Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
Hyperliquid’s HypeRPC and Covalent
Recorded: July 31, 2025 Duration: 0:57:01Space Recording
Short Summary
The Hyperliquid ecosystem is witnessing significant growth with the launch of Native USDC, a surge in hackathon participation, and strategic partnerships with HyperPC and Covalent. As the community rallies around enhancing user experience and accessibility, the focus on innovative projects and fair practices positions Hyperliquid as a promising player in the crypto space.
Full Transcription
Thank you. you I believe you
I believe you
I believe you
I believe you Oh, oh, oh,
oh, oh, oh, oh, I'm a liquid.
GM, GM, hope everybody's doing well on this lovely day.
GM, Zerk, GM, everybody, thanks for dropping in.
What an exciting day.
Native USDC coming to Hyperliquid.
I mean, I have to mention it.
Woo!
Been waiting for that one for a while, so it was great.
Amazing to see.
And we have some incredible speakers today with us.
Let's do some quick mic checks.
Hi, RPC. Quick mic check.
Hello, hello.
Jim, we hear you loud and clear.
And I see Ganesh as well. How are you doing, Ganesh?
I'm doing fantastic. Excited to be here.
Amazing, amazing. We'll get the spaces started
in just a couple of minutes,
letting folk join in,
trickle in. If you're already
in the space, bottom right corner,
there's a little purple bubble. Give the space
a light, give a little retweet, drop a
comment. Always helps with
the algorithm.
I'll play some more music. Might as
well. with the algorithm and I'll play some more music might as well There we go
Toast, how are you doing?
Good, Zerk.
You know, I was just on the admin panel here for the hackathon on Taikai, and it looks like we have crossed.
We have over 80 projects that have been created.
They're not all published.
They're not all in, like, a presentable state.
But we have over 80 projects that that have already submitted uh to the hackathon
i don't even know how many registrations we've gotten but i think last night we were looking at
like 150 or something like that oh and it's only growing 202 participants we crossed
that is amazing news this thing just keeps on growing. So I'm excited, man. How are you today?
I'm doing great. We had a late space yesterday, so great to start at a regular time today.
Let's get this space started. All right. So today we have the privilege, the honor, the prestige of having the amazing, the incredible sponsors coming
from Hype RPC and Covalent.
So we usually start with the beginning.
Let's do some quick introductions.
I'm Zerk, co-hosting this with my lovely colleague Toast.
We'll go to Toast, we'll go to Hype RPC, and then we'll go to Covalent Ganesh. I am Toast. We'll go to Toast, we'll go to HyperPC, and then we'll go to Kavehlan Ganesh.
I am Toast.
I'm a fellow co-host here for the Spaces
and a fellow organizer of the Hackathon.
HyperPC, folks.
Yeah, thanks for the introduction
and thanks for the invitation.
I'm Dylan, the founder of Imperator,
the team behind HyperPC. Yeah, thanks for the invitation. I'm Dylan, the founder of Imperator, the team behind HyperPC.
Yeah, thanks for having us.
Good morning, everyone.
I'm Ganesh.
I'm one of the founders of Covalent.
We built the Goldrush API,
which is one of the best data APIs,
blockchain data APIs in the space.
Quick tidbit here. Covalent started at a hackathon.
Me and my founder put our heads down, worked overnight to build that first kind of like integrator.
And so I'm a huge fan of hackathons.
I love hackathons and love supporting hackathons and just seeing what you guys are going to build.
Very, very excited.
Nice.
That's amazing to see.
And HyperPC, can't say it's possible.
All right. we got the intros out of the way. I think the most important question is, what is HyperPC
and what is Covalent? I'd love for y'all to contextualize it as well, you know, in terms
of the Hyperliquid ecosystem, if that's possible. So let's start with HyperPC again and then go to Covalent afterwards. Sure, here we go. So HyperPC is
the go-to place to access to the data around Hyperliquid. We are, you know, infrastructure
provider, RPC provider, data provider around Hyperliquid. We do provide data related to EVM
and we work closely with all partners and ecosystem, you know, people
building around Hyperliquid and providing them dedicated info, access to road data or,
you know, just for them to build on top of Hyperliquid.
We know that it's for them, for builders, a pain to, I would say, maintain infrastructure,
especially on Hyperliquid,
which is a little bit different from other ecosystem. The infra could be tricky to maintain,
could be a little bit challenging. And we're all here to maintain that for you guys, for the
builders. We take care about the infra where you guys can just build on top of hyperliquid without taking care about
the burden of the the architecture generally speaking so that's what we do and what we are
looking to run continuously supporting hyperliquid in the long term and yeah here we go nice and i
know rpc is a huge topic a huge priority as well for Hyperliquid team.
Toast, do you want to expand on that?
Yeah, actually, this is a question I wanted to dig into a little bit later.
But I know that there are actually some bounties around improving the Hyperliquid RPC.
And so, yes, this is a hot topic.
