<p>Today, <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> launches Syncro Data Stream: a real-time blockchain data stream for Sui and Hyperliquid, built directly on P2P.org's active validator infrastructure.</p><p>Syncro Data Stream is designed for latency-sensitive teams where on-chain data latency directly affects trading performance. Trading teams, market makers, quant funds, and arbitrage desks operating on Sui or Hyperliquid now have access to validator-speed data delivery through a dedicated WebSocket endpoint, at flat monthly pricing with a one-week free trial.</p><p>For trading teams that have been making do with shared public endpoints and checkpoint-based feeds, this changes what is available at a documented, accessible price point.</p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://p2p.org/economy/content/images/2026/05/syncro-data-stream-data-path-diagram.jpg" class="kg-image" alt="Diagram showing two data delivery paths from a validator node: the Syncro Data Stream path via private Sentry and dedicated WebSocket, and the public path via network gossip and shared RPC endpoint" loading="lazy" width="1600" height="900" srcset="https://p2p.org/economy/content/images/size/w600/2026/05/syncro-data-stream-data-path-diagram.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2026/05/syncro-data-stream-data-path-diagram.jpg 1000w, https://p2p.org/economy/content/images/2026/05/syncro-data-stream-data-path-diagram.jpg 1600w" sizes="(min-width: 720px) 720px"><figcaption><i><em class="italic" style="white-space: pre-wrap;">Syncro Data Stream sources data at the validator and delivers it to clients before it reaches public infrastructure. The public path adds network propagation and shared endpoint delays on top.</em></i></figcaption></figure><h2 id="what-is-syncro-data-stream">What is Syncro Data Stream?</h2><p>Syncro Data Stream is a real-time blockchain data stream sourced directly from P2P.org's active validators. Unlike shared public endpoints and standard RPC providers, Syncro Data Stream delivers on-chain data before it propagates to public infrastructure, at the earliest point of network availability.</p><p>The product launches on two networks simultaneously, Sui Network and Hyperliquid Network.</p><figure class="kg-card kg-video-card kg-width-regular kg-card-hascaption" data-kg-thumbnail="https://p2p.org/economy/content/media/2026/05/p2p-org-syncro-data-stream-Sui-Hyperliquid-promotional-video_thumb.jpg" data-kg-custom-thumbnail=""> <div class="kg-video-container"> <video src="https://p2p.org/economy/content/media/2026/05/p2p-org-syncro-data-stream-Sui-Hyperliquid-promotional-video.mp4" poster="https://img.spacergif.org/v1/1920x1080/0a/spacer.png" width="1920" height="1080" playsinline="" preload="metadata" style="background: transparent url('https://p2p.org/economy/content/media/2026/05/p2p-org-syncro-data-stream-Sui-Hyperliquid-promotional-video_thumb.jpg') 50% 50% / cover no-repeat;"></video> <div class="kg-video-overlay"> <button class="kg-video-large-play-icon" aria-label="Play video"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 24 24"> <path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"></path> </svg> </button> </div> <div class="kg-video-player-container"> <div class="kg-video-player"> <button class="kg-video-play-icon" aria-label="Play video"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 24 24"> <path d="M23.14 10.608 2.253.164A1.559 1.559 0 0 0 0 1.557v20.887a1.558 1.558 0 0 0 2.253 1.392L23.14 13.393a1.557 1.557 0 0 0 0-2.785Z"></path> </svg> </button> <button class="kg-video-pause-icon kg-video-hide" aria-label="Pause video"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 24 24"> <rect x="3" y="1" width="7" height="22" rx="1.5" ry="1.5"></rect> <rect x="14" y="1" width="7" height="22" rx="1.5" ry="1.5"></rect> </svg> </button> <span class="kg-video-current-time">0:00</span> <div class="kg-video-time"> /<span class="kg-video-duration">0:58</span> </div> <input type="range" class="kg-video-seek-slider" max="100" value="0"> <button class="kg-video-playback-rate" aria-label="Adjust