One article explains the Hyperliquid ecosystem in detail
Reprinted from chaincatcher
01/16/2025·17days agoHyperliquid will be launched in 2023. It will focus on an on-chain derivatives trading platform and provide a more decentralized exchange option. Jeff mentioned in the interview that it aims to build a platform where all finance can occur. "Hyperliquid Founder: How to Win in Crypto (by Building for Users, Not VCs"
A total of $1.2 billion worth of $HYPE tokens were airdropped to early users on 2024/11/29. At that time, the price of $HYPE was $3.9 and rose to a peak of $34 on 12/24. The market value of FDV reached $34 billion, which is equivalent to 4 cents of BNB’s market value. 1.
It is worth mentioning that this airdrop team with the highest value in history stated that it has not conducted any financing. The degree of discussion before the issuance of the currency is in sharp contrast with its accumulated transaction volume and income.
In addition to the wealth myth of airdrops, several well-known projects have successively auctioned HIP-1 tokens for 300,000 to 500,000 US dollars. The opportunity to list HIP-1 tokens on Hyperliquid has attracted widespread attention in the CT circle, so they want to learn more about it, which is called "Binance on the chain" ” the whole picture.
Hyberliquid team background
According to the document, the Hyperliquid team was founded by Jeff and iliensinc. Currently, only Jeff has publicly attended interviews and made comments on X. Jeffrey Yan graduated from Harvard's Department of Mathematics, worked as a software engineer at Google, and was responsible for developing trading algorithms at Wall Street trading firm Hudson River.
In 2020, he founded the quantitative trading company Chameleon Trading. It was not until 2022 that he realized that the team had reached the limit of high-frequency market makers and began to explore opportunities in DeFi.
Jeff said that after the FTX outbreak, people suddenly had real reasons to distrust centralized exchanges and began to think about what existing resources could do. The idea of establishing Hyperliquid sprouted. The official Medium released Introducing Hyperliquid: your new home in 2022. to trade perps on DeFi will build an on-chain Perp DEX based on Tendermint.
The establishment of Hyperliquid L1 was announced in April 2023. When investigating existing L1 solutions, it was found that none of them could meet the low latency and TPS requirements required to establish an on-chain transaction. It was decided to establish a derivatives exchange that can focus on high performance. L1, first focuses on the optimization of performance and throughput.
How to use Hyperliquid
Hyperliquid's functions are mainly derivatives and spot trading. Users deposit USDC on Arbiturm for transactions, and the handling fees and gas fees are paid in USDC. They can also deposit USDC into HLP Vault to earn income, or pledge HYPE to the verification node to obtain HYPE. The following operations are all in the video tutorial
How to stake HYPE with HyperCollective
The Hyperliquid Foundation announced that HYPE Staking was officially launched on 2025/12/30, with 16 validators joining. Among them, the nodes of Nansen Unofficial verification node (top5 is Hyper Foundation)
Prepare USDC to be deposited into Hyperliquid on Arbitrum
Transfer USDC to Spot Account (Spot Account)
To buy HYPE spot, go to the Stake page and transfer the HYPE tokens to the Staking Account.
Enter the pledge amount and select Nansen x HypurrCollective as the validator
Hyperliquid ecological project
HYPE ecology’s tokens representing memes and community culture: VAPOR, FARM, PURR, HCR…
HypurrFun
Pump.fun in the Hype ecosystem requires participation through the Hypurr Fun robot. You can view the projects being raised in the Telgram group or on the website hypurr.fun. Users use USDC to participate. If 65% of the current pool's cumulative amount exceeds the current auction price, they will bid to create a new token to participate in the auction and be listed on Hyperliquid
Because there is no smart contract on Hyperliquid, the way Bonding Curve is implemented is to use off-chain calculations. Users send USDC to the specified address for purchase. Your current token balance is calculated off-chain based on Bonding Curve. After the auction is successful, go online to Hyperliquid to create liquidity. , assigned to participating addresses.
It is recommended to read the information compiled by @chrischang43. Public mechanism information is very difficult to find.
Recently, HCR, which is more out of the circle and focuses on technical analysis, has also interacted with Aixbtx on Twitter, but its replies are long and boring, and the market is not very willing to pay for it.
