Hyperliquid Testnet Phase 1 Launches with Standard Margin and Mobile-First Options Trading

**Historic Trading Opportunity Arrives** Mainnet launches next week, enabling trading of $SPCX options - the first tradeable pre-IPO options in history. **Key Details:** - Trade calls and puts on SpaceX before public listing - All options expire at June 12 IPO date - Platform already live on testnet - First-ever opportunity to trade options on a company before shares hit public exchanges This represents a new financial instrument allowing speculation on SpaceX valuation ahead of its anticipated public debut.

A new Retail Price Improvement feature is now operational, introducing a competitive auction system for single-leg orders. **How it works:** - Every order enters a 2-second auction period - Market makers compete to offer better prices than the current orderbook - If no improvement is offered, orders execute at your specified limit price - Execution is guaranteed regardless of auction outcome **Additional mechanics:** - The system continuously monitors best bid/ask prices every second - Order prices update automatically based on market conditions - Orders remain active until filled, manually cancelled, or reach preset safety boundaries This mechanism aims to provide better execution prices for retail traders through competitive market maker participation.

Trollbox has launched its desktop application with full Telegram integration. **Key Features:** - Real-time bidirectional chat sync between desktop and Telegram - Messages, replies, reactions, media, and GIFs sync seamlessly - Command cards work across both platforms - Simple account linking with a single code The integration allows users to participate in conversations from either platform while maintaining full functionality. All interactions are mirrored in real-time, creating a unified chat experience regardless of which platform users prefer.

Synapse Protocol released a major update consolidating three weeks of development work: **Key Features:** - **SpaceX pre-IPO options** now available for trading - Full **strategy builder** tool for complex positions - **Desktop chat** integration with Telegram bridge - Redesigned order form interface - Mainnet preparation underway The update follows their recent trading competition launch and improvements to the options chain and margining system.

The April Trading Competition on Hypercall's testnet concludes May 1, with $1,000 in SYN tokens up for grabs. **Competition Highlights:** - TurboLongSyn currently leads with +$904K profit - Achieved on just $54K trading volume - 16.9x efficiency ratio **What's Next:** - Whitelisted mainnet launch scheduled for early May - No real money at risk during testnet phase - Full leaderboard and results available at [testnet.hypercall.xyz](http://testnet.hypercall.xyz) Participants can view detailed rankings and an animated rank race on the [official blog](http://blog.hypercall.xyz/product-update-week-4-of-testnet/).