playback speed">1×</button> <button class="kg-video-unmute-icon" aria-label="Unmute"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 24 24"> <path d="M15.189 2.021a9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h1.794a.249.249 0 0 1 .221.133 9.73 9.73 0 0 0 7.924 4.85h.06a1 1 0 0 0 1-1V3.02a1 1 0 0 0-1.06-.998Z"></path> </svg> </button> <button class="kg-video-mute-icon kg-video-hide" aria-label="Mute"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 24 24"> <path d="M16.177 4.3a.248.248 0 0 0 .073-.176v-1.1a1 1 0 0 0-1.061-1 9.728 9.728 0 0 0-7.924 4.85.249.249 0 0 1-.221.133H5.25a3 3 0 0 0-3 3v2a3 3 0 0 0 3 3h.114a.251.251 0 0 0 .177-.073ZM23.707 1.706A1 1 0 0 0 22.293.292l-22 22a1 1 0 0 0 0 1.414l.009.009a1 1 0 0 0 1.405-.009l6.63-6.631A.251.251 0 0 1 8.515 17a.245.245 0 0 1 .177.075 10.081 10.081 0 0 0 6.5 2.92 1 1 0 0 0 1.061-1V9.266a.247.247 0 0 1 .073-.176Z"></path> </svg> </button> <input type="range" class="kg-video-volume-slider" max="100" value="100"> </div> </div> </div> <figcaption><p dir="ltr"><span style="white-space: pre-wrap;">Syncro Data Stream delivers real-time blockchain data for Sui and Hyperliquid, sourced directly from P2P.org's active validator nodes before it reaches any public endpoint.</span></p></figcaption> </figure><h3 id="syncro-data-stream-for-sui-network">Syncro Data Stream for Sui Network</h3><p>The stream delivers Sui transaction events at certificate processing, before transactions reach public checkpoints and RPC feeds. This is the stage at which the validator has processed the transaction, but before it has been confirmed and published to the broader network. Each client receives a WebSocket endpoint with isolated credentials and IP-based access controls, providing real-time data streaming optimised for execution speed.</p><h3 id="syncro-data-stream-for-hyperliquid-network">Syncro Data Stream for Hyperliquid Network</h3><p>The stream delivers full Hyperliquid order flow from P2P.org's active validator and private sentry nodes, within milliseconds of block creation. Every order across every asset: open, modify, cancel, and fill, with side, price, quantity, status, order ID, and user attribution. Block events, system metrics, and heartbeat data arrive on a dedicated channel, keeping operational signals out of the market data path. Per-asset subscriptions or full firehose, with WebSocket JSON or ESP binary delivery.</p><p>Both products are available at $2,000 per month each, with a one-week free trial for new clients.</p><h2 id="why-on-chain-data-latency-matters">Why on-chain data latency matters</h2><p>For most applications, receiving transaction data a few hundred milliseconds after it hits public infrastructure is acceptable. For latency-sensitive teams, it is not.</p><p>On-chain data latency is the gap between when something happens on the network and when your systems see it. For trading teams, that gap determines whether an opportunity is still open or already taken. For market makers, it determines whether a quote reflects the current state or stale state. For arbitrage desks, it determines whether a price discrepancy still exists by the time an order reaches the book.</p><p>Public APIs and shared RPC endpoints introduce on-chain data latency in two ways. First, data has to propagate from the validator through the network before it reaches a public endpoint. Second, shared infrastructure adds queuing and rate limiting that compound the delay under load. The result is that by the time your systems see the data, multiple other teams have already acted on it.</p><p>This is not a marginal problem. On chains with sub-second finality like Sui and Hyperliquid, where block times are measured in hundreds of milliseconds, even a 5 ms latency gap relative to the fastest available feed can be meaningful. In these environments, opportunities can open and close within milliseconds</p><p>Syncro Data Stream reduces that gap to a single validator-to-client hop, delivering data before it touches any public infrastructure.