Valantis, a decentralized exchange (Dex) protocol, acquired a marked media (Sthype)The second largest liquid jaliage token (LST) On hyperliquid. The financial conditions of the agreement have not been disclosed.
Sthype, which was launched as the first LST on Hyperevm, currently holds around $ 180 million in total locked value (TVL)According to the Sthype website.
After the agreement, operations, development and STHYPE scale will be managed by Valantis Labs. Addison Spiegel, founder of Thunderhead, the team behind Sthype, will be Valantis advisor.
Liquid staggered has become a central pillar in the hyperliquid ecosystem. According to Defillama, the liquid milestone represents more than half of $ 2.26 billion in hyperliquid L1 in TVL DEFI
The acquisition is based on the previous launch of Valantis of specific Pools Dex for LST for STHYPE and HHYPE, which attracted nearly 70 million dollars on TVL and treated more than $ 500 million in a negotiation volume.
Valantis said that in a press release, he planned to extend Sthype integrations with DEX and hypercore, with the aim of establishing a wider liquidity network for hyperliquid.
Hyperevm, which was put online in February, increased to more than $ 2 billion on TVL on nearly 100 protocols.
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