HYPE/USD (-5.27%)
HyperLiquid is a Li blockchain that helps scale and improve performance for DeFi services. Its down-up architecture enhances the efficiency and speed of transactions. Users of the blockchain can trade in futures directly from the blockchain, which helps eliminate gas fees. Transactions on the network are done using a native HYPE token. The token allows for staking and is used for governance in the ecosystem.
A group of Harvard graduates started the project to address scaling issues on networks. This token has received positive feedback across various forums and has been proven safe for use.
A Bit About Hyperliquid
Hyperliquid (HYPE) can be described as a DeFi transaction accelerator or just a faster, cheaper transaction option for traders. It was formed by a group of Harvard classmates led by Iliensinc and Jeff, who worked in various online service providers like Citadel and Airtable. They later joined the DeFi market in 2022 and discovered that there were delays due to different protocols.
The team created a decentralized LI blockchain for easy transactions with DEXes. This product stands for ease of transaction, cheapness, and speed, the qualities that are often lacking in most blockchains. It can be used in any DeFi that accepts the Hyperliquid blockchain for transactions.
Scaling DeFi and enhancing performance at speed!CryptoLists.com
Hyperliquid (HYPE) is a decentralized, novel-layer L1 blockchain that enhances the performance and efficiency of decentralized finance (DeFi) applications. It is engineered from the ground up to optimize its scalability and performance. The blockchain has a coin called HYPE, which acts as the governance token and is used for trading on the network.
This blockchain uses a proprietary consensus mechanism called HyperBFT to ensure that transactions are completed on time. This mechanism speeds up the verification and recording of transactions so that users can finish up processes as soon as they start them.
Another standout feature of the blockchain is support for perpetual exchange services. Traders can do perpetual futures trading directly on the native L1 blockchain. This way, it eliminates the expensive gas fees for transactions within its network. That is not all. The blockchain has a fully on-chain order book for trading. This ensures all transactions with DeFis are verified on the network for greater security.
Utility of Hyperliquid?
HYPE has several uses within this ecosystem, all focused on trading. First, traders can use HYPE to access liquidity pools. Access to these pools allows them to execute trades with minimal slippage and increases their potential returns. Second, Hyperliquid has introduced staking opportunities to assist in the validation of transactions. Here, traders can earn passive income from the staked assets.
There are many benefits to using blockchain. First, the speedy transactions and zero gas fees ensure that traders execute their decisions as soon as they make them without spending a lot. Second, since it allows for the buying of futures, traders enjoy seamless trading on DEXes with low effort. Third, users enjoy a secure ecosystem where their digital assets are hard to access for malicious individuals.
Hyperliquid Price details
›› HYPE tokenomics and social media
Advantages of Hyperliquid
+ HYPE offers high liquidity to enable seamless trading experiences+ It has almost no costs compared to traditional exchanges in the market
+ HYPE holders have a chance to stake coins and earn passive income
+ The coin and ecosystem are easy to use and navigate
+ This ecosystem has an active community that offers support and engagement
Disadvantages
- There are potential risks that are associated with trading on DeFi applications- HYPE is a niche product with little application beyond the DeFi marketplace
- This is a limited awareness of the coin compared to more established ones
- HYPE is a new token with little historical data for analysis
- You need to have an understanding of the DeFi systems to use this ecosystem.
Costs
▪ Rated at 10/10HYPE does not charge gas fees for traders. As explained earlier, the network facilitates perpetual futures trading directly on the L1. This means that traders are not required to transfer assets to Dexes for trading, effectively eliminating the gas fees. However, traders may incur other costs within the DEXes that they are transacting in for using other services like Multi-Sig and HyperEVM.
Reputation and Buzz
▪ Reputation rated at 8.5/10▪ Buzz rated at 9.5/10
As you may have noticed, HPYE is a pretty niche crypto solution. So, you may not have heard about it in many outlets. However, it has received considerable coverage across various forums and news outlets. One of the reasons that enabled it to gain wide coverage is that it offered a practical solution to traders in the DeFi marketplace. Additionally, its super-fast transaction speed also raised interest in the crypto market.
Over the time it has been in the market, the blockchain has continued to receive positive coverage, especially with the addition of new services such as staking, multi-sig, and Bridge. With the increase of DeFi products in the market and the continued expansion of its services, we expect more product coverage in the coming days.
FAQ
How is Hyperliquid kept secure?
Hyperliquid uses a custom consensus algorithm called HyperBFT. This mechanism has the same validator support as the underlying Layer 1 infrastructure. This ensures that all transactions are fast while being processed in a secure and decentralized manner. Additionally, its Ethereum Virtual Machine (EVM) Bridge is also safeguarded by this validator set. Therefore, there is no chance that holders may lose their tokens or data.
Where do you use Hyperliquid tokens?
You use the HYPE tokens on on-chain financial systems. This ecosystem supports user-built applications that interact with high-performance native components. It supports DeFi applications on Ethereum using its EVM. You can also make native transfers and participate in system contracts. Additionally, the token can be used for staking. Staking provides assets to validators, where users receive returns for holding out their tokens.
Where do I buy HYPE?
HYPE is sold on several decentralized exchanges on the internet. You can buy the token on exchanges too. Depending on the exchange policies, you can buy it with fiat money or other cryptocurrencies.
History of Hyperliquid
November 2024 - Hyperliquid is launched to enhance performance and scalability in DeFi trading. It offers users the chance to reduce transaction costs.
December 2024 - HYPE starts trading on various exchanges. This allows holders to easily buy the coins.
December 2024 - HYPE introduces other services, including HypeEVM, a bridge, and Multi-Sig, to enable easy and seamless transactions on various applications.
December 2024 - Hyperliquid creates staking opportunities for holders. Now, users can earn money by staking the coin to validators on the network.
Screenshots from Hyperliquid
More sites where to buy/sell/trade Hyperliquid
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
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