[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.] [@0x_Spade](/creator/twitter/0x_Spade) "You know what's even crazier In its final phase BAM's code will be open-sourced. In other words BAM guarantees: Speed Execution Real-time price feeds Privacy This levels the playing field of DEX perps dramatically especially since once Hyperliquid's incentive advantage is taken out of the way the rest comes down to pure execution ability. It will be interesting to see how this develops"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948485012631728594) 2025-07-24 20:46:42 UTC XXX followers, XX engagements "= So how exactly does @jito_sol's BAM update flip the script Jito's BAM is an update that revolutionizes how transactions are processed on Solana introducing core upgrades like: Privacy via TEEs Verifiability Programmability. How does this affect perp DEXs I'll break it down"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484990699761721) 2025-07-24 20:46:37 UTC XXX followers, XX engagements "The question is: "How has Hyperliquid managed to remain so dominant" I think it comes down to three key things:"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484964917400002) 2025-07-24 20:46:31 UTC XXX followers, XX engagements "Coingecko's Q2 2025 review piece reports that @HyperliquidX currently holds XXXX% of the total volume captured by perp DEXs. In fact since January 2025 Hyperliquid has retained a 60%+ market dominance over every other DEX perp Mind you this is a market sector with other giants like Jupiter Aster GMX RabbitX and dYdX"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484960861528230) 2025-07-24 20:46:30 UTC XXX followers, XX engagements "Perp trading has become more popular than spot trading. @coingecko reports that the total spot trading volume on the top XX CEXs for the past X months hasn't exceeded $2T. Meanwhile perp trading on centralized exchanges hasn't gone below $5.9T over the past X months"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484944575021387) 2025-07-24 20:46:26 UTC XXX followers, XX engagements "/3. Incentives: One of the core reasons why Hyperliquid's dominance is high is because of incentives. The project still has XXXXXX% of its total $HYPE token allocated to future incentives. Considering that the first $HYPE was crazy it's easy to see why people ar frantically using the platform to ensure they're eligibile for any future drops"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484984144076989) 2025-07-24 20:46:35 UTC XXX followers, XX engagements "/1. Speed & Execution BAM is built on Solana's already fast blockchain infrastructure granting it incredible speed. But it doesn't stop there BAM also makes it possible for plugins to prioritize cancel-replace workflows (like high-frequency trading on Nasdaq) meaning perp DEXs will have: Low-latency order book updates More efficient inventory balancing Tighter spreads and deeper liquidity from makers. In other words better execution BAM also allows plugins to update oracle prices in the same block as a user trade meaning pricing will be super-precise"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484997653881210) 2025-07-24 20:46:39 UTC XXX followers, XX engagements "For those wondering "Why trade perps on @phantom" the questions is: why not Coingecko's Q2 2025 report highlights that liquidity is flowing out of CEXs directly into DEXs. Spot trading volume on centralized exchanges is going down while the same metric on DEX is rising. In addition to this perp trading volume on decentralized exchanges is also picking up with a new ATH of $898Bn in Q2 2025. Possible implications of this X. We're likely to see more DEXs launch perp support in a bid to capture a share of the volume flowing into this niche. X. We could see CEXs launch DEXs powered by already"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948056870158995948) 2025-07-23 16:25:25 UTC XXX followers, XXX engagements "This makes sense since with the crazy leverage perp offer you can make huge amounts of money with just small price movements. That said the data shows something really interesting is happening on the DEX perp trading scene"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484955790573893) 2025-07-24 20:46:29 UTC XXX followers, XX engagements "Okay so I may have fumbled by missing out on @solanaturbine Q3 I miss the really valuable convos mehn"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948518855422447868) 2025-07-24 23:01:11 UTC XXX followers, XX engagements "3. Programmability This is the biggest disruption @jito_sol is introducing with its BAM update. The programmability factor here means that any DEX perp protocol can directly integrate and leverage BAM for better execution and results. BAM even allows developers to build custom execution logic and plug it directly into Solana"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948485008093516158) 2025-07-24 20:46:41 UTC XXX followers, XX engagements "/1. Performance: Hyperliquid operates its own L1 blockchain specifically designed for low latency and high throughput. Two VERY important things you need for perps trading"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484968759362042) 2025-07-24 20:46:32 UTC XXX followers, XX engagements "/2. Privacy Hyperliquid uses a fully on-chain central limit order book (CLOB) that ensures greater transparency. Everything all transactions cancellations and liquidations are verifiable on-chain. But this also means stop hunts and targeted liquidations (which have happened a number of times on Hyperliquid). Many people want a private high-performance perp trading environment. Jito's BAM makes that happen With BAM transactions are kept private in TEEs until execution. This prevents issues like frontrunning protecting order intent and MEV attacks In summary BAM = performance + privacy"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948485002443784279) 2025-07-24 20:46:40 UTC XXX followers, XX engagements "@Zer0PulseFi Has to be the AI I want to see how smart it is fr"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1947925409766768881) 2025-07-23 07:43:03 UTC XXX followers, XX engagements "/ X. Liquidity depth: Hyperliquid's HLP Vault system rivals that of centralized exchanges like Binance. In the past XX hours Hyperliquid has processed $14bn+ in volume according to @DefiLlama Binance ($32.4Bn) is the only CEX to have had more"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484975176585492) 2025-07-24 20:46:33 UTC XXX followers, XX engagements "Hyperliquid controls the DEX perp trading sector with a market share of 72%+ But all this may be about to change @jito_sol's newly-released Block Assembly Marketplace (BAM) update has huge implications for decentralized perps trading. Here's my thesis on that👇🏽 🧵"  [@0x_Spade](/creator/x/0x_Spade) on [X](/post/tweet/1948484938518458793) 2025-07-24 20:46:25 UTC XXX followers, XXX 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.]
