How does the Hyperliquid integration system cast the most successful airdrop in history?

Author: Three Sigma

Compilation: Felix, Panews

Hyperliquid breaks the airdrop mode, which is the topic that the encrypted community is talking about. This article aims to interpret the integral system of Hyperliquid and why it has become one of the most successful airdrops in history.

1. Briefly describe points and psychology

Points are a structured way to measure and reward the participation and loyalty of users in the ecosystem. They provide a framework to track activities and motivate acts that meet the project growth goals, such as interacting with the project platform or contributing to the community. In the context of airdrops, points usually determine the qualifications and distribution of airdrops, turning the original random rewards into an interactive process to promote competition and sense of accomplishment. In addition, the integration system is also used to guide users and launch the final product.

The most important thing is that the real goal of launching the integral system is to enhance the user base of the project, improve its liquidity, and ultimately enhance all indicators related to growth. Some projects even use these indicators to financing higher valuations to prove the participation and attractiveness of the project.

Psychologically, points are a powerful behavior driver that can enhance user participation. The concepts such as rewarding expectations are to encourage users through the promise of future interests, while mutual benefit encourage users to maintain loyalty to the system that rewards their own efforts. The visibility of points has also promoted social comparison and inspired users to participate in competition deeper.

2. Hyperliquid points plan

Hyperliquid is a derivative derivative trading platform with its own L1 to combine the speed and efficiency of the CEX with the safety and transparency of the blockchain. Hyperliquid stood out in 2024 and became the only well -known project without external funding.

In addition, Hyperliquid also used the integration system to create the best token airdrop activities in the encryption field. This time the airdrop operation has become one of the most successful airdrops in history in scale and execution.

To understand how Hyperliquid has achieved this achievement, you need to study various factors that promote the platform to peak and become the center of the topic.

Hyperliquid points season activity

The integration plan is the cornerstone of the success of Hyperliquid, which aims to reward users and promote the true interaction with the platform. During this period, three major seasons were launched: closed Alpha, public first and second season. Hyperliquid also implements the unreasonable season 1.5 and 2.5 seasons, providing additional points for real use rather than simply nuling.

At the closed Alpha stage ended on October 31, 2023, Hyperliquid distributed 446 million points among 11,500 active users. At this stage, the early adoption of participating in the test platform laid the foundation for Hyperliquid's community -driven spirit.

The integration plan and the first quarter were officially launched on November 1, 2023. Users will distribute 1 million points per week in six months to contribute to the growth of agreement growth. This initial stage ended on May 1, 2024. In addition, users can earn money and points by recommending. In order to further inspire participation and distribution, the temporary season 1.5 (May 1st to May 28th, 2024) was adopted by 2 times the points rewards, and a total of 8 million points were distributed within the surrounding area.

The second season began on May 29, 2024, and distributed 700,000 points per week until September 29, 2024. After these 4 months, the unreasonable season 2.5, from September 30, 2024 to November, distributed 8.4 million points.

Earning rewards: The monks you know are unclear

Hyperliquid's reward system encourages users to participate in compliance activities, such as generating transaction volume and deposit funds. However, fake transactions, withdrawals, and use of related wallets for mining will be punished and marked as Sybil (witch) activities.

Although the distribution rate and the season are transparent, the key details are still uncertain or disclosed until a period of time, including the total points of the season, the existence of the tokens, how the points are converted into the tokens, the exact standards for obtaining points, and may cause the points to obtain points. Punishment behavior.

This clarity and ambiguity mix make participants focus on meaningful contributions, while speculating the broader potential of the campaign system.

PERPS transaction and first season

Although the total points distribution of each season is known, the exact calculation of token distribution is still unclear. In the first season, because the permanent contract market was not considered until the last few weeks, it was speculated that the points distribution was based on a typical indicator based on sustainable contracts, such as transaction volume, trading pens, payment of funds, liquidation, and user profits Quantity or loss.

Compared with the second season, the points allocation of points in the first season is more linear, and more points obtained by transferring more capital through sustainable contracts are obvious. There may be an upper limit for points, or the cost of earning extra points is getting higher and higher after reaching certain thresholds. However, there were obvious differences between users with more capital and users who could only use thousands of dollars for transactions.

Spot transactions, retail and participation

The spot market was launched with PUUR airdrops before the end of the first season. Initially, there were no incentives for the spot market transaction or general trading. However, after May, the start of the second quarter of the points marked the change of the reward mechanism.

During the first quarter, the only way to earn points is the transaction perpetual contract. The system naturally benefits whales, high -frequency traders and city merchants, because it can obtain greater capital and advanced trading strategies. In the second season, a more inclusive system is introduced, allowing users to not only earn points in the spot market, but also earn points through holding assets. This change makes the competitive environment more fair, because the spot market lacks deep liquidity, allowing retail traders and whales to be equal, and make participants with less capital easier competitive points.

