🏆Talk

✅✅
✅Jeff 대표 개발자의 인생작품 코인
Jobs - Iphone
Musk - Tesla
Jeff - Amazon
Jeff - Hyperliquid
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✅100$간다
✅10억이상 벌게해주세요
✅Hyperliquid’s Jeff has a very ambitious goal which is to “Create the platform on which all of finance happens”. While this goal has not yet become a reality, they have captured not only the lions share of onchain perpetuals volume, an impressive portion of centralized exchange volume, and the hearts, minds and devotion of their early users.

On the other side you have the EVM (HyperEVM) which is akin to a side chain as not to affect the performance of the perpetual trading on the L1. The EVM is currently on testnet but will transition to mainnet around the same time as TGE, as it’s been confirmed that $ HYPE will be the native gas token. You can think of their go to market strategy as a product first approach. Build a great product > attract users > transition to a wider permissionless blockchain ecosystem.

That second sentence is one of the major bull cases for Hyperliquid. Jeff knows and has publicly stated multiple times that high FDV/low float tokens that are mainly VC owned don’t work, and that he prefers a wider initial distribution like Bitcoin. So instead of taking VC funding they’ve been entirely self funded since inception. The tokenomics aren’t out yet but this likely means that a large portion of the supply goes to users that have earned points over the last two years, ie. The incentives aligned early adopters.

Let’s look at the stats, as I write this Hyperliquid have just tweeted out that they’ve reached a new all time high in open interest at $1.5b. $417m of that is in BTC, to put that into perspective, that would place Hyperliquid at #12 across all centralized exchanges in between Bitmex and Kraken, or 4% of Binance’s open interest. A remarkable achievement for a fully onchain perpetual protocol in its infancy.

Image As you can see from the chart below, volume really started to pick up at the beginning of this year. They now average around $1b in volume per day, with the highest day being $4.17b on the August 5th low when BTC touched $48k. On that same day they also processed $345m worth of liquidations. It’s worth noting that they’ve never experienced any downtime during these periods of intense volatility.

Hyperliquid volume, June 2023 - Present One of the big bear arguments against Hyperliquid is that its users are primarily mercenary farmers that would leave and take their TVL with them as soon as the incentives stopped. This has been proven wrong on multiple occasions. During May there were no known incentives, at the end of April they announced season one would be finishing with no further details about a season two. Volume dropped a little but stayed steady mostly bouncing around between $600m-1.2b per day. There was a second season from June until the end of October, once again volume remained steady after the season ended. More impressively, TVL has been up only since the second season ended five weeks ago, and the USDC in the Hyperliquid bridge contract now accounts for over 50% of all USDC on Arbitrum.

In the last four days the TVL has jumped by $70m, eager traders likely getting ready for the $ HYPE launch.

Expectations for $ HYPE valuation are all over the place with the most pessimistic being anchored around $1bn and the most optimistic at $10bn+! The reality will likely settle somewhere in the middle. Either way, the $ HYPE airdrop is set to be a significant one, probably the largest we will have seen this year by quite some margin, especially when we consider the likely high allocation there will be towards the community.

As mentioned, the $ HYPE launch and HyperEVM are set to launch in tandem and teams are tripping over themselves to build on the permissionless side chain.