Two months ago we gave you an (already outdated) version of the ecosystem of Hyperliquid. One month later and even more builders have joined forces.
A demonstration of how real the hype is and how new names are actively building on the HyperEVM, we therefore are asking you once again for your undivided attention…
These Projects Enter the ‘Chat’…
With some projects doing more novel things than others, all build up to the hype of finding innovative ways to add value to the HyperEVM ecosystem. So let’s see what has been cooking and more importantly who can cook.
Earning Some Honest Yield
Looped Hype recently launched on mainnet and already has over 1M Hype staked, offering a target APY of 10%.
Users deposit HYPE or stHYPE to get LHYPE, while the protocol generates additional yield on top of staking rewards behind the scenes using AutoLoop.
Considered to be the first “Liquid Looping Token” (LLT), the HYPE rewards printer goes PURRRRRRR.
Also launched on HyperEVM, Mizu, a unified liquidity layer, provides a vault.
Users can deposit whitelisted assets like ETH, BTC, and USD stablecoins to earn an honest DeFi yield from participating protocols.
Deposited assets are bridged to HyperEVM via LayerZero and Stargate to be deployed into the Hyperliquid Ecosystem protocols. https://mizulabs.xyz/dapp/vault
Another one is Harmonix that enables harmonious HYPE staking on both HyperCore and HyperEVM and has so far staked 220K HYPE.
With an automated vault called the Crypto Bond, it simplifies the whole process into a set-and-forget long-term yield option.
Users can deposit once and let the vault handle the rest…
Leading Liquid Staking
StakedHype is the liquid staking solution for the Hyperliquid proof-of-stake network. It has $41.2M TVL and 3.2M HYPE staked at 2.1% APY, with a simple < 30-second staking process.
HyperPie, a subDAO of Magpie, has also launched HYPE staking on the Mainnet with a TVL of $1M. It offers a MEME launchpad, a MEME DEX, and even ve(3,3) tokenomics that introduce additional incentives for HYPE stakers.
https://www.hyperliquid.magpiexyz.io/stake
NFT Marketplace
Drip Trade leads NFT trading on HyperEVM with 10 collections launched and over $3M in trading volume.
The leading native NFT exchange also has HypioHL, which migrated from Base to HyperEVM and saw floor prices increase to 3x–10x the original mint priceAlso, the reigning queen on Hyperliquid, LiquinaHL, can be bought with drip.trade
Borrowing & Lending
HyperLend is a decentralized lending platform and wants to provide highly liquid financial services demonstrating this by reaching their funding cap swiftly. https://app.hyperlend.finance/
HyperFi is the lending market with the highest TVL in lending and its own yield-bearing stablecoin $USDXL. Users can deposit assets to earn yield, borrow against collateral, and use looping strategies for leveraged lending.
Felix Protocol, another decentralized borrowing protocol, allows users to mint feUSD, a stablecoin pegged to $1, by using crypto assets like $BTC, $ETH, $SOL, or $HYPE as collateral. With feUSD as the ticker, their testnet is open for users to explore.
Hype AMM’s
HyperSwap is the first native DEX on HyperEVM. It is deeply integrated with most of the top protocols and has liquidity for $stHYPE, $LHype, $UBTC, $USDXL, and even meme tokens.
https://app.hyperswap.exchange/
KittenSwap has been built on the ve(3,3) model and provides liquidity for LST assets such as wstHYPE, mHype, and LHype. Note that 30% of governance tokens are also going to airdrops.
https://app.kittenswap.finance/
Domain Name Services
Want to bid on .hl names in various languages and between 3 and 26 characters long? Well, you can with HLNames that also launched on HyperEVM and provides a unique way to stand out.
Believe (in) the HYPE Ecosystem!
With new projects piling in, it is going to be a hyperactive time, especially when swaps, perps, memes, yield-bearing stablecoins, and even $BTC and $ETH assets are being bridged. You name it, everything hype-ns on the HyperEVM.
The post What’s New in HyperEVM: A Dive into the Latest Projects appeared first on YourCryptoLibrary.