The Redstone data provider has published a new report on hyperliquid, the decentralized perpetual exchange which quickly became the leader in the category.
In just one year, the hyperliquid grew up to capture more than 80% of the decentralized Perps market, daily negotiation volumes now exceeding $ 30 billion, competing with some of the largest centralized exchanges, according to the report.
Redstone highlighted three structural advantages underlining the overvoltage of hyperliquid.
The first is its entirely chain order book which now provides differences and speeds of execution equally with centralized platforms.
Second, HIP-3, the new market creation framework without hyperliquid authorization, has created one of the most active manufacturers’ ecosystems in DEFI, with the economy of income sharing which poses developers more than the protocol itself.
And thirdly, its double architecture of Hypercore and Hyperevm allows entirely new financial primitives, in particular perg token positions, Delta neutral strategies and new liquidity engineering tools.
The rise of hyperliquidal is an indication of the way in which a lean and self -funded team can surpass the peers supported by a company by focusing on technical execution and the incentives first of the manufacturer. By cutting CEX level performance with technology without permission, hyperliquid is positioned not only as a trading place but as a potential spine for the next chain negotiation phase.
The hyperliquid network, on which the hyperliquid DEX is based, is currently around $ 2.2 billion in total locked value, the DEX won $ 330 billion in cumulative negotiation volume in the last 30 days, according to Defillama.
“Hyperliquid establishes a new standard,” notes the Redstone report, arguing that the two-layer design of the platform and the community-focused growth model create “unprecedented opportunities for manufacturers and institutions”.
