Liquid Terminal

In @HyperliquidX, everyone is on the same level playing field while Jeff and team constantly ships disruptive innovations as the industry leader. Community members like @Yaugourt @androolloyd reverse engineer testnet deployments to find out updates. In any other ecosystem you would have MNPI insiders hyping up an announcement of announcement waiting to dump on you. The $HYPE integrity premium is not priced in.

Doing taxes and realized I paid about ~$70,000 in fees on Hyperliquid Though, the csv export initially said closer to $400,000 For some reason spot purchase fees are wildly inconsistent and not true... @HyperliquidX please fix

If you're running volume on Hyperliquid, you've likely hit the 10k trade export limit. As of today, we are making a full trade export available. Pull your full 2025 trade history as a CSV file Free. No sign-up. (delegate to @EnigmaValidator for support) Hyperliquid.

if you want HIP-3 stats in real time liquidterminal.xyz/market/perpdex

🔥 The last 30 days have been absolutely intense in the Hyperliquid ecosystem. If you haven't been paying attention, you're already behind. Let's fix that with a complete recap. 1/ HIP-3 Growth Mode is live The team announced a major upgrade: deployers can now activate Growth Mode on their perps for a ≥90% fee reduction. Baseline taker fees drop from ~0.045% to 0.0045%-0.009%. This stacks with aligned stablecoin discounts and staking tiers. The catch? Markets must be entirely disjoint from validator-operated perps. No crypto, no crypto indexes, no ETFs. This prevents parasitic volume and bootstraps genuinely novel markets. Felix and XYZ (Unit) already activated it. Hyperliquid Docs : x.com/HyperliquidX/s… CoinDesk (annonce Growth Mode) : coindesk.com/markets/2025/1… 2/ USDH becomes the first Aligned Quote Asset Native Markets upgraded USDH to Aligned status on November 24th, one day after staking 800K additional HYPE to qualify. What traders get: 20% lower taker fees, 50% better maker rebates, +20% volume contribution toward fee tiers. They also sent $70K USDH to the assistance fund as a voluntary retroactive contribution. First mover advantage secured. Native Markets announcement : x.com/nativemarkets/… Transaction assistance fund : app.hyperliquid.xyz/explorer/tx/0x… CoinGecko (USDH deep dive) : coingecko.com/learn/what-is-… 3/ HIP-3 deployers are shipping Three builders are now live: → XYZ (Unit): XYZ100, TSLA, NVDA, GOOGL, PLTR, META, AMZN, MSFT, AAPL — all paired with USDC. XYZ100 crossed $100M in volume. GOLD, HOOD, INTC, COIN, ORCL, AMD, MU coming soon. → Felix Protocol: TSLA/USDH live, NVDA/USDH and COIN/USDH in the pipeline. First deployer using USDH as collateral. → Ventuals: SPACEX/USDH and OPENAI/USDH — pre-IPO exposure on private companies. ANTHROPIC/USDH next. Kinetiq also linked their Twitter to @markets_xyz, signaling they're exploring the HIP-3 path too. 4/ BLP spotted on testnet The team is testing something called BLP (likely BorrowLendingProtocol) on Hypercore testnet. Functions include borrowing, supplying, and withdrawing. Currently only USDC and PURR are available. Speculation: this could be the underlying layer for safe multi-margin. Cross margin is explicitly planned for HIP-3, and BLP might be the foundation. No official confirmation yet. @mlmabc: x.com/mlmabc/status/… BeInCrypto : beincrypto.com/hyperliquid-is… Coinpedia : coinpedia.org/crypto-live-ne… 5/ Major staking movements Paradigm staked 14.7M HYPE ($581M) — the largest single staking event in Hyperliquid history. Long-term conviction from DeFi's biggest HYPE holder. On the other side, the team wallet unstaked 2.6M HYPE ($85.8M) about 29 hours before the first cliff unlock on November 29th. Important: unstaking ≠ selling. The 8-day unstaking queue (1 day undelegation + 7 days withdrawal) means tokens aren't liquid immediately. Could be staking rewards moving to personal wallets, OTC, or liquidity provision. First cliff unlock: 9.92M HYPE (~$308M) on November 29th, starting 24-month linear vesting. Paradigm stake : coincu.com/news/paradigm-… Team unstaking : hypurrscan.io/address/0x43e9… Hyperliquid staking docs : hyperliquid.gitbook.io/hyperliquid-do… First unlock info : weex.com/news/detail/hy… 6/ CCTP V2 goes live on HyperEVM Circle launched native USDC + CCTP V2 on HyperEVM. This means burn-and-mint mechanics instead of wrapped tokens, near-instant transfers (seconds vs 13-19 min on V1), and seamless deposits from 17+ blockchains. The Arbitrum bridge isn't closing, but its role is now reduced. Native minting removes the wrapped token dependency. USDC/HyperEVM testnet deposits and withdrawals between HyperEVM and Hypercore are also live — full interoperability incoming. Circle announcement : x.com/circle/status/… Crypto Briefing : cryptobriefing.com/native-usdc-in… Circle blog (CCTP V2) : circle.com/blog/cctp-v2-t… 7/ Token launches accelerating → Kinetiq ($KNTQ): Genesis event November 27th at 12:00 UTC. 25% allocated to airdrops (24% kPoints, 1% PURR holders). → Hyperbeat ($BEAT): Announced their token. Addresses with Hearts and/or Hypurr NFT are eligible. → Harmonix ($HAR): 50% airdropped to community including Hypurr NFT holders. Public sale on Sonar by Echo, December 1st. Kinetiq genesis : x.com/KinetiqFND/sta… Hyperbeat $BEAT : x.com/HyperbeatFND/s… Harmonix $HAR : x.com/harmonixfi/sta… 8/ Ecosystem tooling levels up ASXN launched an all-in-one dashboard at hyperscreener.asxn.xyz — one of the most comprehensive I've seen. HyperCore/HyperEVM revenues, volumes, trader analytics, vault screening. Now integrated directly into the Hyperliquid frontend. 9/ Institutional moves Hyperion DeFi Inc ($HYPD) entered a $500M stock offering on November 14th through Cantor Fitzgerald and Chardan Capital. First publicly-listed U.S. firm building DeFi strategies on Hyperliquid. 10/ Arbitrum bridge update The bridge isn't dead, but its relevance is fading. With CCTP V2 live and native USDC minting available, the primary dependency is gone. 30 days. Native lending on testnet. 90% fee cuts for new markets. First aligned stablecoin. Pre-IPO stock perps. $581M institutional stake. Native USDC cross-chain. The house of all finance is being built. Hyperliquid. Sources: Hyperliquid docs, @nativemarkets, @felixprotocol, @ventuals, @tradeperps, @KinetiqFND, @HyperbeatFND, @harmonixfi, @asxn_r, @circle, hypurrscan.io, liquidterminal.xyz, @hydromancerxyz, @mlmabc