USELESS exposure, ASPERN

⌘K

Live evidencecounted 3m ago

0.92days of PURR volume to unwind the crowd99%of the XMR book on one side, across 39 vaults$465.6Munder one key with no guardian — 12 of the 126 vaults whose control we have read$2.12Bwhose control we have never read, across 2,726 vaults$1.60Bsitting in vaults and not lent out$5.93Bunder 2,852 vaults we read1,782agent-managed, of 2,852 tracked191agent vaults scored, 11% of them478operators identified behind them24networks read, from Ethereum to Cardano3,763,110deposits and withdrawals read from chain93changes recorded in the last day524,154ERC-8004 agent registrations read+11.12/ 30 days329,479distinct owners behind those registrations188,532registrations carrying a readable card, 36%4,096,261agent tasks settled on the Olas rail−0.39/ 30 days71suppliers delivering that work404,028agent-to-agent jobs read on Base+0.4/ 30 days$1.0Msettled between agents, all time1,168suppliers listed on the ACP rail191agents live on Cardano74Cardano agents deregistered, 28% of all ever minted27,948open escrows between Cardano agents0.92days of PURR volume to unwind the crowd99%of the XMR book on one side, across 39 vaults$465.6Munder one key with no guardian — 12 of the 126 vaults whose control we have read$2.12Bwhose control we have never read, across 2,726 vaults$1.60Bsitting in vaults and not lent out$5.93Bunder 2,852 vaults we read1,782agent-managed, of 2,852 tracked191agent vaults scored, 11% of them478operators identified behind them24networks read, from Ethereum to Cardano3,763,110deposits and withdrawals read from chain93changes recorded in the last day524,154ERC-8004 agent registrations read+11.12/ 30 days329,479distinct owners behind those registrations188,532registrations carrying a readable card, 36%4,096,261agent tasks settled on the Olas rail−0.39/ 30 days71suppliers delivering that work404,028agent-to-agent jobs read on Base+0.4/ 30 days$1.0Msettled between agents, all time1,168suppliers listed on the ACP rail191agents live on Cardano74Cardano agents deregistered, 28% of all ever minted27,948open escrows between Cardano agents

Crowding

USELESSshared exposure

Every vault we can see holding USELESS right now, largest first. If the position is one-sided and material, these do not unwind one at a time, they unwind together, through the same liquidity.

← All instruments

Vaults

4 machine-managed

Gross

$38.0k

longs and shorts added

Net

−$2.0k

1 long · 3 short

Directional skew

100% = all one side

Venue open interest

$1.47M

USELESS equivalent

131,594

0.0132% of supply, as futures, not coins

Our coverage

2.58%

of open interest on hyperliquid

Which way the money leans

Roughly balanced, these vaults are largely offsetting each other.

Long$18.0k · 1 vault · 47%

Short$20.0k · 3 vaults · 53%

Who is holding it

100% of this exposure is machine-managed

Machine-managed$38.0k · 4 vaults · 100%

Human or unidentified$0.00 · 0 vaults · 0%

Machine-managed means we have evidence that software rather than a person decides, platform membership, execution timing, or both. Everything else sits in the second bar, including vaults that may well be automated but have not given us enough to say so.

Each block is one vault, sized by position. Hover for detail, click to open it. Bar widths are shares of the total we observe, not of the market, which is far larger.

Who holds it

#	Vault	Platform	Network	Operator	Autonomy	Side	Notional	Share	Entry	Unrealised	Leverage
1	HLP Strategy B0x31ca8395…974b	Hyperliquid	Hyperliquid	HLP	likely	long	$18.0k	47.4%	0.287447	-$312.80	20x
2	HLP Strategy A0x010461c1…703a	Hyperliquid