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Hyperliquid

Category: Layer 1, Perpetual Dex

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Overview

Total XP Rewards

80

Estimated Rewards

$500M

Funding

-

Current Stage

Season 2

Total value locked

$2.04B

Unique Users

158,000

Chains

chain imagechain image

Phase

Mainnet

Structure

Points based

Gas

Yes

Grade

A

Tasks

0/4

TGE

November-2024

Type

Layer 1

Confirmed

Yes

Date

11 months ago

Introduction

  • Hyperliquid L1 with performant native components, including a perps DEX with 100+ assets and spot trading. 

Tasks

task-link

Visit https://app.hyperliquid.xyz/trade

  • Click the "Connect" button and enter your email address.
  • After you press "Submit," within a few seconds, a 6 digit code will be sent to your email.
  • Type in the 6 digit code to login.
  • Now you're connected. A new blockchain address is created for your email address.
task-link

Switch to the Arbitrum network, Click the “Enable Trading” button.

  • Sign the transaction in your EVM wallet.
  • Deposit native USDC over the Arbitrum network to this address.
  • NOTE: Do not send any assets other than native USDC.
  • You're now ready to trade, perform some trade.
task-link

 

Deposit into the Hyperliquidity Provider (HLP) Vault for a variable APR and weekly points.

 

task-link

Visit https://app.hyperliquid.xyz/referrals

  • Create and share your referral link to earn more points.

Fundamentals

  • The Hyperliquid L1 is custom built around a performant derivatives exchange as the flagship native component.
  • Hyperliquid runs with an EVM bridge that is secured by the same validator set as the Hyperliquid L1. 
  • The API servers are permissionless, other than the validating nodes allowing direct connectivity via RPC.
  • The perps clearinghouse is the core component of the exchange state on the Hyperliquid L1.
  • The validators are responsible for publishing spot oracle prices for each perp asset every 3 seconds. The oracle prices are used to compute funding rates.
  • Hyperliquid L1 state includes an order book for each asset. The order book works in essentially the same way as all centralized exchanges.

Potential Rewards

  • The L1 season of points starts today to reflect this growing ambition and welcome new use cases. 700,000 points will be distributed weekly for 4 months.
  • Points criteria will be updated on a recurring basis. Distributions will be based on weekly activity Wednesdays at 00:00 UTC and take place on Fridays.
  • 2,000,000 points per week will be distributed for activity from May 1-28. This bonus multiplier is to reward organic usage.
  • Putting money into the Hyperliquidity Pools doesn't give you more points.
  • Volume is the most crucial factor, try to create volume over 100k, $1M. PnL doesn't matter.
  • You can create a referral code on https://app.hyperliquid.xyz/referrals after you’ve done $10,000 in volume. You will receive 10% of referred users' taker fees, less any fee discount they receive.
  • Hyperliquid Volume (24H) - $1.01B, Cumulative volume- $194B
  • Hyperliquid closest competitor dydx FDV is currently at $1.53B.
  • dydx (DYDX) was the third biggest crypto airdrop, distributing over $1 billion worth of tokens to the community.

Audit

  • Zellic

Features

  • High Performance and Scalability: Hyperliquid is built on its own Layer 1 blockchain, capable of processing 20,000 transactions per second with a median network latency of 0.2 seconds. 
  • User-Friendly Trading Experience: Unlike most DEXs that use Automated Market Makers (AMMs), Hyperliquid employs a fully on-chain order book, offering precise risk control and better spreads.
  • Low Fees and Rebates: Hyperliquid offers competitive trading fees with zero gas costs. Maker fees earn a rebate of 0.2%, and taker fees start at 0.05%, with volume-based discounts available.
  • Wide Range of Assets: The platform supports trading for over 100 popular tokens and offers "hyperps" – perpetual contracts for tokens not listed on centralized exchanges.
  • Hyperliquidity Pools: These pools offer attractive returns, with some providing up to 260% APR. Users can earn points by providing liquidity, which can then be used for various benefits on the platform.
  • Seamless Onboarding and Integration: Hyperliquid integrates with the Arbitrum bridge, allowing for low-cost onboarding and efficient transactions. It also supports all major Web 3 wallets.
  • Security and Transparency: The platform prioritizes security with full transparency, as all transactions and order books are maintained on-chain.

Non-Financial Advice

  • Research:  Explore project's documentation, audits, and community.
  • Understand risks:  DeFi has vulnerabilities, market volatility, and token fluctuation.
  • Invest wisely:  Only invest what you can afford to lose.
  • Beware of scams:  Don't trust unsolicited outreach or guaranteed returns.

*ANZALI only provides suggestions and not financial advice. Use all of the information above at your own risk.

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