</p><h2 id="built-on-active-validator-infrastructure">Built on active validator infrastructure</h2><p>The differentiator for Syncro Data Stream is not just speed. It is where the data originates.</p><p>P2P.org operates active validators on both Sui and Hyperliquid, giving us direct access to network data at the infrastructure level. For Sui, our data stream is integrated with our validator operations, allowing us to surface transaction events earlier than standard public data sources.</p><p>For Hyperliquid, we use a dedicated low-latency data delivery setup within our private infrastructure, designed to reduce unnecessary overhead and provide clients with timely access to block and transaction data.</p><p>P2P.org is not a trading firm. Syncro Data Stream is a read-only data stream. P2P.org has no visibility into client strategies, positions, execution logic, or customer data. For teams evaluating infrastructure providers that also trade, this distinction matters.</p><h2 id="who-syncro-data-stream-is-for">Who Syncro Data Stream is for</h2><p>Syncro Data Stream is built for teams that have outgrown shared public infrastructure and need dedicated, validator-speed data delivery.</p><h3 id="high-frequency-and-systematic-traders">High-frequency and systematic traders</h3><p>For directional and arbitrage teams, execution quality depends on latency. Public endpoint latency puts teams at a structural disadvantage relative to teams with faster access. Syncro Data Stream is designed to help close that gap, providing a low-latency baseline that supports tighter entry and exit timing across Sui and Hyperliquid.</p><h3 id="market-making-and-liquidity-provision">Market making and liquidity provision</h3><p>Relying on delayed data leads to adverse selection. Syncro Data Stream delivers validator-speed order flow with granular user attribution, allowing market makers to maintain tighter spreads, manage inventory risk more effectively, and meaningfully shift the information baseline for teams that need to quote accurately under fast-moving conditions.</p><h3 id="quantitative-research-and-alpha-generation">Quantitative research and alpha generation</h3><p>Aggregated feeds mask market microstructure. Syncro Data Stream for Hyperliquid provides the complete, non-summarised order flow across every asset with persistent user IDs. This high-fidelity stream can enable modelling approaches that are difficult to achieve on snapshot-based feeds, supporting predictive signal research and counterparty analysis.</p><p>For Hyperliquid specifically, Syncro Data Stream is positioned as an open, documented, validator-speed offering with transparent pricing at $2,000 per month and a one-week free trial, designed for teams that need accessible, production-ready sentry-level data.</p><h2 id="part-of-the-syncro-infrastructure-product-line">Part of the Syncro infrastructure product line</h2><p>Syncro Data Stream joins Syncro Sender, P2P.org's Solana transaction landing service, as part of the Syncro infrastructure line.</p><p>Syncro Sender routes Solana transactions through P2P.org's staked validator connections and multi-path delivery to reach the block leader before traffic coming through public RPCs. It is already in production with leading trading teams.</p><p>Syncro Data Stream and Syncro Sender address two sides of the same problem: getting your systems closer to the chain than shared public infrastructure allows. Sender handles the execution side on Solana. Syncro Data Stream handles the data side on Sui and Hyperliquid. For teams operating across multiple networks, both products run on the same <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> validator infrastructure and follow the same dedicated endpoint model.</p><h2 id="getting-started">Getting started</h2><p>Both Syncro Data Stream products are available now. Provisioning is straightforward: share your IP for allowlisting, receive your dedicated WebSocket endpoint and credentials, and connect your systems. Most teams are live within days of signing.