[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] #  @shaundadevens shaunda devens shaunda devens posts on X about perps, oracle, hyperliquid, flow the most. They currently have XXXXX followers and XXX posts still getting attention that total XXXXXX engagements in the last XX hours. ### Engagements: XXXXXX [#](/creator/twitter::1495765028452159492/interactions)  - X Week XXXXXX +71,853% - X Month XXXXXX +3,495% - X Months XXXXXXX +11% - X Year XXXXXXXXX +276% ### Mentions: XX [#](/creator/twitter::1495765028452159492/posts_active)  - X Week XX +1,000% - X Month XX +440% - X Months XXX +176% - X Year XXX +207% ### Followers: XXXXX [#](/creator/twitter::1495765028452159492/followers)  - X Week XXXXX +1.20% - X Month XXXXX +0.70% - X Months XXXXX +56% - X Year XXXXX +106% ### CreatorRank: XXXXXXX [#](/creator/twitter::1495765028452159492/influencer_rank)  ### Social Influence **Social category influence** [finance](/list/finance) #4986 [exchanges](/list/exchanges) #1254 [technology brands](/list/technology-brands) [cryptocurrencies](/list/cryptocurrencies) #6004 **Social topic influence** [perps](/topic/perps) #4, [oracle](/topic/oracle) #150, [hyperliquid](/topic/hyperliquid) #85, [flow](/topic/flow) #320, [at a](/topic/at-a) #987, [onchain](/topic/onchain) #499, [defi](/topic/defi) #41, [liquidity](/topic/liquidity) #600, [derivatives](/topic/derivatives) #65, [theta](/topic/theta) #5 **Top accounts mentioned or mentioned by** [@felixprotocol](/creator/undefined) [@hyperliquidx](/creator/undefined) [@blockworksres](/creator/undefined) [@rektfoodfarmer](/creator/undefined) [@louiscooper](/creator/undefined) [@defimaestro](/creator/undefined) [@drakeondigital](/creator/undefined) [@matrixthesun](/creator/undefined) [@hyperlendx](/creator/undefined) [@aave](/creator/undefined) [@defidami](/creator/undefined) [@dydx](/creator/undefined) [@intentx](/creator/undefined) [@gmxio](/creator/undefined) [@keyrocktrading](/creator/undefined) [@maplefinance](/creator/undefined) [@digitscapital](/creator/undefined) [@pearprotocol](/creator/undefined) [@0xwismerhill](/creator/undefined) [@du09btc](/creator/undefined) **Top assets mentioned** [Chainlink (LINK)](/topic/chainlink) [USDC (USDC)](/topic/usdc) [Solana (SOL)](/topic/solana) ### Top Social Posts Top posts by engagements in the last XX hours "3/ In contrast options are convex derivatives granting the right to buy/sell at a strike before expiry. Buyers pay an upfront premium for a non-linear path-dependent payoff where value decays over time (Theta). While designed for volatility trading retail uses them for directional leverage. This is structurally suboptimal: it forces traders to manage implied volatility and time decay when they simply want exposure to Price (Delta)" [X Link](https://x.com/shaundadevens/status/1998416729240981660) 2025-12-09T15:37Z 6535 followers, 1573 engagements "15/ Ostium manages LP risk through a hybrid B-book / A-book model rather than leaving all flow fully internalized. By default flow is B-booked against the onchain OLP vault with dynamic fees adjusting based on inventory and flow quality to keep mean-reverting retail-style flow internal. However the protocol A-books residual exposure into TradFi venues turning the pool into a hedged CFD book. Backtests and live data show this systematic hedging cuts VaR by roughly 90%" [X Link](https://x.com/shaundadevens/status/1998416918496288856) 2025-12-09T15:38Z 6535 followers, XXX engagements "1/ US options hit $89T notional in September dwarfing crypto futures ($1.2T). In SPX XX% of volume is 0DTE and retail is XX% of that flow bleeding out in toxic auctions and theta decay With incumbents blocked by regulation is DeFi the solution Breaking down Equity perps:" [X Link](https://x.com/shaundadevens/status/1998416698962215060) 2025-12-09T15:37Z 6535 followers, 63.9K engagements "2/ A Perpetual Future is a cash-settled delta-one derivative that replicates spot exposure with no expiry. Unlike options or dated futures price convergence is enforced economically via funding rates rather than a delivery date. This periodic value exchange incentivizes arbitrageurs to mechanically compress the basis