If you ever wondered who is behind Hyperliquid and the product everyone in crypto is talking about, let me introduce you to this absolutely goated team:
Meet 11 people that built one of the most profitable businesses in crypto, something thousands of employees couldnโt.
First of all HL team is a mix of cracked engineers, quants and traders from places like Harvard, MIT,Caltech with backgrounds across Airtable, Citadel, Hudson River Trading and Nuro.
The team used to do proprietary market making in crypto in 2020 and expanded into defi in the summer of 2022.
So who are the people behind Hyperliquid?
โข Jeff Yan @chameleon_jeff founder, ex-HRT quant trader, one of the main architects behind Hyperliquid vision and market structure
โข Iliensinc @iliensinc co-founder/core engineer, infrastructure and backend systems
โข Xulian @xulian_hl core contributor
โข Valinorae @Valinorae engineering and ecosystem contributor
โข Jay Gee @jaygee_hl engineering/product contributor
โข Sterling @Sterling_hl BD lead, prev onchain lead at @circle
โข Ben (ben_hl) core contributor
โข Adam (adam254689) core contributor
โข Kangaroo (kangaroo2245) ecosystem contributor/community side
And few others still remain anon.
Honestly this is such a massive flex for Hyperliquid ecosystem.
A small team of insanely talented people made a whole world talk about Hyperliquid.
Hyperliquid is the third biggest exchange now based on total aggregate open interest of all coins.
Binance: $22.2B OI
Bybit: $10.5B OI
Hyperliquid: $8.5B OI
OKX: $6B OI
HL now has a total OI market share of about 7.2% which is the previous all time high.
Crazy stats.
Top Net Flows (6M) - Artemis Data
+Hyperliquid: +$2.5B (dominant leader)
+Base: 2nd place, but significant gap behind
+Most other chains in Top 20: net outflows (especially Arbitrum, BNB Chain, Solana, Avalanche...)
Capital continues to concentrate heavily into chains with strong real trading activity.The market is clearly picking winners.
#Crypto #OnChain #Hyperliquid
Happy $HYPE all time high friends
New all time highs on Liquid banking too:
- ATH daily transactions
- ATH volume spent
- ATH off-ramps
- 4000+ accounts
Liquid banking is scaling
In the past 24 hours, fees collected reached $1,651,077, and 100% of it is used to buy back HYPE and burn it permanently.
As long as there is a high volume of transactions on the Hyperliquid chain, more HYPE will continue to be burned, making HYPE increasingly scarce.
Hypurr
You are random trader using Hyperliquid
November 2023
- deposit ~$500
- start trading perps
- BTC, ETH, small size
- see a points system, donโt care too much
months go by
- keep trading
- add some liquidity to HLP
- invite a couple friends
- points slowly go up
most people quit but you donโt
November 2024
- rumors of airdrop
- check your account
~545 points
November 29
- open the app
- 2,915 $HYPE
just there and the price is ~$2
few days later ~$9.8
~$28,000
from just using a product
you sell a bit
- take ~$10k
- keep the rest
others made
- $50k
- $100k
- even millions
What you donโt realize is that you were lucky enough to be part of the last great airdrop
HYPE trades at 20x earnings. cme 25x, ice 26x, nasdaq 29x, robinhood 36x, ibkr 38x
Lowest P/E in the set, smallest market cap in the set, ~100% net margin, 14 employees doing $60m of revenue each. Unlike the tradfi names, it is also the only one actually building new product surface.
Cheapest, leanest, most profitable, most innovative
Hyperliquid