u5b9e\u6709\u5927\u91cf\u590d\u6742\u7684\u5de5\u4f5c\u3002\u56e0\u4e3a\u5728\u6b64\u4e4b\u524d\uff0c\u4ece\u672a\u771f\u6b63\u6709\u4eba\u6784\u5efa\u8fc7\u4e00\u4e2a\u5b8c\u5168\u65e0\u8bb8\u53ef\u7684\u6c38\u7eed\u5408\u7ea6\u90e8\u7f72\u7cfb\u7edf\u3002\u6bd4\u5982\uff0c\u6709\u5f88\u591a\u6838\u5fc3\u95ee\u9898\u9700\u8981\u89e3\u51b3\uff1a<\/p>\n<ul>\n<li>\n<p>\u7b2c\u4e00\uff0c\u534f\u8bae\u662f\u5426\u53ef\u4ee5\u628a\u50cf Oracle \u5b9e\u65f6\u66f4\u65b0\u8fd9\u6837\u6781\u5176\u5173\u952e\u7684\u529f\u80fd\uff0c\u4ea4\u7ed9\u4e00\u4e2a\u65e0\u8bb8\u53ef\u7684\u90e8\u7f72\u4f53\u7cfb\uff1f<\/p>\n<\/li>\n<li>\n<p>\u7b2c\u4e8c\uff0c\u6c38\u7eed\u5408\u7ea6\u4e0e\u4fdd\u8bc1\u91d1\u7cfb\u7edf\u9ad8\u5ea6\u8026\u5408\uff0c\u4e00\u65e6\u53d8\u6210 permissionless\uff0c\u5c31\u4f1a\u51fa\u73b0\u5927\u91cf\u8fb9\u754c\u60c5\u51b5\u548c\u98ce\u9669\u573a\u666f\uff0c\u9700\u8981\u975e\u5e38\u4e25\u5bc6\u5730\u8bbe\u8ba1\u3002<\/p>\n<\/li>\n<li>\n<p>\u7b2c\u4e09\uff0c\u5982\u4f55\u5728\u5f00\u653e\u90e8\u7f72\u7684\u524d\u63d0\u4e0b\uff0c\u4f9d\u7136\u4fdd\u6301\u7cfb\u7edf\u7684\u7a33\u5065\u6027\u4e0e\u5b89\u5168\u6027\uff1f\u8fd9\u4e9b\u95ee\u9898\u90fd\u4e0d\u662f\u7b80\u5355\u6539\u51e0\u884c\u4ee3\u7801\u5c31\u80fd\u89e3\u51b3\u7684\uff0c\u5b83\u4eec\u6df1\u5ea6\u4ea4\u7ec7\u5728\u4e00\u8d77\u3002\u9664\u6b64\u4e4b\u5916\uff0c\u8fd8\u9700\u8981\u6784\u5efa\u8005\u771f\u6b63\u6295\u5165\u65f6\u95f4\u53bb\u7406\u89e3\u4e00\u4e2a\u5168\u65b0\u7684\u673a\u5236\uff0c\u5e76\u613f\u610f\u5728\u4e0a\u9762\u6784\u5efa\u5e94\u7528\u3002\u8fd9\u672c\u8eab\u4e5f\u9700\u8981\u65f6\u95f4\u3002<\/p>\n<\/li>\n<\/ul>\n<p>\u8001\u5b9e\u8bf4\uff0c\u5728 HIP-3 \u63a8\u51fa\u4e4b\u524d\uff0c\u5f88\u591a\u4eba\u53ef\u80fd\u89c9\u5f97\u5b83\u672a\u5fc5\u80fd\u6210\u529f\u3002\u6211\u4eec\u81ea\u5df1\u4e5f\u65e0\u6cd5\u767e\u5206\u4e4b\u767e\u786e\u5b9a\u5b83\u4e00\u5b9a\u4f1a\u6210\u529f\u3002\u4f46\u4ece\u903b\u8f91\u4e0a\u770b\uff0c\u5b83\u5e94\u8be5\u662f\u53ef\u884c\u7684\u3002<\/p>\n<p>\u800c\u4e14\uff0c\u5f53\u4e00\u4e2a\u751f\u6001\u7cfb\u7edf\u4e2d\u805a\u96c6\u4e86\u5927\u91cf\u6709\u80fd\u529b\u7684\u5f00\u53d1\u8005\uff0c\u4ee5\u53ca\u771f\u6b63\u8ba4\u540c\u8fd9\u4e2a\u751f\u6001\u3001\u613f\u610f\u5e2e\u52a9\u542f\u52a8\u65b0\u7f51\u7edc\u6548\u5e94\u7684\u7528\u6237\u65f6\uff0c\u90a3\u4e48\u8fd9\u79cd\u521b\u65b0\u5982\u679c\u8981\u6210\u529f\uff0c\u5c31\u5e94\u8be5\u5728\u8fd9\u6837\u7684\u5730\u65b9\u6210\u529f \u2014 \u2014 \u5728 Hyperliquid \u8fd9\u6837\u7684\u73af\u5883\u91cc\uff0c\u5b83\u5177\u5907\u6210\u529f\u7684\u571f\u58e4\u3002<\/p>\n<h4>Hyperliquid \u4e0e\u4e2d\u5fc3\u5316\u6c38\u7eed\u5e73\u53f0\u6a21\u5f0f\u7684\u6839\u672c\u5dee\u5f02<\/h4>\n<p>Kevin\uff1a\u4f60\u80fd\u89e3\u91ca\u4e00\u4e0b\u4f60\u4eec\u5728\u505a\u7684\u4e8b\u60c5\uff0c\u4e0e\u5176\u4ed6\u6240\u6709\u4eba\u6b63\u5728\u505a\u7684\u4e8b\u60c5\u4e4b\u95f4\u6709\u4ec0\u4e48\u533a\u522b\u5417\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u4e0d\u592a\u597d\u8bc4\u4ef7\u300c\u6240\u6709\u4eba\u300d\u5728\u505a\u4ec0\u4e48\uff0c\u4f46\u6211\u770b\u5230\u7684\u5f88\u591a\u975e\u52a0\u5bc6\u80cc\u666f\u4e0b\u505a\u6c38\u7eed\u5408\u7ea6\uff08Perps\uff09\u7684\u5c1d\u8bd5\uff0c\u57fa\u672c\u903b\u8f91\u662f\u8fd9\u6837\u7684\uff1a\u4e00\u4e2a\u4ea4\u6613\u6240\u539f\u672c\u5c31\u5728\u8fd0\u884c\u52a0\u5bc6\u6c38\u7eed\u5408\u7ea6\u4e1a\u52a1\uff0c\u7136\u540e\u5b83\u8bf4\uff0c\u300c\u6211\u4eec\u518d\u63a5\u5165\u5176\u4ed6\u8d44\u4ea7\u7684\u4ef7\u683c\u6570\u636e\u6e90\uff08feed\uff09\uff0c\u7136\u540e\u7528\u540c\u6837\u7684\u65b9\u5f0f\u63d0\u4f9b\u8fd9\u4e9b\u8d44\u4ea7\u7684\u6c38\u7eed\u5408\u7ea6\u3002\u300d<\/p>\n<p>\u8fd9\u79cd\u6a21\u5f0f\u5728\u5f88\u591a\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u90fd\u80fd\u770b\u5230\uff0c\u4e5f\u80fd\u5728\u4e00\u4e9b\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4e2d\u770b\u5230\u3002\u6838\u5fc3\u601d\u8def\u5176\u5b9e\u662f\uff1a\u540c\u4e00\u4e2a\u5e73\u53f0\u3001\u540c\u4e00\u5957\u67b6\u6784\u3001\u540c\u4e00\u4e2a\u56e2\u961f\uff0c\u53bb\u4e0a\u67b6\u66f4\u591a\u8d44\u4ea7\u7684\u6c38\u7eed\u5408\u7ea6\u4ea7\u54c1\u3002<\/p>\n<p>Kevin\uff1a\u90a3\u4f60\u4eec\u7684\u505a\u6cd5\u548c\u8fd9\u4e9b\u73a9\u5bb6\u76f8\u6bd4\uff0c\u771f\u6b63\u7684\u5dee\u5f02\u5728\u54ea\u91cc\uff1f\u4e3a\u4ec0\u4e48\u7528\u6237\u5e94\u8be5\u5728\u610f\uff1f<\/p>\n<p>Jeff\uff1a\u5bf9\u7ec8\u7aef\u7528\u6237\u6765\u8bf4\uff0c\u5176\u5b9e\u672a\u5fc5\u9700\u8981\u5173\u5fc3\u5e95\u5c42\u662f\u600e\u4e48\u5b9e\u73b0\u7684\u3002\u4f46\u5982\u679c\u6211\u4eec\u771f\u7684\u60f3\u628a\u6574\u4e2a\u91d1\u878d\u4f53\u7cfb\u642c\u5230\u94fe\u4e0a\uff0c\u90a3\u5c31\u5fc5\u987b\u8ba9\u771f\u6b63\u61c2\u67d0\u4e2a\u9886\u57df\u7684\u300c\u9886\u57df\u4e13\u5bb6\u300d\u6765\u90e8\u7f72\u548c\u6784\u5efa\u8fd9\u4e9b\u4ea7\u54c1\u3002<\/p>\n<p>\u4f60\u770b\u4f20\u7edf\u91d1\u878d\u4f53\u7cfb\uff0c\u6bcf\u4e2a\u56fd\u5bb6\u90fd\u6709\u81ea\u5df1\u7684\u4ea4\u6613\u6240\u4f53\u7cfb\uff1b\u5728\u56fd\u5bb6\u4e4b\u4e0b\uff0c\u53c8\u6709\u4e0d\u540c\u7684\u8d44\u4ea7\u7c7b\u522b\uff1b\u4e0d\u540c\u8d44\u4ea7\u7c7b\u522b\u5728\u4e0d\u540c\u4ea4\u6613\u6240\u4ea4\u6613\uff0c\u6709\u4e0d\u540c\u7684\u89c4\u5219\uff1b\u751a\u81f3\u5728\u540c\u4e00\u56fd\u5bb6\u5185\uff0c\u4e0d\u540c\u8d44\u4ea7\u7c7b\u522b\u8fd8\u6709\u4e0d\u540c\u7684\u4ea4\u6613\u63a5\u53e3\u3002\u4e0d\u65ad\u7ec6\u5206\u4e0b\u53bb\uff0c\u4f60\u4f1a\u53d1\u73b0\u91d1\u878d\u884c\u4e1a\u672c\u8d28\u4e0a\u662f\u9ad8\u5ea6\u4e13\u4e1a\u5316\u7684\u3002<\/p>\n<p>\u5f53\u7136\uff0c\u5176\u4e2d\u4e00\u90e8\u5206\u590d\u6742\u6027\u786e\u5b9e\u6765\u81ea\u4f20\u7edf\u91d1\u878d\u7cfb\u7edf\u672c\u8eab\u7684\u4f4e\u6548\u7387\u3002\u52a0\u5bc6\u884c\u4e1a\u5728\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u6d88\u9664\u4e86\u90e8\u5206\u4e2d\u95f4\u73af\u8282\u3002\u4f46\u53e6\u4e00\u65b9\u9762\uff0c\u91d1\u878d\u672c\u8eab\u89c4\u6a21\u592a\u5927\u4e86\uff0c\u4e0d\u53ef\u80fd\u7531\u4e00\u4e2a\u56e2\u961f\u5b8c\u5168\u6784\u5efa\u3002<\/p>\n<p>\u5f88\u591a\u5927\u578b\u91d1\u878d\u516c\u53f8\u53ef\u80fd\u4f1a\u9009\u62e9\u53e6\u4e00\u79cd\u8def\u5f84\uff1a\u7ee7\u7eed\u7ef4\u6301\u4e00\u4e2a\u4e2d\u5fc3\u5316\u7684\u300c\u8d85\u7ea7\u5e73\u53f0\u300d\uff0c\u8bd5\u56fe\u628a\u7528\u6237\u7684\u6574\u4e2a\u91d1\u878d\u751f\u6d3b\u90fd\u6574\u5408\u5728\u4e00\u4e2a\u5730\u65b9\u3002\u5b83\u4eec\u53ef\u80fd\u901a\u8fc7<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%94%b6%e8%b4%ad\" title=\"View all posts in \u6536\u8d2d\" target=\"_blank\" class=\"tag_link\">\u6536\u8d2d<\/a>\u3001\u5408\u4f5c\uff0c\u6216\u8005\u5185\u90e8\u5f00\u53d1\uff0c\u628a\u6240\u6709\u8d44\u4ea7\u7c7b\u522b\u6574\u5408\u5230\u4e00\u4e2a\u7edf\u4e00\u4f53\u7cfb\u4e2d\u3002\u8fd9\u662f\u4e00\u79cd\u81ea\u4e0a\u800c\u4e0b\u7684\u6574\u5408\u65b9\u5f0f\u3002<\/p>\n<p>\u8fd9\u79cd\u6a21\u5f0f\u786e\u5b9e\u63a8\u8fdb\u66f4\u5feb\uff0c\u788e\u7247\u5316\u66f4\u5c11\uff0c\u521d\u671f\u7528\u6237\u4f53\u9a8c\u4e5f\u53ef\u80fd\u66f4\u597d\u3002\u4f46\u95ee\u9898\u662f\uff0c\u5b83\u975e\u5e38\u8106\u5f31\u3002\u4e00\u65e6\u51fa\u73b0\u95ee\u9898\uff0c\u5f80\u5f80\u662f\u56e0\u4e3a\u6743\u529b\u8fc7\u5ea6\u96c6\u4e2d\u5728\u5355\u4e00\u5b9e\u4f53\u624b\u4e2d\u3002\u5f53\u4e00\u4e2a\u7cfb\u7edf\u628a\u6240\u6709\u4e1c\u897f\u90fd\u96c6\u4e2d\u5728\u4e00\u8d77\u65f6\uff0c\u98ce\u9669\u4e5f\u88ab\u96c6\u4e2d\u5728\u4e00\u8d77\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a\uff0c\u6700\u7ec8\u7528\u6237\u4f1a\u9009\u62e9\u90a3\u4e2a\u771f\u6b63\u8d4b\u4e88\u4ed6\u4eec\u91d1\u878d\u4e3b\u6743\u7684\u7cfb\u7edf\u3002\u8fd9\u4e2a\u7cfb\u7edf\u5fc5\u987b\u662f\u5168\u7403\u53ef\u8bbf\u95ee\u7684\uff0c\u62e5\u6709\u8db3\u591f\u7684\u6d41\u52a8\u6027\uff0c\u5e76\u4e14\u5177\u5907\u4ed6\u4eec\u6240\u9700\u8981\u7684\u5404\u79cd\u529f\u80fd\u3002<\/p>\n<p>\u800c\u8981\u6784\u5efa\u8fd9\u6837\u4e00\u4e2a\u771f\u6b63\u670d\u52a1\u5168\u7403\u7528\u6237\u7684\u7cfb\u7edf\uff0c\u5b83\u5fc5\u987b\u5728\u591a\u4e2a\u7ef4\u5ea6\u4e0a\u5b9e\u73b0\u53bb\u4e2d\u5fc3\u5316\u3002\u6240\u6709\u6743\u53bb\u4e2d\u5fc3\u5316\u662f\u5176\u4e2d\u4e00\u4e2a\u91cd\u8981\u539f\u5219\uff0c\u8fd9\u4e5f\u662f