RaaS #520: HIP‐3 Could Redefine the Perp DEX Landscape!

BitMine Holds More ETH Than All L2, AWS Outage Affects “Decentralized” Crypto, and Moar!

This week is stacked: LayerZero, Scroll, Stellar, and Plasma unlocks; TGEs from Meteora, BluwhaleAI, and HyperSwap; major votes and launches across Lido, dYdX, Forte, and Stellar. All while macro drops CPI, GDP, and euro digitalization signals.

AWS went down, taking half the internet (and much of crypto) with it. Coinbase, Binance, Crypto(.)com, and wallets all went dark. The irony? Crypto preaches decentralization, but 90% of it runs on one cloud provider.

PolyScalping is a new tool built for Polymarket traders that scans over 10,000 markets for real-time arbitrage and scalping opportunities. It scans every 60 seconds, applies advanced filters, and triggers instant alerts, built to help scalpers catch an edge in high-liquidity markets.

Wash, don’t wipe.

Ethena’s PTs, USDe and sUSDe, are now live on Aave’s Plasma instance with $200M market capacity each. At ~4% USDT borrow rates, Plasma becomes the go-to venue for leveraged PT exposure.

Olympus allocated $10M from its treasury into sUSDe following a governance vote, aiming to diversify backing with yield-bearing assets. This deepens Olympus’ collaboration with Ethena to promote transparency and long-term sustainability in DeFi.

Your daily dose of bite-sized news to stay updated.

1. Anatoly is building a Perp DEX on Solana called Percolator, per GitHub.

2. BitMine’s treasury now holds more ETH than most L2s combined. 3.24M ETH, $1.34B total, and they’re still buying.

3. Jupiter becomes Solana’s #2 validator and updates Perp fees to reward trades that reduce OI imbalance.

4. Binance bans over 600 accounts for using unauthorized third-party tools like unapproved bots, scripts, and shared APIs.

5. Solana hits its highest TVL in SOL terms in 3+ years.

6. The U.S. Federal Reserve is hosting a payments innovation conference on Oct 21, with leaders from Chainlink, Circle, Coinbase, and Paxos speaking.

Shiv reflected on how he built wealth and reputation during the 2023 downturn by leaning into content, daily spaces, and aggressive trading while others pulled back. His core message: market fear breeds opportunity, and stepping up early is how you build relevance.

ELI5 please.

Top Gainers: 币安人生, 哈基米, AUCTION, BC, BIO.

HIP-3 could reshape Hyperliquid, and Sam’s thesis might frame the protocol’s future against rising CLOB competition and ADL backlash.

High-signal reads are worth your time, all in one place.

1. Consistent quality posting earns smart followers and Yaps. 10–20 posts/day, quote RTs, and testing products attract high-rep accounts.

2. Flying Tulip rebooted DeFi with a full-stack system for trading, lending, perps, and a native stablecoin. It replaces fragmented design with oracleless pricing, adaptive AMMs, and risk-aware lending.

3. Vitalik introduces GKR: a fast, recursive ZK proof protocol optimized for hashing and neural net workloads. GKR boosts ZK-EVM and zk-ML efficiency by proving only inputs and outputs, skipping intermediate layers.

4. Prediction markets are entering their DEX aggregator moment. Volume is real, fragmentation is rising, and institutional demand is bottlenecked by tooling.

5. Prediction markets offer more reliable returns than memecoins. $100 can be used to find mispriced bets in PMs, while Pumpfun relies on hype with a 98.6% rug rate.

Polychain led a $110M round to bootstrap Berachain’s crypto treasury, with half of the BERA tokens acquired on the open market. The initiative, executed via a PIPE deal with Nasdaq-listed Greenlane, marks one of the largest token treasury bets of the year amid BERA trading near ATL.

Limitless earned trust by taking a rare, principled stance against Binance, something few dare to do. Then they burned it for a fake headline. If you’re going to go against the grain, don’t fold when it matters.

That’s all for today!