whenever the mark detaches from the oracle" [X Link](https://x.com/shaundadevens/status/1998416712480485480) 2025-12-09T15:37Z 6535 followers, 1631 engagements "7/ While perpetuals serve as suitable alternatives US regulation blocks compliant equity perps via Dodd-Frank requirements that are incompatible with crypto's integrated stack. DeFi fills this vacuum via Reg S offshoring capturing the non-US market (80% APAC overnight flow) while proliferating into the US via decentralized frontends" [X Link](https://x.com/shaundadevens/status/1998416795221545142) 2025-12-09T15:37Z 6535 followers, 1006 engagements "8/ Can perps actually absorb this flow At a high level a perp contract specification only needs a mark and an oracle as with Hyperliquids HIP-3 design. However in practice bringing TradFi assets onchain forces three constraints: continuous oracles adequate liquidity and reliable hedging" [X Link](https://x.com/shaundadevens/status/1998416808551051542) 2025-12-09T15:37Z 6535 followers, XXX engagements "9/ Requirement One: continuous oracles. X. Regular hours: Chainlink Pyth and similar feeds deliver licensed equity prices during the cash session. X. Overnight: Blue Ocean ATS pricing fills the gap. It handles only about XXX% of consolidated volume yet explains roughly X% of daily price discovery (and about XX% for ETFs) with around two-thirds of moves persisting into the next close. Robinhoods overnight trading is built on this rail. X. Weekends: when external feeds are dark protocols switch to internal pricing. The mark anchors to an EMA of the internal orderbook anchored to Fridays close." [X Link](https://x.com/shaundadevens/status/1998416827035299861) 2025-12-09T15:37Z 6535 followers, 1461 engagements "10/ Requirement Two: Adequate exchange liquidity. X. Funding stability: carry costs come from the mark-to-oracle basis. Thin liquidity makes that basis volatile spiking funding and breaking the carry trade. X. Mark integrity: risk engines liquidate against the mark. In shallow books execution slippage can drag the mark away from the oracle so a market maker can be fully hedged on Nasdaq yet still be liquidated onchain purely because of local mispricing" [X Link](https://x.com/shaundadevens/status/1998416843321889049) 2025-12-09T15:37Z 6535 followers, XXX engagements "12/ With these three constraints in mind only a handful of designs even attempt equity perps at scale. Volume is already clustering on Hyperliquids HIP-3 orderbooks which cleared roughly $9.4B in equity perp volume over the last XX days with daily peaks above $1B by tapping into 880k cumulative users and builder-driven distribution. However Ostiums peer-to-pool model Vests integrated engine and Solanas spot-integrated xStocks pursue alternative ways to meet the same requirements" [X Link](https://x.com/shaundadevens/status/1998416872673542485) 2025-12-09T15:38Z 6535 followers, XXX engagements "13/ @OstiumLabs is a peer-to-pool perp DEX for RWAs (FX commodities indices and single-name equities) effectively an onchain CFD model. Traders face a protocol-owned pool rather than a CLOB executing directly at a TradFi oracle price with minimal slippage. In return they pay a small opening fee and a SOFR-anchored rollover rate (around XXX% plus premium) which is structurally cheaper than the volatile funding often seen on orderbook perps. Backed by a recent $20M Series A the venue has already processed more than $600M in peak weekly equity volume" [X Link](https://x.com/shaundadevens/status/1998416885315199092) 2025-12-09T15:38Z 6535 followers, XXX engagements "16/ On the orderbook side Hyperliquids HIP-3 reframes the exchange as infrastructure. Instead of listing every market itself Hyperliquid runs an auction-based system where external deployers win the right to list markets plug their oracle and mark parameters into HyperCore and keep XX% of fee revenue. Deployers inherit the same matching engine and risk stack across all markets which has enabled everything from trading cards to pre-IPOs with equity perps emerging as one of the strongest products" [X Link](https://x.com/shaundadevens/status/1998416934241718298) 2025-12-09T15:38Z 6535 followers, XXX