Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
1,747 documents
The document describes HyperEVM as an Ethereum-compatible smart-contract layer associated with the Hyperliquid network. It presents deBridge as the route for transferring assets across chains and Bitget Wallet as an access point for interacting with that…
The document combines several indicators to describe Ethereum market conditions. It reports a funding rate of 6.1% per month, an eight-month high, and explains that in perpetual futures high positive funding means longs pay shorts. This can indicate crowded…
The document explains how decentralized exchanges use smart contracts to let users trade crypto from self-custodied wallets. It contrasts this model with centralized exchanges, which may offer easier onboarding and greater liquidity but require users to…
The document describes how large crypto traders may use multiple wallets to separate strategies, shifting between lower leverage in uncertain markets and higher leverage when pursuing larger gains. It also presents cross-market arbitrage as a way to trade…
The article describes DeriW, a decentralized perpetual exchange presented as using an Arbitrum Orbit Layer 3 network, optimistic rollups, and a custom WASM/Geth architecture. It claims the platform offers zero-gas-fee trading and throughput of 80,000…
The article explains Bitcoin downturns as the result of several interacting forces: macroeconomic conditions, leverage, regulation, on-chain activity, technical levels, market cycles, and investor sentiment. It describes how rising rates or a stronger dollar…
The article describes Aster as a decentralized perpetual futures exchange and highlights reported fee revenue, trading volume, and activity relative to Hyperliquid. It also presents the platform’s token buybacks and broad airdrop distributions as elements of…
The article discusses a large Bitcoin holder’s reported conversion of BTC into USDC and possible plans to reinvest in Ethereum or other assets. It outlines two common motives for moving into a stablecoin: reducing exposure to price swings and keeping funds…
The document summarizes announced leverage and margin tier adjustments followed by delistings for five USDT-margined perpetual contracts. It gives dates in May 2024 for the tier changes and the two groups of delistings. According to the account, traders…
The document introduces perpetual futures funding rates as indicators of the relative demand for long and short positions, then contrasts its account of ETH and BTC conditions. It describes elevated ETH funding as evidence of stronger long demand, while…
The document describes Hyperliquid’s HYPE token and presents the platform as a low-cost, fully on-chain trading venue. It discusses an on-chain order book, supply-reduction mechanisms, token buybacks, staking, governance, a native stablecoin, and access to…
The document introduces leveraged SOL trading, explaining that borrowed capital increases market exposure and magnifies both gains and losses. It describes SOL futures as a way to speculate on price changes without holding the token, and perpetual futures as…
This overview explains Hyperliquid’s decentralized exchange model, highlighting its custom Layer 1 chain and fully on-chain order book. It contrasts this design with automated market maker exchanges and describes the order book as enabling familiar order…
This overview compares spot crypto trading with derivatives, focusing on futures and options. Spot trading transfers ownership of the asset, while derivatives provide price exposure through contracts. The document describes futures as suited to directional…
The article profiles Axiom as a decentralized trading application, describing automated trading options, real-time market data, wallet and social activity trackers, and access to leveraged perpetual contracts through an integration. It also outlines a…
The document describes PUMP’s token sale, early trading, and Pump.fun’s positioning as a Web3 social platform. It reports that the sale allocates 33% of the stated one-trillion-token supply across private and public rounds, both priced at $0.004. It also…
The document outlines general features and trading considerations for STBL perpetual contracts. It explains that perpetuals have no expiration date and describes round-the-clock access and high leverage as features. It suggests stop-loss orders, conservative…
The article uses a reported Bitcoin short as a case study in leverage, margin buffers, liquidation risk, and trade execution. It explains that high leverage leaves positions vulnerable to small adverse price moves, and describes adding collateral as a way to…
The document explains two crypto arbitrage approaches: spread trading between spot and futures or between derivatives, and funding-rate trading that pairs a spot position with an opposing perpetual swap. It describes how opposing legs can offset much of the…
This article uses James Wynn’s reported trading losses to illustrate how leverage magnifies exposure to volatile crypto prices. It recounts positions as high as 40x, including a 10x PEPE trade, followed by nine consecutive liquidations and an account balance…
The article explains THENA’s ve(3,3) liquidity model on BNB Chain. Protocols can use a bribing marketplace to encourage veTHE holders to vote for particular pools, directing liquidity through competition among protocols. It also describes THENA as a venue…
The document explains cash-and-carry trades that pair a spot position with an equal and opposite futures position. In contango, the trader buys spot and shorts a higher-priced future, aiming to capture the price spread as it narrows toward settlement;…
The article surveys changes in decentralized trading in 2025, focusing on Ethereum’s Pectra upgrade, Hyperliquid’s perpetual market share, and waning Solana activity after a downturn in memecoins. It also discusses institutional adoption, regulatory clarity,…
The article discusses decentralized perpetual trading, emphasizing the transparency of a fully on-chain order book and contrasting it with automated market makers. It also describes risk controls for derivatives venues, including lower leverage limits,…