And a lot of these are, you know, core foundational pieces
of infrastructure. I think that, yeah, I want to dig into these questions. I'm not sure I should
know more as somebody who is somewhat technically literate, if there's a lot of overlap, if HyperRPC
is focused on EVM, and if the RPC bounties here are for HyperCore, or if there's a lot of overlap, if HyperRPC is focused on EVM, and if the RPC bounties here are for HyperCore,
or if there's any overlap there.
But are you at all interested, involved
with the RPC bounties that are part of this hackathon?
I think so we are, yeah.
The main topic, and I can give you more context on that part. The tricky part around the can be like a pain, I'd say, to run basic application where you are relying
on archival data.
So yeah, the hackathon is also a good place
to have people working on archived data.
There's a guy that huge shout out to Sprite
who is building and maintaining.
You know, right now or RPC generally speaking so yeah hopefully we can have like full team supporting those
kind of initiative hopefully we can have you know more info related to that. And that's why we are also supporting this hackathon.
Can't wait to see more more products and more.
Yeah.
Work around this topic, which is super critical in this case.
I know, right?
I feel like RPC is one of those essential pieces for, you know, obviously it is, but
for the quality of life of users as well.
Sometimes they're like, oh, the chain is not fast or something, you know, it's kind of
like wonky or janky.
And most of the time, RPC issue, hence providing that infrastructure just makes for a much,
much better experience as a whole
um yeah
unless you were agreeing with me totally agreeing with you and maybe to give more context for
people that are not technical see the the rpc like the the gateway to interact with the chain, the EVM chain.
So if you don't have this gateway, this entry,
basically you cannot run an application or communicate with the chain to retrieve data.
So that's why it's a core component of it.
Beautifully said.
And I love it that you break it down for non-technical people such as myself.
Let's go to Covalent and Goldrush and talk about what you guys are bringing to the hyperliquid
ecosystem and what is it all about. Absolutely. So I'm going to break my answer down into three
parts. The first is what is Covalent? And the second is why do you need an indexer?
And the third is why we're excited about the hyperliquid ecosystem and what's going on with that system.
So first is what is Covalent is a data infrastructure provider, which means our entire focus is extracting data
from the chain and then offering it through a structured API. So that is the key thing. So it's
not raw responses. It's not raw bytes. It's fully enriched data. So for example, if you need token balances, it gets you the spot price and the 24R historical price as well.
So this is not available from the RPC.
So that is why you need an indexer.
And we've been working on this problem for over five years now.
And fundamentally, the RPC and the blockchain is starting to converge into something that we had written as a manifesto five years ago.
So blockchains are billboards. They're not databases.
What that means is that the entirety of the blockchain is to validate transactions, settle it on chain, and then inject it once the block propagation happens on.
and then eject it once the block propagation happens on.
So all of these things with archive nodes,
getting RPC to pull out data,
these are all just hacks.
They're not enterprise ready.
They're not meant for mainstream adoption.
That is just our thesis.
And so we started building out
what is today known as Indexer.
And what we do is we copy out
the entire blockchain from the Genesis block,
normalize that into a single schema,
and then offer that through our Gold Rush API.
So we are read-only, so we don't compete with RPCs in
the sense that you can never write to Gold Rush.
That is not our focus.
And we do not provide raw data. What we provide is structured data. So we have a lot of people who are not able to provide the right to Goldrush.
That is not our focus.
And we do not provide raw data.
What we provide is structured data.
So that is another important factor.
So this is like what we've been doing for the past couple of years.
And today we have hundreds of paying customers on the Goldrush API.
Everyone from the enterprise use case like Fidelity to Jump Crypto to Ernst & Young,
and to smaller startups like there's FunXYZ, there is Rainbow Wallet, there's Control Wallet.
So it's a very horizontal platform from wallets to tax providers, to NFT floor price analysis tools,
to forensics,
so chain analysis is another customer.
So the benefit here is that you have the entire blockchain
accessible to you through a unified schema.
So this API works across, I think 150 chains, if not more.
And all you have to do is just change one character,
which is a chain ID.
And then you can move from Arbitrum to Optimism to Base to Hyper-EVM and so on.
So that's basically what the Goldrush API does.
And so if you need to pull out token balances,
if you need to render your portfolio,
you need to do like Flow Price,
you want to do your cost basis calculations,
your P&L, track new pairs, everything is possible through the Gold Rush API. So that's what Gold Rush
does. Now, specifically with the Hyper Liquid ecosystem, there's two chains, there's Hyper Core
and Hyper EVM. Hyper EVM is what is supported today.
So if you go to the Gold Rush API and put in the HyperEVM mainnet as a chain ID,
you're able to use our full set of foundational APIs.
This is, you can build a block explorer if you want,
so you can get any historical transaction at any point in time.
You're able to get wallet holdings for any wallet
because we index the entire chain.
So every block from the Genesis block is supported.
We are able to get prices.
