PANews reported on August 19 that the decentralized trading protocol Valantis announced the acquisition of StakedHYPE, the second-largest liquid staking platform on the Hyperliquid blockchain, with specific transaction amounts undisclosed. The operation and development of StakedHYPE will be transferred to Valantis Labs, and its founder, Addison Spiegel, will serve as an advisor to Valantis.
The total value locked (TVL) of StakedHYPE has exceeded $200 million, second only to Kinetiq, making it an important part of the Hyperliquid ecosystem. Previously, Valantis launched an exclusive trading platform for stHYPE and kHYPE, with a combined TVL of approximately $70 million and a total trading volume exceeding $500 million.
In the future, Valantis plans to enhance the decentralized attributes of the stHYPE token, deepen its integration with its DEX and the Hyperliquid ecosystem, and develop stHYPE into a broad liquidity network. This transaction has been completed, and both parties began specific negotiations weeks ago. The investors behind Valantis include Kraken Ventures and Figment Capital.