In the rapidly evolving world of decentralized finance (DeFi), Hyperliquid stands out as a trailblazer, introducing a high-performance Layer 1 (L1) blockchain optimized from the ground up. With a vision to establish a fully onchain open financial system, Hyperliquid aims to integrate user-built applications with performant native components, all while ensuring an uncompromised end-user experience.
At the heart of Hyperliquid's ecosystem is the flagship native application—the Hyperliquid Decentralized Exchange (DEX). This fully onchain order book for perpetual contracts represents a significant leap in the DeFi space, offering users unparalleled speed and efficiency in trading derivatives. Beyond the DEX, Hyperliquid is expanding its horizons with developments like a native token standard, spot trading capabilities, and the introduction of permissionless liquidity pools.
The Hyperliquid L1: A Custom-Built Powerhouse
The Hyperliquid L1 blockchain is meticulously designed around a performant derivatives exchange. This custom-built infrastructure ensures that users can engage in high-frequency trading without the usual bottlenecks associated with traditional blockchain networks. Following the successful implementation of the native spot token standards HIP-1 and HIP-2, Hyperliquid announced a new season of points on May 29, incentivizing users to engage with their L1 blockchain.
Incentive Program Leading up to the ICO
As part of the build-up to the upcoming Initial Coin Offering (ICO), Hyperliquid has rolled out an extensive points distribution program. A total of 700,000 points are being allocated weekly over four months, with the first snapshot covering activity from May 29 to June 4. The points criteria are subject to periodic updates, ensuring that users remain actively engaged. Weekly activity is measured up to Wednesdays at 00:00 UTC, with distributions taking place on Fridays. Notably, there's a 1:5 affiliate points matching system in place, encouraging users to refer others and expand the network. Affiliates are required to reapply to participate in this program.
To reward early and organic usage, an impressive 2,000,000 points per week were distributed for activity from May 1 to May 28. This bonus multiplier underscores Hyperliquid's commitment to fostering a robust and engaged community ahead of the ICO.
How to Participate: A Step-by-Step Guide
For those interested in being part of Hyperliquid's groundbreaking journey, here's how you can get involved:
Connect Your Wallet: Visit the Hyperliquid platform and connect your preferred cryptocurrency wallet.
Fund Your Account: Bridge some USDC to Arbitrum and deposit it into your Hyperliquid account.
Start Trading Spot Assets: Begin earning points by trading spot assets. Navigate to "Trade," select "Instrument," and then choose "Spot" to view the available assets.
Increase Your Trading Volume: The more you trade, the more points you are likely to earn. Higher trading volumes on spot assets contribute significantly to your points tally.
Explore Perpetuals Trading: Expand your trading activities by engaging in perpetual contracts. Go to "Trade," select "Instrument," and then click on "All Coins" to access these options.
Provide Liquidity via HLP: For a more passive approach, consider depositing USDC into the Hyperliquidity Provider (HLP), which supplies liquidity to Hyperliquid's markets. Navigate to "Vaults," select "Hyperliquidity Provider," and enter the amount of USDC you wish to deposit. Be mindful that your deposit will be locked for four days.
Generate a Referral Code: Boost your potential points by inviting others. Create a referral code by going to "Referrals" and clicking on "Create code." Sharing this code allows you to earn rewards when others join and participate.
Stay Updated with Points Distribution: Points are distributed weekly on Fridays. You can check the amount of points you've earned each week by visiting the "Points" section on the platform.
Speculation on Additional Opportunities: There's speculation that holding and trading the PURR memecoin—launched as a test for Hyperliquid's L1—could potentially earn you more points. While the exact formula for earning points remains undisclosed, diversifying your activities on the platform might maximize your potential rewards.
Looking Ahead: The ICO and Beyond
While the exact date of Hyperliquid's ICO is yet to be announced, participating in the platform's activities now positions you advantageously for any future token distributions or airdrops. Engaging with the platform not only accrues points but also immerses you in the innovative features that Hyperliquid offers.
For enthusiasts keen on discovering more projects with potential future airdrops, staying informed is crucial. Keep an eye on emerging DeFi platforms that have yet to release a token—they might offer retroactive rewards to early adopters.
Stay Connected
To ensure you don't miss any updates from Hyperliquid and to stay informed about the upcoming ICO, follow them on social media platforms like Twitter, Telegram, and Facebook. Subscribing to their newsletter is also a great way to receive the latest news and announcements directly.
Conclusion
Hyperliquid is set to redefine the onchain financial landscape with its high-performance L1 blockchain and innovative applications like the Hyperliquid DEX. The upcoming ICO presents an exciting opportunity for investors and users alike to be part of this revolutionary platform. By participating in the current points program and engaging with the platform's features, you can position yourself at the forefront of this new era in DeFi.
Don't forget to follow Hyperliquid on Twitter, Telegram, and Facebook, and subscribe to their newsletter to receive the latest updates!