Mirko

LoopedHYPE (LHYPE) is now live! Earn ~10% APY on your HYPE with one-click. Deposit now ↓ stakingrewards.com/stake-app?inpu… LHYPE is the first Liquid Looping Token. Deposit HYPE to get LHYPE, which represents your staked HYPE (stHYPE) including any associated network rewards, MEV, airdrops, and yield generated from AutoLoop, LHYPE’s automated looping engine. How does LHYPE work? Behind the scenes, your HYPE deposit is used to mint stHYPE. You can choose to attribute your stake directly to any of LHYPE’s Phase 1 validators, inc. @Nansen_ai & @Hypurr_co, @asxn_r, @validaoxyz & @B__Harvest. If you don’t select any preference, the stake will be attributed between all validators equally. Your stHYPE is then looped (recursively staked) via our partner lending protocols such as @hypurrfi, @hyperlendx & @felixprotocol. The looping strategy is fully automated via AutoLoop, which dynamically adjusts leverage (3x–15x) based on real-time staking APYs and borrowing costs. With continuous monitoring, AutoLoop recalculates optimal leverage, deleveraging if loan-to-value (LTV) ratios exceed safe thresholds or ramping up when APYs outpace borrowing rates. AutoLoop is calibrated by professional risk curators to ensure all LHYPE holders get the best risk-adjusted returns. Early Adopter Program LHYPE is backed by a separate governance & utility token, 90% of which will be distributed between ecosystem players and depositors. Early Adopters will earn a share of 4% of token supply for cap 1 only. ONLY WHITELISTED WALLETS ARE ELIGIBLE FOR EARLY ADOPTER REWARDS. Whitelist your wallet (here loopedhype.com/waitlist) then deposit any amount up to 4200 HYPE to automatically qualify for the program. A New Dawn for DeFi on HyperEVM A rich ecosystem of structured products will be built on the HyperEVM, using Hyperliquid LSTs such as @stakedhype & @kinetiq_xyz as a backbone. LHYPE is proud to step into the ring to deliver the best risk-adjusted returns, using staked HYPE as a collateral. In the coming days and weeks, LHYPE will be enabled across a variety native dApps built on HyperEVM. From today you can already stake and unstake LHYPE with @hyperswap. app.hyperswap.exchange/#/stake/LHYPE This is just the beginning. Hyperliquid.

Miami sets the tone. New York raises the stakes. We’re hosting the Digital Asset Yield Summit (@Yield_Summit) across five financial capitals this year: 🇺🇸 Miami, 4 May (applications are closing soon) 🇺🇸 New York, 11 June 🇸🇬 Singapore, 5-6 October 🇦🇪 Abu Dhabi, December 2026 🇨🇭 Zurich, January 2027 Every city is deliberate. We go where institutional capital is managed, not where crypto conferences happen. DAYS is a fintech forum built around one question: how does institutional capital access onchain yield? The room: 300 attendees, 60% capital allocators, 77% C-suite and decision-makers. Every attendee is reviewed. Every session is relevant. Every introduction is intentional. Confirmed speakers and partners include leaders from @Citi, @jpmorgan , @Grayscale, @WisdomTreePrime, @FireblocksHQ, @maplefinance, and more. Miami is less than a month out, and spots are limited.