Hyperliquid \u5f3a\u8c03\u7684\u6838\u5fc3\u4e4b\u4e00\u3002\u4f46\u540c\u6837\u91cd\u8981\u7684\u662f \u2014 \u2014 \u5728\u300c\u8c01\u6765\u6784\u5efa\u7528\u6237\u5b9e\u9645\u4ea4\u4e92\u7684\u6838\u5fc3\u4ea7\u54c1\u300d\u8fd9\u4e00\u70b9\u4e0a\uff0c\u4e5f\u5fc5\u987b\u662f\u53bb\u4e2d\u5fc3\u5316\u7684\u3002<\/p>\n<p>\u8fd9\u5c31\u662f\u6211\u4eec\u4e0e\u5176\u4ed6\u4ea4\u6613\u5e73\u53f0\u7684\u6839\u672c\u5dee\u5f02\uff1a\u4e0d\u662f\u7531\u4e00\u4e2a\u4e2d\u5fc3\u5316\u56e2\u961f\u7edf\u4e00\u4e0a\u67b6\u6240\u6709\u8d44\u4ea7\u7684\u6c38\u7eed\u5408\u7ea6\uff0c\u800c\u662f\u6784\u5efa\u4e00\u4e2a\u5f00\u653e\u7684\u4f53\u7cfb\uff0c\u8ba9\u4e0d\u540c\u9886\u57df\u7684\u6784\u5efa\u8005\u80fd\u591f\u5728\u540c\u4e00\u5e95\u5c42\u534f\u8bae\u4e4b\u4e0a\u90e8\u7f72\u4ed6\u4eec\u771f\u6b63\u7406\u89e3\u3001\u771f\u6b63\u64c5\u957f\u7684\u5e02\u573a\u3002<\/p>\n<h4>\u4e3a\u4ec0\u4e48\u5fc5\u987b\u628a\u6240\u6709\u91d1\u878d\u5e26\u4e0a\u94fe<\/h4>\n<p>Kevin\uff1a\u8bf7\u7528\u4e00\u53e5\u8bdd\u8bf4\u660e\uff1a\u4e3a\u4ec0\u4e48\u628a\u6574\u4e2a\u91d1\u878d\u4f53\u7cfb\u642c\u5230\u94fe\u4e0a\u5982\u6b64\u91cd\u8981\uff1f<\/p>\n<p>Jeff\uff1a\u56e0\u4e3a\u5982\u679c\u4e0d\u8fd9\u6837\u505a\uff0c\u91d1\u878d\u4f53\u7cfb\u5c31\u4f1a\u843d\u540e\u4e8e\u79d1\u6280\u53d1\u5c55\u7684\u901f\u5ea6\u3002\u4e16\u754c\u53d8\u5316\u5f97\u592a\u5feb\u4e86\uff0c\u4f20\u7edf\u91d1\u878d\u7cfb\u7edf\u65e0\u6cd5\u8ddf\u4e0a\u8fd9\u79cd\u8282\u594f\uff0c\u4e5f\u65e0\u6cd5\u6ee1\u8db3\u7528\u6237\u5728\u4e00\u4e2a\u9ad8\u901f\u6f14\u8fdb\u73af\u5883\u4e2d\u7684\u9700\u6c42\u3002<\/p>\n<p>Kevin\uff1a\u4e3a\u4ec0\u4e48 Hyperliquid \u7684\u65b9\u5f0f\u66f4\u597d\uff1f<\/p>\n<p>Jeff\uff1a\u8fd9\u5176\u5b9e\u4e0d\u53ea\u662f Hyperliquid \u7684\u65b9\u5f0f\u3002Hyperliquid \u53ea\u662f\u8df5\u884c\u4e86 DeFi \u4e00\u76f4\u4ee5\u6765\u575a\u6301\u7684\u4ef7\u503c\u89c2\u3002\u6211\u4eec\u53ea\u662f\u4f5c\u4e3a\u4e00\u4e2a\u793e\u533a\uff0c\u5728\u5c1d\u8bd5\u7528\u4e00\u79cd\u66f4\u6709\u673a\u4f1a\u771f\u6b63\u6210\u529f\u3001\u771f\u6b63\u5b9e\u73b0\u5927\u89c4\u6a21\u91c7\u7528\u7684\u65b9\u5f0f\u53bb\u6267\u884c\u8fd9\u4e9b\u7406\u5ff5\u3002<\/p>\n<p>\u8fd9\u4e9b\u6838\u5fc3\u4ef7\u503c\u5305\u62ec\uff1a\u91d1\u878d\u4f53\u7cfb\u4e0d\u5e94\u8be5\u88ab\u516c\u53f8\u63a7\u5236\uff0c\u800c\u5e94\u8be5\u50cf\u4e92\u8054\u7f51\u4e00\u6837\uff0c\u662f\u4e00\u4e2a\u4e2d\u7acb\u7684\u57fa\u7840\u5c42\u3002<\/p>\n<p>\u4f60\u521a\u624d\u63d0\u5230 AWS\uff0c\u8fd9\u662f\u4e00\u4e2a\u6709\u610f\u601d\u7684\u4f8b\u5b50\u3002\u867d\u7136 AWS \u7531\u516c\u53f8\u63a7\u5236\uff0c\u4f46\u5728\u67d0\u79cd\u610f\u4e49\u4e0a\uff0c\u5b83\u50cf\u662f\u4e2d\u7acb\u7684\u57fa\u7840\u8bbe\u65bd\u3002\u6ca1\u6709\u4eba\u4f1a\u8bf4\u300c\u4f60\u4e3a\u4ec0\u4e48\u9009\u62e9\u7528 AWS\uff1f\u8fd9\u662f\u4e00\u4e2a\u5e26\u6709\u7acb\u573a\u7684\u9009\u62e9\u3002\u300d\u5b83\u66f4\u50cf\u662f\u4e00\u79cd\u9ed8\u8ba4\u7684\u57fa\u7840\u8bbe\u65bd\u3002<\/p>\n<p>\u91d1\u878d\u7cfb\u7edf\u4e5f\u5e94\u8be5\u5177\u5907\u8fd9\u79cd\u5c5e\u6027 \u2014 \u2014 \u6210\u4e3a\u4e00\u4e2a\u4e2d\u7acb\u7684\u3001\u5168\u7403\u53ef\u8bbf\u95ee\u7684\u57fa\u7840\u8bbe\u65bd\u3002\u4eba\u4eec\u4e0d\u5e94\u8be5\u56e0\u4e3a\u56fd\u7c4d\u3001\u8eab\u4efd\u3001\u662f\u5426\u6765\u81ea\u53d1\u8fbe\u56fd\u5bb6\uff0c\u800c\u88ab\u8feb\u5c42\u5c42\u5ba1\u6279\u3001\u8de8\u8d8a\u91cd\u91cd\u95e8\u69db\u624d\u80fd\u63a5\u5165\u91d1\u878d\u4f53\u7cfb\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u91d1\u878d\u7cfb\u7edf\u5e94\u8be5\u662f\u6df1\u5ea6\u53ef\u7f16\u7a0b\u7684\u3002\u4e0d\u662f\u90a3\u79cd\u5728\u4e00\u4e2a\u4e0d\u53ef\u7f16\u7a0b\u7684\u4f20\u7edf\u7cfb\u7edf\u4e0a\uff0c\u5916\u6302\u4e00\u4e9b\u300c\u53ef\u7f16\u7a0b\u529f\u80fd\u300d\u7684\u91d1\u878d\u79d1\u6280\u6a21\u5f0f\uff0c\u800c\u662f\u4ece\u5e95\u5c42\u5f00\u59cb\u5c31\u5efa\u7acb\u5728\u53ef\u7f16\u7a0b\u7684\u539f\u8bed\u4e4b\u4e0a\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u57fa\u7840\u6784\u4ef6\u672c\u8eab\u5c31\u662f\u4ee3\u7801\uff0c\u662f\u667a\u80fd\u5408\u7ea6\uff0c\u53ef\u4ee5\u88ab\u4eba\u7c7b\u3001\u667a\u80fd\u4f53\u4ee5\u53ca\u5404\u79cd\u7a0b\u5e8f\u76f4\u63a5\u4ea4\u4e92\u3002<\/p>\n<p>\u5982\u679c\u91d1\u878d\u8981\u8ddf\u4e0a\u6280\u672f\u53d1\u5c55\u7684\u901f\u5ea6\uff0c\u5b83\u5c31\u5fc5\u987b\u6210\u4e3a\u4e00\u79cd\u50cf\u4e92\u8054\u7f51\u4e00\u6837\u7684\u4e2d\u7acb\u3001\u53ef\u7f16\u7a0b\u3001\u5168\u7403\u5f00\u653e\u7684\u57fa\u7840\u8bbe\u65bd\u3002\u8fd9\u4e5f\u662f\u6211\u4eec\u8ba4\u4e3a\u5fc5\u987b\u628a\u6240\u6709\u91d1\u878d\u5e26\u4e0a\u94fe\u7684\u6839\u672c\u539f\u56e0\u3002<\/p>\n<h4>HIP-3 \u6570\u636e\u8868\u73b0\u4e0e\u767d\u94f6\u4ea4\u6613\u6848\u4f8b<\/h4>\n<p>Kevin\uff1a\u5982\u679c\u8fd9\u79cd\u65b9\u6cd5\u66f4\u597d\uff0c\u90a3\u4e48\u6570\u636e\u8868\u73b0\u4e5f\u5e94\u8be5\u66f4\u597d\u3002\u4f60\u80fd\u7ed9\u6211\u4eec\u4e00\u4e9b\u5173\u952e\u6570\u636e\uff0c\u6765\u8bc1\u660e Hyperliquid \u5728\u4ee5\u6b63\u786e\u7684\u65b9\u5f0f\u8fd0\u4f5c\u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u5417\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u8fd8\u662f\u60f3\u5148\u5f3a\u8c03\uff0c\u73b0\u5728\u4ecd\u7136\u662f\u975e\u5e38\u65e9\u671f\u9636\u6bb5\u3002\u672a\u6765\u4ece\u6765\u90fd\u4e0d\u662f\u786e\u5b9a\u7684\uff0c\u5355\u51ed\u77ed\u671f\u6570\u636e\uff0c\u5e76\u4e0d\u80fd\u8bc1\u660e\u957f\u671f\u4e00\u5b9a\u6210\u529f\u3002<\/p>\n<p>\u4f46\u8bdd\u867d\u5982\u6b64\uff0c\u73b0\u6709\u7684\u6570\u636e\u5df2\u7ecf\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u4f53\u73b0\u4e86 permissionless \u534f\u8bae\u7684\u529b\u91cf \u2014 \u2014 \u5f53\u4f60\u5141\u8bb8\u90e8\u7f72\u8005\u81ea\u7531\u53d1\u6325\u3001\u521b\u9020\u6027\u8868\u8fbe\u4ed6\u4eec\u7684\u80fd\u529b\uff0c\u5e76\u771f\u6b63\u53bb\u6267\u884c\u81ea\u5df1\u7684\u613f\u666f\u65f6\uff0c\u6548\u679c\u662f\u53ef\u4ee5\u91cf\u5316\u7684\u3002<\/p>\n<p>\u4e00\u4e2a\u975e\u5e38\u6709\u4ee3\u8868\u6027\u7684\u4f8b\u5b50\u662f\u767d\u94f6\u5e02\u573a\u3002\u6700\u8fd1\u5305\u62ec\u767d\u94f6\u5728\u5185\u7684\u4e00\u4e9b\u91d1\u5c5e\u8d44\u4ea7\u51fa\u73b0\u4e86\u975e\u5e38\u5267\u70c8\u7684\u6ce2\u52a8\uff0c\u8fde\u7eed\u591a\u65e5\u51fa\u73b0\u7c7b\u4f3c\u300c10 Sigma\u300d\u7ea7\u522b\u7684\u884c\u60c5\uff0c\u65e0\u8bba\u662f\u673a\u6784\u8fd8\u662f\u6563\u6237\u4ea4\u6613\u8005\uff0c\u90fd\u9ad8\u5ea6\u5173\u6ce8\u8fd9\u4e2a\u5e02\u573a\u3002<\/p>\n<p>\u5728 Hyperliquid \u4e0a\uff0c\u901a\u8fc7 HIP-3 \u4e0a\u7ebf\u7684\u76f8\u5173\u5e02\u573a\uff08\u4e3b\u8981\u7531\u9996\u4e2a\u90e8\u7f72\u8005 XYZ \u8fd0\u8425\uff09\uff0c\u5728\u767d\u94f6\u7684\u5168\u7403\u4ef7\u683c\u53d1\u73b0\u4e2d\uff0c\u5df2\u7ecf\u5360\u5230\u4e86\u5927\u7ea6 2% \u7684\u5168\u7403\u4ea4\u6613\u91cf\u3002<\/p>\n<p>2% \u542c\u8d77\u6765\u597d\u50cf\u4e0d\u5927\uff0c\u4f46\u5982\u679c\u653e\u5728\u5168\u7403\u767d\u94f6\u5e02\u573a\u8fd9\u4e2a\u4f53\u91cf\u4e0b\u6765\u770b\uff0c\u8fd9\u5176\u5b9e\u662f\u4e00\u4e2a\u76f8\u5f53\u60ca\u4eba\u7684\u6570\u5b57\u3002\u66f4\u91cd\u8981\u7684\u662f\uff0c\u8fd9\u4e9b HIP-3 \u5e02\u573a\u624d\u4e0a\u7ebf\u51e0\u4e2a\u6708\u65f6\u95f4\u3002\u5bf9\u4e00\u4e2a\u521a\u542f\u52a8\u4e0d\u4e45\u7684\u94fe\u4e0a\u6c38\u7eed\u5e02\u573a\u6765\u8bf4\uff0c\u8fd9\u662f\u975e\u5e38\u4ee4\u4eba\u9707\u64bc\u7684\u589e\u957f\u3002<\/p>\n<p>\u800c\u4e14\uff0c\u8fd9\u4e2a\u6210\u7ee9\u5e76\u4e0d\u662f\u6838\u5fc3\u56e2\u961f\u300c\u505a\u4ea4\u6613\u300d\u5e26\u6765\u7684\u3002\u6838\u5fc3\u56e2\u961f\u7684\u5de5\u4f5c\u662f\u6784\u5efa\u5e95\u5c42\u539f\u8bed\uff08primitives\uff09 \u2014 \u2014 HIP-3 \u672c\u8eab\u786e\u5b9e\u9700\u8981\u5927\u91cf\u5de5\u7a0b\u5de5\u4f5c\u3002\u4f46\u8fd9\u4e9b\u6d41\u52a8\u6027\u57fa\u7840\u8bbe\u65bd\u6700\u7ec8\u5982\u4f55\u88ab\u4f7f\u7528\uff0c\u5b8c\u5168\u53d6\u51b3\u4e8e\u9009\u62e9\u5728\u4e0a\u9762\u6784\u5efa\u7684\u5f00\u53d1\u8005\u3002<\/p>\n<p>\u8fd9\u66f4\u50cf\u662f\u5bf9\u6784\u5efa\u8005\u8d28\u91cf\u7684\u8bc1\u660e\uff1a\u4ed6\u4eec\u4e4b\u6240\u4ee5\u9009\u62e9 Hyperliquid\uff0c\u662f\u56e0\u4e3a\u53ea\u6709\u8fd9\u4e2a\u5e73\u53f0\u5141\u8bb8\u4ed6\u4eec\u5b9e\u73b0\u60f3\u8981\u6784\u5efa\u7684\u5e02\u573a\u7ed3\u6784\u3002<\/p>\n<p>Kevin\uff1a\u4f60\u521a\u624d\u8bf4\u6570\u636e\u5f00\u59cb\u53d8\u5f97\u6709\u610f\u601d\uff0c\u4f46\u4ecd\u7136\u5f88\u65e9\u671f\uff0c\u6240\u4ee5\u672a\u6765\u672a\u5fc5\u4e00\u5b9a\u6309\u8fd9\u4e2a\u65b9\u5411\u53d1\u5c55\u3002\u4e3a\u4ec0\u4e48\u4f1a\u8fd9\u4e48\u8bf4\uff1f<\/p>\n<p>Jeff\uff1a\u56e0\u4e3a\u5982\u679c\u4f60\u53ea\u662f\u56e0\u4e3a\u67d0\u4e2a\u7406\u5ff5\u76ee\u524d\u770b\u8d77\u6765\u6709\u8bc1\u636e\u652f\u6301\uff0c\u5c31\u8ba4\u4e3a\u5b83\u300c\u4e0d\u53ef\u52a8\u6447\u300d\uff0c\u8fd9\u662f\u975e\u5e38\u5371\u9669\u7684\u3002\u4e16\u754c\u53d8\u5316\u5f97\u592a\u5feb\u4e86\u3002<\/p>\n<p>\u6709\u4e9b\u539f\u5219\u662f\u76f8\u5bf9\u7a33\u5b9a\u7684\uff0c\u6bd4\u5982\uff1a\u91d1\u878d\u4f53\u7cfb\u5e94\u8be5\u5bf9\u5168\u7403\u6240\u6709\u4eba\u5f00\u653e\uff1b\u91d1\u878d\u4e0e\u4fe1\u606f\u4e00\u6837\uff0c\u5e94\u5b58\u5728\u4e8e\u5f00\u653e\u7cfb\u7edf\u4e2d\uff1b\u7528\u6237\u5e94\u8be5\u62e5\u6709\u91d1\u878d\u4e3b\u6743\u3002\u8fd9\u4e9b\u539f\u5219\u4e0d\u4f1a\u8f7b\u6613\u6539\u53d8\u3002\u4f46\u4efb\u4f55\u5177\u4f53\u5b9e\u73b0\u65b9\u5f0f\uff0c\u5982\u679c\u88ab\u8fc7\u5ea6\u56fa\u5316\uff0c\u5c31\u4f1a\u53d8\u5f97\u8106\u5f31\u3002<\/p>\n<p>\u5728\u6211\u4eec\u8bbe\u8ba1\u533a\u5757\u94fe\u6838\u5fc3\u539f\u8bed\u65f6\uff0c\u4e00\u4e2a\u91cd\u8981\u51fa\u53d1\u70b9\u662f\uff1a\u5f53\u6765\u81ea\u4e0d\u540c\u65b9\u5411\u7684\u6784\u5efa\u8005\u548c\u7528\u6237\u90fd\u5728\u53cd\u9988\u540c\u4e00\u4e2a\u95ee\u9898 \u2014 \u2014 \u300c\u6211\u4eec\u60f3\u505a\u67d0\u4ef6\u4e8b\uff0c\u4f46\u5f53\u524d\u7cfb\u7edf\u505a\u4e0d\u5230\u300d \u2014 \u2014 \u5982\u679c\u4f60\u53d1\u73b0\u8fd9\u4e9b\u53cd\u9988\u5b58\u5728\u4ea4\u96c6\uff0c\u90a3\u8fd9\u4e2a\u4ea4\u96c6\u672c\u8eab\uff0c\u5f80\u5f80\u5c31\u662f\u4e00\u4e2a\u503c\u5f97\u88ab\u5199\u5165\u534f\u8bae\u5c42\u7684\u57fa\u7840\u80fd\u529b\u3002<\/p>\n<p>\u5f53\u534f\u8bae\u5c42\u975e\u5e38\u514b\u5236\u3001\u975e\u5e38\u6709\u9009\u62e9\u6027\u5730\u51b3\u5b9a\u300c\u4ec0\u4e48\u5fc5\u987b\u6210\u4e3a\u539f\u751f\u539f\u8bed\uff0c\u4ec0\u4e48\u5e94\u8be5\u7559\u7ed9\u901a\u7528 EVM \u6216\u5e94\u7528\u5c42\u53bb\u505a\u300d\uff0c\u7cfb\u7edf\u5c31\u4f1a\u66f4\u52a0\u4f18\u96c5\uff0c\u4e5f\u66f4\u5177\u97e7\u6027\u3002<\/p>\n<p>\u8fd9\u6837\u4e00\u6765\uff0c\u534f\u8bae\u672c\u8eab\u4e0d\u8fc7\u5ea6\u5d4c\u5165\u67d0\u79cd\u7279\u5b9a\u5546\u4e1a\u6a21\u5f0f\u6216\u5e02\u573a\u5224\u65ad\uff0c\u800c\u662f\u628a\u300c\u5e26\u6709\u7acb\u573a\u7684\u51b3\u7b56\u300d\u7559\u7ed9\u6784\u5efa\u8005\u3002\u6784\u5efa\u8005\u53ef\u4ee5\u6839\u636e\u771f\u5b9e\u5e02\u573a\u53d8\u5316\u5feb\u901f\u8c03\u6574\uff0c\u800c\u5e95\u5c42\u4fdd\u6301\u4e2d\u7acb\u3002<\/p>\n<p>\u5305\u62ec HIP-3 \u5728\u5185\u7684\u6240\u6709 HIP \u63d0\u6848\uff0c\u5176\u5b9e\u80cc\u540e\u90fd\u6709\u8fd9\u6837\u7684\u601d\u8003\u903b\u8f91\u3002<\/p>\n<h4>\u73b0\u8d27\u4ea4\u6613\u529f\u80fd\u6210\u4e3a\u4ef7\u683c\u53d1\u73b0\u4e2d\u5fc3<\/h4>\n<p>Kevin\uff1a\u6211\u4eec\u4e4b\u524d\u8ba8\u8bba\u8fc7\u73b0\u8d27\u4ea4\u6613\uff08Spot Trading\uff09\u529f\u80fd\uff0c\u8fd9\u4e0d\u662f\u6838\u5fc3\u56e2\u961f\u5f00\u53d1\u7684\uff0c\u800c\u662f\u7531\u4e00\u4e2a\u53eb Unit \u7684\u56e2\u961f 2025 \u5e74\u6784\u5efa\u7684\u3002\u8fd9\u4ef6\u4e8b\u80fd\u8bf4\u660e\u4ec0\u4e48\u95ee\u9898\uff1f<\/p>\n<p>Jeff\uff1a2025 \u5e74\u5176\u5b9e\u6709\u51e0\u6b21\u975e\u5e38\u5173\u952e\u7684\u9879\u76ee\u4e0a\u7ebf\uff0c\u5728\u8fd9\u4e9b\u8d44\u4ea7\u7684\u65e9\u671f\u9636\u6bb5\uff0cHyperliquid \u6210\u4e3a\u4e86\u73b0\u8d27\u4ef7\u683c\u53d1\u73b0\u7684\u4e3b\u8981\u6765\u6e90\u3002\u800c\u4e14\uff0c\u8fd9\u662f\u6211\u6240\u77e5\u9053\u7684\u7b2c\u4e00\u6b21 \u2014 \u2014 \u4e00\u4e2a\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u5e73\u53f0\uff0c\u6210\u4e3a\u67d0\u4e2a\u65b0\u8d44\u4ea7\u7684\u4e3b\u5bfc\u73b0\u8d27\u4ef7\u683c\u53d1\u73b0\u4e2d\u5fc3\u3002<\/p>\n<p>\u5176\u4e2d\u4e00\u4e2a\u4f8b\u5b50\u662f XPL\u3002\u5f53\u65f6\u5728\u94fe\u4e0a\u73b0\u8d27\u5e02\u573a\u4e2d\uff0cHyperliquid \u7684\u4ea4\u6613\u6df1\u5ea6\u548c\u6210\u4ea4\u91cf\u5728\u5173\u952e\u9636\u6bb5\u5904\u4e8e\u9886\u5148\u4f4d\u7f6e\u3002<\/p>\n<p>\u4ece\u67d0\u79cd\u610f\u4e49\u4e0a\u8bf4\uff0c\u73b0\u8d27\u4ea4\u6613\u662f\u6700\u63a5\u8fd1\u4e2d\u672c\u806a\u6700\u521d\u300c\u70b9\u5bf9\u70b9\u7535\u5b50\u73b0\u91d1\u300d\u613f\u666f\u7684\u5f62\u5f0f\u3002\u56e0\u4e3a\u5f53\u4f60\u5728\u505a\u73b0\u8d27\u4ea4\u6613\u65f6\uff0c\u672c\u8d28\u4e0a\u662f\u5728\u94fe\u4e0a\u8d26\u672c\u4e0a\u8fdb\u884c\u8d44\u4ea7\u8f6c\u79fb\uff1a<\/p>\n<p>\u4e00\u65b9\u628a\u8ba1\u4ef7\u8d44\u4ea7\uff08quote asset\uff09\u8f6c\u7ed9\u53e6\u4e00\u65b9\uff1b\u53e6\u4e00\u65b9\u628a\u57fa\u7840\u8d44\u4ea7\uff08base asset\uff09\u8f6c\u56de\u7ed9\u7b2c\u4e00\u65b9\u3002\u8ba2\u5355\u7c3f\u3001\u672c\u5730\u64ae\u5408\u673a\u5236\u7b49\uff0c\u53ea\u662f\u5e2e\u52a9\u5b8c\u6210\u8fd9\u4e9b\u94fe\u4e0a\u8d44\u4ea7\u8f6c\u79fb\u7684\u534f\u8c03\u5de5\u5177\u3002<\/p>\n<p>\u5982\u679c\u4f60\u95ee\u4e2d\u672c\u806a\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%af%94%e7%89%b9%e5%b8%81\" title=\"View all posts in \u6bd4\u7279\u5e01\" target=\"_blank\" class=\"tag_link\">\u6bd4\u7279\u5e01<\/a>\u5e94\u8be5\u5982\u4f55\u4ea4\u6613\uff1f\u6211\u975e\u5e38\u6709\u4fe1\u5fc3\uff0c\u4ed6\u4f1a\u8bf4\u5e94\u8be5\u4ee5\u5b8c\u5168\u94fe\u4e0a\u7684\u65b9\u5f0f\u8fdb\u884c\u3002\u5f53\u7136\uff0c\u6bd4\u7279\u5e01\u7f51\u7edc\u672c\u8eab\u672a\u5fc5\u9002\u5408\u627f\u8f7d\u590d\u6742\u64ae\u5408\u903b\u8f91\uff0c\u4f46\u4ea4\u6613\u672c\u8eab\u5e94\u8be5\u662f\u70b9\u5bf9\u70b9\u7684\u3002<\/p>\n<p>\u5728 Hyperliquid \u4e0a\uff0c\u6211\u4eec\u505a\u4e86\u5f88\u591a\u4e8b\u60c5\uff0c\u4f46\u8fd9\u79cd\u300c\u539f\u751f\u94fe\u4e0a\u6267\u884c\u300d\u7684\u7406\u5ff5\uff0c\u5176\u5b9e\u662f\u975e\u5e38\u6838\u5fc3\u7684 DNA\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a\uff0c\u73b0\u8d27\u4ea4\u6613\u662f\u4e00\u4e2a\u7279\u522b\u597d\u7684\u9a8c\u8bc1\u573a\u666f\u3002\u5f53\u6240\u6709\u62fc\u56fe\u90fd\u5230\u4f4d\u65f6 \u2014 \u2014 \u6027\u80fd\u3001\u8ba2\u5355\u7c3f\u3001\u7528\u6237\u4f53\u9a8c\u3001\u6d41\u52a8\u6027 \u2014 \u2014 \u7528\u6237\u5176\u5b9e\u66f4\u613f\u610f\u4ee5\u4e00\u79cd\u4e0e\u52a0\u5bc6\u8d44\u4ea7\u672c\u8eab\u6280\u672f\u903b\u8f91\u4e00\u81f4\u7684\u65b9\u5f0f\u8fdb\u884c\u4ea4\u6613\u3002<\/p>\n<p>\u5927\u591a\u6570\u4eba\u4ea4\u6613\u73b0\u8d27\u52a0\u5bc6\u8d44\u4ea7\uff0c\u662f\u56e0\u4e3a\u4ed6\u4eec\u76f8\u4fe1\u52a0\u5bc6\u548c DeFi \u7684\u613f\u666f\u3002\u800c\u5728\u591a\u5e74\u4e4b\u540e\uff0c\u7ec8\u4e8e\u53ef\u4ee5\u5728\u4e0d\u727a\u7272\u7528\u6237\u4f53\u9a8c\u7684\u524d\u63d0\u4e0b\uff0c\u7528\u5b8c\u5168\u94fe\u4e0a\u7684\u65b9\u5f0f\u53bb\u4ea4\u6613\u81ea\u5df1\u6301\u6709\u7684\u8d44\u4ea7\uff0c\u8fd9\u79cd\u611f\u89c9\u6709\u70b9\u50cf\u5b8c\u6210\u4e86\u4e00\u4e2a\u95ed\u73af\u3002<\/p>\n<p>\u4ece\u6280\u672f\u7406\u60f3\u5230\u5b9e\u9645\u843d\u5730\uff0c\u518d\u56de\u5230\u6700\u521d\u7684\u70b9\u5bf9\u70b9\u7406\u5ff5 \u2014 \u2014 \u8fd9\u662f\u4e00\u79cd\u300c\u8d70\u4e86\u4e00\u5708\u53c8\u56de\u5230\u8d77\u70b9\u300d\u7684\u611f\u89c9\u3002\u6211\u8ba4\u4e3a\u8fd9\u975e\u5e38\u9177\u3002<\/p>\n<h2>\u5173\u4e8e\u65e9\u671f\u521b\u4e1a\u3001\u975e\u7ebf\u6027\u91d1\u878d\u539f\u8bed\u4e0e\u94fe\u4e0a\u91d1\u878d\u4f53\u7cfb<\/h2>\n<h4>Jeff \u65e9\u5e74\u7684\u9884\u6d4b\u5e02\u573a\u9879\u76ee\u5931\u8d25\u7ecf\u9a8c<\/h4>\n<p>Kevin\uff1a\u4f60\u4e4b\u524d\u5728 X \u4e0a\u53d1\u8fc7\u4e00\u4e9b\u89c6\u9891\uff0c\u8bf4 2018 \u5e74\u300c\u5e74\u8f7b\u7684 Jeff\u300d\u66fe\u7ecf\u505a\u8fc7\u9884\u6d4b\u5e02\u573a\u9879\u76ee\uff0c\u65f6\u95f4\u70b9\u548c Kalshi \u5dee\u4e0d\u591a\u3002\u4e3a\u4ec0\u4e48\u5f53\u65f6\u6ca1\u6709\u6210\u529f\uff1f<\/p>\n<p>Jeff\uff1a\u539f\u56e0\u6709\u5f88\u591a\u3002\u6700\u7b80\u5355\u4e5f\u6700\u8bda\u5b9e\u7684\u7b54\u6848\u662f \u2014 \u2014 \u5f53\u65f6\u7684\u6211\u4eec\u8fd8\u6ca1\u51c6\u5907\u597d\u3002<\/p>\n<p>\u90a3\u4e2a\u60f3\u6cd5\u672c\u8eab\u5176\u5b9e\u5f88\u9177\u3002\u4ece\u57fa\u7840\u8bbe\u65bd\u89d2\u5ea6\u6765\u770b\uff0c\u6211\u4eec\u5f53\u65f6\u6709\u4e0d\u5c11\u65b9\u5411\u662f\u5bf9\u7684\uff0c\u6bd4\u5982\u91c7\u7528\u94fe\u4e0b\u64ae\u5408\u3001\u94fe\u4e0a\u7ed3\u7b97\u3002\u5728\u5f53\u65f6\u7684\u6280\u672f\u6761\u4ef6\u4e0b\uff0c\u90a3\u662f\u6bd4\u8f83\u5408\u7406\u7684\u67b6\u6784\u9009\u62e9\u3002<\/p>\n<p>\u4f46\u771f\u6b63\u628a\u4e00\u4e2a\u4ea7\u54c1\u505a\u6210\u529f\uff0c\u8fdc\u8fdc\u4e0d\u53ea\u662f\u300c\u6709\u5bf9\u7684\u60f3\u6cd5\u300d\u8fd9\u4e48\u7b80\u5355\u3002\u4e8b\u5b9e\u4e0a\uff0c\u60f3\u6cd5\u5728\u6574\u4e2a\u8fc7\u7a0b\u4e2d\u6240\u5360\u7684\u6bd4\u4f8b\u975e\u5e38\u5c0f\u3002\u6267\u884c\u529b\u3001\u4ea7\u54c1\u6253\u78e8\u3001\u5e02\u573a\u65f6\u673a\u3001\u7528\u6237\u6559\u80b2\u3001\u6d41\u52a8\u6027\u542f\u52a8\u3001\u5fc3\u7406\u97e7\u6027\u2026\u2026\u8fd9\u4e9b\u90fd\u540c\u6837\u91cd\u8981\u3002<\/p>\n<p>\u5f53\u65f6\u5bf9\u6211\u6765\u8bf4\uff0c\u5e76\u4e0d\u660e\u663e\u6709\u4eba\u771f\u7684\u60f3\u4f7f\u7528\u94fe\u4e0a\u4ea7\u54c1\u3002\u9879\u76ee\u521a\u5f00\u59cb\u65f6\uff0c\u5e02\u573a\u6574\u4f53\u60c5\u7eea\u9ad8\u6da8\uff0c\u4ef7\u683c\u5728\u4e0a\u6da8\uff0c\u5927\u5bb6\u90fd\u5f88\u5174\u594b\u3002\u4f46\u5230\u4e86 2018 \u5e74\u4e0b\u534a\u5e74\uff0c\u884c\u60c5\u6025\u8f6c\u76f4\u4e0b\uff0c\u4ef7\u683c\u5927\u5e45\u56de\u843d\u3002<\/p>\n<p>\u52a0\u5bc6\u884c\u4e1a\u6211\u4eec\u540e\u6765\u4e5f\u53cd\u590d\u89c1\u8bc1\u4e86\u8fd9\u79cd\u5468\u671f \u2014 \u2014 \u725b\u5e02\u65f6\u7528\u6237\u8702\u62e5\u800c\u81f3\uff0c\u718a\u5e02\u65f6\u51e0\u4e4e\u65e0\u4eba\u95ee\u6d25\u3002<\/p>\n<p>\u4f46\u5982\u679c\u90a3\u662f\u4f60\u7b2c\u4e00\u6b21\u7ecf\u5386\u8fd9\u79cd\u5468\u671f\uff0c\u5f53\u4f60\u53bb\u548c\u7528\u6237\u6c9f\u901a\uff0c\u5374\u53d1\u73b0\u51e0\u4e4e\u6ca1\u6709\u4eba\u613f\u610f\u5c1d\u8bd5\u4f60\u7684\u4ea7\u54c1\uff0c\u90a3\u79cd\u6253\u51fb\u662f\u975e\u5e38\u6c89\u91cd\u7684\u3002\u5c24\u5176\u662f\u5f53\u4f60\u503e\u6ce8\u4e86\u5927\u91cf\u65f6\u95f4\u548c\u7cbe\u529b\u7684\u65f6\u5019\u3002<\/p>\n<p>\u4e0d\u8fc7\u5373\u4fbf\u5982\u6b64\uff0c\u90a3\u6bb5\u7ecf\u5386\u5e26\u6765\u4e86\u5f88\u591a\u5b66\u4e60\u3002\u6211\u4eec\u771f\u6b63\u7406\u89e3\u4e86\uff1a\u6784\u5efa\u4e00\u4e2a\u6210\u529f\u7684\u91d1\u878d\u4ea7\u54c1\uff0c\u9700\u8981\u4ec0\u4e48\u6837\u7684\u957f\u671f\u6295\u5165\u548c\u5fc3\u6001\u3002<\/p>\n<p>\u67d0\u79cd\u610f\u4e49\u4e0a\uff0c\u8fd9\u4e2a\u60f3\u6cd5\u5e76\u6ca1\u6709\u6d88\u5931\u3002\u540e\u6765\u4e5f\u6709\u4e00\u4e9b\u548c\u6211\u4eec\u5dee\u4e0d\u591a\u65f6\u95f4\u8d77\u6b65\u7684\u56e2\u961f\uff0c\u575a\u6301\u4e86\u4e0b\u6765\uff0c\u6bd4\u5982 Kalshi\u3002\u4ed6\u4eec\u663e\u7136\u5177\u5907\u628a\u4e8b\u60c5\u505a\u6210\u6240\u9700\u8981\u7684\u6761\u4ef6\u548c\u97e7\u6027\uff0c\u5982\u4eca\u4e5f\u5f00\u59cb\u770b\u5230\u591a\u5e74\u52aa\u529b\u5e26\u6765\u7684\u6210\u679c\uff0c\u4ee5\u53ca\u66f4\u5e7f\u6cdb\u7684\u4e3b\u6d41\u91c7\u7528\u3002<\/p>\n<p>\u770b\u5230\u8fd9\u4e9b\u516c\u53f8\u9010\u6e10\u6536\u83b7\u6210\u679c\uff0c\u6211\u771f\u5fc3\u4e3a\u4ed6\u4eec\u611f\u5230\u9ad8\u5174\u3002\u8fd9\u672c\u8eab\u4e5f\u8bf4\u660e\uff0c\u5f88\u591a\u60f3\u6cd5\u672a\u5fc5\u662f\u9519\u7684\uff0c\u53ea\u662f\u4f60\u662f\u5426\u51c6\u5907\u597d\u4e86\uff0c\u5728\u6b63\u786e\u7684\u65f6\u95f4\u3001\u7528\u6b63\u786e\u7684\u65b9\u5f0f\uff0c\u628a\u5b83\u575a\u6301\u5230\u5e95\u3002<\/p>\n<h3>Outcome Markets\uff1a\u975e\u7ebf\u6027\u8868\u8fbe\u5de5\u5177<\/h3>\n<p>Kevin\uff1a\u516b\u5e74\u4e4b\u540e\uff0c\u4f60\u53c8\u56de\u5230\u4e86\u9884\u6d4b\u5e02\u573a\u3002\u4e0d\u8fc7\u8fd9\u6b21\u66f4\u51c6\u786e\u7684\u8bf4\u6cd5\u662f Outcome Markets\u3002\u4e24\u8005\u6709\u4ec0\u4e48\u4e0d\u540c\uff1f<\/p>\n<p>Jeff\uff1a\u8fd9\u8981\u56de\u5230\u6211\u4eec\u4e4b\u524d\u8bb2\u7684\u300c\u539f\u8bed\uff08primitives\uff09\u300d\u8bbe\u8ba1\u7406\u5ff5\u3002\u5728 Hyperliquid \u4e0a\uff0c\u6211\u4eec\u5e0c\u671b\u534f\u8bae\u5c42\u7684\u539f\u8bed\u5c3d\u53ef\u80fd\u5c0f\u800c\u81ea\u6d3d \u2014 \u2014 \u7ed3\u6784\u7b80\u5355\u3001\u6027\u80fd\u6e05\u6670\uff0c\u4f46\u7528\u9014\u5c3d\u53ef\u80fd\u5e7f\u6cdb\u3002<\/p>\n<p>Outcome Markets \u7684\u51fa\u53d1\u70b9\u662f\uff1a\u5b83\u4f1a\u6210\u4e3a\u4eba\u4eec\u5728\u94fe\u4e0a\u8868\u8fbe\u300c\u975e\u7ebf\u6027\u89c2\u70b9\u300d\u7684\u6838\u5fc3\u5de5\u5177\u3002<\/p>\n<p>\u6211\u4eec\u5148\u5bf9\u6bd4\u4e00\u4e0b\uff1a\u73b0\u8d27\uff08Spot\uff09\u662f\u6700\u57fa\u7840\u7684\u8d44\u4ea7\u5f62\u5f0f\u3002\u4f60\u6301\u6709\u8d44\u4ea7\uff0c\u4ea4\u6613\u65f6\u5728\u94fe\u4e0a\u8d26\u672c\u5b8c\u6210\u8f6c\u79fb\u3002\u8fd9\u662f\u4efb\u4f55\u91d1\u878d\u7cfb\u7edf\u90fd\u5e94\u8be5\u5177\u5907\u7684\u57fa\u7840\u539f\u8bed\uff0c\u6ca1\u6709\u4e89\u8bae\uff1b\u6c38\u7eed\u5408\u7ea6\uff08Perps\uff09\u76f8\u5bf9\u66f4\u5177\u4e89\u8bae\uff0c\u4f46\u8d8a\u6765\u8d8a\u591a\u4eba\u8ba4\u8bc6\u5230\uff0c\u5b83\u5728\u4ef7\u683c\u53d1\u73b0\u548c\u8d44\u672c\u6548\u7387\u4e0a\u7684\u4ef7\u503c\u8db3\u591f\u91cd\u8981\uff0c\u56e0\u6b64\u503c\u5f97\u6210\u4e3a\u901a\u7528\u91d1\u878d\u5de5\u5177\u7684\u4e00\u90e8\u5206\u3002HIP-3 \u53ef\u4ee5\u8bf4\u662f\u8fd9\u4e2a\u7406\u5ff5\u7684\u4e00\u6b21\u9636\u6bb5\u6027\u5b9e\u73b0\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u5c3d\u7ba1\u73b0\u8d27\u548c\u6c38\u7eed\u5728\u673a\u5236\u4e0a\u5dee\u5f02\u5f88\u5927 \u2014 \u2014 \u6c38\u7eed\u53ef\u4ee5\u52a0\u6760\u6746\u3001\u66f4\u9ad8\u8d44\u672c\u6548\u7387\uff1b\u73b0\u8d27\u4ee3\u8868\u771f\u5b9e\u8d44\u4ea7\u7684\u4ee3\u5e01\u5316\u3002<\/p>\n<p>\u5b83\u4eec\u5728\u4e00\u4e2a\u5173\u952e\u70b9\u4e0a\u662f\u76f8\u4f3c\u7684\uff1a\u90fd\u53ea\u80fd\u8868\u8fbe\u300c\u7ebf\u6027\u89c2\u70b9\u300d\u3002\u65e0\u8bba\u4f60\u7528 1 \u500d\u6760\u6746\u8fd8\u662f 100 \u500d\u6760\u6746\uff0c\u672c\u8d28\u4e0a\u90fd\u662f\u4ef7\u683c\u6bcf\u53d8\u52a8\u4e00\u4e2a\u5355\u4f4d\uff0c\u4f60\u7684\u76c8\u4e8f\u6309\u6bd4\u4f8b\u7ebf\u6027\u53d8\u5316\u3002\u5bf9\u4e8e\u5f88\u591a\u7528\u6237\u6765\u8bf4\uff0c\u8fd9\u5df2\u7ecf\u8db3\u591f\u3002\u4f46\u6709\u4e9b\u7528\u6237\u5176\u5b9e\u771f\u6b63\u60f3\u8981\u7684\u662f\u300c\u975e\u7ebf\u6027\u7ed3\u679c\u300d\u3002<\/p>\n<p>\u4e3e\u51e0\u4e2a\u4f8b\u5b50\uff1a\u4f60\u5e0c\u671b\u4e00\u4e2a\u5408\u7ea6\u7ed3\u679c\u53ea\u6709 1 \u7f8e\u5143\u6216 0 \u7f8e\u5143\uff0c\u53d6\u51b3\u4e8e\u67d0\u4e2a\u4e8b\u4ef6\u662f\u5426\u53d1\u751f\uff08\u5178\u578b\u4e8c\u5143\u7ed3\u6784\uff09\uff1b\u4f60\u6301\u6709\u6bd4\u7279\u5e01\uff0c\u6574\u4f53\u957f\u671f\u770b\u591a\uff0c\u4f46\u5982\u679c\u4ef7\u683c\u8dcc\u7834\u67d0\u4e2a\u6c34\u5e73\uff0c\u5e0c\u671b\u83b7\u5f97\u4e0b\u884c\u4fdd\u62a4\uff1b\u4f60\u60f3\u8981\u4e00\u4e2a\u6536\u76ca\u88ab\u9650\u5b9a\u5728\u67d0\u4e2a\u533a\u95f4\u5185\u7684\u7ed3\u6784\u3002\u8fd9\u4e9b\u90fd\u5c5e\u4e8e\u975e\u7ebf\u6027\u89c2\u70b9\u3002\u5355\u9760\u73b0\u8d27\u548c\u6c38\u7eed\u7684\u7ec4\u5408\uff0c\u662f\u65e0\u6cd5\u7cbe\u786e\u8868\u8fbe\u7684\u3002\u8fd9\u5c31\u662f Outcome Markets \u7684\u610f\u4e49\u6240\u5728\u3002<\/p>\n<p>Outcome Markets \u672c\u8d28\u4e0a\u662f\u300c\u5168\u989d\u62b5\u62bc\u7684\u5408\u7ea6\u300d\u3002\u53cc\u65b9\u90fd\u63d0\u524d\u653e\u5165\u62b5\u62bc\u8d44\u4ea7\uff0c\u6700\u7ec8\u6839\u636e\u7ed3\u679c\u5728\u4e24\u8005\u4e4b\u95f4\u91cd\u65b0\u5206\u914d\u3002\u7ed3\u7b97\u7ed3\u679c\u53ef\u4ee5\u662f\uff1a\u4e8c\u5143\u7684\uff08binary\uff09\u548c\u8fde\u7eed\u533a\u95f4\u7684\uff08continuous\uff09\uff0c\u5173\u952e\u5728\u4e8e\u5b83\u6ca1\u6709\u6e05\u7b97\u98ce\u9669\u3002\u7528\u6237\u653e\u5165\u8d44\u672c\uff0c\u7b49\u5f85\u7ed3\u679c\u7ed3\u7b97\uff0c\u4e2d\u95f4\u4e0d\u5b58\u5728\u5f3a\u5e73\u3001\u4fdd\u8bc1\u91d1\u7ef4\u6301\u7387\u3001\u8d44\u91d1\u8d39\u7387\u7b49\u590d\u6742\u673a\u5236\u3002<\/p>\n<p>Kevin\uff1a\u6bd4\u5982\u671f\u6743\u3001\u9884\u6d4b\u5e02\u573a\uff0c\u662f\u7c7b\u4f3c\u7684\u4f8b\u5b50\uff1f<\/p>\n<p>Jeff\uff1a\u5bf9\uff0c\u671f\u6743\u548c\u9884\u6d4b\u5e02\u573a\u662f\u6700\u76f4\u89c2\u7684\u4f8b\u5b50\u3002\u5b83\u4eec\u90fd\u662f\u975e\u7ebf\u6027\u6536\u76ca\u7ed3\u6784\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u8fd8\u6709\u4e00\u4e9b\u66f4\u6709\u610f\u601d\u7684\u5e94\u7528\u65b9\u5411\u3002\u4f8b\u5982\uff1a\u5e02\u573a\u662f\u5426\u53ef\u4ee5\u805a\u5408\u610f\u89c1\uff0c\u800c\u4e0d\u662f\u4ec5\u4ec5\u4ea4\u6613\u4ef7\u683c\uff1f\u662f\u5426\u53ef\u4ee5\u7528\u5e02\u573a\u673a\u5236\u628a\u91cd\u8981\u8bae\u9898\u300c\u5192\u6ce1\u300d\u51fa\u6765\uff1f\u662f\u5426\u53ef\u4ee5\u56f4\u7ed5\u67d0\u79cd\u4e3b\u89c2\u7ed3\u679c\u5f62\u6210\u8d44\u91d1\u9a71\u52a8\u7684\u5171\u8bc6\uff1f\u8fd9\u4e9b\u90fd\u53ef\u4ee5\u81ea\u7136\u5730\u5f52\u7c7b\u5230 Outcome Markets \u7684\u6846\u67b6\u4e2d\u3002<\/p>\n<p>\u6c38\u7eed\u5408\u7ea6\u4ecd\u7136\u4f1a\u662f\u91cd\u8981\u7684\u4ef7\u683c\u53d1\u73b0\u5de5\u5177\uff0c\u4f46\u5b83\u5c5e\u4e8e\u76f8\u5bf9\u590d\u6742\u7684\u91d1\u878d\u539f\u8bed\uff1b\u800c Outcome Markets \u63d0\u4f9b\u7684\u662f\u4e00\u79cd\u66f4\u57fa\u7840\u3001\u66f4\u901a\u7528\u7684\u975e\u7ebf\u6027\u8868\u8fbe\u80fd\u529b\u3002<\/p>\n<p>\u7b80\u5355\u6765\u8bf4\uff1a\u73b0\u8d27\u89e3\u51b3\u300c\u62e5\u6709\u8d44\u4ea7\u300d\uff0c\u6c38\u7eed\u89e3\u51b3\u300c\u7ebf\u6027\u89c2\u70b9 + \u6760\u6746\u8868\u8fbe\u300d\uff0cOutcome Markets \u89e3\u51b3\u300c\u975e\u7ebf\u6027\u89c2\u70b9\u8868\u8fbe\u300d\u3002\u4e09\u8005\u5408\u5728\u4e00\u8d77\uff0c\u6784\u6210\u4e86\u4e00\u4e2a\u66f4\u5b8c\u6574\u7684\u94fe\u4e0a\u91d1\u878d\u8868\u8fbe\u4f53\u7cfb\u3002<\/p>\n<h4>\u300cHousing All of Finance\u300d\u7684\u771f\u6b63\u542b\u4e49<\/h4>\n<p>Kevin\uff1a\u4f60\u7ecf\u5e38\u63d0\u5230 \u300chousing all of finance\u300d\u3002\u8fd9\u5230\u5e95\u662f\u4ec0\u4e48\u610f\u601d\uff1f<\/p>\n<p>Jeff\uff1a\u5b83\u7684\u6838\u5fc3\u610f\u601d\u662f\uff0c\u91d1\u878d\u4f53\u7cfb\u4e0d\u5e94\u8be5\u662f\u788e\u7247\u5316\u7684\u3002\u8fd9\u5c31\u662f \u300call\u300d \u7684\u542b\u4e49\u3002\u4f60\u4e0d\u5e94\u8be5\u9700\u8981\u5148\u63a5\u5165\u4e00\u4e2a\u94f6\u884c\u8d26\u6237\uff0c\u7136\u540e\u5982\u679c\u60f3\u4e70\u67d0\u4e2a\u4e1c\u897f\uff0c\u8fd8\u8981\u628a\u8d44\u91d1\u8f6c\u5230\u53e6\u4e00\u4e2a\u8d26\u6237\uff1b\u6216\u8005\u4e3a\u4e86\u53c2\u4e0e\u67d0\u4e2a\u4ea7\u54c1\uff0c\u53c8\u5f97\u5f00\u8bbe\u65b0\u7684\u8d26\u6237\u3002\u7406\u60f3\u72b6\u6001\u4e0b\uff0c\u7528\u6237\u7684\u6574\u4e2a\u91d1\u878d\u751f\u6d3b\u5e94\u8be5\u53ef\u4ee5\u5728\u4e00\u4e2a\u5730\u65b9\u5b8c\u6210\u3002\u6211\u8ba4\u4e3a\u300c\u53ef\u7ec4\u5408\u6027\u300d\uff08composability\uff09\uff0c\u4e5f\u5c31\u662f\u628a\u7528\u6237\u7684\u91d1\u878d\u6d3b\u52a8\u6574\u5408\u5728\u4e00\u4e2a\u7edf\u4e00\u4f53\u7cfb\u4e2d\uff0c\u662f\u4e00\u4e2a\u5de8\u5927\u7684\u7a81\u7834\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u8fd9\u4e00\u70b9\u5e76\u4e0d\u662f\u52a0\u5bc6\u884c\u4e1a\u72ec\u6709\u7684\u3002\u52a0\u5bc6\u884c\u4e1a\u6240\u8bf4\u7684 \u300chousing all of finance\u300d\uff0c\u66f4\u91cd\u8981\u7684\u662f\uff1a\u8fd9\u4e2a\u5e73\u53f0\u672c\u8eab\u4e0d\u5e94\u8be5\u7531\u67d0\u4e2a\u4e2d\u5fc3\u5316\u516c\u53f8\u6240\u63a7\u5236\u3002\u5b83\u5e94\u8be5\u5141\u8bb8\u5f88\u591a\u4e0d\u540c\u7684\u56e2\u961f\u53c2\u4e0e Build\u3002\u5f53\u6709\u4eba\u6784\u5efa\u4e00\u4e2a\u65b0\u7684\u5e94\u7528\u6216\u534f\u8bae\u65f6\uff0c\u5b83\u80fd\u591f\u81ea\u52a8\u63a5\u5165\u5e76\u4e0e\u5176\u4ed6\u56e2\u961f\u6784\u5efa\u7684\u7cfb\u7edf\u8fdb\u884c\u7ec4\u5408\u548c\u4ea4\u4e92\u3002\u8fd9\u79cd\u7f51\u7edc\u6548\u5e94\uff0c\u624d\u771f\u6b63\u6784\u6210\u4e00\u4e2a\u91d1\u878d\u7cfb\u7edf\u3002<\/p>\n<p>\u5728\u8fd9\u4e2a\u8fc7\u7a0b\u4e2d\uff0c\u59cb\u7ec8\u5b58\u5728\u4e00\u4e2a\u6743\u8861\uff1a\u4e00\u7aef\u662f\u788e\u7247\u5316\u4f46\u9ad8\u5ea6\u53ef\u7ec4\u5408\u7684\u4f53\u7cfb\uff0c\u53e6\u4e00\u7aef\u662f\u6548\u7387\u53ef\u80fd\u66f4\u9ad8\u4f46\u7531\u4e2d\u5fc3\u5316\u673a\u6784\u8fd0\u8425\u3001\u529f\u80fd\u76f8\u5bf9\u53d7\u9650\u7684\u7cfb\u7edf\u3002\u8fd9\u4e24\u8005\u4e4b\u95f4\u4e00\u76f4\u5b58\u5728\u5f20\u529b\u3002<\/p>\n<p>\u4f46\u5982\u679c\u8bbe\u8ba1\u5f97\u5f53\uff0c\u662f\u6709\u53ef\u80fd\u5728\u4e24\u7aef\u4e4b\u95f4\u53d6\u5f97\u5e73\u8861\u7684 \u2014 \u2014 \u65e2\u4fdd\u6301\u53ef\u7ec4\u5408\u6027\uff0c\u53c8\u517c\u987e\u6548\u7387\u3002\u8fd9\u79cd\u7406\u5ff5\uff0c\u5176\u5b9e\u4e5f\u9a71\u52a8\u7740\u6211\u4eec\u5728\u4ea7\u54c1\u548c\u7cfb\u7edf\u8bbe\u8ba1\u4e0a\u7684\u5f88\u591a\u601d\u8003\u3002<\/p>\n<h4>Hyperliquid \u4e0d\u662f Crypto \u516c\u53f8\uff0c\u800c\u662f\u4e00\u4e2a\u91d1\u878d\u534f\u8bae<\/h4>\n<p>Kevin\uff1a\u4f60\u4e4b\u524d\u8ddf\u6211\u8bf4\u8fc7\uff0cHyperliquid \u4e0d\u662f\u4e00\u5bb6 Crypto \u516c\u53f8\uff0c\u800c\u662f\u4e00\u5bb6\u7528\u52a0\u5bc6\u6280\u672f\u4f5c\u4e3a\u5e95\u5c42\u57fa\u7840\u8bbe\u65bd\u7684\u91d1\u878d\u516c\u53f8\u3002\u5f53\u7136\uff0c\u300c\u516c\u53f8\u300d\u8fd9\u4e2a\u8bcd\u53ef\u80fd\u4e5f\u4e0d\u5b8c\u5168\u51c6\u786e\u3002\u4f60\u80fd\u89e3\u91ca\u4e00\u4e0b\u5417\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u8ba4\u4e3a\u8fd9\u662f\u4e00\u4e2a\u533a\u5206\u7684\u95ee\u9898\u3002\u6211\u4eec\u662f\u771f\u6b63\u76f8\u4fe1 DeFi \u4ef7\u503c\u89c2\u7684\u3002\u4ece\u8fd9\u4e2a\u89d2\u5ea6\u6765\u8bf4\uff0c\u52a0\u5bc6\u548c DeFi \u7684\u7406\u5ff5\u662f\u523b\u5728\u6211\u4eec DNA \u91cc\u7684\u3002<\/p>\n<p>\u4f46\u6211\u4eec\u5e76\u4e0d\u628a\u81ea\u5df1\u5b9a\u4e49\u4e3a\u300c\u6253\u9020\u6700\u597d\u7684\u52a0\u5bc6\u4ea4\u6613\u6240\u300d\u7684\u56e2\u961f\u3002\u90a3\u5e76\u4e0d\u662f\u6211\u4eec\u7684\u613f\u666f\u3002<\/p>\n<p>\u5728\u6211\u770b\u6765\uff0c\u91d1\u878d\u672c\u8d28\u4e0a\u5c31\u662f\u91d1\u878d\u3002Crypto \u7684\u610f\u4e49\u5728\u4e8e\uff0c\u5b83\u6709\u6f5c\u529b\u5347\u7ea7\u4eba\u4eec\u8fdb\u884c\u91d1\u878d\u6d3b\u52a8\u7684\u5e95\u5c42\u300c\u8f68\u9053\u300d\uff08rails\uff09\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u7528\u533a\u5757\u94fe\u6280\u672f\u91cd\u6784\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\uff0c\u8ba9\u4eba\u4eec\u53ef\u4ee5\u5728\u66f4\u5f00\u653e\u3001\u66f4\u9ad8\u6548\u3001\u66f4\u900f\u660e\u7684\u7cfb\u7edf\u4e2d\u5b8c\u6210\u91d1\u878d\u884c\u4e3a\u3002\u8fd9\u624d\u662f\u6211\u4eec\u5728\u6784\u5efa\u7684\u65b9\u5411\u3002<\/p>\n<p>\u5982\u679c Hyperliquid \u8fd9\u4e2a\u751f\u6001\u7cfb\u7edf\u6700\u7ec8\u6210\u529f\u4e86\uff0c\u6709\u4e9b\u4eba\u53ef\u80fd\u4f1a\u8bf4\uff1a\u300c\u8fd9\u8bc1\u660e\u4e86 Crypto \u662f\u6b63\u786e\u7684\uff0cCrypto \u88ab\u9a8c\u8bc1\u4e86\u3002\u300d\u6211\u89c9\u5f97\u8fd9\u662f\u4e00\u79cd\u5408\u7406\u7684\u89e3\u8bfb\u3002<\/p>\n<p>\u4f46\u4e5f\u53ef\u80fd\u4f1a\u6709\u4eba\u8bf4\uff1a\u300c\u8fd9\u662f\u4e00\u4e2a\u5168\u65b0\u7684\u4e8b\u7269\uff0c\u5b83\u501f\u9274\u4e86\u52a0\u5bc6\u9886\u57df\u7684\u4e00\u4e9b\u7406\u5ff5\uff0c\u4f46\u6700\u7ec8\u5df2\u7ecf\u53d1\u5c55\u6210\u4e00\u4e2a\u72ec\u7acb\u7684\u4f53\u7cfb\u3002\u300d\u6211\u8ba4\u4e3a\u8fd9\u79cd\u89e3\u8bfb\u540c\u6837\u6ca1\u6709\u95ee\u9898\u3002<\/p>\n<p>\u5173\u952e\u4e0d\u5728\u4e8e\u6807\u7b7e \u2014 \u2014 \u5b83\u662f\u4e0d\u662f\u4e00\u5bb6\u300c\u52a0\u5bc6\u516c\u53f8\u300d \u2014 \u2014 \u800c\u5728\u4e8e\u5b83\u662f\u5426\u771f\u6b63\u63a8\u52a8\u4e86\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u7684\u5347\u7ea7\u3002<\/p>\n<h4>USDH \u8054\u76df\u7a33\u5b9a\u5e01\u673a\u5236<\/h4>\n<p>Kevin\uff1aHyperliquid \u76ee\u524d\u6838\u5fc3\u56e2\u961f\u53ea\u6709 11 \u4e2a\u4eba\uff0c\u4f46\u540c\u65f6\u4e5f\u62e5\u6709\u4e00\u4e2a\u7531\u4e1a\u5185\u6700\u806a\u660e\u7684\u5f00\u53d1\u8005\u548c Builder \u7ec4\u6210\u7684\u751f\u6001\u7cfb\u7edf\u3002\u6211\u4eec\u6765\u804a\u804a\u5176\u4e2d\u4e00\u4e2a\u9879\u76ee\u3002\u6211\u6ce8\u610f\u5230\u4f60\u4eec\u6709\u4e00\u4e2a\u7a33\u5b9a\u5e01\u53eb USDH\uff0c\u4e3a\u4ec0\u4e48\u8981\u505a\u8fd9\u4e2a\uff1f<\/p>\n<p>Jeff\uff1a\u5927\u6982\u5728\u534a\u5e74\u524d\u5230\u4e00\u5e74\u524d\uff0c\u6574\u4e2a\u884c\u4e1a\u5728\u591a\u4e2a\u533a\u5757\u94fe\u4e0a\u90fd\u6380\u8d77\u4e86\u4e00\u6ce2\u5173\u4e8e\u7a33\u5b9a\u5e01\u7684\u70ed\u6f6e\u3002\u5f53\u65f6\u300cGenius Act\u300d\u901a\u8fc7\uff0c\u5e02\u573a\u666e\u904d\u8ba4\u4e3a\u7a33\u5b9a\u5e01\u4f1a\u6210\u4e3a\u673a\u6784\u8d44\u91d1\u9996\u6b21\u8fdb\u5165 DeFi \u8f68\u9053\uff08rails\uff09\u7684\u5165\u53e3\uff0c\u56e0\u6b64\u5927\u5bb6\u5bf9\u7a33\u5b9a\u5e01\u7684\u5174\u8da3\u975e\u5e38\u9ad8\u3002<\/p>\n<p>\u5728 Hyperliquid \u751f\u6001\u4e2d\uff0c\u6211\u4eec\u63d0\u51fa\u4e86\u4e00\u4e2a\u534f\u8bae\u7ea7\u7684\u6982\u5ff5\uff0c\u53eb\u505a\u300c\u8054\u76df\u7a33\u5b9a\u5e01\u300d\uff08Alliance Stablecoin\uff09\u3002\u8fd9\u4e2a\u673a\u5236\u5e76\u4e0d\u662f\u4e00\u5f00\u59cb\u5c31\u786e\u5b9a\u7684\uff0c\u800c\u662f\u5728\u548c\u751f\u6001\u4e2d\u8bb8\u591a\u53c2\u4e0e\u65b9\u53cd\u590d\u8ba8\u8bba\u4e4b\u540e\uff0c\u6700\u7ec8\u5728\u534f\u8bae\u5c42\u8fbe\u6210\u7684\u4e00\u79cd\u8bbe\u8ba1\u3002<\/p>\n<p>\u8fd9\u4e2a\u8bbe\u8ba1\u7684\u6838\u5fc3\u5728\u4e8e\uff1a\u7a33\u5b9a\u5e01\u80cc\u540e\u7684\u6536\u76ca\uff08\u6bd4\u5982\u6765\u81ea\u56fd\u503a\u7b49\u8d44\u4ea7\u7684\u6536\u76ca\uff09\u53ef\u4ee5\u6309\u7167\u9884\u8bbe\u89c4\u5219\uff0c\u5728\u534f\u8bae\u672c\u8eab\u548c\u7a33\u5b9a\u5e01\u7684\u53d1\u884c\u65b9\u4e4b\u95f4\u8fdb\u884c\u5206\u914d\u3002USDH \u662f\u7531 Native Markets \u56e2\u961f\u8fd0\u8425\u7684\uff0c\u4ed6\u4eec\u7684\u56e2\u961f\u6210\u5458\u5305\u62ec\u7ecf\u9a8c\u4e30\u5bcc\u7684\u673a\u6784\u80cc\u666f\u521b\u59cb\u4eba\uff0c\u4ee5\u53ca\u4e00\u4e9b\u975e\u5e38\u5f3a\u7684\u751f\u6001\u793e\u533a Builder\u3002\u6211\u8ba4\u4e3a\u4ed6\u4eec\u662f\u4e00\u652f\u5f88\u4f18\u79c0\u7684\u56e2\u961f\uff0c\u4e5f\u5f88\u671f\u5f85\u4ed6\u4eec\u5728 Hyperliquid \u4e0a\u6253\u9020\u4e00\u4e2a\u771f\u6b63\u6df1\u5ea6\u7ed1\u5b9a\u3001\u5229\u76ca\u4e00\u81f4\u7684\u7a33\u5b9a\u5e01\u3002<\/p>\n<p>\u8fd9\u4e9b\u7a33\u5b9a\u5e01\u4e0e\u751f\u6001\u5185\u7684\u5e94\u7528\u548c\u5f00\u53d1\u8005\u4e4b\u95f4\u662f\u9ad8\u5ea6\u5171\u751f\u7684\u5173\u7cfb\u3002<\/p>\n<p>\u4e3e\u4e2a\u4f8b\u5b50\uff1a\u534f\u8bae\u672c\u8eab\u53ef\u4ee5\u83b7\u5f97\u6536\u76ca\uff0c\u56e0\u6b64 HYPE \u4ee3\u5e01\u7684\u6301\u6709\u8005\u4e5f\u4f1a\u4e0e\u8fd9\u4e2a\u7a33\u5b9a\u5e01\u7684\u589e\u957f\u5f62\u6210\u5229\u76ca\u7ed1\u5b9a\uff1b\u540c\u65f6\uff0c\u4f7f\u7528\u8be5\u7a33\u5b9a\u5e01\u8fdb\u884c\u4ea4\u6613\u7684\u7528\u6237\u53ef\u4ee5\u4eab\u53d7\u66f4\u4f4e\u7684\u624b\u7eed\u8d39\u3002\u6240\u6709\u8fd9\u4e9b\u89c4\u5219\u90fd\u5199\u5165\u534f\u8bae\u5c42\uff0c\u662f\u5b8c\u5168\u5ba2\u89c2\u3001\u81ea\u52a8\u6267\u884c\u7684\u673a\u5236\uff0c\u800c\u4e0d\u662f\u4eba\u4e3a\u51b3\u7b56\u3002<\/p>\n<p>\u6211\u4eec\u8ba4\u4e3a\u8fd9\u79cd\u8bbe\u8ba1\u5f62\u6210\u4e86\u975e\u5e38\u5f3a\u7684\u534f\u540c\u6548\u5e94\uff08synergy\uff09\uff0c\u5e76\u4e14\u6709\u6f5c\u529b\u89e3\u9501\u4e00\u6574\u5957\u5168\u65b0\u7684\u5e94\u7528\u573a\u666f\u3002<\/p>\n<h4>Kinetiq \u5168\u94fe\u8d28\u62bc\u521b\u65b0<\/h4>\n<p>Kevin\uff1a\u4ec0\u4e48\u662f Kinetiq\uff1f\u5b83\u4e3a\u4ec0\u4e48\u5bf9 Hyperliquid \u751f\u6001\u5f88\u91cd\u8981\uff1f<\/p>\n<p>Jeff\uff1aKinetiq \u662f\u76ee\u524d Hyperliquid \u4e0a\u6700\u5927\u7684\u6d41\u52a8\u6027\u8d28\u62bc\uff08Liquid Staking\uff09\u534f\u8bae\u3002\u5b83\u4f53\u73b0\u4e86 HyperEVM \u613f\u666f\u4e2d\u7684\u4e00\u4e2a\u5173\u952e\u90e8\u5206\u3002<\/p>\n<p>\u6211\u4eec\u4e4b\u524d\u63d0\u5230\u8fc7\uff0cHyperEVM \u53ef\u4ee5\u901a\u8fc7\u7279\u5b9a\u673a\u5236\u76f4\u63a5\u300c\u8bfb\u53d6\u300d\u548c\u300c\u8c03\u7528\u300dHyperCore \u7684\u80fd\u529b\uff0c\u76f8\u5f53\u4e8e\u4e3a\u667a\u80fd\u5408\u7ea6\u6253\u5f00\u4e86\u901a\u5f80\u5e95\u5c42\u6838\u5fc3\u7cfb\u7edf\u7684\u7a97\u53e3\uff0c\u4f7f\u5176\u80fd\u591f\u628a\u6838\u5fc3\u529f\u80fd\u5f53\u4f5c\u5de5\u5177\u6765\u4f7f\u7528\u3002\u8fd9\u79cd\u67b6\u6784\u8ba9\u6d41\u52a8\u6027\u8d28\u62bc\u53ef\u4ee5\u4ee5\u5b8c\u5168\u94fe\u4e0a\uff08fully on \u2014 chain\uff09\u7684\u65b9\u5f0f\u6784\u5efa\u3002<\/p>\n<p>\u901a\u5e38\u60c5\u51b5\u4e0b\uff0c\u8d28\u62bc\u662f\u6784\u5efa\u5728\u6bd4\u5e94\u7528\u5c42\u66f4\u5e95\u5c42\u7684\u7cfb\u7edf\u673a\u5236\u4e4b\u4e0a\u7684\u3002\u4ee5 Ethereum \u4e3a\u4f8b\uff0c\u4e3b\u6d41\u7684\u6d41\u52a8\u6027\u8d28\u62bc\u4ee3\u5e01\uff08\u4f8b\u5982 stETH\uff09\u867d\u7136\u662f\u94fe\u4e0a\u7684\u4ee3\u5e01\u5316\u8d44\u4ea7\uff0c\u4f46\u5176\u80cc\u540e\u5f80\u5f80\u5b58\u5728\u4e00\u5b9a\u7684\u94fe\u4e0b\u7ec4\u4ef6\u6216\u8fd0\u8425\u6d41\u7a0b\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u4ee3\u5e01\u5316\u8fc7\u7a0b\u5e76\u975e\u5b8c\u5168\u95ed\u73af\u5728\u94fe\u4e0a\u5b8c\u6210\u3002<\/p>\n<p>\u800c\u5728 Hyperliquid \u4e0a\uff0c\u8d28\u62bc\u76f8\u5173\u7684\u8bfb\u53d6\u4e0e\u5199\u5165\u64cd\u4f5c \u2014 \u2014 \u5305\u62ec\u8d28\u62bc\u3001\u89e3\u8d28\u62bc\u4ee5\u53ca\u6536\u76ca\u6838\u7b97 \u2014 \u2014 \u90fd\u53ef\u4ee5\u901a\u8fc7\u9884\u7f16\u8bd1\uff08precompiles\uff09\u4ee5\u53ca\u6838\u5fc3\u5199\u5165\u539f\u8bed\uff08core writer primitives\uff09\u76f4\u63a5\u7531\u667a\u80fd\u5408\u7ea6\u8c03\u7528\u3002\u8fd9\u610f\u5473\u7740\uff1a\u4e00\u4e2a\u667a\u80fd\u5408\u7ea6\u53ef\u4ee5\u50cf\u5728 EVM \u4e0a\u5c06\u91d1\u5e93\uff08vault\uff09\u4efd\u989d\u4ee3\u5e01\u5316\u4e00\u6837\uff0c\u628a\u4e00\u6c60\u5df2\u8d28\u62bc\u7684 HYPE \u4ee3\u5e01\u8fdb\u884c\u4ee3\u5e01\u5316\uff1b\u540c\u65f6\uff0c\u8d28\u62bc\u3001\u89e3\u8d28\u62bc\u548c\u4f1a\u8ba1\u6838\u7b97\u5168\u8fc7\u7a0b\u90fd\u5728\u540c\u4e00\u4e2a\u94fe\u4e0a\u7cfb\u7edf\u5185\u95ed\u73af\u5b8c\u6210\u3002\u8fd9\u662f\u4e00\u79cd\u771f\u6b63\u300c\u5b8c\u5168\u94fe\u4e0a\u300d\u7684\u6d41\u52a8\u6027\u8d28\u62bc\u673a\u5236\u3002<\/p>\n<p>\u5b83\u7684\u610f\u4e49\u5728\u4e8e\uff1a\u6d88\u9664\u4e86\u8de8\u94fe\u6865\uff08bridging\uff09\u548c\u989d\u5916\u4fe1\u4efb\u5047\u8bbe\u6240\u5e26\u6765\u7684\u98ce\u9669\u3002\u6ca1\u6709\u94fe\u4e0b\u4f9d\u8d56\uff0c\u4e5f\u6ca1\u6709\u989d\u5916\u7684\u6258\u7ba1\u73af\u8282\uff0c\u4e00\u5207\u90fd\u7531\u534f\u8bae\u5c42\u4fdd\u969c\u3002\u56e0\u6b64\uff0c\u6211\u4eec\u8ba4\u4e3a\u8fd9\u662f\u6d41\u52a8\u6027\u8d28\u62bc\u9886\u57df\u4e00\u4e2a\u975e\u5e38\u9177\u3001\u4e5f\u975e\u5e38\u91cd\u8981\u7684\u521b\u65b0\u3002<\/p>\n<h4>Hyperlend \u5728 Hyperliquid \u7ec4\u5408\u4fdd\u8bc1\u91d1\u4f53\u7cfb\u4e2d\u7684\u5173\u952e\u4f5c\u7528<\/h4>\n<p>Kevin\uff1aHyperlend \u6b63\u5728\u6784\u5efa\u7684\u4e1c\u897f\uff0c\u5bf9 Hyperliquid \u4e3a\u4ec0\u4e48\u91cd\u8981\uff1f<\/p>\n<p>Jeff\uff1aHyperlend \u662f\u76ee\u524d EVM \u4e0a\u9886\u5148\u7684\u501f\u8d37\u534f\u8bae\u3002\u81ea\u4e0a\u7ebf\u4ee5\u6765\uff0c\u5b83\u7684 TVL \u6709\u660e\u663e\u589e\u957f\uff0c\u6211\u8ba4\u4e3a\u8fd9\u4e3b\u8981\u5f52\u529f\u4e8e\u4ed6\u4eec\u6301\u7eed\u8fed\u4ee3\u548c\u624e\u5b9e\u6267\u884c\u3002\u76ee\u524d\u5b83\u5b8c\u5168\u8fd0\u884c\u5728 EVM \u4e0a\uff0c\u7528\u6237\u53ef\u4ee5\u5b58\u5165\u62b5\u62bc\u54c1\u4f5c\u4e3a\u4f9b\u5e94\u65b9\uff0c\u501f\u6b3e\u4eba\u8fdb\u5165\u5e02\u573a\u501f\u8d44\u4ea7\uff0c\u672c\u8d28\u4e0a\u662f\u4e00\u4e2a\u7531\u4f9b\u9700\u5173\u7cfb\u51b3\u5b9a\u5229\u7387\u7684\u5e02\u573a\u673a\u5236\uff0c\u501f\u6b3e\u4eba\u652f\u4ed8\u5229\u606f\u7ed9\u4f9b\u5e94\u65b9\u3002<\/p>\n<p>\u8fd9\u672c\u8eab\u662f\u4e00\u4e2a\u6bd4\u8f83\u5e38\u89c1\u7684 DeFi \u6a21\u578b\uff0c\u4f46\u5f53 