You're able to do approvals and so on.
All kinds of things that are very useful
for the foundational API.
And on the streaming API,
this is where you can build a copy trading box
and you can do, it's mostly for trading use cases,
and it has OHLCD candlestick data.
This is work in progress.
The RPC itself does not support,
like HyperEVM RPC does not support WebSockets today.
So this is either we would ask for someone in the community to do it,
and maybe sponsor a bounty,
or maybe in this current hackathon there is an existing bounty,
or we would just do it ourselves internally because we have
a lot of experience modifying and managing nodes.
So it'd be a great contribution to the Hyperliquid ecosystem.
So that's what's happening on the streaming API.
And then HyperCore integration is actually ongoing.
HyperCore is not an EVM chain,
so it requires some custom work.
So we're going through that process.
And the entire value of our system is to have
all transactions from Genesis,
which means we have to go back to the first block,
which that data may or may not be available. transactions from Genesis, which means we have to go back to the first block, which may,
that data may or may not be available. So we have to do a little more digging there.
So that's basically the entire Covalent stack. And you can go to goldrush.dev and get started.
It's a free to sign up API. And we have special bounties for the hackathons,
for the hackathon participants this time around.
That is awesome.
And actually, you answered one of my questions that I had for you,
which was that bringing Covalent and the Goldrush API product to Hyper-EVM
is just an example of the vision of Hyper-EVM as creating a layer
that is compatible with existing solutions out there
that products can come and plug into.
So the question that I was going to ask was, do you have plans for adding indexing and adding
hyper core data to your data products? And it sounds like you just said that you do. That's
already on your roadmap, which is, in my opinion, is going to be one of the most important
differentiating factors when teams are building
on Hyperliquid and they're looking
for aggregated data providers like you guys,
they're gonna be looking for providers
who have actually indexed and are offering Hypercore data.
So I'm very encouraged to hear that you're doing that.
And that is very aligned, very based,
and excited to have you here in our ecosystem and
in our hackathon yeah absolutely and and i wanted to talk about this bounty that you mentioned
because basically i feel like it's a product that that is almost made for bounties. It's like, use our API and build some cool shit on top of it.
So Ganesh, what would you like to see coming out of this hackathon?
And really, I want it to be specific to your product.
And maybe afterwards, we're going to expand the question to all products.
Absolutely.
So we've done over 200 hackathons over the last couple
of years so very active as a as a sponsor as a as a mentor as a judge um across you know uh in
real life hackathons and uh virtual hackathons so i would say there's two kinds of audiences that hackathons attract, and we should level set to these two audiences.
The first set of audiences are introductory, new to the ecosystem, new developers with maybe six months to a year worth of experience.
And for them, they need to cover the basis, which is how do you render token balances?
How do I render a price chart?
How do I render a list of my wallet activities?
How do I actually submit a transaction to the blockchain?
How do I do all of these basic things?
Because these are, I would say, it's why we call them the foundational API.
These are foundational to any application.
You always have to render balances and do those kinds of things. So I would say, you know, go through and figure out how do you
replicate a very popular application, maybe a MetaMask or something, and support that on the
hyperliquid ecosystem. So that is for introductory, you know, beginner developers. So that's a good kind of like start.
And so we have some bounties that support that.
And then for the more senior devs,
the more advanced devs who are up for a challenge,
they should do something really novel, right?
This could be novel on the mechanism level.
This could be novel with like data analytics.
This can be novel with, you know,
in some aspect. I think one of the crazy things about these hackathons is that it really pushes
the frontier of what's possible. And I keep an eye on all of these hackathons. So the ECC hackathons,
I looked at all the winners, the Solana hackathon, I looked at all of the top projects.
There were over 1,000 projects, so it's
hard to dig into all of them.
And it's mind-blowing.
That's just to be honest.
The kinds of things that are being built at these hackathons
will be mainstream in six months to a year from now.
So this is the frontier.
There are no rules.
And so I cannot actually. mainstream in six months to a year from now. So this is the frontier, right? There are no rules.
And so I would, I cannot actually, anything I say would be constraining. Let's leave it at that,
right? Because this is the unexplored frontier. And so I would say, you know, if you're a senior dev, if you've, you know, built a couple of apps, you should do something that's uniquely possible on Hyperliquid.
Uniquely, I mean, clearly Hyperliquid has some unique things with the big blocks and the small blocks.
And right now we're going through an issue with the contract addresses being different on Hypercore and HyperAVM and all that stuff.
So I would highly, highly recommend that you push the edge in what's possible.
And that is how we as an ecosystem can really develop and Hyperlook is able to establish itself as a place for the origination of new ideas.
And that's extremely important. You see that on ETH, you see that on Solana, but you don't see this on any of the Me Too L2 clones because they're just copy and paste.
this on any of the Me Too L2 clones because they're just, you know, just copy and paste.
