Hyperliquid (HYPE): Binance Onchain? Apakah Layak Hold? | Indonesia

Summary

HyperLiquid is an innovative Layer 1 blockchain designed for high-performance trading, offering unmatched scalability with the ability to handle up to 100,000 transactions per second. With its decentralized exchange (DEX) model, it provides a seamless user experience similar to centralized exchanges like Binance, but on-chain. Key features include perpetual and spot trading, liquidity provision, and advanced EVM compatibility. The platform has seen significant growth in trading volumes and open interest, positioning itself as a dominant player in the decentralized finance (DeFi) space. Anticipation builds around its upcoming token launch and the potential for global validator distribution, which promises enhanced decentralization and continued innovation.

Takeaways

• 😀 HyperLiquid is a decentralized exchange (DEX) built on a custom Layer 1 blockchain designed for high scalability and performance, capable of handling up to 100,000 transactions per second, with plans for millions.
• 😀 HyperLiquid’s blockchain features sub-second latency, enabling an efficient on-chain order book system that rivals centralized exchanges like Binance in speed and performance.
• 😀 The platform’s consensus mechanism, HyperBFT, allows HyperLiquid to process up to 2 million transactions per second, ensuring high performance for decentralized trading.
• 😀 HyperLiquid supports Ethereum Virtual Machine (EVM) compatibility, allowing the use of ERC-20 tokens directly on the platform, with opportunities for developers to build decentralized applications (dApps).
• 😀 The upcoming launch of HyperLiquid’s native token, Hype, will provide users with opportunities for staking, governance, and participation in platform incentives.
• 😀 HyperLiquid has quickly gained popularity, representing 25-35% of daily trading volume in the decentralized perpetual futures market, a significant increase from 3-7% a year ago.
• 😀 The platform has processed over $6 billion in 24-hour trading volume and close to $400 billion in cumulative trading volume, showing strong growth and adoption.
• 😀 HyperLiquid's team, including experienced founders from Harvard and high-frequency trading backgrounds, has been critical in building a fast, secure, and scalable platform.
• 😀 Users can participate as liquidity providers (HLP) by depositing USDC, earning trading fees with annual returns of up to 22.56%.
• 😀 The platform has faced early centralization concerns with just four colocated validators but plans to expand to 40 globally distributed validators to decentralize further without sacrificing performance.
• 😀 The anticipated launch of the Hype token has sparked interest in the community, with a potential airdrop and a projected fully diluted valuation (FDV) of $3-4.5 billion, possibly valuing each farming point at over $20.

Q & A

What is HyperLiquid and how does it differ from traditional decentralized exchanges (DEXs)?

HyperLiquid is a Layer 1 blockchain built specifically for decentralized finance (DeFi) and high-performance trading. Unlike traditional DEXs, it offers an on-chain order book with sub-second latency, high liquidity, and scalability, allowing it to provide a seamless user experience similar to centralized exchanges (CEXs) but with the added benefits of decentralization.

What makes HyperLiquid’s blockchain performance stand out?

HyperLiquid’s blockchain is designed to handle 100,000 transactions per second (TPS), with the potential to scale to millions of TPS. This high-performance capability ensures fast trading execution and the ability to support decentralized finance applications that require high throughput and low latency.

What is Hyper EVM, and how does it benefit traders on HyperLiquid?

Hyper EVM is a compatibility layer within HyperLiquid’s blockchain that allows traders to seamlessly interact with ERC-20 tokens and other Ethereum-based assets. It enables users to execute orders directly on-chain, leveraging HyperLiquid’s high-performance infrastructure while maintaining compatibility with existing Ethereum-based tokens and applications.

How does HyperLiquid’s liquidity compare to centralized exchanges like Binance?

HyperLiquid provides liquidity and transaction speeds similar to those of top-tier centralized exchanges like Binance. Its blockchain architecture, with features like sub-second latency and a robust liquidity pool, ensures that users can execute trades as quickly and efficiently as they would on centralized platforms, but with the added security and decentralization of blockchain.

What is the significance of the HyperLiquid liquidity provider (HLP) program?

The HyperLiquid liquidity provider (HLP) program allows users to deposit USDC to provide liquidity across the platform’s assets. In return, liquidity providers earn trading fees, which can be quite substantial—up to 22.56% annually. This incentivizes users to contribute liquidity and helps ensure that the platform remains liquid and efficient.

What issues did HyperLiquid face in its early days, and how did it resolve them?

In the early days, HyperLiquid faced liquidity issues during volatile market conditions, leading to some users being liquidated or unable to trade due to network congestion. The team responded by implementing fixes and offering refunds to affected users. Since these improvements, HyperLiquid has not faced similar issues, and its performance has steadily improved.

What is the upcoming HYPE token, and how will it be used?

The HYPE token is set to launch soon and will be used for staking, governance, and rewarding users within the HyperLiquid ecosystem. It will allow token holders to participate in platform governance and decision-making, further decentralizing the platform’s development and growth.

What is the role of validators in HyperLiquid’s ecosystem?

Validators play a crucial role in maintaining the security and performance of HyperLiquid’s blockchain. Initially, there were only four colocated validators to ensure fast transaction processing. However, as the platform grows, the team plans to distribute over 40 validators globally to enhance decentralization while still maintaining high performance.

How does HyperLiquid’s Builder Codes feature support developers?

Builder Codes is a feature that enables developers to build decentralized applications (dApps) on HyperLiquid while leveraging the platform’s existing liquidity infrastructure. This allows developers to focus on creating superior applications without worrying about sourcing liquidity, as they can tap into the liquidity already available on the platform.

What are the expectations surrounding the valuation of the HYPE token?

The valuation of the HYPE token is still speculative, but it is expected to have a fully diluted valuation (FDV) between $3 to $4.5 billion. Community members believe that a large portion of the HYPE token will be distributed through airdrops, and the token’s value could rise as the platform’s adoption and usage continue to grow.