Hyperliquid, with only 11 personnel, has achieved a record revenue of 106 million USD per person, surpassing Tether and major tech corporations. Annual revenue is estimated at nearly 1.2 billion USD, thanks to fees from decentralized futures contracts. Since December, Hyperliquid has generated 589.11 million USD, currently the third largest revenue-generating protocol after Tether and Circle, surpassing many names such as Tron and Pump.fun.