2026-01-09 22:28:09

Physical assets can now be traded on the chain. A new emerging protocol uses HyperEVM to bring luxury goods and virtual collectibles onto the chain as derivative assets, allowing users to establish long or short positions. The testnet performed impressively—daily trading volume exceeded $1 billion, attracting over 24,000 active users to participate.

The project team recently launched a funding round, aiming to raise $25 million, with a current valuation of $20 million. This innovative approach opens up new ideas for the marketization of illiquid assets and also brings a whole new asset category to derivative trading platforms. Whether this market demand can be truly activated depends on whether they can sustain user growth in the future.

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HypotheticalLiquidator

· 23h ago

$1 billion daily average? Testnet data is often inflated, and the proportion of real transactions is concerning. --- 24,000 active users can't support this scale; let's see if the health factor can stabilize after the mainnet launches. --- Using luxury goods on-chain to create derivatives is just an illusion of liquidity; leverage can trigger a chain of liquidations. --- Raising $25 million with a valuation of $20 million? This funding multiple... depends on how much genuine demand remains after deleveraging the trading volume. --- Tokenizing physical assets sounds appealing, but if risk control thresholds haven't kept up, it's a minefield. --- Non-liquid assets are inherently hard to price; adding derivatives turns them into a domino of systemic risk. --- A hot testnet = a dead mainnet; this pattern has been proven time and again. --- Once the liquidation price is triggered, it's a race to see who runs first.

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ContractCollector

· 01-12 11:48

$1 billion daily average? The testnet data is so eye-catching. Will the mainnet be a mess...

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SlowLearnerWang

· 01-12 11:06

It's the same story again. The testnet data looks ridiculously good, but once it goes live on the mainnet, it will definitely shrink... Let's wait and see if the funding goes through.

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RegenRestorer

· 01-09 23:12

10 billion dollars daily? Wait, is this data reliable? It's just a testnet.

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NervousFingers

· 01-09 22:57

This is the next narrative cycle. Bringing physical assets on the blockchain should have been done a long time ago. Why is it only now that someone is doing it?

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StableGenius

· 01-09 22:51

ngl, testnet numbers are always theater... wait till actual money floods in and watch the liquidity dry up faster than you can say "rug pull"

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GasFeeSobber

· 01-09 22:51

Daily trading volume of 1 billion? The testnet data looks so impressive, but I'm still a bit cautious. Let's wait for the mainnet.

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rekt_but_vibing

· 01-09 22:45

Daily average trading volume of 1 billion on the testnet? This number definitely warrants a question mark. If it can maintain half of that on the mainnet, that would be considered a win.

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TrustlessMaximalist

· 01-09 22:42

Hey, wait a minute. Is the data of 1 billion daily trading volume really true? Testnets are easy to brag about.

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SerRugResistant

· 01-09 22:42

Daily trading volume of 1 billion? Even the testnet is this impressive, the mainnet launch will definitely cause a plunge.

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