# Пов'язані статті щодо Oracle

Центр новин HTX надає останні статті та поглиблений аналіз на тему "Oracle", що охоплює ринкові тренди, оновлення проєктів, технологічні розробки та регуляторну політику в криптоіндустрії.

Hyperliquid's "Stock Price" for ChangXin Memory Tech Hits $8.64: How Was This Price Determined Before the IPO?

Title: Hyperliquid's "Stock Price" for CXMT Hits $8.64: How is This Pre-IPO Price Determined? Summary: On Hyperliquid, a derivative contract tracking the pre-IPO value of Chinese chipmaker Changxin Xinqiao (CXMT) has been trading, with its price reaching $8.64. This price is not a real stock price or a direct IPO valuation, but the result of a specific market mechanism. Trade.xyz deployed this "Pre-IPO Perpetual" (IPOP) contract via Hyperliquid's HIP-3 framework. It tracks the expected USD value of one Changxin A-share post-listing. The contract started with an artificial "discretionary reference price" of $5 set by Trade.xyz. Subsequent trading prices are primarily determined by supply and demand on Hyperliquid's on-chain order book. Since there's no tradable现货 before the IPO, the contract price isn't forced to align with the official IPO price of 8.66 RMB (~$1.28). Key mechanics shape the price: 1. **Order Book-Driven**: The actual成交价 comes from limit orders matched on-chain. 2. **Internal Oracle & Smoothing**: An internal oracle, run by Trade.xyz, calculates a smoothed price based on the order book's "impact price" using a 30-minute exponential moving average (EWMA). This oracle price influences funding rates. 3. **Mark Price for Risk**: A separate Mark Price, derived from the median of the internal oracle and other inputs, is used for calculating profit/loss and liquidation. 4. **Discovery Bound (Price护栏)**: A 20% "Discovery Bound" limits how far the price can move from the current reference point. However, if the price hits the bound, the reference price can be re-anchored upward (or downward) up to 7 times. This explains the阶梯状 jumps to $6, $7.2, and $8.64. 5. **Low Funding Rate**: A minimal funding rate (0.005 multiplier) allows positions to be held with low cost before the IPO, but it provides a weak anchor. Post-IPO, the contract is expected to convert to a standard stock perpetual, with its oracle switching to the actual A-share price converted to USD. This transition could cause price jumps and potential liquidations if there's a significant gap between the pre-IPO contract price and the real market price. In essence, the $8.64 price is a composite of: a人为设定的起点 + on-chain order book supply/demand +内部 oracle 平滑 + low funding rate damping + a moving price护栏. It represents a collective bet by specific market participants on the future public market valuation, not the company's current or official IPO price.

marsbit07/17 05:55

Hyperliquid's "Stock Price" for ChangXin Memory Tech Hits $8.64: How Was This Price Determined Before the IPO?

marsbit07/17 05:55

Prices From the Future Fool the Oracle, Ostium Drained of $24 Million in Five Minutes

Ostium, a perpetual trading platform, suffered a security incident on July 15, resulting in significant losses from its public liquidity vault. Initial analyses from Blockaid, Cyvers, and PeckShield estimate losses of up to $24 million. The exploit occurred over a five-minute window. According to security firms, the core issue was not a missing signature, but a data integrity failure: a registered price oracle (PriceUpKeep) submitted authorized price reports with manipulated future timestamps, creating false trading profits. The protocol’s verification process confirmed the signatures as authorized but did not enforce price sanity checks or timestamp boundaries, allowing the manipulated data to be accepted for settlement. This caused the liquidity vault to pay out on these fraudulent profits. Ostium’s co-founder confirmed the team paused trading within an hour and is collaborating with law enforcement and security experts. The extracted funds were reportedly swapped for ETH, with a portion moved to Tornado Cash. The incident highlights risks in DeFi oracle designs where cryptographic signature verification is insufficient without additional safeguards for data validity, timestamp freshness, and price reasonableness. Ostium's response and planned fixes—including stricter timestamp validation, independent price checks, and circuit breakers—will be critical to preventing similar exploits.

marsbit07/17 05:33

Prices From the Future Fool the Oracle, Ostium Drained of $24 Million in Five Minutes

marsbit07/17 05:33

Not Betting on Goals but on 'Tears': Polymarket Users Argue Over Ronaldo's Final World Cup Match

Title: Beyond Goals, Betting on Tears: Polymarket Users Clash Over Ronaldo's Emotional World Cup Exit On July 6, Portugal's 0-1 loss to Spain in the World Cup round of 16 marked the final tournament for Cristiano Ronaldo. The 41-year-old star's emotional reaction—red eyes, wiping his face, fighting back tears—was captured globally. Concurrently, a fierce debate erupted on the crypto prediction platform Polymarket over a specific market: "Will Ronaldo cry during the 2026 FIFA World Cup?" The market, with over $23 million in volume, saw its "YES" probability surge to 99% after the match, but the result was disputed and entered a final review phase. The core conflict centered on the market's precise rules: it required "clearly visible tears streaming down [Ronaldo's] face" in photos/videos taken on the field or bench area during Portugal's matches. While major media outlets described Ronaldo as "in tears" and footage showed him emotional, "NO" bettors argued visible tear tracks were not conclusively evident, only red eyes and dampness. Polymarket's official clarification on July 8 stated that eligible evidence existed showing Ronaldo crying with visible tears on his face post-match. The dispute now goes to a UMA oracle community vote for resolution. This incident highlights a recurring challenge for prediction markets: they excel with quantifiable events but can spark major controversies over subjective, visual, or emotional interpretations. It also serves as a reminder for participants to scrutinize rule wording meticulously, not rely on general perception. Ultimately, such high-profile disputes drive significant trading volume and attention for the platform.

Foresight News07/08 02:11

Not Betting on Goals but on 'Tears': Polymarket Users Argue Over Ronaldo's Final World Cup Match

Foresight News07/08 02:11

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