In just a year, the Hyperlique platform has become a dominant player in the market of decentralized unlimited futures. According to Redstone, it controls about 80% of the market, and the volumes of bidding are comparable to large centralized exchanges. In this regard, there are concerns about how long such dominance can remain.
At the peak, Hyperliquid daily processed transactions for $ 30 million.
The platform, the co -founder of which is Jeff Yang, a former quantitative analysis specialist in Hudson River Trading and Harvard graduate, decided to avoid venture capital from the very beginning. This decision, combined with the right choice of time, allowed Hyperliquid to occupy its niche faster than competitors.
Created by a small team that financed itself and refused to accept money from venture investors, the platform proved that the technical perfection and the economy oriented to the community may surpass well -funded competitors, the Redstone said.
At the beginning of 2024, the Dydx decentralized exchange accounted for about 30% of the volume of bidding. By the end of the year, its share fell to about 7%, while the share of Hyperliquid stabilized above 65%, according to Coingeco.
Apparently, the growth of Hyperlique is largely related to execution. Trade in one click, a zero gas commission and confirmation of orders in less than a second make this platform more similar to a centralized exchange, which helped attract both retail and professional traders.
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Source: Cryptocurrency
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