engagements "17/ @tradexyz is the vertical integration of @unitxyz existing infrastructure dominance. Under HIP-2 Hyperliquid outsourced spot listings and Unit captured that layer by building custody and bridging rails for majors like UBTC and UETH turning itself into the default spot gateway. HIP-3 repeats the pattern on derivatives: by solving the listing and maintenance layer for equity perps on top of shared HyperCore infra Trade extends Units services into execution making it the natural incumbent rather than a new entrant" [X Link](https://x.com/shaundadevens/status/1998416950469529972) 2025-12-09T15:38Z 6535 followers, XXX engagements "18/ Building alongside Unit is @felixprotocol an integrated financial suite on HyperEVM that already shipped the ecosystems lending and CDP primitives. Felix leans into Hyperliquid alignment by quoting its equity markets in native USDH rather than USDC. Settling in USDH delivers structural fee advantages on Hyperliquid rails: XX% lower taker fees and XX% higher maker rebates plus tighter integration with the rest of the USDH-based stack" [X Link](https://x.com/shaundadevens/status/1998416963572478317) 2025-12-09T15:38Z 6535 followers, XXX engagements "20/ The mark is set using a median of multiple inputs and constrained inside predefined price bands. These bounding bands dont remove manipulation risk but they materially reduce the chance of liquidations by limiting how far the mark can move against a max-leverage position in illiquid weekend conditions when internal pricing is used" [X Link](https://x.com/shaundadevens/status/1998416996032290873) 2025-12-09T15:38Z 6535 followers, XXX engagements "21/ We tested HIP-3 liquidity via a microstructure study of Trade analyzing 79k orderbook snapshots. X. Spreads: Average quoted spreads around XXX bps significantly tighter than typical overnight equities where spreads are often above XX bps. X. Inversion: Pre-market spreads were 4055% tighter than during core hours. While execution quality is strong for a nascent venue depth beyond $100k notional remains thin so the market is not yet robust enough for consistent institutional flow" [X Link](https://x.com/shaundadevens/status/1998417012113215933) 2025-12-09T15:38Z 6535 followers, XXX engagements "11/ Requirement Three: Reliable hedging mechanisms. Unlike crypto-to-crypto perps equity perp hedges sit on TradFi rails for example hedging a Unit long with an E-mini S&P short. That creates structural frictions: X. Weekend delta gap: if the perp moves on Saturday the off-chain hedge is frozen forcing market makers to carry net delta until futures reopen. X. Collateral duration mismatch: crypto settles T+0 while banking rails settle T+1. In volatile markets a market maker can be solvent on a hedged basis but illiquid in practice unable to move fiat quickly enough to meet onchain margin calls" [X Link](https://x.com/shaundadevens/status/1998416855917273181) 2025-12-09T15:38Z 6535 followers, XXX engagements "23/ Even so there is room for architectures that do not rent HyperCore. @VestExchange is a primary example. By running its own integrated stack instead of bidding in HIP-3 auctions Vest competes on three structural pivots: unlimited markets since listings are not gated by daily auctions; bespoke fee schedules including zero-fee tiers; and a single coherent risk engine across all markets which allows tighter control of portfolio-level exposure" [X Link](https://x.com/shaundadevens/status/1998417039980146946) 2025-12-09T15:38Z 6535 followers, XXX engagements "22/ Overall HIP-3s real edge is distribution. New markets do not start from zero. They inherit immediate reach to 880k cumulative Hyperliquid users and plug into builder-driven funnels such as Phantom and Axiom which together have referred roughly 275k users directly from the wallet interface. Once a HIP-3 market is whitelisted on Hyperliquids main frontend it behaves functionally like a native listing from the users perspective collapsing the cold-start problem for new equity perps" [X Link](https://x.com/shaundadevens/status/1998417027271430410) 2025-12-09T15:38Z 6535 followers, XXX engagements "24/ Solana is in an unusual