</p><p>New clients receive a one-week free trial to validate integration, latency, and data quality against their existing setup. No credit card required.</p><p>Full technical documentation is available at <a href="https://docs.p2p.org/?ref=p2p.org">docs.p2p.org</a>.</p><p>To get started with Syncro Data Stream for Sui, visit the <a href="https://www.p2p.org/products/syncro-sui-transaction-data-stream?ref=p2p.org" rel="noreferrer">Syncro Data Stream Sui page</a>.</p><p>To get started with Syncro Data Stream for Hyperliquid, visit the <a href="https://www.p2p.org/products/syncro-hyperliquid-data-stream?ref=p2p.org" rel="noreferrer">Syncro Data Stream Hyperliquid page</a>.</p><hr><h2 id="about-p2porg">About P2P.org</h2><p>P2P.org has operated blockchain infrastructure since 2018 across dozens of proof-of-stake networks, serving a broad base of institutional partners. Syncro is P2P.org's crypto trading infrastructure product line, built on the same validator infrastructure that powers our staking business.</p><hr><h2 id="disclaimer"><em>Disclaimer</em></h2><p>This material is provided for informational purposes only and does not constitute investment, financial, legal, or tax advice. <a href="http://p2p.org/?ref=p2p.org">P2P.org</a> accepts no liability for any actions taken based on it. Latency and performance figures referenced are estimates based on internal benchmarks and may vary depending on network conditions, geography, and client infrastructure. Past performance is not indicative of future results.</p>
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<p>On January 25th, 2023, P2P joined the Sui network testnet wave-2. We had also participated in the first wave of the testnet with the goal of understanding the node operation nuances of the Sui blockchain. The second testnet was a game played by validators and delegators to understand the network economics and staking specifics.</p><h3 id="high-level-overview-of-sui-economics-specifics">High-level overview of Sui economics specifics</h3><p>Sui is a layer one blockchain focused on scalability, user and developer experience, and utilizes its own variant of the Move programming language. It allows for consensus to be forgotten in simple use cases, and transaction processing is parallelized.</p><p><em>In this article, we will briefly cover two elements of the Sui economy:</em></p><ul><li>Storage Fund</li><li>Reference Gas Price Mechanism</li></ul><p>Let’s start with the <strong>storage fund</strong>. It plays the role of a compensation buffer to reward validators for on-chain data storage. It is evenly staked to validators and a portion of staking rewards get reinvested back into the fund. This parameter influences the overall reward calculation. It starts relatively low in the beginning but its share steadily increases slowly along with the storage growth.</p><p>Another element influencing the validator rewards is a <strong>Reference Gas Price [RGP]</strong>. It represents the minimum price at which validators are willing to process transactions. For users, it plays the role of a guide when propagating transactions ensuring that gas prices close to the reference price will be executed appropriately. Every epoch, validators submit their quotes for RGP and the protocol chooses the 2/3's percentile by stake as the epoch reference price.</p><p><strong>Staking rewards</strong> consist of stake subsidies and gas revenue. Subsidies are known for each epoch. For testnet-2 epoch, subsidies were equal to 0,01% * total stake (mainnet subsidies will differ from wave-2) making them relatively low compared to gas revenue. Validators could calculate expected gas revenue based on the selected RGP and on-chain activity. Each participant received random costs and had to select RGP to remain profitable but at a reasonable level to improve UX and maintain lower transaction costs for users.