In most airdrop mechanisms, whales use their capital through pledge or high transaction volume. Hyperliquid is different, and its team implements a mechanism to ensure a more fair allocation of rewards. This design significantly improves the positive emotions of the community towards the platform. By the beginning of the second season, points allocation has been scattered to users in the sustainable market and the spot market. Although the specific details of the weekly points are not disclosed, the unique indicators of the spot market (such as token holdings or liquidity contributions) may affect the reward calculation.

The decision to maintain the opaque mechanism of these reward mechanisms requires users to try and discover the best strategies to prevent whale cheating and monopoly points allocation. This method has produced a more fair reward structure and promoted the tolerance and participation of users at different capital levels.

3. Index

During the time period of the analysis above, the unclear contract (OI) showed a continuous upward trend, which was closely related to the transaction volume model. There was no sign of laundering transactions throughout the year. Most activities seem to happen naturally, attracting market attention in the active period, and in a relatively calm summer, when the broader market shows a sideways and a slight downward trend, the activity gradually decreases.

A critical moment is Purr airdrop, which has promoted a significant increase in platform activities. After the first quarter of the event, the degree of active declined naturally, and only retained users who really participated in DAPP. Subsequently, during the launch of the 1.5th quarter, these users received additional points rewards, which further inspired their participation.

The launch of the first quarter of the first quarter has attracted less attention, but in the next few months, even in the sluggish encryption market, the event has gradually increased. By the end of the second season, when the broader market was still recovering, Hyperliquid had become a hot topic. Although there is no public award and the market generally believes that the platform's hype has faded, its indicators have risen sharply. With the market rebound after the US election, Hyperliquid has become the preferred platform for traders on the chain, and its performance has always been better than its competitors.

The establishment of the Hyperliquid Foundation, coupled with the upcoming network token confirmation, consolidated the platform's position in the market. The surge in exposure has stimulated the growth of the relevant indicators to achieve the index level, which attracted new users. New users have maintained a certain degree of recognition of the platform and are attracted by its strong performance and innovative functions.

4. What did other projects do?

In order to summarize and understand why the HyperliquQUID integration system is successful and the points of other items are not successful. The following table compares the main features of the main airdrops and integration systems in the round of this cycle:

5. Secret of success

The success of the Hyperliquid integration system is to balance the quality of user viscosity mechanisms and their basic products. By analyzing its uniqueness and the common characteristics of other airdropping activities, we can draw key experience lessons on improving user loyalty, tokens retention, and project growth.

Hyperliquid's uniqueness of the integral system

Hyperliquid introduced innovative elements to make its activities different. The limited points of the system create a fair and competitive environment, avoiding user dissatisfaction caused by unlimited points of mining. In addition, users can also get additional airdrops to increase the perceived value of participation. The most important thing is that points mining requires skills and efforts to ensure the most capable and most capable users to get rewards, while filtering out those users who seek easy benefit.

Common features of airdrop

Although Hyperliquid's activities are unique, they have some common characteristics with other airdrops. The total points were not disclosed in advance, which maintained the market's interest and speculation. Like many other activities, it lasted for about 10 months and launched one or more points of points before the tokens. However, the lack of clear rules is a common disadvantage that allows users to dig the reward mechanism by themselves. Points mining also requires capital investment. This is a standard practice in similar activities, but sometimes it is exclusive.

Future airdrop experience lessons

If the goal is to distribute tokens to the skilled and loyal holders who understand the ecosystem, users who gain airdrops need to work hard and professional knowledge. This method remained consistent with the vision of the project and reduced the possibility of the TGE offspring. Limited total points can further improve user satisfaction, thereby cultivating trust and reducing excessive points mining. In addition, miners should feel that their rewards are obtained through the combination of time, funds and skills, not free, which increases the perceived value of tokens.

The ideal points mining time seems to be about ten months. Just as Hyperliquid and other leading activities are presented, this period balances continuous participation and user fatigue. Simple procedures that need the minimum effort like Grass can bear a short time, but those who require high commitments take a longer time to succeed.

Wider picture: Products are better than points

Hyperliquid's success is far beyond its integral system. It avoids excessive marketing costs, refuses to charge fees during the event, and provides a user -centric platform. It is not restricted by the roadmap driven by external funds and investors, which has achieved a consistent, community -driven narrative. By focusing on sustainable contract transactions, Hyperliquid has created a product that is still essential to ensure that continuous trading activities are still indispensable even during the downturn in the market.

The gradual method of this project cultivates a loyal community that truly believes in its mission. The emphasis on efforts and skills during the points activity not only filtered out the speculative miners, but also established a solid connection between top contributors and projects.

Related reading: Is the valuation of Hyperliquid a reasonable valuation? Quickly view its product status and economic model