Valhalla
Last updated
Last updated
Valhalla is building the first fully on-chain and composable trading platform on MegaETH, combining perps, spot trading, and lending in a single platform. Their mission: "Trade to own" - creating a community-driven exchange where users become genuine stakeholders.
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Tiago () brings deep crypto experience spanning over a decade:
Early crypto adopter - First interactions in 2012/2013, learning Bitcoin fundamentals
Technical expertise - Background in software engineering with focus on formal verification
Proven builder - Founded Three Sigma (), scaling from 0 to 50 people without external funding
Battle-tested trader - Active participant since 2017/2018, experienced the full spectrum of crypto markets
Industry veteran - Extensive work with L1s, L2s, DeFi protocols, conducting audits and risk modeling
Tiago's vision centers on building products people genuinely want to use, moving beyond theoretical DeFi toward practical, user-friendly infrastructure. |
Valhalla follows the user-first tokenomics model pioneered by projects like Hyperliquid, prioritizing community ownership over traditional VC-heavy structures. They recently secured $1.5M in pre-seed funding () while maintaining their community-focused approach.
Key Community Initiatives:
Fluffle NFT integration - Leveraging MegaETH's 5,000+ Fluffle holders as core user base
Community-driven development - Direct feedback loops shaping product roadmap
Collaborative ecosystem - Projects within the "MegaMafia" supporting each other through shared liquidity and users
Early access programs - Priority rollouts to aligned community members
This approach creates genuine stakeholders rather than passive speculators, fostering long-term engagement and organic growth.
Valhalla's choice of MegaETH stems from both technical capabilities and ecosystem alignment, embodying the shift toward community-driven finance:
Technical Advantages:
Real-time architecture - Enables true on-chain perps and CLOB functionality at practical speeds
Ecosystem Benefits:
Aligned community - MegaETH's user-first tokenomics create natural synergies
Builder-focused network - The "MegaMafia" provides collaborative support through shared resources
Shared mission - Users become owners through meaningful participation, not speculation
This represents a broader industry shift away from VC-heavy, low-float models toward genuine community ownership where innovation thrives, barriers crumble, and the ecosystem grows together through collaborative rather than extractive models.
Core Technical Features:
Hybrid execution model - On-chain settlement with off-chain order matching for optimal performance
Central Limit Order Book (CLOB) - Professional-grade order matching similar to traditional finance
Real-time composability - Sub-100ms execution enabling atomic strategies
Co-located market makers - Same-rack sequencers and oracles for CEX-level latency
Multi-collateral support - Yield-bearing assets like capUSD from Cap Labs, earning yield while trading
Valhalla Vaults (VLP) - High-yield opportunities through automated vault strategies
Native oracles - Faster, permissionless market listings without external dependencies
Permissionless market creation - Fast asset listings when sufficient volume/liquidity exists
Atomic Funding Rate Farming - Execute spot buy + perp short simultaneously via flash loans, eliminating timing risks and market exposure during strategy setup.
Composable Risk Management - Smart contracts handle positions and risk, enabling other protocols to build on top of Valhalla's infrastructure.
Integrated DeFi Strategies - Close shorts, roll margin into yield vaults, and rebalance collateral within single atomic transactions.
Positions as Collateral - Use P&L from existing positions to back new trades, maximizing capital efficiency.
While respecting Hyperliquid's community-building success, Valhalla offers distinct technical advantages:
Composability: Hyperliquid operates across separate environments (HyperEVM vs. HyperCore) with different block speeds (1s vs. 70ms). Precompiles bridge these but create latency. Valhalla maintains full composability within MegaETH's unified environment.
Latency & Performance: Hyperliquid's L1 consensus creates latency as validators coordinate globally. MegaETH's co-located sequencers and oracles achieve sub-100ms execution by decoupling execution from consensus.
Privacy Options: Unlike transparent order books, Valhalla provides optionality - users can choose private or verifiably public trading based on their strategy needs.
Infrastructure Details:
Oracle system - Multi-source (A, B, C) with on-chain fallback mechanisms
Liquidation engine - Permissionless participation, vault-assisted liquidations
Fee structure - Tiered by volume, no VIP programs, equal treatment for all users
Low gas costs - MegaETH's efficiency avoids fee spikes common on other chains
As Tiago notes: "MegaETH's infra made the product possible. MegaMafia made the execution inevitable."
Valhalla is building the first fully on-chain hybrid trading platform that combines perps, spot trading, and lending in a composable environment.
Revolutionary Trading Primitives: |
As Tiago explains: "Binance can't do it with their CEX and BNB chain, Hyperliquid can't do it with HyperCore and HyperEVM - Valhalla and MegaETH do it."
- Valhalla's technical overview and features
- Deep dive into Valhalla's origin story
- Tiago's perspective on industry evolution
- Technical deep dive covering primitives, oracles, and competition
- Why single-state chains enable real composability