Hyperliquid started 2024 as a barely-known perp dex and ended the year as one of the largest decentralized financial hubs, processing billions in volume per day with a thriving ecosystem of builders, traders, and community members.
Thank you to everyone who came together for a record-breaking 2024. All of this was achieved without taking any external funding and giving all trading fees to the community. Part of what makes Hyperliquid special is how the community is its strongest advocate and the largest beneficiary of its success. It's humbling to see Hyperliquid's vision resonate with so many of you.
Hyperliquid was built with a strong belief in returning to the core ethos of crypto - changing entrenched and predatory centralized practices to be fair and permissionless. In 2025, even more builders and users will join the flourishing ecosystem on a mission to house all finance.
Looking back on 2024, some milestones and metrics are highlighted below.
Notable product and tech releases included:
+ Native spot token standards: HIP-1 and HIP-2
+ HyperBFT consensus
+ Testnet EVM
+ Builder codes
+ HYPE genesis event
+ Staking
Teams built exclusively on Hyperliquid. Some highlights include:
+ HypurrFun, an app where you can launch and trade memecoins, snipe new launches, access whale chats, and form your own cabal to compete against others
+ pvp. trade, a Telegram bot where you can trade and share alpha with your clan and against others
+ HypurrScan, an explorer that makes it easier to investigate popular features of the blockchain, such as token auctions, token holders, TWAPs, and more
+ Many projects chose to launch natively, such as VAPOR and FARM. Cults formed around memecoins like CATBAL and PIP
Projects integrated Hyperliquid:
+ Bridges: deBridge, Synapse, HyBridge
+ Analytics: DEX Screener, Velo, ASXN, PURR Burn / HYPE Burn, Coinalyze, HyperDash, HyperScanner, Hypervisor
+ Trading terminals: Insilico, Sandwich, Tealstreet, ChainPro, Newsly
+ Trading software: CCXT, Hummingbot, Katoshi
+ Trading apps and aggregators: Okto, RageTrade, Vooi
+ Copytrading: STFX, Copin
+ Notifications: Notifi, Push
+ Portfolio trackers and journals: Octav, Tradestream
+ And many more. Note: This only includes mainnet deployments. This does not include the many projects already building on the testnet HyperEVM
Grassroots initiatives took off:
+ HypurrCo, a community-led collective that organized events and spread awareness about the ecosystem
+ HyperActive, an investor syndicate supporting early stage projects building on Hyperliquid
+ Hyperliquid KR, a passionate community of Korean users
+ And many more community-led regional groups
Quantitatively, a lot changed since 2023:
+ $1B 24h ATH volume to $15B (15x)
+ $178M open interest to $4.3B (24x)
+ $56M TVL to $2.1B (37x)
+ 31k users to 300k (9x)
+ 100 perps to 158 perps and 128 native spot assets
+ 24h revenue from trading fees and spot auctions exceeded $3.5M
Thank you to all the teams who played a part in Hyperliquid’s growth.
First descendant of our $FIRED ancestor in $FARM.
Go and generate yourself a resident by breeding Cluckleberry and you'll have a spot in our guild.
https://t.co/h9EVVPEZuE
Also fetch sum $FRIED at: https://t.co/f8hlBebyNw
First descendant of our $FRIED Cluckleberry is alive on $FARM.
We will run a big guild with several ancestors and their descendants soon.
If anyone wants to join our Guild feel free to mint a descendant and share it with us.
$FRIED on the cover of $FARM let's go!
We will train him to be one of the most skilled residents, betting on him will be a must!
Looking for other residents to join our $FRIED guild and develop our $FARM beyond all expectations.
Voted for The Ancestors #3 Successfully! Welcome to @thefarmdotfun, the first GenAI game on Hyperliquid! Join the $FARM trenches now 👀👀👀 https://t.co/optLmwhECO
Here we go, one of the top 50 ancestors currently, let's get $FRIED in the list of farm residents.
We just implemented RFP-1: Update The Ancestor voting mechanism, https://t.co/TuAQe85tOi
TL;DR
- Previous votes are not impacted
- Your total number of votes are calculated based on $FARM balance snapshots taken at random times, given by the HL team (ie team can't game the game)
TGE post mortem:
- We got the best fill on snipers, more than 100k USDC sniped HYPE bellow $3
- All dumpers worked perfectly
- Dozens of people saved their HYPE thanks to the Swiper
- LPOINT holders have received their HYPE
Congrats everyone, gl and hfun
What a start. $HYPE will go down as the greatest airdrop in history.
This is all without ANY CeX liquidity. Without any VC's having bags.
Imagine when CeX's list. Either they do, or they get mass withdrawals as people flock to the next big thing in crypto since BTC.
Hyperliquid season (cycle) is starting.