Good evening, I don't understand any of this

An interesting proposal from the @Looped_HYPE protocol, where you can Earn approximately 10% APY on staked HYPE, remain liquid in the DEFI of @HyperliquidX, and still leverage your yield position

Get to know the STAKE + LOOP of $HYPE, I will explain below 👇

HOW loopedHYPE WORKS
They created an AutoLoop mechanism that works by borrowing HYPE against $stHYPE, then reinvesting the reward HYPE from the STAKE back into the looping strategy (a strategy called recursive staking).
This process can be repeated from 3x to 15x depending on factors such as staking APY and borrowing rate.

DIGGING DEEPER INTO THE FUNCTIONING
I- A user deposits 100 HYPE and receives approximately 100 $LHYPE.

II- The slippage and execution fees of the protocol are included in the price when doing MINT and REDEEM, IN OTHER WORDS, loopedHYPE does not profit from the MINT or WITHDRAWAL of LHYPE.

III- There is the role of the "Risk Curator" that supervises the AutoLoop. "He" is responsible for placing underlying HYPE into a Liquid Staking Protocol (@stakedhype), receiving $stHYPE, then providing stHYPE as collateral and borrowing HYPE to stake HYPE again.
This strategy can be executed recursively up to 15 times.

IV- An important role of the 'Risk Curator' is to calibrate the AutoLoop to rebalance the position according to market conditions.

ABOUT THE TEAM
The project is built by Devs from @StakingRewards197 and @nucleusearn