A Quick Overview of Popular Projects in the Hyperliquid Ecosystem

CN
3 hours ago

Original | Odaily Planet Daily (@OdailyChina)

Author | Asher (@Asher0210)_

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

HyperSwap: Leading DEX in the Hyperliquid Ecosystem

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

HyperSwap is the native DEX in the Hyperliquid ecosystem, currently with a TVL of nearly $80 million and a daily trading volume between $50 million and $60 million. Its product vision is to bring the essence of DeFi to the HyperEVM chain and provide efficient, permissionless tools for ecosystem users.

Currently, HyperSwap is still conducting point activities, including HyperSwap points and loyalty points. Users can earn points by participating in LP activities on the platform, which may lead to future token airdrops.

Kittenswap: Leading DEX in the Hyperliquid Ecosystem

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

Kittenswap is a leading DEX in the Hyperliquid ecosystem, currently with a TVL exceeding $30 million and a daily trading volume between $10 million and $20 million. Users can provide token liquidity on the platform to earn corresponding point rewards, which may lead to future token airdrops. To encourage user participation, Kittenswap's official plan is to increase the token airdrop ratio from 30% to 35%.

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

Illustration of Point Activities

Currently, the Kittenswap point activity has ended, and other point-related activities may be announced soon, which is worth paying attention to.

Unit: Cross-Chain Project in the Hyperliquid Ecosystem

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

Unit is a cross-chain project on Hyperliquid that supports seamless access to various assets. It currently supports the flow of crypto assets such as BTC, ETH, SOL, and FARTCOIN between Hyperliquid and its native blockchain. With Unit, Hyperliquid users can:

  • Deposit BTC, ETH, SOL, and FARTCOIN directly from personal wallets or trading accounts into Hyperliquid;

  • Trade, transfer, or otherwise utilize these major assets and existing assets on Hyperliquid's spot order book;

  • Withdraw assets directly to addresses on the native blockchain of the corresponding asset.

According to community feedback, Unit may issue tokens in the coming months, allowing deposits and withdrawals of BTC, ETH, SOL, and FARTCOIN on its platform, or trading these four assets on Hyperliquid.

Felix: Leading DeFi Project in the Hyperliquid Ecosystem

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

Felix is a DeFi protocol deployed on Hyperliquid L1, dedicated to providing users with secure, low-friction, and risk-controlled liquidity release and yield acquisition methods. The platform currently offers two core functional modules:

  • CDP Market: This is a lending system based on the Liquity v2 architecture, where users can mint the platform's native stablecoin feUSD by collateralizing assets (such as BTC, HYPE). This market aggregates feUSD borrowers and stable pool depositors to form a stable currency market;

  • Vanilla Market: This is a real-time matching market for asset lenders and collateral borrowers. Unlike the CDP module, the Vanilla market does not set fixed interest rates or provide redemption mechanisms; the lending rates are fully adjusted automatically based on capital utilization, making it more market-oriented.

Currently, Felix is conducting a point incentive activity. Users can earn points not only by minting feUSD stablecoins through collateralized assets but also by depositing feUSD into the platform's stable pool to earn additional points for future airdrops or other reward mechanisms.

HypurrFi: Leading DeFi Project in the Hyperliquid Ecosystem

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

HypurrFi is a platform focused on providing decentralized financial lending and yield enhancement services. HypurrFi allows users to deposit native Hyperliquid assets and borrow USDXL for leveraged returns. Its main application features include stable returns, earning yields on staked assets, lending, and circular operations. It aims to stabilize volatile returns into the USDXL stablecoin backed by UST, with the current annual borrowing interest rate for USDXL at 16.18%.

The specific ways to participate in HypurrFi interactions are as follows:

  • Collateralized Lending: Use assets like HYPE as collateral to borrow the platform's stablecoin USDXL, closely monitoring the account's "health" to avoid liquidation due to low collateral ratios;

  • Treasury Deposits: Deposit USDXL into the treasury to not only earn stable returns but also accumulate HypurrFi points for future rewards or activity exchanges;

  • Trading Participation: Engage in token exchanges or other trading operations on the HypurrFi platform to enhance the on-chain activity of personal accounts;

  • Cross-Chain Interaction: Support transferring assets from other chains into the platform via HypurrFi's cross-chain bridge to participate in more ecosystem activities.

HyperLend: Leading DeFi Project in the Hyperliquid Ecosystem

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

HyperLend is a lending protocol in the Hyperliquid ecosystem, with a current TVL exceeding $300 million, making it the second-largest protocol in the entire HyperEVM ecosystem after Hyperliquid. The current ways to participate in interactions are:

  • Participate in platform lending: Deposit assets like BTC, ETH, or HYPE to provide liquidity for the platform, earning annual returns and point rewards;

  • Invite friends for commissions: Invite friends using an invitation code to earn commissions and invitation points.

Drip.Trade: Hyperliquid Ecosystem NFT Market

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

Drip.Trade is the NFT market in the Hyperliquid ecosystem, covering the full-service process for NFTs in the Hyperliquid ecosystem, from issuance to trading, all in one place. Currently, almost all NFT projects in the Hyperliquid ecosystem are launched through this platform. The current ways to participate in interactions are:

  • Buy and sell NFTs to boost trading volume: Use HYPE tokens to buy and sell popular NFTs on Drip.Trade to increase trading volume;

  • Hold official NFTs for airdrops: Hypers is the official NFT of Drip.Trade, with a current floor price of 4.6 HYPE and a total of 8,888 NFTs.

Quick Overview of Popular Projects in the Hyperliquid Ecosystem

Hypers NFT Collection

In addition, the higher the loyalty, the more points are added, up to 100%. When a user has 100% loyalty and a trading record of 25 HYPE, they can check in daily on the platform and play the spin game to earn more points.

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