Deep diving with Enes, $HYPE #2
a team of about 11 people turned down roughly $100m from a vc and still built the biggest onchain perp exchange. thats the whole story for me
what it is
hyperliquid is its own l1 built for trading. hypercore runs fully onchain order books for perps and spot, hyperevm sits on the same consensus so apps plug straight into that liquidity
the team
led by jeff yan and iliensinc, harvard classmates. jeff studied math and cs and was a quant at hudson river trading. the wider team came from caltech, mit, citadel and airtable
who's backing it
nobody. zero vc money, fully self funded from their own trading. no private investor, exchange or market maker allocation
tokenomics
1b max supply. 31% went straight to users at genesis in nov 2024, 38.888% is saved for future community rewards, 23.8% for contributors with a 1 year lock. protocol fees go to the assistance fund to buy hype, and those tokens were officially burned. now about 90% of the usdc reserve yield on hyperliquid goes there too, first payment was $14.58m
what's next
hip-3 lets anyone staking 500k hype launch their own perp market. trade.xyz already lists 100+ markets in stocks, oil and fx, and got the first licensed s&p 500 perp. hip-4 outcome markets are live and hyperevm is getting higher throughput
why people are watching
its perps now show on the bloomberg terminal, ripple prime offers swaps that track its markets, and hyperliquid strategies, the nasdaq listed hype treasury, just lifted its buyback to $100m
my take
fees and stablecoin yield both buying the token is a rare setup. on the 4h it cooled into the mid 70s, reclaiming 80 is my level. personal view not advice
doing one of these every day, follow so you dont miss the next one
which pushes $HYPE further, hip-3 bringing tradfi onchain or the usdc yield buybacks ?
a team of about 11 people turned down roughly $100m from a vc and still built the biggest onchain perp exchange. thats the whole story for me
what it is
hyperliquid is its own l1 built for trading. hypercore runs fully onchain order books for perps and spot, hyperevm sits on the same consensus so apps plug straight into that liquidity
the team
led by jeff yan and iliensinc, harvard classmates. jeff studied math and cs and was a quant at hudson river trading. the wider team came from caltech, mit, citadel and airtable
who's backing it
nobody. zero vc money, fully self funded from their own trading. no private investor, exchange or market maker allocation
tokenomics
1b max supply. 31% went straight to users at genesis in nov 2024, 38.888% is saved for future community rewards, 23.8% for contributors with a 1 year lock. protocol fees go to the assistance fund to buy hype, and those tokens were officially burned. now about 90% of the usdc reserve yield on hyperliquid goes there too, first payment was $14.58m
what's next
hip-3 lets anyone staking 500k hype launch their own perp market. trade.xyz already lists 100+ markets in stocks, oil and fx, and got the first licensed s&p 500 perp. hip-4 outcome markets are live and hyperevm is getting higher throughput
why people are watching
its perps now show on the bloomberg terminal, ripple prime offers swaps that track its markets, and hyperliquid strategies, the nasdaq listed hype treasury, just lifted its buyback to $100m
my take
fees and stablecoin yield both buying the token is a rare setup. on the 4h it cooled into the mid 70s, reclaiming 80 is my level. personal view not advice
doing one of these every day, follow so you dont miss the next one
which pushes $HYPE further, hip-3 bringing tradfi onchain or the usdc yield buybacks ?