</p><h3 id="testnet-overview">Testnet overview</h3><p>The Sui team has prepared a dashboard to track the progress of the validators during the testnet If validators selected an RGP that was equal to or lower than the final epoch RGP, they received a bonus point. Points were also assigned for maintaining positive profitability during the epoch. The score rules were changed after the 6th epoch to switch the behavior of participants during the game, so some data will be split in two groups: The first group from epoch 2 to epoch 6, and the second group from epoch 7 to epoch 31. The first two epochs were experimental and were not counted and we excluded them from the analysis.</p><p>Validator shares and costs varied during the testnet, resulting in different capabilities to remain profitable and get into the ⅔ percentile in RGP voting leading to a semi-random points distribution. The analytics below can bring some clarity to the actual activity of participants during the testnet. <br><br><em>Important note, validators could have different goals and strategies for the game, and the data below should not be taken as a representation of participation quality. We set the following goals for the testnet:</em></p><ul><li>To align with Sui economics specifics</li><li>To understand the RGP selection process and build a reliable model to calculate it</li></ul><p>We decided to prioritize the calculation precision and set our RGP quotes for each epoch with a targeted profitability margin of 5-15%. Our goal was to strike a balance between maintaining profitability without overpricing the user experience. It’s important to note that the logic for the mainnet may differ from that of the testnet.</p><h3 id="wave-2-analytics">Wave-2 Analytics</h3><p>The economic conditions during the testnet changed every epoch, requiring validators to adjust their strategies in order to remain profitable. Out of the 41 validators, only 17 changed their RGP for 80% of the epochs during the testnet.</p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/Kz0Q0-DgbF35ujQVJbD2hJ083ZFVCJ6HzY7JjfBd5sOgr3J5roudMxqoFNfpFMZobviLue1kpd_mbU2G2ebHCyPrTMdO1PttWC8dPs5dOw9ZtxLYO6QDxizl4W-ryEAfUZtM5M8HH4pvN18x48Vw8tE" class="kg-image" alt loading="lazy" width="615" height="351"></figure><p>Profitability was an important part of the assessment, and the following breakdown shows the number of epochs in which each validator had positive profits. However, it is important to note that validators may have had different goals for the testnet. Nonetheless, over 50% of participants were able to make a profit in 80% of the epochs.</p><figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/DBwnNdG7x-WMqH9NevDtILzT8muOnKQmAA1vi00V3Olo_x9nC713a98Au4BYljCHAqJ-Ey-QovfX9OhRbk3tAswqGlhvwPS-O3YXS6LhQ2nmAzoCGNEsoJ-5ToA1_AQduBzBEDNbhZ2AFFbPOuv6M7k" class="kg-image" alt loading="lazy" width="624" height="296"></figure><p>This chart shows the total margin of validators during the testnet. We can observe changes in behavior after the rule change that stopped punishing validators for not being in the ⅔ percentile with their RGP quotes.</p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh4.googleusercontent.com/MNJK1YAe8-t2MqRNbiAK-PqKKofoEi02oNgVaCcVdIivrJN8m7fmeuy5rw3PKfFqZeavV5wibb-7ewuWHHxCO1KRh_hBlAzh4K2KRNvTGmaDqTJzSSIivrA4bP4HrmuHdAXxY59N1zKqbG2jvi93YOY" class="kg-image" alt loading="lazy" width="624" height="304"><figcaption>Epochs 2-6</figcaption></figure><p>Epoch 7-31 resulted in a more selective approach that takes profit into consideration.</p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh3.googleusercontent.com/P1bFZ02CXinViO1MTRo4xpJFGiJbf6io0xZX2Uz26PPDUAbCx9BjTKDnmTvV3TkobVWkxKrs3yFfLKH3KDkB_wrUseLcaPqrOSxR4D9-OctEFIjTDVQr_oddggTDX4qTECOVJ7ZNKotFUdj-KZ76rh8" class="kg-image" alt loading="lazy" width="624" height="304"><figcaption>Epochs 7-31</figcaption></figure><p>In the following plots, we will display the standard deviation of each validator, which indicates how stable and precise their margin was. A lower standard deviation indicates more precise and consistent RGP quotes. For instance, if a validator quoted around 10% margin most of the time, their deviation would be low.