What Is STAMP

On August 27, the Hyperliquid Policy Center submitted a formal statement regarding the first meeting of the CFTC Innovation Advisory Committee held on August 20, proposing that perpetual contracts should become a core topic of the CFTC's innovation agenda. The Policy Center pointed out that the application of perpetual contracts is expanding from digital assets to traditional assets such as stocks and commodities, with a growing demand for such products in the U.S. market. Unlike traditional futures with expiration dates, perpetual contracts anchor the underlying price through funding rates and do not require month-end delivery; they can match the risk management needs of airlines hedging fuel costs, fund managers managing portfolio exposures, and AI companies hedging computing costs, all of which lack a clear expiration time. Data shows that perpetual contracts deployed by third-party developers on the Hyperliquid platform have covered over 80 traditional commodities and stock underlyings, with a cumulative nominal trading volume exceeding $500 billion. This year, the CFTC has continued to advance regulatory construction related to perpetual contracts: in May, it approved the first listed perpetual futures in the U.S., simultaneously releasing listing policy statements and continuous trading guidelines; in June, it publicly solicited opinions on energy commodity perpetual contracts and computing derivatives. The Hyperliquid Policy Center also proposed that public chain infrastructure could modernize the U.S. derivatives market under the existing regulatory framework: blockchain can publicly retain orders, positions, and market records, programmatically complete margin assessments, and facilitate real-time collateral transfers, reducing counterparty and settlement risks. The organization will continue to provide research materials and technical documents to the CFTC, promoting the establishment of a compliant access pathway for U.S. users to the on-chain derivatives market, stating that perpetual contracts are one of the most significant financial innovations of the past decade and should gain further development space in the U.S. market.

On August 27, according to monitoring by SolanaFloor, the Solana 'Double Deflation' proposal has reached quorum with 27 hours remaining before the voting ends. The current participation rate is 33.84%, with 25% of the votes in favor. If the proposal is ultimately approved, the inflation rate of SOL will be reduced to about half of its original rate, resulting in a deflation rate increase to 30%. Based on current estimates, the proposal is expected to reduce the issuance of SOL by approximately $1.47 billion over the next six years, involving about 18.9 million SOL.

The number of initial jobless claims in the U.S. last week was 203,000, compared to an estimate of 208,000.