Hyperliquid: everything you need to know about HYPE
Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.
Hyperliquid facts
Abbreviation
HYPE
Category
DEX
Founder(s)
Unknown
Blockchain
Own Layer-1 blockchain
Protocol
HyperBFT consensus mechanism
Launch date
2024
Links
What is Hyperliquid?
Hyperliquid is an advanced decentralized exchange (DEX) built on its own Layer-1 blockchain. The platform focuses on providing fast transactions, low costs, and advanced trading options such as perpetual futures. By utilizing a fully on-chain order book and its own consensus mechanism, HyperBFT, Hyperliquid aims to provide a hybrid experience that combines the benefits of both centralized and decentralized exchanges.
How does Hyperliquid work?
Hyperliquid utilizes its Layer-1 blockchain and the HyperBFT consensus mechanism to enable fast and secure transactions without gas fees. The platform supports direct deposits from over 30 blockchains, including Ethereum, Solana, and Base. By implementing a fully on-chain order book, Hyperliquid provides transparency and security, while also guaranteeing low latency and high throughput.
The HYPE token
The native token of Hyperliquid is HYPE. HYPE is used for governance within the platform, allowing holders to vote on proposals regarding protocol development, such as determining fees, technical parameters, and treasury management.
The technology behind Hyperliquid
Hyperliquid is built on its own Layer-1 blockchain that is optimized for DeFi applications. It utilizes the HyperBFT consensus mechanism to enable fast transactions without gas fees. The platform offers a fully on-chain order book, which ensures transparency and security when executing trades.
The Hyperliquid ecosystem
The Hyperliquid ecosystem includes a decentralized exchange that allows users to trade with low costs and high speed. The platform supports spot trading, perpetual futures, and token swaps. By utilizing its own blockchain and consensus mechanism, Hyperliquid provides a scalable and efficient solution for DeFi traders.
€35.984▲0.92%
Benefits of Hyperliquid.
- Fast transactions: Thanks to the HyperBFT consensus mechanism, transactions can be processed quickly without gas fees.
- Low costs: The platform offers low trading costs by eliminating gas fees.
- Transparency: The fully on-chain order book provides transparency and safety when executing trades.
Disadvantages of Hyperliquid
- More limited adoption: As a relatively new platform, Hyperliquid may have less liquidity than established exchanges
- Complexity: For new users, the interface and operation of the platform can be complex.
- Dependency on own blockchain: Dependency on your own blockchain can lead to limited interoperability with other networks.
Who is the founder of Hyperliquid?
Hyperliquid was founded by a team of professionals with experience from renowned institutions such as Harvard, Caltech, and MIT, as well as companies in the technology and financial sectors. The team has substantial experience in blockchain technology and DeFi applications.
Hyperliquid price in the last 24 hours
View all key statistics of the past 24 hours here.
€36.820
€37.080
€34.970
Market information
Use these figures to get a better picture of the Hyperliquid market.
€269.3 million
€12.3 billion
333.8 million
€42.620
Hyperliquid Return On Investment
See how much the price has risen or fallen over the years.
Historical Hyperliquid price
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