Hyperliquid \u7684 HyperCore \u7ec4\u5408\u4fdd\u8bc1\u91d1\uff08Portfolio Margin\uff09\u529f\u80fd\u8d70\u51fa\u65e9\u671f\u9636\u6bb5\u540e\uff0c\u8fd9\u5957\u501f\u8d37\u4f53\u7cfb\u4f1a\u53d8\u5f97\u975e\u5e38\u91cd\u8981\u3002<\/p>\n<p>\u6211\u4eec\u4e4b\u524d\u6ca1\u6709\u8be6\u7ec6\u8ba8\u8bba\u8fc7\u7ec4\u5408\u4fdd\u8bc1\u91d1\u3002\u5b83\u7684\u6838\u5fc3\u7406\u5ff5\u662f\uff1a\u4ea4\u6613\u8005\u5e0c\u671b\u80fd\u591f\u4f7f\u7528\u81ea\u5df1\u6301\u6709\u7684\u4efb\u610f\u8d44\u4ea7\uff0c\u5c24\u5176\u662f\u6d41\u52a8\u6027\u5f88\u9ad8\u7684\u8d44\u4ea7\uff08\u4f8b\u5982 BTC\uff09\uff0c\u4f5c\u4e3a\u7edf\u4e00\u62b5\u62bc\u54c1\uff0c\u5e76\u57fa\u4e8e\u8fd9\u4e9b\u8d44\u4ea7\u53bb\u4ea4\u6613\u4efb\u4f55\u5e02\u573a\uff0c\u800c\u4e0d\u662f\u88ab\u9650\u5236\u5728\u67d0\u4e00\u4e2a\u7279\u5b9a\u5e02\u573a\u3002\u8fd9\u6837\u53ef\u4ee5\u51cf\u5c11\u6d41\u52a8\u6027\u788e\u7247\u5316\uff0c\u540c\u65f6\u6269\u5927\u53ef\u4f5c\u4e3a\u62b5\u62bc\u54c1\u7684\u8d44\u4ea7\u8303\u56f4\uff0c\u63d0\u5347\u6c38\u7eed\u5408\u7ea6\u4ea4\u6613\u6216\u73b0\u8d27\u4ea4\u6613\u7684\u8d44\u91d1\u6548\u7387\u3002<\/p>\n<p>\u4f46\u5728 DeFi \u573a\u666f\u4e2d\uff0c\u8981\u5b89\u5168\u5730\u5b9e\u73b0\u7ec4\u5408\u4fdd\u8bc1\u91d1\uff0c\u552f\u4e00\u53ef\u884c\u7684\u65b9\u5f0f\u662f\u5efa\u7acb\u5728\u4e00\u4e2a\u5065\u5168\u3001\u7a33\u56fa\u7684\u501f\u8d37\u5e95\u5c42\u4e4b\u4e0a\u3002\u8fd9\u4e5f\u662f\u4e3a\u4ec0\u4e48\u7ec4\u5408\u4fdd\u8bc1\u91d1\u5728 DeFi \u9886\u57df\u4e00\u76f4\u96be\u4ee5\u5927\u89c4\u6a21\u6210\u529f\u843d\u5730 \u2014 \u2014 \u56e0\u4e3a\u5b83\u9700\u8981\u4e00\u4e2a\u5f3a\u5927\u7684\u501f\u8d37\u4f53\u7cfb\u4f5c\u4e3a\u652f\u6491\u3002<\/p>\n<p>\u5728\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4e2d\uff0c\u5f53\u7528\u6237\u542f\u7528\u7ec4\u5408\u4fdd\u8bc1\u91d1\u65f6\uff0c\u4ea4\u6613\u6240\u672c\u8d28\u4e0a\u53ef\u4ee5\u300c\u51ed\u7a7a\u300d\u5728\u5185\u90e8\u8d26\u672c\u4e0a\u4e3a\u7528\u6237\u751f\u6210\u4f59\u989d\u3002\u6bd4\u5982\u7528\u6237\u62b5\u62bc BTC\uff0c\u4ea4\u6613\u6240\u53ef\u4ee5\u7ed9\u4ed6\u4e00\u6761\u4fe1\u7528\u989d\u5ea6\uff0c\u8ba9\u4ed6\u53bb\u4ea4\u6613\u4ee5\u7a33\u5b9a\u5e01\u8ba1\u4ef7\u7684\u6c38\u7eed\u5408\u7ea6\u3002\u4e4b\u6240\u4ee5\u53ef\u884c\uff0c\u662f\u56e0\u4e3a\u4ea4\u6613\u6240\u76f8\u4fe1\u62b5\u62bc\u7269\u8db3\u4ee5\u8986\u76d6\u8fd9\u90e8\u5206\u300c\u5185\u90e8\u4fe1\u7528\u4f59\u989d\u300d\u3002<\/p>\n<p>\u5728\u5927\u591a\u6570\u60c5\u51b5\u4e0b\u8fd9\u79cd\u6a21\u5f0f\u662f\u53ef\u63a7\u7684\uff0c\u4f46\u5728\u9ed1\u5929\u9e45\u4e8b\u4ef6\u4e2d\uff0c\u8fd9\u79cd\u673a\u5236\u53ef\u80fd\u4f1a\u5bfc\u81f4\u574f\u8d26\u3002\u516c\u5e73\u5730\u8bf4\uff0c\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u9762\u5bf9\u7684\u662f\u4e00\u4e2a\u6781\u5176\u590d\u6742\u7684\u95ee\u9898\uff0c\u800c\u4e14\u6574\u4f53\u7ba1\u7406\u5f97\u8fd8\u4e0d\u9519\u3002\u7ec4\u5408\u4fdd\u8bc1\u91d1\u4e5f\u662f\u4ed6\u4eec\u63d0\u4f9b\u7ed9\u7528\u6237\u7684\u91cd\u8981\u529f\u80fd\u3002<\/p>\n<p>\u4f46\u8fd9\u79cd\u300c\u5185\u90e8\u4fe1\u7528\u6269\u5f20\u300d\u7684\u65b9\u5f0f\u5728 DeFi \u534f\u8bae\u4e2d\u662f\u4e0d\u53ef\u63a5\u53d7\u7684\u3002\u5982\u679c DeFi \u534f\u8bae\u91c7\u7528\u8fd9\u79cd\u6a21\u5f0f\uff0c\u672c\u8d28\u4e0a\u5c31\u662f\u534f\u8bae\u5728\u627f\u62c5\u98ce\u9669 \u2014 \u2014 \u4efb\u4f55\u5728\u534f\u8bae\u4e2d\u5b58\u6709\u8d44\u91d1\u7684\u4eba\uff0c\u90fd\u4f1a\u95f4\u63a5\u66b4\u9732\u4e8e\u7ec4\u5408\u4fdd\u8bc1\u91d1\u62b5\u62bc\u5931\u6548\u7684\u507f\u4ed8\u98ce\u9669\u4e4b\u4e0b\u3002\u8fd9\u8fdd\u80cc\u4e86 DeFi \u7684\u6838\u5fc3\u539f\u5219\uff1a\u7cfb\u7edf\u4e2d\u7684\u6bcf\u4e00\u7f8e\u5143\u90fd\u5e94\u8be5\u662f\u5b8c\u5168\u53ef\u9a8c\u8bc1\u3001\u5b8c\u5168\u652f\u6301\u7684\u8d44\u4ea7\uff0c\u800c\u4e0d\u5e94\u8be5\u9644\u5e26\u9690\u6027\u7684\u98ce\u9669\u524d\u63d0\u3002\u5bf9\u4e8e\u53bb\u4e2d\u5fc3\u5316\u534f\u8bae\u800c\u8a00\uff0c\u8fd9\u662f\u4e0d\u80fd\u63a5\u53d7\u7684\u6743\u8861\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u5728 Hyperliquid \u7684\u8bbe\u8ba1\u4e2d\uff0c\u7ec4\u5408\u4fdd\u8bc1\u91d1\u5e76\u4e0d\u662f\u51ed\u7a7a\u6269\u5c55\u4fe1\u7528\uff0c\u800c\u662f\u7531\u771f\u5b9e\u5b58\u5728\u7684\u501f\u8d37\u5e02\u573a\u5b8c\u5168\u652f\u6491\u3002\u501f\u8d37\u5e02\u573a\u7684\u8d44\u91d1\u6c60\uff0c\u76f4\u63a5\u4e3a\u7ec4\u5408\u4fdd\u8bc1\u91d1\u4e0b\u7684\u501f\u8d37\u884c\u4e3a\u63d0\u4f9b\u771f\u5b9e\u6d41\u52a8\u6027\u652f\u6301\u3002\u8fd9\u79cd\u673a\u5236\u7c7b\u4f3c\u4e8e Aave V3 \u7684\u6a21\u5f0f\uff0c\u4f46\u5728\u67b6\u6784\u5c42\u9762\u4e0a\u66f4\u52a0\u6df1\u5ea6\u6574\u5408\u3002<\/p>\n<p>\u8fd9\u79cd\u6784\u5efa\u65b9\u5f0f\u66f4\u590d\u6742\uff0c\u7528\u6237\u751a\u81f3\u53ef\u80fd\u611f\u77e5\u4e0d\u5230\u80cc\u540e\u7684\u7ed3\u6784\u53d8\u5316\uff0c\u4f46\u5b83\u66f4\u7a33\u5065\u3001\u66f4\u53ef\u6269\u5c55\u3002\u5173\u952e\u5728\u4e8e\uff1a\u5f53\u5e02\u573a\u5bf9\u67d0\u79cd\u8d44\u4ea7\u7684\u4fdd\u8bc1\u91d1\u9700\u6c42\u7a81\u7136\u4e0a\u5347\u65f6\uff0c\u7cfb\u7edf\u4e0d\u4f1a\u589e\u52a0\u5e73\u53f0\u6574\u4f53\u98ce\u9669\uff0c\u800c\u662f\u901a\u8fc7\u5229\u7387\u673a\u5236\u8c03\u8282 \u2014 \u2014 \u501f\u6b3e\u5229\u7387\u4f1a\u77ed\u671f\u4e0a\u5347\uff0c\u5438\u5f15\u66f4\u591a\u4f9b\u5e94\u65b9\u8fdb\u5165\u5e02\u573a\u83b7\u53d6\u6536\u76ca\uff0c\u6700\u7ec8\u901a\u8fc7\u5e02\u573a\u7ade\u4e89\u628a\u5229\u7387\u538b\u56de\u5747\u8861\u6c34\u5e73\u3002\u6362\u53e5\u8bdd\u8bf4\uff0c\u9700\u6c42\u51b2\u51fb\u5e26\u6765\u7684\u4e0d\u662f\u534f\u8bae\u98ce\u9669\u4e0a\u5347\uff0c\u800c\u662f\u5229\u7387\u7684\u77ed\u671f\u6ce2\u52a8\u3002\u8fd9\u662f\u4e00\u4e2a\u5065\u5eb7\u7684\u5e02\u573a\u8c03\u8282\u673a\u5236\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a Hyperlend \u4ee5\u53ca\u5176\u4ed6\u501f\u8d37\u534f\u8bae\uff0c\u5c06\u4f1a\u4ee5\u4e00\u79cd\u9ad8\u5ea6\u534f\u540c\u7684\u65b9\u5f0f\u878d\u5165\u6574\u4e2a\u4f53\u7cfb\u3002\u7ec4\u5408\u4fdd\u8bc1\u91d1\u529f\u80fd\u4f1a\u628a\u9700\u6c42\u4ece HyperCore \u5f15\u5bfc\u5230 EVM \u5c42\uff0c\u800c HyperEVM \u5219\u6210\u4e3a\u501f\u8d37\u5b9e\u73b0\u4e0e\u8d44\u4ea7\u4ee3\u5e01\u5316\u7684\u57fa\u7840\u8bbe\u65bd\u3002\u501f\u8d37\u6d3b\u52a8\u5728 EVM \u4e0a\u5b8c\u6210\uff0c\u540c\u65f6\u4e3a HyperCore \u63d0\u4f9b\u652f\u6301\uff0c\u5b9e\u73b0\u751f\u6001\u5185\u90e8\u4e0e\u5916\u90e8\u6d41\u52a8\u6027\u7684\u9ad8\u6548\u5206\u53d1\u3002<\/p>\n<h2>\u5173\u4e8e\u5e02\u573a\u7ade\u4e89\u3001\u9879\u76ee\u613f\u666f\u548c\u884c\u4e1a\u672a\u6765<\/h2>\n<h4>\u300c\u6211\u4eec\u6ca1\u6709\u7ade\u4e89\u5bf9\u624b\u300d\u771f\u6b63\u60f3\u8868\u8fbe\u4ec0\u4e48<\/h4>\n<p>Kevin\uff1a\u53bb\u5e74\u6211\u770b\u5230\u4f60\u4eec\u7684\u6a2a\u5e45\u5199\u7740\u300c\u6211\u4eec\u6ca1\u6709\u7ade\u4e89\u5bf9\u624b\u300d\u3002\u5f88\u591a\u4eba\u90fd\u89c9\u5f97\u8fd9\u662f\u4e0d\u662f\u6709\u70b9\u81ea\u6211\u5426\u8ba4\uff1f\u8fd8\u662f\u8bf4\uff0c\u5927\u591a\u6570\u4eba\u5176\u5b9e\u8fd8\u6ca1\u6709\u771f\u6b63\u7406\u89e3 Hyperliquid\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u89c9\u5f97\u8fd9\u4e2a\u95ee\u9898\u7684\u5173\u952e\u5728\u4e8e \u2014 \u2014 \u5230\u5e95\u8c01\u5728\u548c\u4f60\u7ade\u4e89\uff1f<\/p>\n<p>\u6211\u7684\u610f\u601d\u5e76\u4e0d\u662f\u8bf4\u5b8c\u5168\u6ca1\u6709\u7ade\u4e89\u3002\u67d0\u79cd\u610f\u4e49\u4e0a\u8bb2\uff0c\u7ade\u4e89\u8005\u5f88\u591a\u3002\u56e0\u4e3a Hyperliquid \u5904\u5728\u5f88\u591a\u8d5b\u9053\u7684\u4ea4\u6c47\u70b9\u4e0a\uff1a\u4ea4\u6613\u3001\u94fe\u3001\u501f\u8d37\u3001\u57fa\u7840\u8bbe\u65bd\u3001\u793e\u533a\u751f\u6001\u7b49\u7b49\u3002\u91d1\u878d\u884c\u4e1a\u53c2\u4e0e\u8005\u975e\u5e38\u591a\uff0c\u5f88\u591a\u4eba\u4f1a\u628a Hyperliquid \u89c6\u4e3a\u7ade\u4e89\u5bf9\u624b\uff0c\u4f46\u6211\u8ba4\u4e3a\u8fd9\u79cd\u7406\u89e3\u5e76\u4e0d\u5b8c\u5168\u51c6\u786e\u3002<\/p>\n<p>\u5b9e\u9645\u4e0a\uff0c\u5728\u5f88\u591a\u573a\u666f\u4e0b\uff0c\u4e0e\u5176\u8bf4\u662f\u7ade\u4e89\uff0c\u4e0d\u5982\u8bf4\u662f\u534f\u540c\u3002<\/p>\n<p>\u6211\u6162\u6162\u770b\u5230\u8fd9\u79cd\u8d8b\u52bf\u6b63\u5728\u53d1\u751f\u3002\u4e0d\u540c\u7684\u534f\u8bae\u5f00\u59cb\u5728 