@0x_Spade
"You know what's even crazier In its final phase BAM's code will be open-sourced. In other words BAM guarantees: Speed Execution Real-time price feeds Privacy This levels the playing field of DEX perps dramatically especially since once Hyperliquid's incentive advantage is taken out of the way the rest comes down to pure execution ability. It will be interesting to see how this develops"
@0x_Spade on X 2025-07-24 20:46:42 UTC XXX followers, XX engagements
"= So how exactly does @jito_sol's BAM update flip the script Jito's BAM is an update that revolutionizes how transactions are processed on Solana introducing core upgrades like: Privacy via TEEs Verifiability Programmability. How does this affect perp DEXs I'll break it down" @0x_Spade on X 2025-07-24 20:46:37 UTC XXX followers, XX engagements
"The question is: "How has Hyperliquid managed to remain so dominant" I think it comes down to three key things:" @0x_Spade on X 2025-07-24 20:46:31 UTC XXX followers, XX engagements
"Coingecko's Q2 2025 review piece reports that @HyperliquidX currently holds XXXX% of the total volume captured by perp DEXs. In fact since January 2025 Hyperliquid has retained a 60%+ market dominance over every other DEX perp Mind you this is a market sector with other giants like Jupiter Aster GMX RabbitX and dYdX" @0x_Spade on X 2025-07-24 20:46:30 UTC XXX followers, XX engagements
"Perp trading has become more popular than spot trading. @coingecko reports that the total spot trading volume on the top XX CEXs for the past X months hasn't exceeded $2T. Meanwhile perp trading on centralized exchanges hasn't gone below $5.9T over the past X months" @0x_Spade on X 2025-07-24 20:46:26 UTC XXX followers, XX engagements
"/3. Incentives: One of the core reasons why Hyperliquid's dominance is high is because of incentives. The project still has XXXXXX% of its total $HYPE token allocated to future incentives. Considering that the first $HYPE was crazy it's easy to see why people ar frantically using the platform to ensure they're eligibile for any future drops" @0x_Spade on X 2025-07-24 20:46:35 UTC XXX followers, XX engagements
"/1. Speed & Execution BAM is built on Solana's already fast blockchain infrastructure granting it incredible speed. But it doesn't stop there BAM also makes it possible for plugins to prioritize cancel-replace workflows (like high-frequency trading on Nasdaq) meaning perp DEXs will have: Low-latency order book updates More efficient inventory balancing Tighter spreads and deeper liquidity from makers. In other words better execution BAM also allows plugins to update oracle prices in the same block as a user trade meaning pricing will be super-precise" @0x_Spade on X 2025-07-24 20:46:39 UTC XXX followers, XX engagements
"For those wondering "Why trade perps on @phantom" the questions is: why not Coingecko's Q2 2025 report highlights that liquidity is flowing out of CEXs directly into DEXs. Spot trading volume on centralized exchanges is going down while the same metric on DEX is rising. In addition to this perp trading volume on decentralized exchanges is also picking up with a new ATH of $898Bn in Q2 2025. Possible implications of this X. We're likely to see more DEXs launch perp support in a bid to capture a share of the volume flowing into this niche. X. We could see CEXs launch DEXs powered by already" @0x_Spade on X 2025-07-23 16:25:25 UTC XXX followers, XXX engagements
"This makes sense since with the crazy leverage perp offer you can make huge amounts of money with just small price movements. That said the data shows something really interesting is happening on the DEX perp trading scene" @0x_Spade on X 2025-07-24 20:46:29 UTC XXX followers, XX engagements
"Okay so I may have fumbled by missing out on @solanaturbine Q3 I miss the really valuable convos mehn" @0x_Spade on X 2025-07-24 23:01:11 UTC XXX followers, XX engagements
"3. Programmability This is the biggest disruption @jito_sol is introducing with its BAM update. The programmability factor here means that any DEX perp protocol can directly integrate and leverage BAM for better execution and results. BAM even allows developers to build custom execution logic and plug it directly into Solana" @0x_Spade on X 2025-07-24 20:46:41 UTC XXX followers, XX engagements
"/1. Performance: Hyperliquid operates its own L1 blockchain specifically designed for low latency and high throughput. Two VERY important things you need for perps trading" @0x_Spade on X 2025-07-24 20:46:32 UTC XXX followers, XX engagements
"/2. Privacy Hyperliquid uses a fully on-chain central limit order book (CLOB) that ensures greater transparency. Everything all transactions cancellations and liquidations are verifiable on-chain. But this also means stop hunts and targeted liquidations (which have happened a number of times on Hyperliquid). Many people want a private high-performance perp trading environment. Jito's BAM makes that happen With BAM transactions are kept private in TEEs until execution. This prevents issues like frontrunning protecting order intent and MEV attacks In summary BAM = performance + privacy" @0x_Spade on X 2025-07-24 20:46:40 UTC XXX followers, XX engagements
"@Zer0PulseFi Has to be the AI I want to see how smart it is fr" @0x_Spade on X 2025-07-23 07:43:03 UTC XXX followers, XX engagements
"/ X. Liquidity depth: Hyperliquid's HLP Vault system rivals that of centralized exchanges like Binance. In the past XX hours Hyperliquid has processed $14bn+ in volume according to @DefiLlama Binance ($32.4Bn) is the only CEX to have had more" @0x_Spade on X 2025-07-24 20:46:33 UTC XXX followers, XX engagements
"Hyperliquid controls the DEX perp trading sector with a market share of 72%+ But all this may be about to change @jito_sol's newly-released Block Assembly Marketplace (BAM) update has huge implications for decentralized perps trading. Here's my thesis on that👇🏽 🧵" @0x_Spade on X 2025-07-24 20:46:25 UTC XXX followers, XXX engagements