Hyperliquid Joins Top 10 DeFi Platforms by Locked Value

Four days after its genesis airdrop, the decentralized trading platform Hyperliquid, featuring three protocols within its ecosystem, achieved a TVL of $1.353 billion. This placed the project in 10th position, according to DeFi Llama.

Hyperliquid surpassed Aptos ($1.239 billion) and Polygon ($1.153 billion).

During the airdrop, the team distributed 274,153,917.65 HYPE among 94,028 users.

The distribution was relatively even, according to ASXN Data. The Hyperliquid Foundation assured that no private investors, centralized exchanges, or market makers were among the token recipients.

The ecosystem token HYPE rose by 3.6% in the past 24 hours, ranking 60th by market capitalization at $3.09 billion.

In the DeFi segment, the asset secured the sixth position between Aave and Ethena.

HYPE has become the primary asset for staking within the HyperBFT PoS consensus mechanism and serves as the transaction processing fee in the HyperEVM execution environment. The token will also be traded in pairs with USDC on Hyperliquid ecosystem platforms.

The L1 includes a native DEX module. According to the team, the protocol’s throughput reaches 200,000 TPS.

In November, decentralized exchange turnover on the Solana blockchain exceeded $100 billion.