Recap of the past week in @HyperliquidX Ecosystem Growth and Market Dominance Hyperliquid has solidified its position as a leader in decentralized derivatives trading, capturing 75% market share in DEX perpetuals and achieving $250B in total trading volume (a 250x increase since launch). Its native token, $HYPE, has surged 50% year-to-date, outperforming Bitcoin’s 35%. The platform’s TVL surpassed $1B at its peak, with users averaging $10M+ in monthly trading volume. Key Product Launches and Updates PUMP Perps: Listed for leveraged trading (up to 3x) on the unlaunched $PUMP token. $PENGU Spot Trading: Now live on Hyperliquid’s platform. CoreWriter: A new tool enhancing DeFi composability, with integrations for LSTs and lending protocols. HyperEVM Interoperability: Full support for all HyperEVM assets, enabling frictionless trading. $1B+ TVL at peak and $10M+ average monthly volume per user. $HYPE Token: Outperformed Bitcoin with a 50% gain (vs. BTC’s 35%). $PUMP Volume: Surpassed Binance’s prelaunch trading activity, highlighting Hyperliquid’s dominance in speculative markets Technical Innovations: The Hyperliquid Stack The protocol’s infrastructure combines three core components: HyperBFT: A custom consensus mechanism enabling 0.1-second median latency and processing up to 2 million orders per second. HyperCore: A Layer-1 blockchain optimized for on-chain order books, margin management, and clearinghouse functions. HyperEVM: An Ethereum-compatible environment supporting 140+ protocols across DeFi sectors (e.g., AMMs, lending, derivatives) with seamless asset interoperability. Strategic Partnerships and Builder Codes The partnership with @phantom (Solana’s leading wallet) has driven rapid adoption: - Phantom Perps allows users to trade 100+ markets with up to 40x leverage directly in the wallet. - Unit streamlines funding: Users deposit $SOL via a single transaction, which is converted to USDC on Hyperliquid’s spot market and transferred to perp accounts. - This integration onboarded 3,000+ users in one day, with projections suggesting it could scale to 10M+ Phantom users. Builder Codes and HIP-3 Builder codes enable front-ends to share fees permissionlessly, creating a decentralized growth flywheel. The upcoming HIP-3 will allow third-party developers to launch custom markets (e.g., stocks, prediction markets), further accelerating ecosystem expansion Outlook Upcoming HIP-3 mainnet launch (permissionless perps) and potential Season 2 airdrop could further accelerate ecosystem growth, with $HYPE positioned as both a governance token and collateral asset.