If you have been following recent crypto news, you may have noticed frequent surge notifications mentioning a project called HyperLiquid, with its token being HYPE.
HyperLiquid, as the first derivatives market + public chain project, was launched on November 29.
I found that the main questions online about the project are several:
1. Why has this project never been heard of before and suddenly surged?
2. I can't find it on the exchange, where should I buy it?
3. If the valuation is HYPE, what opportunities are there afterwards?
There are many questions, so I will divide the content into two articles. This article introduces the HyperLiquid project and how to purchase it. The next article will focus on what opportunities exist within the HyperLiquid ecosystem.
A project that everyone missed
When I first heard the news about HyperLiquid's dramatic rise, most people felt confused. Perhaps only seasoned traders who often engage in such activities knew about this project. However, even those who knew it before only had a very small number of people who received the airdrop.
Why is this a project that everyone missed? Ultimately, it’s because the project did not accept any VC financing, which led the media or KOLs to lose the standard for judging the project's quality — generally, the more projects, the more favorable the investment is perceived, leading to skyrocketing valuations.
In fact, it is precisely because I know that everyone missed this that I initially started paying attention to the HyperLiquid project.
The launch date for the HYPE token is November 29, and it was only around $3 at the time of launch. After I noticed it, I adopted a pyramid investment strategy, and my final position cost was around 6, which is higher than the 4.4 shown, with the latter being posted on December 1. I later increased my position, raising my cost basis.
What is HyperLiquid?
But what exactly is HyperLiquid? Why has it experienced such a surge?
HyperLiquid is a DEX that encompasses both contract trading and spot trading, with its own Meme in the ecosystem, and it will also become an L1 public chain.
Therefore, these four tags: contract trading, spot trading, Meme, and L1 public chain, each of which is sufficient to stand alone, are now combined in one project.
Since this is also the first appearance of a DEX + public chain project in the market, even this valuation structure is worth rethinking: is it benchmarking against UNI's DEX or ETH's public chain? Or is it a combination of both?
So why is HyperLiquid viewed positively? Mainly for a few reasons.
1. A new thing combining DEX and public chain, bringing huge valuation space.
2. Due to the absence of VC financing, the project does not have significant selling pressure.
3. The team has a quantitative background, and the project has been profitable from the start, making it a wealthy team.
How to buy HYPE tokens?
Another reason many people missed out is that they didn’t know how to purchase tokens, as there are currently no spot markets for HYPE on exchanges.
Although several exchanges offer pre-market trading, I still strongly recommend that you purchase HYPE on the HyperLiquid official website, as this project is an on-chain exchange. Only by truly experiencing it can you know how good it is.
Moreover, the ecological opportunities I will introduce later can only be purchased within HyperLiquid.
Purchase Steps
It is recommended to operate on a PC, but if you have the Ok Wallet or Metamask on your phone, you can also operate it.
Visit the official website: app.hyperliquid.xyz/join/TRADEMORE
1. Connect your wallet, switch to Chinese in the upper right corner, click on Portfolio, and then click on the link created below Deposit.
2. After confirming in the wallet pop-up window, click on Deposit again, and then fill in the amount of USDC to deposit in the pop-up window on the page (at this point, it will switch to the ARB chain, so you need to withdraw USDC to this wallet on the Arb chain from the exchange in advance).
3. Click on Trade, fill in the transaction amount, and complete the purchase.
