Kairo Lin 🧪

| psalm 23:4 |

[Heun @0xheun]

Perp DEX weekly fees peaked at $160.6M (Sep 29, 2025). Now $28.3M, down 82%. 70% of that peak was Aster alone ($111.7M/week). Strip that, the organic market went from $48.9M to $26.7M.

> @Aster_DEX collapsed 99% ($111.7M → $1.54M/week). Hyperliquid dropped 33% ($20.5M → $13.7M), but the ex-Aster market dropped 45%. Incentive-driven volume disappeared. Product-driven volume contracted less.

> @HyperliquidX holds ~50% of perp DEX fees with no close second. @edgeX_exchange (18%) is the only other protocol above 10%. HIP-3 commodities/equities now drive ~40% of HL volume, a revenue line no competitor has. 97% of fees go to HYPE buybacks (~$2M/day).

> Perp DEX fees are contracting, but Hyperliquid's share keeps climbing (~40% Jan → ~50% Mar). If the broader market recovers, Hyperliquid is positioned to capture the upside from a structurally dominant position.

[threadguy @notthreadguy]

THE ANDREW YANG STREAM

MONDAY. 330PM EST

[Ericonomic @ericonomic]

Tomorrow’s US conference is going to be one of the more volatile events of the year.

Fuel for Hyperliquid.

[Eddy @EddyXBT]

Never quitting this app

[Issa @issathecooker]

This is what they want you to believe

Biggest sack of bullshit I’ve ever read

[UltraSolid @ultrasolid_hl]

Earn in fees or $US on UltraSolid when you provide liquidity.

Hyperliquid

[trade.xyz @tradexyz]

DraftKings (DKNG), Hims & Hers Health (HIMS), Costco (COST), and Eli Lilly (LLY) are now live with 10x leverage 24/7, 365.

[zoomer @zoomerfied]

[ ZOOMER ]

SPACEX AIMS TO FILE FOR IPO AS EARLY AS THIS WEEK, AIMING FOR A JUNE LISTING: THE INFORMATION

[Henrik @Henrik_on_HL]

Lighter vs Hyperliquid over the same timeframe

Open Interest & Perps Volume

[jeff.hl @chameleon_jeff]

Huge congratulations to TradeXYZ and S&P for this historic partnership. I'm honored that these teams choose to build on Hyperliquid.

Seeing official S&P500 perpetual futures launch exclusively on Hyperliquid is a validation of everyone's past years of hard work: global access to decentralized finance, perpetual futures as 24/7 price discovery, and Hyperliquid upgrading the existing financial stack to house all of finance.

The S&P500 is synonymous with "the market," a single number that captures the essence of the largest economy in the world. Looking forward to tracking the world's most important financial gauge 24/7 on the most liquid permissionless markets.

[hdf @PaikCapital]

the global token exchange.

man there’s so much to share soon.

godspeed.

[Initia 🪢 @initia]

Kami Onboarding Week is here!

The first 50 new players to purchase a Kami via Zevana in the next 7 days get a 0.01 ETH rebate.

If you’ve been waiting for the right time to try @Kamigotchiworld, this is it.

[Kosgood @kosgoood]

winning the Pump fun BiP Hackathon is only the beginning

over the last week we’ve successfully helped multiple winning teams advance in raising, distribution, and strategy

the build in public model enables teams to execute fast vs. waste time on pitch decks and partner proposals - build in public, get noticed

building in public is the secret to instant distribution, quick validation & being connected to industry leaders who can accelerate your project faster than ever before

8 spaces are remaining. good luck to those who build in public!

[Muyao @MuyaoShen]

NEW: S&P licenses first official S&P 500 perp for round-the-clock trading by a startup most of Wall Street has never heard of. Read more: https://t.co/noD3RtkRzn

[HyperSwap @HyperSwapX]

https://t.co/BrBUHMy8mJ

[steven.hl @_stevenhl]

When you overlay @tradexyz's crude oil ticker with CME's, the recent weekends are interesting. It appears CME's price is the one catching up with Hyperliquid's, not the other way around.

Tangible evidence of real price discovery is happening on Hyperliquid during the weekends.

[800.HL @degennQuant]

I just withdrew money from a Hyperliquid dApp (@hyperbeat) to my Turkish Lira bank account, truly the future of finance

Hyperliquid

🇹🇷🇹🇷🇹🇷

[Omnia π @0xOmnia]

> km:US500 mentioned