spot: Hyperliquid has stripped Solanas users via builder integrations in Phantom and Axiom Yet $150M of tokenized xStocks sit on Solanas spot layer. A Solana-native perp venue could plug these directly into its margin engine as both collateral and underlying with no bridging and much simpler integration than offchain equities" [X Link](https://x.com/shaundadevens/status/1998417056115630387) 2025-12-09T15:38Z 6535 followers, XXX engagements "1/ With $86T in monthly options volume equities represent one of the largest untapped markets for DeFi exchanges. Breaking down the economic opportunity of Equity Perps and what it means for @HyperliquidX revenues:" [X Link](https://x.com/shaundadevens/status/1998725538568151151) 2025-12-10T12:04Z 6535 followers, X engagements "2/ Aggregating OCC volumes November notional value was $86.4T: XX% single equities XX% indices. With crypto derivative volume at $1.6T/month (80% dominated by BTC/ETH) this represents a massive opportunity for expansion unconstrained by crypto's cyclical demand" [X Link](https://x.com/shaundadevens/status/1998725553403376070) 2025-12-10T12:04Z 6535 followers, X engagements
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
@shaundadevens shaunda devens
shaunda devens posts on X about perps, oracle, hyperliquid, flow the most. They currently have XXXXX followers and XXX posts still getting attention that total XXXXXX engagements in the last XX hours.
Engagements: XXXXXX #
- X Week XXXXXX +71,853%
- X Month XXXXXX +3,495%
- X Months XXXXXXX +11%
- X Year XXXXXXXXX +276%
Mentions: XX #
- X Week XX +1,000%
- X Month XX +440%
- X Months XXX +176%
- X Year XXX +207%
Followers: XXXXX #
- X Week XXXXX +1.20%
- X Month XXXXX +0.70%
- X Months XXXXX +56%
- X Year XXXXX +106%
CreatorRank: XXXXXXX #
Social Influence
Social category influence finance #4986 exchanges #1254 technology brands cryptocurrencies #6004
Social topic influence perps #4, oracle #150, hyperliquid #85, flow #320, at a #987, onchain #499, defi #41, liquidity #600, derivatives #65, theta #5
Top accounts mentioned or mentioned by @felixprotocol @hyperliquidx @blockworksres @rektfoodfarmer @louiscooper @defimaestro @drakeondigital @matrixthesun @hyperlendx @aave @defidami @dydx @intentx @gmxio @keyrocktrading @maplefinance @digitscapital @pearprotocol @0xwismerhill @du09btc
Top assets mentioned Chainlink (LINK) USDC (USDC) Solana (SOL)
Top Social Posts
Top posts by engagements in the last XX hours
"3/ In contrast options are convex derivatives granting the right to buy/sell at a strike before expiry. Buyers pay an upfront premium for a non-linear path-dependent payoff where value decays over time (Theta). While designed for volatility trading retail uses them for directional leverage. This is structurally suboptimal: it forces traders to manage implied volatility and time decay when they simply want exposure to Price (Delta)"
X Link 2025-12-09T15:37Z 6535 followers, 1573 engagements
"15/ Ostium manages LP risk through a hybrid B-book / A-book model rather than leaving all flow fully internalized. By default flow is B-booked against the onchain OLP vault with dynamic fees adjusting based on inventory and flow quality to keep mean-reverting retail-style flow internal. However the protocol A-books residual exposure into TradFi venues turning the pool into a hedged CFD book. Backtests and live data show this systematic hedging cuts VaR by roughly 90%"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"1/ US options hit $89T notional in September dwarfing crypto futures ($1.2T). In SPX XX% of volume is 0DTE and retail is XX% of that flow bleeding out in toxic auctions and theta decay With incumbents blocked by regulation is DeFi the solution Breaking down Equity perps:"
X Link 2025-12-09T15:37Z 6535 followers, 63.9K engagements
"2/ A Perpetual Future is a cash-settled delta-one derivative that replicates spot exposure with no expiry. Unlike options or dated futures price convergence is enforced economically via funding rates rather than a delivery date. This periodic value exchange incentivizes arbitrageurs to mechanically compress the basis whenever the mark detaches from the oracle"