So that's, I would emphasize that, you know, if you're a senior dev with a couple of years
of experience under your belt, definitely try to push the frontier.
Go crazy is what you're saying.
Get creative, get those, you know, don't just copy paste whatever's been done on another
chain.
Make something unique and special.
I love that.
I love that.
And Ganesh, we're going to come back to you afterwards.
Because it seems you have so much experience with hackathons. I feel like so many questions here.
Right, Toast?
For sure.
Yeah, I do want to get your take on some of the hackathon stuff in general.
But we do want to give some love to HypeRPC.
Which, by the way i was excited
i went on to hyperpc under your link tree and i found that you have a linkedin presence
and hyperliquid is like non-existent on linkedin it's one of my side projects is to bring to
evangelize hyperliquid on linkedin because there really isn't much but we've had a couple of our
sponsors dexari is also on linkedin
and hype rpc has a presence on linkedin so i just wanted to appreciate you uh for doing that um i'm
gonna start um interacting with your content and stuff on uh on linkedin as well uh anyways back
to you zerk i don't know if you had a question for hype rpc Toast has the most degenerate profile picture and is a big fan of LinkedIn.
I am. I actually had a whole LinkedIn following. I guess I still do. But it's a totally different,
it's more adjacent to my previous career. I was more into like, you'd say like quant stuff,
machine learning and data science in web two, nothing to do with Web 3. So
it's a very different audience. But the good news is that there's a lot of builders and we're already
attracting a lot of developers. And I really do like bringing people in who have a different
perspective. You know, notable builders in the space who come from more traditional tech are,
you know, Jeff himself. He did a lot of finance work in the space who come from more traditional tech are, you know, Jeff himself.
He did a lot of finance work in the sort of traditional finance world before he came to Web3.
So, yeah, definitely on a tangent here.
But there's a lot of value to be added from people coming, builders coming in from outside of Web3 for sure.
Yeah, that's exactly what we're looking for when you think about it is people that people that are different people that think differently than what we see on
X or telegram. So, you know,
then they can be creative like Ganesh says and try something that hasn't been
done before just because they don't even know what's available.
All right, let's go to hype RPC and talk about, you know,
what they would love to see being built during this hackathon for themselves,
you know, something that would really elevate their product.
And then we'll go wider scope a little bit afterwards.
So there's like one features that we would like to see natively, which is WebSocket.
Ganesh mentioned about that, you know, HLNode, the official binary from Hyperliquid does not
support WebSocket. So this is a feature that
many people are asking around us. We would like to natively support that. So this is one of the
main topics. And of course, all code related to archive nodes, again, those are not fully supported, not the way that we'd like to
do it basically. And yeah, having builders working around infra and tooling would be the best. And
we know that with such, I'd say, improvement, we will be in better position to give full confidence to user and give more space
for them to build in the best place.
Right now we have some blockers, technical blockers, infra blockers that would like to
be solved thanks to this hackathon, hopefully, maybe, we don't know.
And yeah, those are the main topic, ArchiveNode, WebSocket, generally speaking, yeah.
Nice.
Yeah, let's see cool ship being built that is useful for y'all.
I love that.
That's really important.
But expanding, and I'll go back to you, HyperPC, expanding outside of something useful for HyperPC,
what do you think would be a cool hackathon project for Hyperliquid as a whole in order to bring more users
or just some crazy idea maybe that you had that could inspire some of our hackers?
What is the idea maybe that you had that could inspire some of our hackers?
Not necessarily something crazy, but I think just having the same support that we can see on other ecosystem would benefit users and, you know, allows other builders from other ecosystem to come to Hyperliquid.
Like I said, right now, if you want to attract builders from other ecosystem, it can be a pain.
You know, there is like some edge cases
that you have to solve before having full compatibility.
So if we were able to solve that, then yeah,
it would make everyone's life easier.
And generally speaking for the ecosystem,
it would make things way, way better.
And what about you, Ganesh? I know you didn't want to say anything, but with over 200 hackathons judged,
I'm sure you have some ideas, some thoughts about what would be a cool thing that comes out of this hackathon.
a cool thing that comes out of this hackathon yeah so every every season every year there is a
new uh focus for us internally at covalent and we go and uh try to incentivize and just explore
what's possible on the application stack so you would say back in 2020, 2021 is all DeFi and then it was NFTs and then there was a period, maybe a short period with GameFi and restaking and so on.
So today, majority of our focus is on two things.
One is UX.
And so things along unified balances, things along seamless bridging, things along gas abstraction, account abstraction,
chain abstraction, everything that helps alleviate the mental torture that crypto users have to go
through with manual bridging and even understanding what kind of asset it is, what is a risk profile,
because you get confused between native USDC and wrapped bridge USDC.
I think that is an area where I feel like we are doing a lot,
but just not enough.
And I think the adoption and the friction.
