RION will launch on the Bonding-Curve version TGE of Binance Wallet today at 16:00. Is it worth participating?
Written by: Alex Liu, Foresight News.
On July 16 at 16:00, Binance Wallet will hold the first Bonding-Curve version TGE, launching the native token RION of the Aptos ecosystem DEX project Hyperion. This activity requires eligible users to participate in the subscription using Binance Alpha points, using the 'Bonding-Curve' algorithm for dynamic pricing and liquidity provision for RION.
Taking this opportunity, we will comprehensively review Hyperion's project positioning, technical features, financing history, data metrics, token economy, airdrop plan, etc., while also introducing other popular projects in the Aptos ecosystem and overall activity levels.
Protocol Features: Hybrid Order Book + AMM + Aggregation.
Hyperion is a hybrid decentralized exchange (DEX) natively deployed on the Aptos chain, integrating both order book matching and advanced automated market-making mechanisms. The core design is based on a concentrated liquidity model (similar to Uniswap V3), allowing liquidity providers to allocate capital within specified price ranges, enhancing capital efficiency.
Hyperion also features a Directional Liquidity Market Maker (DLMM) mechanism, dynamically adjusting the fund distribution within the x+y=k curve to achieve zero slippage trading for highly volatile assets. This allows Hyperion to efficiently serve stablecoin pairs while also meeting the trading needs of long-tail assets, making it the first DEX on Aptos to satisfy this scenario.
In June 2025, Hyperion launched its aggregation routing feature, shifting its positioning from a single DEX to a cross-chain liquidity hub. This feature intelligently splits trading paths, aggregating liquidity from all DEXs on Aptos to provide users with the best prices and lowest slippage.
According to Hyperion's official documentation, its 'fully on-chain hybrid order book - AMM DEX' natively utilizes the Aptos parallel execution engine, catering to the needs of both professional traders and retail investors. Additionally, Hyperion is developing a limit order feature and has a yield vault, forming a complete trading infrastructure layer.
Financing Situation: Institutions such as OKX and Maelstrom have entered the market.
Hyperion gained support from multiple institutions shortly after its inception. In April of this year, Hyperion completed a round of strategic financing led by OKX Ventures, with Aptos Labs (supporter of the Aptos founding team) also participating. Subsequent capital involvement includes Maelstrom (the family office of BitMEX founder Arthur Hayes) and Mirana Ventures, though specific amounts have not been disclosed.
Project Data: High trading volume and active users.
In just a few months, Hyperion has rapidly become a liquidity hub in the Aptos ecosystem. Hyperion is currently the largest protocol by trading volume on Aptos, with a cumulative on-chain transaction value exceeding $6.5 billion. As of July, Hyperion's TVL (Total Value Locked) surpassed $130 million, with daily trading volumes fluctuating between $125 million and $150 million, peaking at $174 million in early July.
According to DefiLlama data, Hyperion's total trading volume over the past 30 days exceeded $4 billion, ranking 12th among all DEXs.
It has also collaborated with mainstream wallets and platforms to conduct many user incentive activities. For example, the USDC DeFi event in partnership with OKX Wallet, trading mining, and airdrop activities in collaboration with Bitget Wallet and Gate Wallet, bringing users and liquidity to the protocol.
Hyperion has launched the Drips points system, allowing traders, LPs, and community contributors to accumulate points through on-chain interactions, linking them to airdrops and governance. These initiatives have collectively promoted user growth: as of now, nearly 940,000 participants have engaged in Hyperion's on-chain interactions.
Token Economics: Dual-token model and distribution.
Hyperion adopts a dual-token model: a tradable native token RION (total supply of 100 million) and a governance token xRION generated through staking. RION is a functional token of the Hyperion platform, used for paying fees, settling transactions, and distributing rewards. xRION is a non-transferable governance certificate; users can lock RION (for up to 52 weeks) to exchange for xRION, which is used for platform governance and quota allocation for new project launch pools. The weight of xRION is designed to decrease linearly over time, aiming to encourage long-term holding and continuous participation.
Hyperion has announced the genesis airdrop arrangement: a total of 5% of RION is allocated to reward early participants of the protocol. Of this, 3% will be released at the time of token generation, and the remaining 2% will be unlocked linearly one month after TGE. The uses of RION also include platform operations, ecological development rewards, etc. (The official documentation states that RION will serve as platform participation incentives, distributed based on actual on-chain activity, and inactive users will not receive additional tokens). RION will be issued through the Bonding Curve mechanism of Binance Wallet, with its price determined by supply and demand, converting to a regular trading asset after the activity ends.
Airdrop details and participation methods.
Hyperion has set up community incentives and airdrop mechanisms to attract users. As previously mentioned, its genesis airdrop covers traders, liquidity providers, and community contributors of the protocol, accounting for 5% of RION's total supply. The key to obtaining airdrop eligibility is participating in the Hyperion ecosystem: users can earn Drips points by trading, providing liquidity, or completing community tasks. Points are directly linked to subsequent token airdrops and governance weight, which can be redeemed for future airdrop rewards or to gain whitelisting for the Launchpad.
Hyperion's airdrop includes a lucky draw for addresses that received the Aptos airdrop in 2022, with about 800 addresses randomly selected to qualify for claiming RION.
Participate in Binance Wallet Bonding Curve version TGE.
This RION TGE is exclusively issued by the Bonding-Curve version of Binance Wallet, marking the first such event of Binance Alpha. The subscription time is set for July 16, 2025, from 16:00 to 18:00, requiring Binance Alpha points to participate.
The activity rules are: each user can invest up to 3 BNB to participate in the subscription, and the smart contract will dynamically calculate the current price based on the total amount of RION sold. Once users confirm their investment, BNB is locked, and an equivalent amount of RION is allocated to their Alpha account; during this phase, RION cannot be withdrawn off-chain and can only be traded with other users on the activity page. Once an order is submitted, it cannot be revoked, and it will be executed as long as there are matching orders from other users. After the activity ends, all unexecuted BNB will be automatically refunded to the wallet, while the RION held by users will be unlocked and become tradable assets.
In simple terms, it means 'buy cheap early, buy expensive late,' with 'internal trading' only allowed before the end of the activity, and free trading allowed afterward.
