Explaining HyperLiquid, the hot topic of high-value airdrops

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.