X Link 2025-12-09T15:37Z 6535 followers, 1631 engagements
"7/ While perpetuals serve as suitable alternatives US regulation blocks compliant equity perps via Dodd-Frank requirements that are incompatible with crypto's integrated stack. DeFi fills this vacuum via Reg S offshoring capturing the non-US market (80% APAC overnight flow) while proliferating into the US via decentralized frontends"
X Link 2025-12-09T15:37Z 6535 followers, 1006 engagements
"8/ Can perps actually absorb this flow At a high level a perp contract specification only needs a mark and an oracle as with Hyperliquids HIP-3 design. However in practice bringing TradFi assets onchain forces three constraints: continuous oracles adequate liquidity and reliable hedging"
X Link 2025-12-09T15:37Z 6535 followers, XXX engagements
"9/ Requirement One: continuous oracles. X. Regular hours: Chainlink Pyth and similar feeds deliver licensed equity prices during the cash session. X. Overnight: Blue Ocean ATS pricing fills the gap. It handles only about XXX% of consolidated volume yet explains roughly X% of daily price discovery (and about XX% for ETFs) with around two-thirds of moves persisting into the next close. Robinhoods overnight trading is built on this rail. X. Weekends: when external feeds are dark protocols switch to internal pricing. The mark anchors to an EMA of the internal orderbook anchored to Fridays close."
X Link 2025-12-09T15:37Z 6535 followers, 1461 engagements
"10/ Requirement Two: Adequate exchange liquidity. X. Funding stability: carry costs come from the mark-to-oracle basis. Thin liquidity makes that basis volatile spiking funding and breaking the carry trade. X. Mark integrity: risk engines liquidate against the mark. In shallow books execution slippage can drag the mark away from the oracle so a market maker can be fully hedged on Nasdaq yet still be liquidated onchain purely because of local mispricing"
X Link 2025-12-09T15:37Z 6535 followers, XXX engagements
"12/ With these three constraints in mind only a handful of designs even attempt equity perps at scale. Volume is already clustering on Hyperliquids HIP-3 orderbooks which cleared roughly $9.4B in equity perp volume over the last XX days with daily peaks above $1B by tapping into 880k cumulative users and builder-driven distribution. However Ostiums peer-to-pool model Vests integrated engine and Solanas spot-integrated xStocks pursue alternative ways to meet the same requirements"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"13/ @OstiumLabs is a peer-to-pool perp DEX for RWAs (FX commodities indices and single-name equities) effectively an onchain CFD model. Traders face a protocol-owned pool rather than a CLOB executing directly at a TradFi oracle price with minimal slippage. In return they pay a small opening fee and a SOFR-anchored rollover rate (around XXX% plus premium) which is structurally cheaper than the volatile funding often seen on orderbook perps. Backed by a recent $20M Series A the venue has already processed more than $600M in peak weekly equity volume"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"16/ On the orderbook side Hyperliquids HIP-3 reframes the exchange as infrastructure. Instead of listing every market itself Hyperliquid runs an auction-based system where external deployers win the right to list markets plug their oracle and mark parameters into HyperCore and keep XX% of fee revenue. Deployers inherit the same matching engine and risk stack across all markets which has enabled everything from trading cards to pre-IPOs with equity perps emerging as one of the strongest products"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"17/ @tradexyz is the vertical integration of @unitxyz existing infrastructure dominance. Under HIP-2 Hyperliquid outsourced spot listings and Unit captured that layer by building custody and bridging rails for majors like UBTC and UETH turning itself into the default spot gateway. HIP-3 repeats the pattern on derivatives: by solving the listing and maintenance layer for equity perps on top of shared HyperCore infra Trade extends Units services into execution making it the natural incumbent rather than a new