Solv Protocol (SOLV), a prominent platform for Bitcoin staking, recently announced via its official Twitter handle that it had participated in the token auction for ownership of HyperLiquid (HYPE), a decentralized perpetual futures exchange. HyperLiquid utilizes the Dutch auction method for its token auctions, where the initial selling price is high and gradually declines over time. Conversely, the buying price rises steadily. Token auctions occur every 31 hours, facilitating the listing of cryptocurrencies on the exchange. Currently, SOLV's auction bid stands at $128,345.67.