You think raising $1b at $4b val is bad from Pumpfun? It gets worse.
Wait until you all find out that the token utility is that they’ll ONLY use 25% of the revenue to buy the token.
EXTRACTION.
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May was a good month for Hyperliquid.
MoM buybacks: +63% growth (May - $67.6m; April - $41.5m)
The triple threat of increased platform usage (thank you James Wynn), market volatility due to new BTC ATH, and the new fee schedule made May an ATH in fee generation.
Hyperliquid
1/ @pumpdotfun has built one of crypto’s largest trading platforms—launch a token in seconds, no code or wallet setup required.
Powered by Privy’s seamless onboarding + <20ms one-tap trades, they’ve onboarded millions and enabled $1B+/week in volume.
Let’s dive in 🧵
Post mortem of a (almost) 1 million dollar profit HFT strategy
In the summer of 2023 I started posting some monthly screenshots of this (at the time) 40+ sharpe ratio HFT strategy. I used to only publish % returns, but if you ever wondered what the $ amounts were, there you go:
while every other launchpad is trying to max extract from devs and the community
LetsBONKfun is actively focused on rewarding creators and holders instead
it’s the only launchpad that directly rewards successful devs on its platform with cash payments (in liquid USDC) through regular competitions and incentives
not stopping there, they just announced that they’ll be actively buying top tokens launched on the platform with a portion of platform revenue
considering BonkFun has generated ~$6 million in fees over the past month at current SOL prices (that’s ~$72 million annualized)
even the tiniest fraction could make a massive difference for small cap tokens launched on the platform
i honestly can’t imagine why anyone would still choose to launch outside of BonkFun anymore, tbh
When HyperSwap Beta launched, the mission was to provide seamless, on-chain liquidity from day one as the first native AMM of the HyperEVM. Today, that mission is scaling up as we build a full-spectrum liquidity hub, fully integrated into the HyperEVM ecosystem and deeply connected to the native capabilities of the HyperBFT.
The new HyperSwap season of points starts today, introducing a broader vision, fresh objectives and welcome new features. 800,000 points will be distributed weekly for 2 months. The first distribution will be for June 1.
A new multipliers system will boost rewards for selected pools that drive the ecosystem growth. This feature reinforces HyperSwap’s vision of a dynamic, efficient, and strategically aligned liquidity hub at the core of the HyperEVM.
@HypioHL holders and OG users benefit directly from a 1.1x multiplier.
500,000 points per week will be distributed for activity from May 12 - 28. This bonus distribution, labelled as Loyalty Points, is to reward organic usage.
RUBIO: U .S. WILL BEGIN REVOKING VISAS OF CHINESE STUDENTS, INCLUDING THOSE WITH CONNECTIONS TO THE CHINESE COMMUNIST PARTY OR STUDYING IN CRITICAL FIELDS.
From 15% to 83% market share in one year.
$HYPE is now processing ~$190B/month—more than Robinhood’s ~$145B total volume across equities, crypto, options, and margin in March.
Revenue up → TVL up → Price up.