4h ago
Hyperliquid claims 44% of on-chain perpetuals volume after launching without VC or a presale
Hyperliquid, a decentralized derivatives exchange that also runs its own blockchain, accounts for 44% of on-chain perpetuals trading volume. It launched without venture capital backing or a token presale. The project’s HYPE token is used across staking, governance and the HyperEVM environment, and is also tied to an automated buyback mechanism. The model comes with risks that include leveraged trading dynamics, validator intervention and future token unlocks.