And just I heard this morning that CoinDCX,
one of the biggest exchanges in India,
one of the engineers was hacked india uh they were uh one of the engineers was
hacked and uh his private keys were stolen and 44 million dollars was just stolen so things like
that is is a pure ux nightmare and so anything along those runs is super super interesting i
think uh we haven't even scratched the surface of what's possible because it's obvious and it's inevitable
that there's going to be multiple chains and people are going to have asset and data fragmentation.
So anything along those lines, I think, is beautiful. I love to see projects like that.
And then the second piece, of course, is AI. So I would say if you look at the AI space,
these coding co-pilots like Cursor and Windsurf have had a lot
of traction. It's incredible to see how productive they are. In fact, I would say it's a sin if you're
a programmer and you don't use Cursor just to accelerate. And I think trading is going to become the same way. And if you don't have a
trading copilot, then you're basically committing fiduciary fraud. I'm just hyping this up. Of
course, it's not that, but that's what I feel is going to happen. And so anything that helps a user, a trader, combine all of these signals, you know, these risk signals, the sentiment
signals, the on-chain signals, you know, veil concentration, and just helps the trader
make more effective trades and also suggests like stop loss with historical analysis.
Anything that helps remove that burden
is I think a very valuable product out in the space.
And so I think there's a few teams that are trying to do this,
but I think AI is going to take over all of our jobs.
I would say I'm willing to bet money on this in
the next three years we would not need even the hosts on this uh on the space so sorry toast and
sorry hyper liquid you guys are your days are numbered the initial song was all ai by the way
and your your your days are numbered here as a as host so yeah, so it's inevitable
but yeah, I would say these are the two
kind of areas that I'm very excited
about and you see all the infrastructure guys
like the chain attraction
the intent platforms
the messaging platforms
everything just boils
into these two kind of areas
and yeah, I'm very excited because
at the end of the
day hype evm is another evm um chain uh performance and all that yes it'll catch up but i think the
experience there on the application stack is what's going to um is going to differentiate uh
hype evm as opposed to any other generic uh evm chain Go ahead, Taos.
I was going to say that I think you answered the question really well in a very good hackathon
way because the question started out with, what are your crazy visions for what this
hackathon does?
And then actually both of you kind of reined it in and said, actually, we're working on
foundational technology that will help builders build in
the space, which has kind of become a theme for this spaces here.
And in particular, Ganesh, I appreciate your vision, laying out a vision for using AI to
build tools that assist traders, because I think as we attract builders, we're growing
this ecosystem, especially we're getting a lot of like these DeFi projects.
We had Pendle come on to Hyper EVM.
They're all coming and they're building a lot of interesting DeFi stuff around the core hype coin, which is really backed by revenue generated from trading activity.
So at the end of the day, like Hyperliquid's end
user is the trader that they are individuals and institutions that are doing trades on HyperCore
specifically. So like you are here as Covalent and actually both of these projects, you know,
adding to your, adding to your set of products, the, the data that you're indexing from HyperEVM and HyperCore,
and then building that data foundation that can power these AI products.
That is very cool.
That is very hackathon aligned.
And I am excited for the opportunities that you're going to have to provide data for just the hackathon teams.
I think you're in the right place to succeed here in the next few weeks. So
this is all very exciting stuff. Yeah, I agree. And, you know, I'm always focused on onboarding
and bringing more people into the hyperliquid ecosystem or bringing more people on chain,
period, because I'm tired of seeing all these sexes and these centralized entities, you
know, kind of profit off our degen crypto ways.
So in a sense, I feel like account abstraction is a huge one, right?
I feel there's still so much friction to get on chain or, you know, let's say to get onto
to get on chain or, you know, let's say to get onto hyper liquid. So someone creating a user
hyperliquid.
experience that makes it extremely seamless, I feel would be a huge value to the ecosystem.
I think this is what you were talking about, Ganesh. I don't know if you have any thoughts on
what would it take to bring more users to hyper liquid. I think account abstraction is one,
but there's, and I agree with the AI tooling, that would help shitty traders such as myself.
But anything else that you feel is critical to put more people on chain instead of trading off chain, I guess.
So the question is, what is it going to take to bring more users on chase correct yeah
i would say um like use cases outside trading is what's gonna what it's gonna take like i'm
not a trader i started my career as a physicist i've uh only traded and i've
only ever lost money so that's my trading experience short-lived trading experience
so for me to use hyper evm it'll have to be like i'm not really motivated by making money
um you know i think money is important but there's a lot more uh to my career and my life
than making money um so i would say there has to be something else besides uh trading right i think
there has to be something that is intellectually uh attractive. I was speaking to a team yesterday that was going back and building like a looping strategy
on hyperliquid.
So that is like intellectually very attractive, right?
So it's not just the money-making opportunities.
It could be just a creative itch.
It could be any of those things.
It could be like financialization of art.
That would attract a lot of eyes.
So it's not always about your win rate.
And I would say majority of the world is actually not about trading use cases. So if there has to be a broad appeal,
I think it's clear blockchain technology
is going to touch every facet of life,
just like AI is.
