『How does Hyperliquid dominate the on-chain perpetual market?』
For every $10 traded in on-chain perpetual contracts, $6.5 flows into Hyperliquid! How did this dark horse capture 64.7% market share from GMX and dYdX? Today, we delve into the wealth code of the 'on-chain Binance' 👇
💎 Core Weapon: CEX-level Experience + 100% On-chain
1️⃣ 50x Leverage + Zero Gas Fees: BTC/ETH contracts are as smooth as Binance, but assets are fully self-custodied 16
2️⃣ 200,000 Orders Processed Per Second: Self-developed HyperBFT consensus, speed surpassing Solana (compared to GMX's AMM slippage nightmare) 8
3️⃣ Whale Favorite: Big players like James Wynn open orders exceeding $1 billion in a single day, relying on atomic settlement to prevent spikes 6
"Opening 50x contracts on Hyperliquid is faster and cheaper than CEX" — An anonymous whale
🚀 Growth Engine: Three Major Money Printing Models
🤑 Liquidity Vault (HLP)
Deposit USDC to be the dealer, earning 54% annually from trading losses of opponents 2
Currently, the pool exceeds $540 million, deeply crushing GMX
🤖 Copy Trading Vaults
Copy top traders' strategies, managers take a 10% cut 5
A certain neutral Delta strategy has an annualized return of over 20%, attracting novices to blindly follow
🎮 Meme Coin Ecosystem
HIP-1 standard token issuance goes live on contracts (e.g., Cat Coin PURR) 8
The team personally market makes, preventing rug pulls from shoddy projects
🌐 Technical Bomb: HyperEVM Launch
Dual VM architecture: native chain handles transactions, EVM layer runs DeFi applications 8
BTC spot trading opening: Transaction volume surged by 300% after launch in February 6
Future plans: Support ETH/SOL spot, devouring Binance's market share
📈 Daily Trading Volume of Perpetual Contracts: $9.3 billion (accounting for 64.7% of the entire chain)
📉 Competitor Comparison: Jupiter only $970 million, dYdX v4 has already cooled down
🤑 Token Economy: Airdrop Textbook
31% of tokens are given for free to early users (average $45,000 per person) 7
Aid fund aggressively buys $HYPE: Already hoarding 16.63 million coins (market cap $260 million) 6
Zero VC exploitation: Team self-funds, 76% of tokens belong to the community
⚡ Get Rich Opportunity: Is there still time to rush in?
✅ Bullish Reasons:
BTC spot just launched, ETH/SOL will follow soon
Copy trading system attracts a massive influx of novices
❌ Bearish Warnings:
Intensifying competition (the rise of Solana-based DEXs like Drift)
High leverage liquidation risks (whales have lost over $15 million in a single day)
