When we first introduced traditional asset perpetual futures, one of the main questions was how the instrument would achieve continuity when traditional markets were closed. Our answer included a critical safety framework we called Discovery Bounds. To realize the radical concept of 24/7 trading, we made an explicit trade-off: limit the extreme tails of price movement, and the range within becomes substantially more conducive to genuine price discovery. This trade-off has been vindicated. Weekend volume has been growing ~28% week-over-week, reaching an all-time weekend-volume high of ~$1 billion. Perhaps more importantly, we've seen a dramatic increase in directional correctness throughout these sessions - TradeXYZ's 24/7 perps are becoming the most accurate predictor of asset prices upon reopening of traditional markets. With more participants, deeper liquidity, and higher-signal price movements, we've reached a point where the static protections themselves have become the primary constraint on price discovery. The market has matured substantially. It was time to revisit the original trade-off. Discovery Bounds V2 is the natural evolution of the original design. It maintains active boundaries which prevent rapid swings in mark price, preserving the vital protective properties of the first iteration. But the bounds are no longer static - when trading persists at the edge of the active range, the oracle gradually converges toward that level. Once that persistence is strong enough, the active discovery range resets, allowing price discovery to continue in bounded steps as the market proves out new levels. Ultimately, this represents a historic shift in capital markets: on weekends, a persistent move with sustained activity on TradeXYZ is a more predictive measure of fair price than any datapoint available from traditional finance. Our long-term goal remains unchanged: 24/7 price discovery across global capital markets, independent of the assumptions and limitations of legacy market hours and traditional institutions. This is a meaningful step toward that future. Perpetual Renaissance

we are all in favor of open source code, but there's something frustrating about the x*y=k guy saying "its way past time" to open source hyperliquid. 100% of the data needed to reconstruct *exactly* what happened on HL on 10/10 is publicly available, today, for free, zero permissions required. one could argue this has never been true for any exchange in the history of finance. but the people too lazy to index the block files sit with their legs up and make silly demands from those who have contributed the most to the frontier of defi

The mission @tradexyz is to accelerate the future of 24/7 liquid capital markets, a future we believe is both exciting and inevitable. To achieve this, we’ve meticulously designed and introduced the Perpetual Equity Future: a novel financial derivative enabling 24/7 price discovery in the world’s premier asset class. Major milestones - Users have traded over $1 billion in equities volume in the past week alone. - This morning’s AAPL listing marked the completion of Trade[XYZ]’s first set of equities markets. - Seamless trading through NVDA earnings event, including significant volume into the overnight session Today we continue to iterate as we upgrade our oracle mechanism to further facilitate real-time price discovery beyond traditional trading hours. We appreciate all those who share our vision, and look forward to hearing your feedback as we continue on a journey which has only just started. Perpetual Renaissance