So I think there's lots of other things
you can do here.
I actually don't know a specific direction.
I don't want to make the mistake
of predicting the future
because my experience is always, I've always been on the wrong side of history. So I would
say that's where I think I'll leave my thoughts at.
Oh, that's cool, man. And I'm also a bad trader. So, you you know i'm glad that they gave us the points because that
made up for all the bad trades uh you know i'm mostly now hlp and and and safer fakes
like that that i prefer to go ahead i don't know about you or ganache actually if you've had this
experience of of like um if you plan to trade out in advance
um and then you you start that trade uh you usually end up fumbling the trade yourself
by like logging on like you look at the charts and then you intervene in some way in your original
plan and then it all goes to crap because because you logged on and looked at it and like changed
your mind or whatever so i think actually like a lot of people have good trading instincts but their actual human uh the human machine driving the trading
is um is an actual flaw because of you know emotions and etc like this is very common you
know trading advice but just this vision that you have of building an ai based tool where maybe if i
can set up a strategy and say like okay ai co-pilot assistant you're going to
take care of all of the interventions that need to happen and i'm actually not even going to check on
this position or whatever um actually i think that a lot of traders who feel like they they
are not very good at trading would be able to improve if they're able to actually stay offline
and not check the charts and stick with their plans and trust in the ai i think having that ai layer
the charts and stick with their plans and trust in the ai i think having that ai layer
um could actually help you know traders have more confidence in sticking to their plan
and that sort of thing but bringing this all back to the the hackathon thing i was um
and bringing um the conversation to hype rpc again i i was looking at and i think um i think
that i've seen there's an actual uhliquid hackathon happening in real life.
I believe it's the first IRL hackathon happening in Korea.
And I think, HypeRPC, are you guys involved with this hackathon?
And if so, I was hoping that you could talk a little bit about what you're hoping to achieve here in our hackathon, this virtual worldwide one, but also if you're involved in this IRL hackathon happening,
if you have any thoughts about virtual hackathons
versus in real life hackathons,
and also just what HypeRPC is hoping to achieve
in these hackathons.
Yeah, so thanks for mentioning that. So yeah, we're behind this hackathon. Yeah, so thanks for mentioning that.
So yeah, we're behind this hackathon.
We are organizing the first ever in-person hyperliquid hackathon, which will take place
this September 21-22 in Seoul, Korea, around the current blockchain week.
It will be two days of full building and launching shipping on Hyper-EVM, just code.
And to be honest, this is my first experience in online hackathon.
So I'd say that we would like to achieve the same thing, but with a different vibe,
where we are all in person and all in the same boat, trying to achieve the same goal,
which is enhancing the experience on Hyperliquid, trying to attract the same goal, which is, you know, enhancing the experience on Hyperliquid,
trying to attract more builders, people around Hyperliquid, and yeah, just make evolve the
ecosystem as well. I think that, you know, Hyperliquid is super early. It's maybe, yeah,
one year launch, not even one year, but still early and many things to be built around it.
And I think that those, we think that those hackathons,
especially a physical one,
could be also like add more opportunities
and give place and birth to new projects
that will for sure bring value to the ecosystem as well.
Yeah, we can definitely see some synergies as well, right?
If they start building something at this virtual hackathon and then they follow through or
continue on that idea or expand upon it at the IRL hackathon, I feel like this could
be like a cool thing, right?
From virtual to IRL and then afterwards you get like a really good product.
from virtual to IRL and then afterwards you get like a really good product.
Yeah. You know, now you're making me fancy.
Like we didn't coordinate at all with the,
this Korea hackathon and this virtual hackathon,
but now you have me fantasizing about just organic community driven hackathons
just popping up and that these builders will just keep on
rolling from hackathon to hackathon and the funding will all magically be there and these
projects will just build a critical mass and totally take off in like a totally aligned
community um that would be very cool and i i really do like um the way that the hackathon
reshapes this sort of competitive arena,
which is that, you know, everyone wants to sort of stake out a piece of this pie,
and it really refocuses all of our efforts on growing the pie.
It's all classic stuff.
But just seeing multiple hackathon efforts popping up, you know,
in response to some of the just lack of basic tooling and community, you know, public goods is really encouraging.
And it, you know, just shows that we're all, we all really are aligned, I think, a lot more than we often realize in some ways.
and realize in some ways.
Exactly, and that's super exciting to see those events
like that.
And I hope to see you guys attending,
especially Ganesh, since you have a lot of experience there.
Maybe you can help us ship this hackathon too.
So yeah, can't wait.
Would love to partake.
Let's follow up on some materials here.
I love this. We're doing business development on spaces. And it's really impressive to see how the community rallied together behind this hackathon. I want to mention this like one more time. It's 250,000 raised from community sponsors you know there's no foundation all the organizers
are doing this volunteering because we just enjoy hyper liquid we want to see the space grow we want
to elevate it um you guys you know coming on the space and chatting with us it's it's i guess you're
getting some marketing out of it but really i think we all believe in the hyperliquid vision.
