#加密市场反弹

What is the secret to Hyperliquid's success?

1. No VC, self-funded model: Ensures users hold tokens, reduces selling pressure from private placements, and prioritizes the interests of genuine traders over short-term investors.

2. User-centric token distribution: Generous airdrops (31% of the supply allocated to early users, approximately 76% allocated to the community), a dynamic points program to prevent Sybil attacks, and a fund that benefits holders through token buybacks.

3. High-performance Layer-1 (HyperBFT + HyperEVM): Sub-second confirmations, over 100k order throughput, and EVM compatibility provide a combination of speed and future DeFi scalability.

4. Fully on-chain CLOB: Transparent order matching and minimal slippage bridge the liquidity gap that typically binds traders in CeFi.

5. One-stop service for spot and perpetual contracts: Seamless access to core markets: newly launched BTC spot and robust perpetual products. Users can manage spot and leveraged positions on a single platform.

6. Community-driven feature development: Direct feedback loops (user requests for Vault, HLP enhancements, cross-chain bridging) engage traders and shape ongoing improvements.

7. Long-term decentralized vision: Gradual expansion of the validator set, open read-only nodes, and a fee structure without team profits ensure incentive consistency and gradual trustlessness.

By combining technical excellence, community-first incentive mechanisms, and an uncompromising user experience, Hyperliquid has outlined the blueprint for success in DeFi.

Its secret is essentially the perfect blend of institutional-grade performance and grassroots user engagement—this combination redefines on-chain trading and paves the way for a broader future of decentralized finance.