Interacting with the Hyperliquid derivatives exchange for a potential airdrop
Hyperliquid — is a decentralized derivatives exchange running on its own L1 blockchain based on Cosmos SDK. Thanks to this approach, the platform can work stably even under heavy loads, supporting and transparently displaying up to 20 000 orders per second on the blockchain.
At the moment, there are no reports of the team raising any investments, but the official X (formerly Twitter) is being followed by many employees of various funds. It’s possible that some rounds have been made, but they’re not being reported yet.
Further on in the article we will tell you how you can interact with the exchange to be able to claim an airdrop if the project team decides to hold one in the future.
Interacting with the platform
Note: all the functionality of the platform is focused on derivatives trading. Before interacting, keep in mind that any trading is associated with risks. You can both increase your initial capital and lose it.
- Go to the exchange, agree with the terms and conditions and connect your wallet.
- Next, click Deposit and deposit the amount you will trade with:
Note: the exchange supports USDC.e deposit on the Arbitrum network.
- Select the market and pair of interest. Set the desired settings: leverage, opening a position in Long or Short, position volume, etc. Open and trade, gain volume:
Note: the higher the leverage, the greater the chance of liquidation. Also do not forget to set Stop Loss.
- In addition to trading, you can also lend your funds to other traders or directly to Hyperliquid to maintain liquidity. For what you will get a floating APR. To do this, go to the Vaults tab and choose one of the proposed ones. The first two belong to the platform, the rest are created by users:
Important: APR depends on the performance of the trader to whom you provide liquidity, or on the earnings of Hyperliquid directly. It can be either positive or negative.
- Enter the desired amount and confirm the deposit:
Note: withdrawal of funds from the pool will be possible only after four days.
- If you are an experienced trader, you can create your own Vault. On the Vaults tab, click Create Vault:
Note: to create your own Vault, you will need to deposit at least $100 into it.
The project has a system of points, which are given for the overall performance of the user on the site. You can track your own points on the Points tab.
Registering for Genesis Event
The Hyperliquid team has confirmed the token and launched the Foundation page.
Once HyperEVM’s own HyperEVM network is deployed, the HYPE project token will become native and will power HyperBFT’s Proof-of-Stake consensus.
If you have been active in the protocol, you need to register for the Genesis Event via the link. Otherwise, you will not be eligible for the drop.
Note: registration must be completed by November 11, 2024.
Conclusion
According to DefiLlama, this Dex exchange is consistently at the top in terms of trading volume, which shows the interest of traders in this dApps. Although there is no information about raising any funds, the rounds might not have been public. Therefore, if you are actively engaged in trading, perhaps you should pay attention to this protocol, especially since there is a familiar system of points.
Highlights:
- the exchange stably keeps at the top in terms of trading volume;
- the project works on its own L1 blockchain;
- there is a system of points;
- in Discord of the project you can earn roles for communication.
If you have any questions when going through the activities, you can ask them in our X.
Social networks of the project: Website | X | Discord
It will be interesting