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Hypurr Fun: https://app.hypurr.fun/
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Hypur Fun Bot: https://t.me/HypurrFunBot?start=ref_98ca8973
Hyperlend
The Hype ecosystem's first native lending protocol, in addition to basic functions, features support for HLP Vault as collateral to unlock opportunities for leveraged income. Users can use HLP as collateral Supply, lend out other stablecoins and then deposit them back into HLP Vault to cycle deleveraging income. Currently, the test network can participate
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Website: https://hyperlend.finance/
Thunderhead (stHYPE)
Focusing on liquidity staking, in addition to HYPE, it also deploys support for network staking such as Etheruem, AO, and Arch. Currently, only invitees can experience the Hyperliquid testnet version. Users pledge HYPE to obtain stHYPE tokens.
The Rootdata display team was established in 2022 and has not announced financing, but the website states that it has support from capital and node operators such as 1kx, Rocktree, Piertwo, etc.
PvP.trade
Hyperliquid ecological trading robot uses PvP Bot to trade spot and futures on Hyperliquid. The transaction can accumulate PVP points. The project has already auctioned the $PVP token Ticker for US$200,000 on 12/7, so there is an expected airdrop.
Users can join a clan and accumulate points based on transaction volume. However, points distribution is not transparent if multiple people respond. Because the daily total is fixed and different trading pairs receive different points, they need to study together as a group. There is a certain threshold for participating in the airdrop.
Kinetiq (LST)
The liquidity staking protocol built on HYPE is supported by the team behind @anthiasxyz. It is a consulting company focusing on risk design and system management. It has cooperated with the ecosystem and customers from Arbiturm, Solana, Compound...
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Website: https://kinetiq.xyz/
Felix Protocol
The native stablecoin protocol on the Hype ecosystem allows users to deposit assets such as HYPE and PURR to mint the stablecoin feUSD. It has been launched on the test network. The UI design is simple and easy to operate.
Hypur Collective
Hypur Ecosystem is initiated by community members and includes current Hype ecological projects. It is the most important entrance for new projects and users to enter the ecology. The core circle of HypurCo Members has been organized.
Together with Nansen, it became one of the first 16 node validators of Hyperliquid. It has accumulated 30 million HYPE pledges with a total value of approximately US$600 million, making it the largest official pledge node.
HypurScan
The block browser of the Hype ecosystem, which counts protocol income, real-time transactions, and auction information; the current most mainstream Hyper ecological data query station was introduced in the official 2024 In review
- Website: https://hypurrscan.io/dashboard
Hypur/active
The investment DAO initiated by the Hyperliquid community, created by @laurentzeimes @fiege_max, stated that it has no contact with the official core members of Hype, but it was mentioned in the Hyperliquid annual review. It must have had some achievements and influence in the ecology, but has not yet gone deep. explore
HyBridge
Hyperliquid official channels only accept USDT and USDC deposits from Arbiturm. Hybridge supports almost all kinds of assets from 7 chains such as Ethereum, BASE, Solana, etc. to be cross-chained to Hyperliquid. It can also directly specify the receiving assets as ecological tokens such as HYPE, USDC, FUN, etc. The document introduces that the second quarter point activity is currently running. .
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Website: https://hybridge.xyz
HyBio-NFT
HyBio is a relatively popular NFT collection in the current ecology. The earliest NFT-related tweet was in 2025⅛, and it seems to be created by @8tejj8. The team announced the participation method on ⅛. Users mint on BASE, which is divided into whitelist and public sale. The total supply is 5500, 155 are held by the team, and 400 are contributed to the treasury.
Rariable’s public tweet mentioned that the HyBio NFT casting price is 0.025 ETH, with the highest price reaching 0.39 ETH; the trading volume on Opensea is 506 ETH, and the chart will be opened on 1/14
How to issue coins on Hyperliquid?
There are mainly HIP-1 format tokens on Hype, which must be obtained through public auctions every 31 hours. The latest auction information can be found on AXSN Data, or the latest auction information can be found on Hypurscan data. The latest issue ( 1/10) Most projects are between US$300,000
How to get the latest news about the Hyperliquid ecosystem
Hypur Collective is initiated by the community. There is a HypurCo member that only ecological partners can join. Projects can submit application forms. Currently, HypurCo and Nansen run a common node. It is recommended that you choose this node when staking. There may be airdrop surprises in the future.
As a node validator, AXSN provides data analysis tools and will also share Hyperliquid data from time to time. The Hyperliquid Issue #1 they released on 1/3 has comprehensive coverage; HypurCollective’s Weekly Update can provide a good understanding of the community and ecology. sounds and updates.
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