</p><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh5.googleusercontent.com/wn2t8VuyRxjTSWm8oBEYyNClUV-2WRc2jWuPrjFr27lGjFs0zqJmctTxbk65mpOcC1Db6SWJMD772ok_U5ZTCMlFUgplSQg6ghdFGsWzDtXDHuNBxkxuuIJtTecFg86wE59lfDVg0I0symK6pJhwxVQ" class="kg-image" alt loading="lazy" width="624" height="315"><figcaption>Epochs 2-6</figcaption></figure><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh3.googleusercontent.com/sofwFnKTNhtRXpRCAKN2bdZBsJUsOOCpkZ_Rsql67YEMFuChDmYKIfOvPZ0o6iFYiPoRwkWq-OMOsznP5SUVOgvehZ68yboAda2HJXpoGDaVIClwEJfyuRAmlRoFWtOYwDFcyMizoslIhFd9_VCn3TU" class="kg-image" alt loading="lazy" width="624" height="272"><figcaption>Epochs 7-31</figcaption></figure><p>Another way to represent margin statistics is through the mean, total and median margin parameters, which also provide insights into validator behavior. This chart excludes extreme values that deviate from the average by more than 2.5 standard deviations. If all three parameters are similar, it indicates that a participant successfully targeted and maintained the margin. For instance, the mean, total and median parameters for P2P vary from 8 to 11 percent, falling within the selected 5-15 percent range that we aimed for internally beforehand.</p><figure class="kg-card kg-image-card"><img src="https://lh3.googleusercontent.com/zYeUw2njbpfDchttyajDZN5o_z0yS6SuhDXBHSdDCqhIQuhJb0RBZcNjzXf5ZoEFLlU-XNfNADzqUD4j5pk4q_WD9rieY2NG7Kc8WJ7yvf_BclWRA-O_FWYI99ZZdN1MvfQMuhAJ-zf918yo-3auryU" class="kg-image" alt loading="lazy" width="624" height="268"></figure><p><em>Feel free to explore the </em><a href="https://docs.google.com/spreadsheets/d/1XAe7rFMQ2I9BZHNiJHbcMZvgRXdu9KcGKXPfQo84Yus/edit?usp=sharing&ref=p2p.org"><em>spreadsheet with the data</em></a><em> and graphs provided in the article.</em></p><p>For a more detailed picture we have compiled a heatmap showing the deviation from each validator’s optimal RGP for each epoch. We assumed that the validator's optimal RGP is calculated based on a random margin value within the 5-15% interval. We can infer that In the second part of the game, validators moved towards profitability and calculated their RGP more precisely.</p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/rmUHootLT_PQVFlI-hVLXMDAbtiYWtVGUIiMbvWZiNS1B1n6cn5vtI4Rr2wS3gx-d6MDlQlhV1oRv3inaytTRf_fHexlbeyskVzNPJKmv9QVeGUKKXTYRvPgbp1JqUqjGL6mka5tL_BW_4zYK2Kvj2c" class="kg-image" alt loading="lazy" width="624" height="573"></figure><h3 id="summary">Summary</h3><p>The Sui testnet-2 was an intriguing experiment that contributed to a better understanding of staking economics and network specifics.</p><ul><li>Validators were able to experiment with different calculations to develop their own strategies during the game</li><li>The main purpose of RGP is to maintain a balance between validator profitability and end-user experience</li><li>Using an optimal margin level for calculating RGP may be an effective way to achieve both goals</li><li>Calculating RGP involves multiple parameters that can fluctuate and may be difficult to predict in advance leaving room for modeling improvements over time</li><li>Participating in a testnet is an excellent opportunity to familiarise with network specifics and prepare for mainnet launch.</li></ul><p><em>If you’re interested in staking or in launching a white-label validator with us, feel free to express interest on p2p.org. We’ll keep you informed about key milestones and help you get onboarded to the mainnet from the very beginning.</em></p><hr><p><em>Special thanks to Alexey Toporov for aggregating the data and creating the charts for the article.</em></p><hr><h3 id="about-p2p-validator">About P2P Validator</h3><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading staking provider with the best industry security practices AAA SR-rating and proven expertise. We provide comprehensive due diligence on digital assets and offer only top-notch staking opportunities. At the time of the latest update, more than 1 billion USD value is staked with P2P Validator by over 40,000 delegators across 40+ networks. We have successfully participated in Sui testnet-1 & testnet-2 to become the most comprehensive partner for staking and branded node maintenance.</p>
from p2p validator