And I don't know any other ecosystem that had such a massive community-organized hackathon, and one that's going to be IRL as well in the very near future.
So, very cool.
All right.
Well, I feel like this is the time for know, the time for the most important question.
Toast, you know where I'm going with this, right? I know what's coming. I know what's coming.
All right. Let's start with Ganache and then we'll go to HypeRPC. But question is very easy.
Basically, what is your bull case on hyper liquid why are you so bullish on
hyper liquid so let's start with ganache and then we'll go to hyper PC
sure yeah I I've seen lots of ecosystems over the years right we part we
partnered with what 60 different chains from all the L2s to the L1s to across the globe.
And so I know some signs on where I get bullish and I have confidence because we are also investing our resources and our time and you know attention to support an ecosystem so there's a couple of things
that stand out about the hyperliquid ecosystem that's uh very very very positive in my eyes
first this has to be the team and so i'm not sure how these guys do it uh there is a couple of people
um there's there's one guy uh i think his name is julian or zulian or something like that and uh
this guy his response time is i'm not kidding you 10 minutes 24 7 so i don't know if this is a if
he's a bot or if it's like multiple people under the same persona or he just never sleeps i'm not
sure um what's going on there,
but just how responsive these guys are,
that is like a very, very, very positive sign.
And I think, you know, there's a lot of ecosystems where, you know, you ask a question,
why does this work this way?
And say, okay, let's, I'll get back to you
like end of next week.
And like, okay, well, you know,
I've just lost interest, right?
So I think that is like point number one in terms of like how much energy how much you know um is is on the
team on the core team i think that is like super super important so um yeah if anyone knows him
um you know just tell him that i shared this little bit of tidbit. Doesn't mean they should go spam. I DMed him right now.
He's listening to the space, by the way.
Oh, no way. Crazy.
Okay, awesome.
I'm calling him from my phone,
so I have no idea.
Anyways, so Julian, keep up the great work.
I think that's super cool to see
how supportive you are of the ecosystem.
So that's point number one.
Point number two is the technical grind, right?
So what that means is that, you know,
how much innovation is built into the tech stack?
And so I have a whole Twitter thread.
So that I've written that I'll post sometime
in the next couple of days on what makes
the HyperEVM unique.
How do they do these big blocks, small blocks? What's ahead on the tech stack,
on the consensus mechanism, the actual technology here? Because today to launch a rollup is so
trivial. You just go to Gelato or Conduit or any rollup as a service, and you pay a few thousand
bucks a month, and then you have a new chain with a new token and there's lots of other like unique stacks out there like there's the zk sync stack there's the arbiter
nitro stack there's the um the op stack so there are all of these roll-up stacks and i think
polygon has something with the cdk as well but why build something from scratch that's unique and it
has to be differentiated and i think that story is not fully uh told and i don't think the market
has understood that so if you look at the stock market and the s&p 500 it's all tech companies differentiated. And I think that story is not fully told. And I don't think the market has
understood that. So if you look at the stock market and the S&P 500, it's all tech companies
at the top, right? Maybe Netflix is one exception, but it's all tech companies. It's not like your
JP Morgan. It's not any of these banks. So this transition to technology is, I think,
extremely bullish. So I don't think that's priced in yet. So that's, I think, a second point.
The third is just the financialization and the cap table.
There's a lot of people who are eating well
because of the airdrops.
And maybe this was intentional, maybe it wasn't,
maybe it's just a path dependency here, having no VCs who can dump on your face.
All of those things are super, super positive.
At the end of the day, I've seen so many token launches where it's actually quite, I think it's disgusting to see these guys just dump on guys who don't know any better.
And I think the exchanges are in on it.
And unlocks are not super clear.
There's no transparency.
And it's down only chart.
And you can see that with Celestia.
You can see that with a couple of these other predatory tokens.
And then Hyperliquid, none of that stuff happens, right?
There's nobody waiting for the greater fool theory here.
So I think these three components are super important,
and that's why I think Hyperliquid will be here.
Perhaps it's even the token of this cycle,
but I don't have a magic eight ball on token prices.
So if I did, I would not be on this call.
But yeah, so I think these are the things
that I'm very bullish about the Hyperliquid ecosystem.
You know, I want to comment on the distribution of the token
because there is actually kind of an issue with people getting,
if anyone is like watching the hype price chart very closely, there are these big dump events where airdrop recipients are dumping millions of dollars of hype.
