Sainsbury's EtherFi enters HyperLiquid — a bet on the growth of the HYPE DeFi ecosystem
EtherFi (TVL ~$9 billion) is entering HyperLiquid through a partnership with HyperBeat — a yield aggregator on HyperEVM (TVL $488 million).
📌 What is being launched:
— preHYPE: a multisig vault for early investments before the release of the beHYPE token
— Infrastructure from EtherFi + HyperBeat strategies
— In 6 weeks, preHYPE will transition to smart contracts
— Participants will receive yield and Hearts tokens from HyperBeat
📈 Context:
— HYPE token is rising, HyperLiquid is attracting institutional interest
— HyperEVM has only existed for 5 months — maturity risks remain
— ETHFI +29% over the month, but still -85% from the peak in March 2024
The partnership is a signal of trust in HyperLiquid. It strengthens EtherFi's position in DeFi, adding a new yield zone. However, the maturity of HyperEVM is still in question — the market will evaluate as the launch progresses.
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