推文

@zkwifsats · 2026-10-10 21:09

To the Hyperliquid community, I'm not sure the algorithm will put this in front of you. If it did, hello. I'm ZK, and we're building OpenETF. OpenETF is an open, composable ETF layer on Hyperliquid. Anyone can create a fund without asking us: a basket of spot assets, a perps strategy, a market-neutral book. Investors hold its shares in their own wallets, as a token they can transfer. The manager trades the fund under public rules, but cannot withdraw its assets. That part is fairly simple to describe. What took us longer were the questions that come once someone else's money is inside. Building on HyperCore and HyperEVM changed how we answered them. Every order, fill and liquidation on HyperCore is public. Contracts on HyperEVM can hold assets and trade on that same order book. Anyone can build on it without asking. We have not worked on infrastructure this transparent and this composable before, and it has been more fun than we expected. It also sets a standard: if the venue is this open, a fund built on it should be too. Thank you to the team and the community who made it that way. A few things follow from that, and I think they are where we differ most from funds as they have worked so far. The share is a token in your own wallet, not a line in someone else's books. Ownership should not depend on whoever keeps the ledger, and you should be able to move what you own without asking anyone. A manager can trade the fund but cannot withdraw its assets. Many of the worst moments for investors have not come from bad trades. They have come from money going where it should not. So we separate the power to trade from the power to move money, and every trade through our execution service is checked before it is signed. We do not pick which funds get seen. Whoever decides what people see ends up steering where the money goes. We want a fund be found for what it has done, not because we chose it. The rest is in the piece below. We feel pretty settled on the principles. The details will keep changing as we learn. If something here would keep you from using it, now is the most useful time to tell me. Hyperliquid feels like open water. This is us calling out across it to anyone who might want to build, manage or invest here. If you run a vault, trade for a living, or build on HyperEVM, my DMs are open. If you'd rather ask a machine first, there is a prompt in the reply below. Thanks for reading.

曝光 578 · 评论 5 · 点赞 6 · 书签 2 · 曝光/时 165.74495760875016