And they're usually doing it because they need liquidity to fund these big multi-million dollar trades that they're doing on hyperliquid perps.
trades that they're doing um on hyperliquid perps you know it makes sense because these are the
people who were making these types of trades uh back when there were uh there were points to to
be earned using hyperliquid and they're still doing the same activity what's interesting is
that they're dumping their their tokens making trades but then they're always coming back and
rebuying hype and they're using hype as their store of value
um for these different trades but it does mean that sometimes um when there's a lot of market activity uh hype is actually going down because there is this dumping happening so it's like um
they're not vcs they're not insiders uh but they are very active traders which means they're not
just uh they're not just hodling their their
hype they're selling and buying it all the time uh which can be kind of annoying but another piece
of it is that you know a lot of us you know hackathon organizers um did receive the airdrop
and we're allocating a lot of this capital into even like myself, I'm personally backing this hackathon
because I see it as actually, okay, the core team
and Jeff wanted to actually leave it up to us, the users,
on how to distribute a lot of this capital
rather than making those decisions themselves
or having VC partners to make those decisions alongside them.
They really sort of distributed it.
So it's kind of almost like the original vision
for what a DAO would be in that the capital has really sort of distributed it. So it's kind of almost like the original vision for what a Dow would be,
in that the capital has been sort of distributed
and that the building is happening
and the funding for the building is happening
in a sort of a distributed way.
So it's really paid off.
The distribution model, I think, is proving itself.
Absolutely, and Ganesh, you say you're not good at predicting the future,
but I think this one you predicted correctly.
Hype is going to be the point of this cycle.
This space is recorded.
We can listen to it later.
Not financial advice.
And those are your words, not my words.
But yeah, just to be a disclaimer.
Of course, of course.
He did not say the fight i told it all right let's get to let's get the hype rpc uh love your answer ganesh so hype rpc why are you bullish on hyper liquid and i mean you guys are
are organizing a full IRL hackathon.
organizing a full irl hackathon so you must be bullish but tell me why
So you must be bullish, but tell me why.
So I'm totally fully aligned with what you said.
So I'm not going to rephrase,
but I think one of the most important thing
is like how this chain, how this project is fair.
There's no favor to someone or to any project,
meaning that everyone, every builder has their own chance.
Meaning that if you are
here in the ecosystem and your project is working nice, it's because you deserve it.
And this is what we like and what we would like to replicate.
And same as Ganesh, we have a lot of experience in crypto for years.
And I think this is something that we've never seen before.
You know, we always seen some shady behaviors,
some bribes or things happening in the background.
And here in Hyperliquid, everything is like, I'd say,
transparent and totally fair.
And this is what we like and why we want to give
most of our time on Hyperliquid.
Yeah, we love what we're doing.
That's why we are super active, both on technical,
you know, from technical to community.
Toast you were referring to LinkedIn before.
This is also part of the strategy where we don't just want to focus on the basic,
but want to do more because we're trusting the team,
we're trusting the project just because how fair it is.
And yeah, can't watch more on that
love it love it yeah i think the fact that it's very fair is important to all you know there's no there's no cousins no preferential treatment all right let me let me do like a quick recap
and then we'll go to closing words. So give Hype RPC
a follow right now. Give Ganesh
and Covalent a follow. Use their
products. Use the Gold Rush API.
There's bounties around RPCs.
There's bounties as well for
using the API.
The hackathon has begun.
We already have 202
registered participants.
250,000 in prizes.
Go to the Taikai Network website to sign up.
If you have questions, go to the Hyperliquid Discord.
We have the Builders channel over there.
Or you can DM us.
Anything else, Toast, in terms of things that I need to say?
I think you got all the
I think you got all the Shilly boilerplate stuff out.
chili boilerplate stuff out.
That's pretty good.
If anything, our X
account is
one of the sources of truth.
Follow links from the X account here.
As always, as Zerk said, please
follow our awesome sponsors
who made all this possible.
Hopefully, if
you have questions, comments,
you feel welcomed to DM us.
We get a ton of DMs.
We are just very busy because we got so much interest in this hackathon.
But we want your DMs.
We do care about it.
So keep on pinging us.
Keep on bugging us.
We will answer you.
We will connect you with teams.
We will connect you with builders.
We will connect you with API providers and tooling, workshops.
Just get in here. Get in our DMs, get in the builders chat.
Very excited to have all of you here.
Yeah, I love to see how the community is kind of growing.
You know, this is kind of the basis, the foundation of Web3.
Like people coming together to build this ecosystem out.
It's super cool, super refreshing to see.
Ganesh, then HypeRPC, any closing words to the audience?
Yeah, go build the future.
And thanks for everything that you guys are all doing.
Definitely appreciate that.
No, thank you.
Thank you to our sponsors,
HyperPC, Ganesh from Covalent,
Goldrush, and
thanks to my lovely co-host, Toast.
Toast, you want to close this out?
Sure, will do.
Thanks so much for coming, everybody.
Happy hacking. Let's
go Hyperliquid.
Not financial advice,
but I am long hype. LFG. Let's go hyper liquid. Not financial advice, but I am long hype.
LFG.
Let's fucking go.
All right.
Thanks, everybody.
Thanks for tuning in.
Enjoy the rest of your day.