entrant"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"18/ Building alongside Unit is @felixprotocol an integrated financial suite on HyperEVM that already shipped the ecosystems lending and CDP primitives. Felix leans into Hyperliquid alignment by quoting its equity markets in native USDH rather than USDC. Settling in USDH delivers structural fee advantages on Hyperliquid rails: XX% lower taker fees and XX% higher maker rebates plus tighter integration with the rest of the USDH-based stack"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"20/ The mark is set using a median of multiple inputs and constrained inside predefined price bands. These bounding bands dont remove manipulation risk but they materially reduce the chance of liquidations by limiting how far the mark can move against a max-leverage position in illiquid weekend conditions when internal pricing is used"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"21/ We tested HIP-3 liquidity via a microstructure study of Trade analyzing 79k orderbook snapshots. X. Spreads: Average quoted spreads around XXX bps significantly tighter than typical overnight equities where spreads are often above XX bps. X. Inversion: Pre-market spreads were 4055% tighter than during core hours. While execution quality is strong for a nascent venue depth beyond $100k notional remains thin so the market is not yet robust enough for consistent institutional flow"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"11/ Requirement Three: Reliable hedging mechanisms. Unlike crypto-to-crypto perps equity perp hedges sit on TradFi rails for example hedging a Unit long with an E-mini S&P short. That creates structural frictions: X. Weekend delta gap: if the perp moves on Saturday the off-chain hedge is frozen forcing market makers to carry net delta until futures reopen. X. Collateral duration mismatch: crypto settles T+0 while banking rails settle T+1. In volatile markets a market maker can be solvent on a hedged basis but illiquid in practice unable to move fiat quickly enough to meet onchain margin calls"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"23/ Even so there is room for architectures that do not rent HyperCore. @VestExchange is a primary example. By running its own integrated stack instead of bidding in HIP-3 auctions Vest competes on three structural pivots: unlimited markets since listings are not gated by daily auctions; bespoke fee schedules including zero-fee tiers; and a single coherent risk engine across all markets which allows tighter control of portfolio-level exposure"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"22/ Overall HIP-3s real edge is distribution. New markets do not start from zero. They inherit immediate reach to 880k cumulative Hyperliquid users and plug into builder-driven funnels such as Phantom and Axiom which together have referred roughly 275k users directly from the wallet interface. Once a HIP-3 market is whitelisted on Hyperliquids main frontend it behaves functionally like a native listing from the users perspective collapsing the cold-start problem for new equity perps"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"24/ Solana is in an unusual spot: Hyperliquid has stripped Solanas users via builder integrations in Phantom and Axiom Yet $150M of tokenized xStocks sit on Solanas spot layer. A Solana-native perp venue could plug these directly into its margin engine as both collateral and underlying with no bridging and much simpler integration than offchain equities"
X Link 2025-12-09T15:38Z 6535 followers, XXX engagements
"1/ With $86T in monthly options volume equities represent one of the largest untapped markets for DeFi exchanges. Breaking down the economic opportunity of Equity Perps and what it means for @HyperliquidX revenues:"
X Link 2025-12-10T12:04Z 6535 followers, X engagements
"2/ Aggregating OCC volumes November notional value was $86.4T: XX% single equities XX% indices. With crypto derivative volume at $1.6T/month (80% dominated by BTC/ETH) this represents a massive opportunity for expansion unconstrained by crypto's cyclical demand"
X Link 2025-12-10T12:04Z 6535 followers, X engagements