Core Viewpoint - Hyperion DeFi is positioning itself as a leading player in the decentralized finance (DeFi) space, focusing on the Hyperliquid blockchain and its native token HYPE, with ambitious growth plans for 2026 [1][2]. Company Developments - The transformation from Eyenovia to Hyperion DeFi occurred on June 17, 2025, marking the company as the first U.S. publicly listed entity to hold HYPE on its balance sheet [2]. - Key milestones achieved include establishing the "Kinetiq x Hyperion" validator for staking rewards, launching the HiHYPE Liquid Staking Token, and entering a HYPE Asset Use Service Agreement with Credo [6]. - The company reported a record net income of $6.6 million for Q3 2025, the highest in its history [6]. - Strategic partnerships were formed, including one with Felix to launch a "HIP-3" exchange, enhancing trading capabilities on Hyperliquid [6]. Financial Performance - Hyperliquid became the highest revenue-generating blockchain network, accounting for over 30% of all blockchain fees at its peak in Q3 2025, with approximately 97% of revenues used for HYPE token buybacks [7]. - The company holds a significant quantity of HYPE, benefiting from the structural tailwind of the token's fixed supply of 1 billion [7]. Market Position and Competitive Landscape - Hyperliquid aims to maintain its leadership in on-chain perpetuals despite increasing competition from other decentralized exchanges [8]. - The platform's focus on liquidity and technical performance has fostered a loyal user community, contributing to its success [8]. Industry Trends - The tokenization of real-world assets (RWAs) is identified as a significant megatrend, with expectations that trillions of dollars will transition to blockchain platforms [9]. - The rise of artificial intelligence (AI) is also noted as a transformative force, with Hyperliquid positioned to benefit from the demand for high-throughput and reliable technological infrastructure [10]. Future Outlook - Hyperion DeFi is seen as a first-mover in the Hyperliquid ecosystem, aiming to create accessible markets for both retail and institutional investors [16]. - The company anticipates that its business will grow stronger with scale, as more markets are created to attract global users [17].

Core Insights - Hyperliquid reported record highs across multiple metrics over the past year without external funding and with all protocol fees returned to the community [1] Performance Metrics - The 24-hour trading volume peaked at $32 billion in 2025, up from $15 billion in 2024 [1] - The open interest reached $16 billion, an increase from $4 billion previously [1] - Total Value Locked (TVL) grew to $6 billion, compared to $2 billion before [1] - The 24-hour protocol revenue surged to $20 million, up from $3.5 million [1] - The user base expanded to 1.4 million [1] New Features - Hyperliquid launched several new functionalities, including HyperEVM, native USDC integration, HIP-3 permissionless perpetual contract deployment, and pre-release of composite margin [1]

Functionality - HyperEVM in Phantom supports token swapping, sending, and receiving [1] - HyperEVM 不支持应用程序交互 [1] Disclaimer - This is not a recommendation or endorsement [1] - Not Financial Advice (NFA), Do Your Own Research (DYOR) [1]

We’ll automatically enable HyperEVM for everyone, but you can enable or disable any networks under “Active Networks” in your settings. ...

HyperEVM Ecosystem Opportunities - Liquid staking through $kHYPE, $LHYPE, and $beHYPE offers yield earning opportunities [1] - Hyperbeat vaults provide higher APY and ecosystem points farming [2] HyperEVM Platform Features - Hype Staking simplifies yield generation from liquid staking via Swap [1] - Hyperbeat vaults enable users to deposit for higher APY and farm ecosystem points simultaneously [2]

Core Insights - Bitget Wallet has fully integrated with HyperEVM, enhancing access for its 80 million users to a rapidly growing onchain ecosystem that combines liquidity, trading, and programmability [1][2] Company Developments - The integration allows users to perform cross-chain transfers, utilize DeFi applications, and access $HYPE token utilities directly from the wallet, positioning Bitget Wallet as a bridge between traditional DeFi tools and high-performance Layer-1 networks [2] Industry Trends - Hyperliquid has established itself as a leader in the DeFi space, known for its speed, depth, and transparency, with its core engine, HyperCore, enabling competitive latency and throughput [3] - The HyperEVM layer introduces smart-contract programmability, allowing DeFi protocols to access Hyperliquid's liquidity without fragmentation, unified by the $HYPE token [4] Market Performance - Hyperliquid leads decentralized perpetual futures trading, generating daily revenue between $1.5 million and $4.5 million, translating to an annualized revenue range of $548 million to $1.64 billion by June 2025 [5] - With an average 7-day trading volume of $56.65 billion, Hyperliquid holds a 67.3% market share in decentralized derivatives, outperforming all competitors combined [5] Cumulative Metrics - Hyperliquid has processed over $1.5 trillion in cumulative trading volume and maintains nearly $10 billion in open interest, showcasing significant scale in the DeFi sector [6] - The launch of the HyperEVM layer signifies Hyperliquid's transition from a derivatives-focused platform to an "Everything Exchange," aiming to integrate various onchain capital market functions [6]

