Hyperliquid's August revenue exceeds 100 million, entering the high-income fast lane

According to @DefiLlama @Hyperliquid, August revenue reached $106.41 million, setting a historical record, with an annualized revenue of $1.251 billion, and a cumulative total revenue exceeding $512 million.

What does this mean? Not only is the trading volume surging, but also:

1️⃣ DEX derivatives have entered the 'cash flow driven' era

2️⃣ The head effect is intensifying, Hyperliquid far outpaces competitors like GMX/dYdX

3️⃣ No points, no token incentives, yet relying on product strength to achieve an annual income of $1.2 billion

4️⃣ HYPE buyback + market-making reward mechanism will strengthen long-term support for the token

5️⃣ Price-to-sales ratio (PS) is only 10-11x, still undervalued compared to revenue performance

6️⃣ The technology stack continues to expand, already featuring HyperEVM, on-chain order books, SDK tools, and other supporting capabilities

$Hype

📌What to focus on next:

• Will the buyback pace be fulfilled?

• Will the ecosystem introduce stablecoins/loans to form a closed loop?

• Will the points or incentive mechanism be restarted?

• Will there be an explosion of high-frequency trading/market-making strategy opportunities?