Hyperliquid \u751f\u6001\u4e2d\u6784\u5efa\u4ea7\u54c1\u3002\u5c31\u5728\u524d\u51e0\u5929\uff0c\u8fd8\u6709\u5f00\u53d1\u8005\u544a\u8bc9\u6211\uff1a\u300c\u6211\u4eec\u662f\u591a\u94fe\u90e8\u7f72\u7684\u56e2\u961f\uff0c\u4f46\u5728 Hyperliquid \u4e0a\u53d1\u884c\u7684\u7ed3\u6784\u5316\u4ea7\u54c1\uff0c\u5c45\u7136\u6210\u4e86\u6211\u4eec\u8fc7\u53bb\u4e00\u5e74\u8868\u73b0\u6700\u597d\u7684\u4ea7\u54c1\u3002\u300d \u4ed6\u4eec\u81ea\u5df1\u90fd\u5f88\u60ca\u8bb6\u3002<\/p>\n<p>\u7c7b\u4f3c\u7684\u6545\u4e8b\u8fd8\u4f1a\u4e0d\u65ad\u51fa\u73b0\u3002<\/p>\n<p>\u6240\u4ee5\u6211\u8ba4\u4e3a\uff0c\u5927\u5bb6\u5929\u7136\u4f1a\u5e26\u7740\u4e00\u79cd\u300c\u96f6\u548c\u7ade\u4e89\u300d\u7684\u601d\u7ef4\u6765\u770b\u5f85\u5e02\u573a\uff0c\u4f46\u73b0\u5b9e\u66f4\u50cf\u662f\u300c\u5408\u4f5c\u4e2d\u7684\u7ade\u4e89\u300d\uff0c\u800c\u4e0d\u662f\u5f7c\u6b64\u7a00\u91ca\u4ef7\u503c\u3002<\/p>\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u6211\u4e5f\u786e\u5b9e\u8ba4\u4e3a\uff0cHyperliquid \u6b63\u5728\u6784\u5efa\u7684\u4e1c\u897f\uff0c\u6ca1\u6709\u4eba\u4ee5\u5b8c\u5168\u76f8\u540c\u7684\u65b9\u5f0f\u5728\u5c1d\u8bd5\u3002<\/p>\n<p>HyperCore \u7684\u67b6\u6784\u548c\u65b9\u5411\uff0c\u5f88\u5927\u7a0b\u5ea6\u4e0a\u662f\u751f\u6001\u53d1\u5c55\u8def\u5f84\u7684\u7ed3\u679c\u3002\u8fd9\u4e0d\u662f\u4e00\u5f00\u59cb\u5c31\u8bbe\u8ba1\u597d\u7684\u5b8f\u5927\u84dd\u56fe\uff0c\u800c\u662f\u4e09\u5e74\u591a\u4e0d\u65ad\u6f14\u5316\u7684\u4ea7\u7269\u3002\u4e00\u8def\u8d70\u6765\u5e76\u4e0d\u662f\u4e00\u5e06\u98ce\u987a\uff0c\u793e\u533a\u6210\u5458\u4ece\u7b2c\u4e00\u5929\u966a\u4f34\u5230\u73b0\u5728\uff0c\u7ecf\u5386\u4e86\u5f88\u591a\u8d77\u4f0f\u3002<\/p>\n<p>\u4efb\u4f55\u751f\u6001\u7cfb\u7edf\u7684\u53d1\u5c55\u90fd\u5177\u6709\u8def\u5f84\u4f9d\u8d56\u6027\u3002<\/p>\n<p>Hyperliquid \u4ece\u7b2c\u4e00\u5929\u5c31\u575a\u6301\u300c\u65e0\u5185\u90e8\u4eba\u300d\uff08no insider\uff09\u539f\u5219\uff0c\u4ee5\u53ca\u5bf9\u7528\u6237\u548c\u5f00\u53d1\u8005\u7684\u516c\u5e73\u4e0e\u5f00\u653e\u3002\u8fd9\u79cd\u6587\u5316\u5851\u9020\u4e86\u4eca\u5929\u7684\u751f\u6001\u7ed3\u6784\u3002\u6211\u5e0c\u671b\u65e0\u8bba\u89c4\u6a21\u53d8\u5f97\u591a\u5927\uff0c\u90fd\u80fd\u575a\u6301\u8fd9\u79cd\u4ef7\u503c\u89c2\u3002<\/p>\n<p>\u56e0\u4e3a\u6b63\u662f\u8fd9\u79cd\u539f\u5219\uff0c\u624d\u8ba9\u6211\u4eec\u53bb\u6784\u5efa\u4e00\u4e9b\u522b\u4eba\u6ca1\u6709\u5c1d\u8bd5\u7684\u4e1c\u897f\u3002<\/p>\n<p>\u6bd4\u5982\uff0c\u5f53\u5176\u4ed6\u56e2\u961f\u4e0a\u7ebf\u6c38\u7eed\u5408\u7ea6\u4ea7\u54c1\u65f6\uff0c\u5f88\u5c11\u6709\u4eba\u4f1a\u8bf4\uff1a\u300c\u6211\u4eec\u76f8\u4fe1\u793e\u533a\u548c\u5f00\u53d1\u8005\u53ef\u4ee5\u5171\u540c\u6784\u5efa\u751f\u6001\uff0c\u5373\u4f7f\u4e2d\u95f4\u4f1a\u6709\u788e\u7247\u5316\u3001\u4f1a\u6709\u5185\u90e8\u7ade\u4e89\uff0c\u4f46\u6700\u7ec8\u4f1a\u5f62\u6210\u66f4\u5f3a\u7684\u7cfb\u7edf\u3002\u300d<\/p>\n<p>\u4f46\u5728 Hyperliquid \u4e0a\uff0c\u8fd9\u6837\u7684\u6545\u4e8b\u5df2\u7ecf\u53d1\u751f\u8fc7\u5f88\u591a\u6b21\uff0c\u800c\u4e14\u8fd8\u4f1a\u7ee7\u7eed\u53d1\u751f\u3002<\/p>\n<p>\u6bcf\u4e00\u6b21\uff0c\u5f53\u5927\u5bb6\u5c1d\u8bd5\u7528\u53bb\u4e2d\u5fc3\u5316\u7684\u65b9\u5f0f\u6784\u5efa\u4e00\u4e2a\u53ef\u4ee5\u4e0e\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u5ab2\u7f8e\u751a\u81f3\u66f4\u5f3a\u7684\u7cfb\u7edf\u65f6\uff0c\u90fd\u4f1a\u6709\u4eba\u6000\u7591\uff1a\u793e\u533a\u771f\u7684\u53ef\u4ee5\u505a\u5230\u5417\uff1f<\/p>\n<p>\u6211\u4eec\u53ea\u662f\u6301\u7eed\u5730\u53bb\u8bc1\u660e\u8fd9\u4ef6\u4e8b\u3002<\/p>\n<p>\u6240\u4ee5\u5f53\u6211\u8bf4\u300c\u6211\u4eec\u6ca1\u6709\u7ade\u4e89\u5bf9\u624b\u300d\u65f6\uff0c\u6211\u771f\u6b63\u60f3\u8868\u8fbe\u7684\u662f\uff1a\u5728\u6211\u4eec\u8bd5\u56fe\u6784\u5efa\u7684\u8fd9\u79cd\u300c\u4ee5\u793e\u533a\u4e3a\u6838\u5fc3\u3001\u575a\u6301\u516c\u5e73\u539f\u5219\u3001\u7528\u94fe\u4e0a\u673a\u5236\u6311\u6218\u4e2d\u5fc3\u5316\u66ff\u4ee3\u65b9\u6848\u300d\u7684\u8def\u5f84\u4e0a\uff0c\u6211\u5f88\u96be\u627e\u5230\u4e00\u4e2a\u5b8c\u5168\u76f8\u540c\u76ee\u6807\u548c\u65b9\u6cd5\u7684\u5bf9\u624b\u3002<\/p>\n<p>\u8fd9\u4e0d\u662f\u5426\u8ba4\u7ade\u4e89\uff0c\u800c\u662f\u8bf4\u660e \u2014 \u2014 \u6211\u4eec\u8d70\u7684\u662f\u4e00\u6761\u975e\u5e38\u72ec\u7279\u7684\u8def\u3002<\/p>\n<h4>\u516c\u5e73\u4e0e\u8bda\u4fe1\u7684\u957f\u671f\u6210\u672c<\/h4>\n<p>Kevin\uff1a\u4f60\u7ecf\u5e38\u8c08\u5230\u300c\u8bda\u4fe1\u300d\u548c\u300c\u516c\u5e73\u300d\u3002\u53d1\u4e00\u6761\u63a8\u7279\u8bf4\u81ea\u5df1\u5f88\u516c\u5e73\u5f88\u5bb9\u6613\uff0c\u4f46\u771f\u6b63\u53bb\u843d\u5b9e\u5374\u4ee3\u4ef7\u5f88\u9ad8\u3002\u5bf9\u4f60\u4eec\u6765\u8bf4\uff0c\u6210\u672c\u6700\u5927\u7684\u5730\u65b9\u5728\u54ea\u91cc\uff1f<\/p>\n<p>Jeff\uff1a\u8fd9\u4e2a\u95ee\u9898\u5f88\u96be\u7528\u5177\u4f53\u4e8b\u4ef6\u6765\u56de\u7b54\uff0c\u56e0\u4e3a\u5728\u6211\u4eec\u5185\u90e8\uff0c\u5b83\u4ece\u6765\u4e0d\u662f\u4e00\u4e2a\u300c\u8981\u4e0d\u8981\u516c\u5e73\u300d\u7684\u9009\u62e9\u9898\u3002<\/p>\n<p>\u6211\u4eec\u4e0d\u4f1a\u5750\u4e0b\u6765\u8ba8\u8bba\uff1a\u300c\u8fd9\u4ef6\u4e8b\u662f\u516c\u5e73\u7684\uff0c\u8fd8\u662f\u4e0d\u516c\u5e73\u7684\uff1f\u8981\u4e0d\u8981\u505a\u4e2a\u6210\u672c\u6536\u76ca\u5206\u6790\uff1f\u300d 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Hyperliquid \u6210\u4e3a\u300c\u91d1\u878d\u7684\u4e92\u8054\u7f51\u300d<\/h4>\n<p>Kevin\uff1a\u4f60\u5e0c\u671b Hyperliquid \u5c06\u6765\u88ab\u4eba\u4eec\u8bb0\u4f4f\u4ec0\u4e48\uff1f<\/p>\n<p>Jeff\uff1a\u6211\u5176\u5b9e\u4e0d\u5e0c\u671b\u5b83\u300c\u88ab\u8bb0\u4f4f\u300d\u3002\u6211\u53ea\u5e0c\u671b\u5b83\u80fd\u4e00\u76f4\u88ab\u4f7f\u7528\u3002<\/p>\n<p>\u6700\u7406\u60f3\u7684\u72b6\u6001\u662f\u50cf Bitcoin \u4e00\u6837 \u2014 \u2014 \u6210\u4e3a\u4e00\u79cd\u957f\u671f\u5b58\u5728\u7684\u4ef7\u503c\u50a8\u5b58\u5de5\u5177\uff0c\u4e0d\u53d7\u4efb\u4f55\u5355\u4e00\u6743\u529b\u63a7\u5236\uff0c\u771f\u6b63\u5c5e\u4e8e\u6240\u6709\u4eba\u3002\u6211\u4e0d\u786e\u5b9a\u52a0\u5bc6\u884c\u4e1a\u91cc\u8fd8\u6709\u591a\u5c11\u9879\u76ee\u80fd\u591f\u7ecf\u53d7\u65f6\u95f4\u8003\u9a8c\uff0c\u4f46\u6211\u5e0c\u671b Hyperliquid 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TG \u8ba2\u9605\uff1a <a href=\"https:\/\/t.me\/bitpush\" target=\"_self\" rel=\"noopener\">https:\/\/t.me\/bitpush<\/a><\/p>\n<p>(\u6765\u6e90:\u6bd4\u63a8)                                                             <ins                                 data-ad-layout=\"in-article\"                                 data-ad-format=\"fluid\"                                 data-ad-client=\"ca-pub-8211126797345278\"                                 data-ad-slot=\"6642518713\"><\/ins>                                                                                                                                                                        <\/p>\n<div>\n<h5>\u539f\u6587\u94fe\u63a5:<a target=\"_blank\" href=\"https:\/\/www.panewslab.com\/zh\/articles\/019cff1e-10a9-7197-a456-7177ff6e51e7\" rel=\"noopener\">https:\/\/www.panewslab.com\/zh\/articles\/019cff1e-10a9-7197-a456-7177ff6e51e7<\/a><\/h5>\n<\/p><\/div>\n<div>\n<h5>\u8bf4\u660e: 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[&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":[],"categories":[327],"tags":[271,57,319,158,252,173,49,241,103,22,370,88,281,192],"views":20,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/748966"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=748966"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/748966\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=748966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=748966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=748966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}