We're excited to announce our full integration with HyperEVM! @HyperliquidXQuick playbook on HL:> Native mainnet support> Cross-chain via @debridge (get points)> Built-in trades by @LiquidLaunchHL> DApp zone for HL eco projectsYou can just hyperliquid on Bitget Wallet. https://t.co/6800J2ChVl ...

Core Insights - The article discusses the strategic approach taken by a company to exploit arbitrage opportunities between HyperEVM and Hyperliquid, particularly focusing on the HYPE token and its price discrepancies [2][3][4]. Market Conditions - In March 2025, the cryptocurrency market was facing significant challenges, prompting the company to seek new opportunities, particularly with 40% of HYPE tokens yet to be distributed to the community [2]. Arbitrage Strategy - The company identified price discrepancies between HyperEVM and Hyperliquid due to HyperEVM's block time of 2 seconds, leading to potential undervaluation or overvaluation of HYPE [3][5]. - Initial trading strategies involved executing trades on HyperEVM when HYPE was undervalued and hedging on Hyperliquid, resulting in daily trading volumes of $200,000 to $300,000 without losses [6][7]. Competitive Landscape - The company recognized two competitors engaging in similar arbitrage activities but aimed to outmaneuver them by leveraging a staking feature introduced by Hyperliquid, which allowed for a 30% rebate on trading fees [8][9]. Volume and Profit Growth - The company achieved over $500 million in trading volume, significantly outperforming competitors and generating daily profits ranging from $20,000 to $120,000 [9][10]. Operational Challenges - As trading volume increased, the company faced operational bottlenecks due to gas limits on HyperEVM, which restricted the number of arbitrage transactions per block [11][12]. - To address these challenges, the company implemented strategies such as using multiple wallets for independent transaction submissions and dynamic gas control to optimize trading efficiency [13]. Optimization Techniques - The company shifted from being a taker to a maker in trades, allowing for capturing more price fluctuations and reducing transaction fees, which enhanced net profits [16][21]. - New parameters and logic were introduced to manage trading positions effectively, minimizing imbalances and optimizing profit margins [18][21]. Innovations in Trading - The introduction of perpetual contracts for HYPE trading provided additional arbitrage opportunities and generated approximately $600,000 in funding fees, further enhancing profitability [24][26]. Collaboration and Development - The company emphasized a collaborative approach in developing trading algorithms, with distinct roles in coding and strategy configuration, leading to continuous optimization and adaptation to market changes [27][28].

Core Insights - Binance founder Changpeng Zhao (CZ) confirmed that there are no current investment ties between Binance and the decentralized exchange Hyperliquid, despite speculation fueled by past connections [1][3] - Jeff Yan, the founder of Hyperliquid, was part of Binance Labs' first incubation program in 2018 through a failed project called YZiLabs, which did not recover its investment [2][3] Hyperliquid Overview - Hyperliquid has emerged as a leading decentralized finance (DeFi) perpetual trading platform, processing approximately $319 billion in trading volume in July 2025, marking the highest monthly figure since its launch [4][5] - The total DeFi perpetuals volume reached a record $487 billion in the same month, indicating significant growth in the sector [5] - Hyperliquid operates on its own layer-1 blockchain and features a unique structure that includes on-chain order books and a matching system, diverging from the automated market maker model prevalent in most decentralized exchanges [5][6] Technical Features - Hyperliquid's architecture consists of two main components: HyperCore, which manages order books, margin, and liquidations, and HyperEVM, a smart-contract layer that shares consensus and data with the exchange core [5] - The platform utilizes a HotStuff-based HyperBFT consensus mechanism, enabling sub-second trade execution with a median latency of just 0.2 seconds, comparable to centralized exchanges [5][6] - The core team of Hyperliquid is relatively small, consisting of only 11 members [6]

Technology & Development - HyperEVM testnet RPC is available for building [1] - Information on integrating CCIP on Hyperliquid is provided [1]