In a June 4 X post, Okto Wallet revealed it is transitioning to a full Hyperliquid-native model. This integration follows a year of work within the Hyperliquid ecosystem. Over this period, more than 10,000 traders joined the platform, contributing billions in trading volume. The Okto Wallet upgrade introduces several features. These included Hyperevm swaps, a browser extension for desktop, and tools such as copy trading and wallet tracking. These changes aim to expand Okto Wallet’s role within decentralized finance.
Okto Wallet Doubles Down With Native Hyperliquid Integration
The Okto Wallet upgrade also includes the launch of native HYPE token staking, signaling Okto’s broader strategy in decentralized trading. Okto’s co-founder, Neeraj Khandelwal, highlighted the platform’s success and also mentioned Okto Wallet going Hyperliquid native. This shift aims to provide a more seamless user experience, with Okto Wallet doubling down on its efforts with Hyperliquid. The X reveal also included several key metrics and achievements that were reached during the one-year period on the Hyperliquid Network.
Shift Toward Decentralized Trading Evident in Hyperliquid’s Growth
Hyperliquid has seen substantial growth, processing $190 billion in trading volume over the last month. The network has captured 21% of Binance’s and 50% of Bybit’s Bitcoin perpetual trading volume. Hyperliquid’s open interest has exceeded $10 billion, and the total value locked (TVL) on the platform has reached $500 million. These metrics illustrate a trend towards on-chain trading and a shift away from centralized exchanges in favor of decentralized solutions.
Okto Wallet has also released some features for the ecosystem. These include the mobile futures interface, Builder Codes integration, and the HL Spot Orderbook. The platform has also launched an SDK to help streamline development. Okto Wallet has also developed a multi-network bridging function and a decentralized application store called Hypezone. In terms of trading activity, Okto Wallet has contributed to Hyperliquid’s success. The platform has facilitated over $3 billion in futures trading volume and more than $200 million in spot orderbook activity. Okto Wallet also introduced the first Solana-to-HL bridge within its app. The platform has rewarded its community with over $400,000 in HYPE tokens, further incentivizing user participation in the decentralized network. These efforts support both financial activity and ecosystem growth.
How HYPE Token Staking Works
HYPE staking, which was introduced with the Okto Wallet upgrade, operates within Hyperliquid’s staking system, HyperCore. Token holders can transfer HYPE tokens between their spot and staking accounts. The staking system follows a delegated proof-of-stake model, where validators must meet self-delegation requirements. Validators may charge capped commission fees to delegators. Staking rewards are automatically compounded and distributed daily, encouraging users to participate in the network while maintaining a fair and predictable reward system.
The staking model offers a clear structure for rewards, similar to Ethereum’s staking system. The rate decreases as more tokens are staked, ensuring fairness and network stability. For example, with 400 million HYPE tokens staked, the projected annual reward is 2.37%. These rewards come from a reserve set aside for future emissions, providing transparency in the distribution process. This structured approach helps maintain a sustainable and fair reward system for participants within the network.
Hyperliquid Integration Signals Shift in Blockchain Industry
As decentralized finance evolves, Okto Wallet’s integration with the Hyperliquid Network reflects a wider shift in the industry. The long-term effects will rely on how quickly adoption grows and the level of ongoing developer involvement. However, the upgrade represents a significant move toward a more cohesive and user-friendly decentralized environment. As other platforms adopt similar approaches, the gap between traditional finance and decentralized systems may continue to close, bringing more people into Web3.
The post Okto Wallet Unveils Its Going Fully Hyperliquid-Native With Upcoming Support for Native Hyperevm Swaps and Native HYPE Staking appeared first on Coinfomania.