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We are excited to announce the first 30 speakers of Digital Asset Yield Summit (DAYS) Miami. This is the most institutional and influential line-up ever recorded at DAYS (formerly Staking Summit). Matthew Sheffield (@sheffieldreport) — Chief Investment Officer at @Sharplink Maredith Hannon (@MaredithH1) — Head of Business Development, Digital Assets at @WisdomTreePrime Sidney Powell (@syrupsid) — Co-Founder & CEO at @maplefinance Juan David Mendieta Villegas (@JuanDMendieta) — Co-Founder & CSO at @keyrock Duncan Moir (@Duncanmoir) — President at @21shares Vadim Khramov (@vadimthedream0) — Founder & Chief Investment Officer at @EdgeCapitalMgmt Purvi Maniar — Chief Legal Officer at @LaserDigital_ David Knox — Chief Financial Officer at @HyperionDeFi Anna Dinescu — Managing Partner at @HilbertCapital Peter Suarez Ferrara — Director, Technology Investment Banking, Financial Software at @UBS Investment Bank Bentzi Rabi (@bentzzi) — Co-Founder & CEO at @utila_io Zach Pandl (@LowBeta) — Head of Research at @Grayscale Bhavin Vaid (@RealBhavinVaid) — CEO at @BirchHill_io Jon Campagna (@thecampsishere) — Co-Founder & COO at @NexystDigital Alison Mangiero (@AMangiero) — Head of Staking Policy & Industry Affairs at @crypto_council Michael Ashby (@lonvangen) — CEO at ALGOQUANT Lorien Gabel (@lorientree) — Co-Founder & CEO at @Figment_io Jose Martinez Sanguinetti (@MartinezSang) — Founder & CEO at Sothys Capital Thierry Adant (@tadantm) — Chief Investment Officer at Battery Finance Myles Harrison (@MylesHarrison89) — Chief Product Officer at @AMINABankGlobal David Kinitsky (@Kinitsky) — Chief Corporate Development Officer at @everstake_pool Digital Asset Yield Summit is a curated forum for capital allocators to discover the latest advancements in digital asset yield. The event is invite-only and capped at 300 attendees to ensure we can speak and qualify everyone personally. Join us in Miami, 4 May ↓

Hyperliquid just flipped BNB Chain to become the #3 chain by Staking Market Cap. $17.96B worth of $HYPE staked, 45.08% of supply

Perps eating global financial markets is the highest conviction thesis I’ve had in my 4 years since starting Syncracy. If we’re right, the sector could produce $350B+ in value over the next 5 years, with the winning chain becoming one of the largest platforms in global finance. As shared in our OG Hyperliquid thesis released over a year ago, we believe $HYPE is the fastest horse in this race. While many skeptics view platforms like Hyperliquid as products of regulatory arbitrage, over time we believe they will come to be understood as a fundamental transformation of the global trading stack. What was once a fragmented world of brokers, exchanges, clearinghouses, among other intermediaries, is giving way to integrated trading systems that are continuously margined, atomically settled, globally accessible, and permissionless to build on. The case isn’t just theoretical as early signs of disruption are already visible in the data. In the early months of perps’ “real world asset” expansion they’re already impacting global financial markets — most recently functioning as a price discovery engine on weekends for oil during the Iran conflict. We believe this is only the beginning and that perps will absorb an increasing share of leveraged directional trading that today lives in retail options, CFDs, and fixed-tenor futures. Even low single-digit penetration of these markets could produce dramatic outcomes for the sector. In parallel, it remains under-appreciated how quickly DEXs like Hyperliquid have emerged as leaders in equity and commodity perps. Should DEXs continue scaling these markets, it will accelerate their share gains from the likes of Binance and Coinbase while also positioning them to challenge legacy derivatives venues such as CME, who will struggle to compete due to regulatory and architectural incompatibilities. Finally, as decentralized venues lead the growth of perps, we believe they will also expand into adjacent categories. Perps are the hardest product to nail on blockchains and once a blockchain can successfully host perps it naturally starts to aggregate other crypto use cases as a byproduct. We are already seeing early evidence of this with Hyperliquid’s expansion into spot trading and stablecoins, and soon prediction markets and options. It’s in this sense that perpetual DEXs are also Trojan horses for the financial platform of the future. —— Enjoyed writing this one with @defi_monk who was the first sell-side analyst to cover Hyperliquid in summer 2024 and among the leading thinkers on the sector. Hope you all enjoy what is a very detailed and data-driven piece that was a long time in the making.