RaaS #515: HIP-3 is Live on Hyperliquid!

China to Build a BNB Treasury Company, Strata Goes Live, and Moar!

HIP-3 goes live today on Hyperliquid, a key network upgrade enabling onchain deployers to launch perpetual markets directly through the protocol. While end users won’t see immediate changes, HIP-3 lays the groundwork for fully onchain perps.

China Renaissance is raising $600M to launch a BNB-denominated treasury company with YZi Labs. The bank is contributing $200 million to the project, and the remaining funds will be raised by outside investors.

Binance Wallet reported temporary display lags amid network congestion, briefly affecting users’ ability to view event interaction data. Core balances and functions remain untouched.

Are you also one of the unprofitable crypto traders?

Michael Saylor’s Strategy has added another 220 Bitcoin to its balance sheet, a $27.2M buy that reaffirms his unwavering conviction in BTC as a reserve asset. Even after years of volatility, Saylor’s playbook is the same.

StarPlatinum suggests Binance and Coinbase may have played a role in Friday’s market dump, citing onchain data, exchange notices, and timing around pricing updates for BNSOL and wBETH. The theory hinges on a four-day window opened by Binance’s October 6 announcement, just before volatility spiked.

Talus Labs is gaining mindshare on Kaito’s Prediction Market segment due to their prediction markets with Agent vs Agent (AvA) systems, where AI models trade against each other instead of humans.

Maybe the real Alt season was the friends we made along the way.

Solana’s Breakpoint conference is less than 60 days away, returning this December in Abu Dhabi. This year’s theme is revenue and returns that will include and highlight projects generating revenue on Solana.

Monad’s airdrop claim portal is only 1 day away. Here’s how you can prepare ↓

Dubai emerges as the world’s largest licensed virtual assets market. With this, they have added a new economic sector to the national economy. More countries will adopt similar methods to incorporate this new sector of the virtual assets market into their economies, too.

A source claimed to CoinDesk that Pete Davidson will star in a film about Satoshi Nakamoto. Yet to confirm which character he will be playing, but the community is not happy with this decision. We will be getting a film on Bitcoin before GTA6.

Hyperliquid founder Jeff called out centralized exchanges for underreporting liquidations by as much as 100x, claiming thousands can happen in a second, while only one is made public. The statement reignites debate around transparency in leveraged trading and the opacity of CEX data.

Top Gainers: BAS, SNX, NOCK, TAG, ALICE.

Strata by Ethena Labs has gone live on mainnet. The protocol offers scalable, composable structured products that let users fine-tune their risk and reward exposure, starting with Ethena’s USDe and expanding beyond.

Sam Kazemian clarified that Ethena’s USDe did not depeg, distinguishing between price divergence on secondary venues and the issuer’s redemption peg. He argued the peg is defined by an issuer’s ability to redeem $1 in an orderly manner, not by transient exchange prices.

Polkadot just hit over 1.2 million transfers in a single day, its busiest on record. Activity surged across parachains like Mythos, Phala, and Moonbeam, underscoring renewed momentum in the multichain network’s core vision of shared scalability.

That’s all for today, see you tomorrow!