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Flash

Bloomberg: Wintermute wins approximately 76% of the priority data auction for Hyperliquid

According to Bloomberg, the crypto market maker Wintermute has become the main user of Hyperliquid's priority data auction mechanism. This mechanism allows traders to bid for the right to view incoming buy and sell orders before they are processed by the exchange, giving them a few milliseconds to adjust their quotes or hedge on other platforms.Blockchain analytics platform Loris Tools found that in the past month, a wallet associated with Wintermute won about 76% of the highest priority data slot auctions.This mechanism has raised questions about whether it favors large trading firms. DRW founder Don Wilson previously questioned whether it is fairer than the server hosting mechanisms of traditional exchanges and whether it can meet U.S. regulatory requirements.The founder of Loris Tools believes that to fully leverage this speed advantage, direct connections to nodes operated by the Hyperliquid Foundation are necessary, and this access has trading volume and token staking requirements.Wintermute founder and CEO Evgeny Gaevoy stated that the auctions are more transparent than the low-latency networks and server hosting of traditional finance, and the company primarily uses this service for cryptocurrency trading. Hyperliquid Labs stated that anyone can participate in the bidding, and all priority fee payments are publicly recorded on-chain.

Solana tightens validator funding rules, with a participation period limited to 12 months

The Vice President of Technology at the Solana Foundation, Jacob Creech, responded to the controversy arising from the recent adjustments to the Solana Foundation Delegated Program (SFDP). The adjustments include: setting the participation period for validators in the SFDP to 12 months, automatic graduation after staking 300,000 SOL, capping the number of validators at 100, and requiring participants to run their own validator nodes.Jacob Creech stated that the SFDP originally had three main tasks: to help new validators get started, to establish a healthy testnet, and to allow some validators to test network updates early. As the Solana ecosystem expands and the validator community matures, the original mechanisms have struggled to adequately meet the ever-changing demands of the network. The foundation hopes to shift towards a more proactive and flexible delegation mechanism, focusing on supporting network health and ecosystem contributors. The SFDP will continue to support new validators, and the foundation will also reward validators who make significant contributions to network health through delegation outside of the program. Previously, the foundation had delegated staking to ecosystem contributors like Blueshift and supported validators who were the first to test Frankendancer.In response to community concerns that the adjustments might lead to a decrease in the number of validators, Jacob Creech stated that reducing the number of validators is not the goal of this adjustment. However, if enough high-quality contributors cannot be found, a decline in the number of validators may become a side effect. He also revealed that over 100 validators have submitted materials to apply for continued support.

Bitget ecosystem RWA protocol Reality has reached a strategic cooperation with Merkl to support rToken in obtaining dividend distribution in DeFi scenarios

According to official news from Bitget, the Bitget ecosystem tokenized U.S. stock protocol Reality has reached a strategic cooperation with the DeFi reward infrastructure Merkl. Both parties will use Merkl's reward forwarding function to identify the actual holders of rToken deployed in supported DeFi protocols. Users can still receive dividends in stablecoin form according to the rules, even if they use rToken for lending, liquidity pools, or staking in DeFi scenarios.Pablo Veyrat, CEO and co-founder of Merkl, stated that one major challenge facing DeFi assets is how to identify the actual holders behind each position. Merkl's reward forwarding technology can penetrate multiple layers of nested smart contracts to identify the underlying asset holding relationships, ensuring that dividends are accurately distributed to eligible holders.Gracy Chen, CEO of Bitget, stated that the value of tokenized stocks should not be limited to trading. Even if users invest rToken into DeFi applications, they should still be able to continue receiving eligible dividends. This cooperation with Merkl will jointly solve this problem, allowing tokenized stocks to play a greater role in everyday financial applications.According to a report from DeFiLlama, the cumulative trading volume of rToken reached $1.16 billion from June to July 2026; in July 2026, the number of users trading both crypto assets and rToken increased by 23.54% month-over-month. This cooperation will further promote the extension of rToken from trading scenarios to the DeFi ecosystem, enriching the on-chain application scenarios of tokenized stocks.
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