Data provider Redstone has released a new report on hyperliquid, the decentralized perpetuals exchange that quickly became the category leader.
In just one year, Hyperliquid has grown to more than 80% of the decentralized Perpsmarkt, with daily trade volumes that are now $ 30 billion, according to the report some of the largest centralized exchanges, according to the report.
Redstone emphasized three structural benefits that underlie the rise in hyperliquid.
The first is the completely on-chain order book that now supplies spreads and implementation speeds on the same footing with centralized platforms.
Secondly, HIP-3, the new framework of the new market creation of Hyperliquid, has created one of the most active builder ecosystems in Defi, with economy for sharing income that developers pay more than the protocol itself.
And thirdly, the double architecture of Hypercore and HyperevM makes completely new financial primitives possible, including Tokenized Perpp positions, Delta-neutral strategies and new tools for liquidity technology.
Hyperliquid Volume (Defillama)
The rise of hyperliquid is an indication of how a lean, self-funded team can surpass venture-backed colleagues by concentrating on technical implementation and incentives for the builder. By linking the performance at CEX level to permissionless technology, Hyperliquid not only positions itself as a trading location, but as a potential backbone for the next phase of chains trade.
The Hyperliquid Network, on which the Hyperliquid DEX is based, has currently locked around $ 2.2 billion in the total value, with the DEX that, according to Defillama, has set $ 330 billion to the cumulative commercial volume.
“Hyperliquid sets a new standard,” notes the Redstone report, with the argument that the double layer design of the platform and the community-driven growth model create “unprecedented opportunities for builders and institutions.”
