Explaining HyperLiquid, the hot topic of high-value airdrops

2025/02/05 18:09 (Updated 2025/04/23 12:11)
Editors of Iolite
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高額エアドロップで話題のハイパーリキッド(HyperLiquid)を解説

What is HyperLiquid?

As the cryptocurrency market heats up, emerging projects also begin to attract the attention of market participants. It has been reported that many participants received tokens worth millions to tens of millions of yen in the airdrop of HYPE, Hyper Liquid's native token, which took place on November 29, 2024. It was as if a huge amount of money had literally fallen from the sky overnight.

Hyper Liquid is a DEX (decentralized exchange) that is centered on the perpetual futures market and also features spot trading. At the time, the conditions for becoming a HYPE distribution recipient were not officially disclosed, but since Hyper Liquid was developing it with its own funds, there was no movement by venture capitalists to sell it after it was listed, which is probably one of the reasons why the price has been steadily rising.

In fact, after the airdrop, the price of the HYPE token temporarily rose to $7.1 (about 1,063 yen), bringing great profits to users who received it.

In addition, it adopts a blockchain specialized for order book trading and its own consensus algorithm "HyperBFT", shortening the time from block generation to approval to about 0.2 seconds. It adopts an on-chain order book that manages order information on the blockchain, ensuring the transparency and reliability of transactions.

One of the attractions of HyperLiquid is its transaction approval speed, which exceeds the 0.48 seconds of Solana, a representative blockchain that approves transactions quickly.

According to an article on the official blog, HyperLiquid was created with the aim of "providing a trading experience that is fully on-chain and is equal to or better than that of a centralized exchange," and the reason for choosing the order book trading format is that it has the lowest risk of collapse due to centralization or oracle attacks when creating a decentralized DeFi app.

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Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.