The emergence of #HYPE broke the deadlock of "black box listing".
Hyperliquid's popularity in the crypto world can be traced back to the rise of HYPE. It took HYPE only two weeks after its launch to enter the top 50 in market capitalization, surpassing new and old projects such as Fantom and Bittensor, and even Arbitrum itself. Although the Perp DEX narrative is no longer a new narrative, Hyperliquid has successfully focused the market's attention on DEX again.
The coin listing mechanism is indispensable
Just today, HYPE broke through $20, setting a new record high. Behind the new high, on the one hand, it is inseparable from Hyperlqiuid's precise "market aesthetics", which keenly captured the market pulse of "VC to meme" in this cycle. As a project that looks like "VC gathering temperament", Hyperliquid did not follow the old path of VC financing first, then increasing the volume and then listing on the exchange for shipment. Its founder Jeff has also publicly expressed his dissatisfaction with this form and market logic many times.
On the other hand, Hyperliquid's team operations and project development are also online. Hyperliquid's ambition is not limited to PerpDEX, but it is also actively building a "transaction" public chain with low latency, high throughput, high-frequency transactions and order books. When the underlying logic is transformed from PerpDEX to a public chain, its valuation ceiling is also opened.
What has Hyperliquid changed?
As Jeff, the founder of Hyperlqiuid, said, “ownership goes to the believers and doers, not rent-seeking insiders.” The development of Hyperliquid is also in line with this.
Two-way cooperation with the project party
For VC coins, listing Hyperliquid is also a mutually beneficial and symbiotic market behavior. The listing auction itself is also a form of advertising. Solv became the traffic center of market discussion because it won the auction ticker of Hyperliquid without paying additional advertising fees.
For many copycat project developers, it is still difficult to stabilize the market even if some of their projects are listed on major exchanges. If they cannot be listed on first-tier CEXs during the bull market, it is basically difficult to maintain a good-looking "K-line". Without liquidity, there is no traffic, and there is no follow-up story. Most unpopular tokens have become "high heels" or "Christmas trees" after being listed.
Many tokens are difficult to maintain even if they are listed on major exchanges
Hyperlqiuid provides a more economical solution, which can not only meet the needs of the first major exchange, but also "grab a seat" on a good trading platform at a low cost. After the subsequent access to HyperEVM, the tokens purchased from Hyperliquid can be used in other EVMs, which further highlights its relative advantage in cost-effectiveness. Although Hyperliquid does not have the strong listing effect of CEX at present, the SOLV auction event has received widespread market attention, which further highlights its status in the eyes of crypto people.
Hyperliquid's epic airdrop is more like a vigorous market education, allowing more people to know Perp DEX, understand, contact and use it; the transparent coin listing plan is the first shot in the fight against behind-the-scenes operations, resistance, struggle and victory.
From the perspective of the industry, the emergence of Hyperliquid is both a historical process and a choice of the times. Under the call of the masses, the market has voted with its feet again and again for fairness. Hyperliquid's open listing mechanism is a revolution in the existing CEX listing black box operation, forcing the entire industry to become more open and transparent.
The reason why Hyperliquid can succeed is that its open and transparent listing mechanism is also a factor that cannot be ignored!
Founder Jeff no longer trusts CEX after FTX went bankrupt, and does not accept any VC investment. In Jeff's eyes, most projects will first obtain investment platforms from top institutions, then use various so-called points plans to embellish data, and finally complete the final exit by listing on large trading platforms. This industry model seems to have become the ultimate template for most project parties to rise to prominence: write stories, attract investment, and list on large exchanges. In the end, retail investors bear everything and usher in a mess. This kind of industry chaos that is eager for quick success and instant benefits is ultimately unsustainable.
In the end, Hyperliquid witnessed the victory of Jeff's decentralized spirit. The transparent and open mechanism and the strong cohesive community pushed PerpDEX to the climax of 2.0. Jeff can also proudly say: We did not distribute tokens to any private investors, centralized trading platforms, or market makers. The bullet fired many years ago hit the nail on the head at this moment.
$HYPE