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![1984_is_today Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1361833358456676355.png) TCB [@1984_is_today](/creator/twitter/1984_is_today) on x 66.3K followers
Created: 2025-07-23 19:10:51 UTC

Lastly : Hyperliquid did 400m in an orderbook, this volume would be way higher with the real amount of real users on Thorchain because it requires arbs rebalancing pools and double swaps instead of real time market maker.

Orderbooks is where it’s been. Most “swap volume” will eventually execute as twaps in orderbooks. It’s way more capital efficient.


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948098500635320667/c:line.svg)

**Related Topics**
[arbs](/topic/arbs)
[hyperliquid](/topic/hyperliquid)
[$xwp](/topic/$xwp)

[Post Link](https://x.com/1984_is_today/status/1948098500635320667)