Help shape Events by trade[XYZ]. Join our group to suggest new events, share feedback, and tell us what markets you want to see: https://t.me/eventsbyxyz

Introducing Events by trade[XYZ]. With Events, we’re advancing our vision of Hyperliquid as the universal exchange—a single, composable system for trading financial assets and real-world outcomes. A user can deposit spot BTC, borrow USDC through portfolio margin, open a pre-ipo SpaceX perp position, hedge an upcoming SK Hynix earnings event with an events market, and pick the US Open winner—all from a single unified account on trade[XYZ]. Events will span sports, politics, economics, and financial markets, with an expanding range of categories and contract formats. Our initial Up/Down markets cover equities, commodities, and pre-IPOs, powered by the depth and liquidity of trade[XYZ] perpetuals on HIP-3. These perpetuals provide continuous price discovery and serve as the resolution source, so each contract is grounded in XYZ's liquid market prices rather than an external oracle.

BitMine Immersion Technologies, Inc. () is now live. 10x leverage, 24/7, 365.

has transitioned to a standard XYZ perpetual. 10x leverage, 24/7, 365.

Our joint comment letter with @HyperliquidPC asks the @CFTC to open a regulated U.S. path for energy perpetuals and 24/7 trading. During this year’s oil shocks, our energy markets stayed open while benchmark markets were closed. They gave the world a live price as events unfolded. On many weekends, trade[XYZ] was the primary venue for price discovery. The events that shape our global economy rarely wait for markets to open. 24/7 markets are a natural evolution for a global economy in constant flux. The U.S. has an opportunity to lead by giving perpetuals a clear and credible regulatory home.

State Street SPDR S&P Biotech ETF () is now live. 10x leverage, 24/7, 365.

The Pre-IPO Perpetual (IPOP) Market for is now live. is a pre-IPO market reflecting the market-implied expected price per Class B ordinary share of Global Holdings Limited, expected to list on HKEX (code 0625). is an online fashion and lifestyle retailer selling own-brand apparel and third-party marketplace products. After the IPO, the oracle will convert the HKD share price to USD at the prevailing USD/HKD FX rate.

Moderna () is now live. 10x leverage, 24/7, 365.

Parameter updates following this transition: Max leverage: 10x Funding multiplier: 0.5x Discovery bound range: 20% Discovery bound resets: 2 For more information, see our docs: https://docs.trade.xyz/consolidated-resources/specification-index

has transitioned to a standard XYZ perpetual. 10x leverage, 24/7, 365.

Crowdstrike () is now live. 10x leverage, 24/7, 365.

Cloudflare () is now live. 10x leverage, 24/7, 365.

Roundhill's Magnificent Seven ETF () is now live. 10x leverage, 24/7, 365.

Reddit is now live. 10x leverage, 24/7, 365.

is now live. 10x leverage, 24/7, 365.

Capital markets thrive when price discovery is open and continuous. Hyperliquid was built for both. Our joint letter with @HyperliquidPC explains how pre-IPO perpetuals can complement the IPO process and support more informed capital formation.

is now live. 10x leverage, 24/7, 365.

Roundhill's Neocloud ETF () is now live. 10x leverage, 24/7, 365.

is now live. 10x leverage, 24/7, 365.

Roundhill Photonics & Optics ETF () is now live. 10x leverage, 24/7, 365.

GE Vernova is now live. 10x leverage, 24/7, 365.

is now live. 10x leverage, 24/7, 365.

The Pre-IPO Perpetual (IPOP) Market for is now live. is a pre-IPO market reflecting the market-implied expected price per A-share of Unitree Technology Co., Ltd., expected to list on the Shanghai STAR Market (code 688836). Unitree designs and manufactures quadruped and humanoid robots and robotic arms. After the IPO, the oracle will convert the CNY share price to USD at the prevailing offshore USD/CNH rate.

Distributions for the July 27 SKHYNIX pricing event have gone out. Each eligible liquidation was measured against a reference price of $1,115.5. Where the resulting amount is under 10,000 USDC, wallets have been credited in full, and no action is needed. Where it exceeds 10,000 USDC, an initial 9,999 USDC has been credited. We are required to conduct enhanced due diligence for amounts in excess of 10,000 USDC. Please reach us through support at http://app.trade.xyz/support to complete this process before August 15. Thank you to our users for their patience this week.

Kioxia (TSE: 285A) and SoftBank Group (TSE: 9984) are halted limit-up on the Tokyo Stock Exchange. GigaDevice (SSE: 603986) has likewise encountered limit-up conditions in today's Shanghai session. XYZ markets for these assets have transitioned to internal pricing until their respective underlying exchanges reopen following the weekend - Kioxia and SoftBank with two discovery bound resets, GigaDevice with one. Discovery bounds remain unchanged at 10%. For more information on internal pricing mechanics, refer to our documentation.

Trade[XYZ] reached new all-time highs with $8.1B in 24h volume.

On July 27 at 23:01 UTC, SKHYNIX mark price dropped from $1,127.9 to $917.25. This print was based on an executed trade which was relayed by multiple independent data providers. The XYZ oracle was live in external pricing and tracking that venue, which serves as the primary Korean pre-market venue. The oracle system worked as intended according to its specification. While the system performed as designed, users are understandably upset about liquidations that were triggered. Market integrity is among Trade[XYZ]'s core values, and we understand the trust of our users has been, and will continue to be, earned. With these values in mind, we have decided to cover liquidation losses attributable to this anomaly. Eligibility requirements will be conveyed soon, and distributions are anticipated to be completed in the coming days. This is a one-time discretionary decision and is not a guarantee of similar future action. Going forward, our pricing systems will be further improved to handle tail events. We are accelerating our review of how prices are formed, including revisiting assumptions on external venues, and taking into consideration the price formation which occurs on our own orderbooks, which carry increasingly meaningful depth and signal in relation to external sources. We will share further information soon.

@tradexyz reached new all time highs across the board: - Cumulative trading volume: $408.4B - Cumulative weekend trading volume: $26.07B - 24hr peak volume: $5.6B - Open interest: $3.9B - Daily unique traders (24hr peak): 60.6k

has transitioned to a standard XYZ perpetual. 10x leverage, 24/7, 365.

is expected to IPO on the Shanghai STAR Board on July 27. The perpetual market's discovery bounds will adjust to 50% on July 26 11PM UTC in anticipation of this event.