Happy Sunday, frens!
The weekend is almost over, and crypto markets are looking pretty good. Bitcoin reached a new all-time high, as did $HYPE, the native token of the king of perp DEXs - Hyperliquid.
If you are travelling deep in the crypto space, you can't have avoided the much hyped Pumpfun $PUMP token pre-sale. It sold out in 12 minutes or so, and many centralised exchanges were experiencing issues. In other words, it wasn't a smooth ride at all.
Also, during the launch, Hyperliquid exceeded again under massive volume while beating old CEXs such as Coinbase.
On CT, I noticed a lot of buzz about Coinbase and Robinhood launching perp DEXs and how this is supposed to be a threat to Hyperliquid's dominance. My guess is that yes, there probably will be DEXs that'll challenge HL in the future, but I don't think the threat will come from centralised exchanges.
HyperCore + HyperEVM + Rabby
So why am I all hyped about Hyperliquid all the time in these posts?
In a nutshell, they've created an awesome product that works like a charm and that really meets the demand. In addition, they constantly keep evolving and delivering. The second layer, HyperEVM, is a super-fast and smooth experience with very low fees. There's a lot of stuff to do there, especially if you are into defi.
Not long ago, HyperEVM support was added to everyone's favourite EVM wallet, Rabby. This meant that we could now monitor our balances, defi positions and rewards in real time on our wallet. No need to keep on connecting to all the different dapps to check up on progress.
Just the other day, it got even better as Rabby added the HyperCore (Hyperliquid L1)! Now we can see our perp, spot and staking positions at one glance right next to HyperEVM stuff. This is how things are done. 👍
Hybra Finance
As I've mentioned, a lot is happening on Hyperliquid and especially on HyperEVM. One of the latest discoveries I made is Hybra Finance DEX, focusing on concentrated liquidity pools. If you don't know what I mean by that, I'd suggest checking out one of my previous posts explaining the concept.
To me, Hybra is especially interesting because it's rather new compared to other similar DEXs such as KittenSwap or HyperSwap. This is definitely an advantage as by providing liquidity and making swaps, we are actually farming the protocol airdrops at the same time.
I'm currently active on Hybra with $100 and ranked at 2038, which is pretty good compared to HyperSwap, where I'm around 14000th place. If you are low on capital, one way to increase an airdrop allocation is to be early and with Hybra Finance, this is still possible.
Hybra Strategy
So what am I currently doing there?
Well, I had been providing liquidity in the HYPE/USDT pool, but my position got out of range, and I missed the chance to rebalance. This is actually a good lesson for me to always keep monitoring the positions, especially if using a tight range, so we can benefit from these sudden surges.
Being out of range is not the end of the world, as my initial deposit is now worth more, but is now fully in USDT. As you can see in the chart above, $HYPE is now at ATH and in the price discovery zone. I'm still waiting for a healthy pullback to find a new opportunity to re-enter the position, but I'm not just holding my stables. Instead, I've deposited in USDHL/USDT0 pool, which is a stable/stable position, meaning there's no impermanent loss.
The benefit of parking my stables here instead of holding is a small APR (currently 6.48%) and, of course, getting those airdrop points. I'm currently receiving 20x from this position, which is a bit less than what I would get from HYPE/USDT. Still, this is only a temporary strategy as I'll jump back into the more volatile pair when the window opens.
Hybra Finance is a great option for everyone interested in exploring HyperEVM. They got a 100% Early Adopter Boost, which will give us a slight edge compared to those who join in later on. As always, remember to DYOR and read the Hybra docs before jumping in.
Conclusion
The future is looking bright for Hyperliquid, the DEX is dominating the perps scene while HyperEVM keeps expanding with new protocols.
Whether you are into spot or leverage trading, lending/borrowing strategies, NFTs or providing liquidity, you are very likely farming the Hypercore airdrop with your interactions while also farming the protocol airdrops. It's like airdrops inside and an airdrop.
Even without those, HL would most certainly be a place where I'd park my assets. In fact, I'm just about to bridge some $SOL there to farm yet another airdrop, but more about that, and how it went in later posts...
Thank you for reading, and don't forget to check out my Hyperliquid ref links below; all of these are tested and 100% legit. 💪
🔹 Hyperliquid - the best perp DEX out there. Trade, stake & farm the next big airdrop!
🔹 Hybra Finance - earn points by provind liquidity
🔹 HyperSwap - Swap & provide liquidity on HyperEVM, earn points for the airdrop
🔹 HypurrFi - farm airdrop points with stables by entering ref code BRANDO28
🔹 LeoDex - multi-chain, multi-wallet dex for all of your swaps
🔹 VOLO - stake SUI to earn APR & airdrop points!
🔹 Pawtato Land - very useful SUI dashboard, earn XP for the airdrop by completing small tasks
🔹 Huma Finance - easy to farm an airdrop on Solana. Deposit USDC, earn APR % points
🔹 Kaito - monetize your X activity by creating quality crypto content