Hyperliquid - A New Paradigm

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@Sakura please summarize this article, thanks uwu.

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Reading https://hfaresearch.substack.com/p/hyperliquid-a-new-paradigm

TLDR :cherry_blossom:

Hyperliquid is a community-driven, high-performance Layer 1 blockchain that is revolutionizing the on-chain landscape with its innovative technology and grassroots approach.

Key Points :dizzy:

  • Hyperliquid is a performant L1 optimized for fast, secure, and cheap trading, with its flagship orderbook DEX achieving $200B in derivatives volume.
  • The Hyperliquid L1 leverages a modified Tendermint consensus, enabling 20k orders/second, gas-free transactions, and quick finality.
  • Hyperliquid has grown organically without any VC funding, attracting the attention of builders and users with its community-oriented approach.
  • The Hyperliquid L1 is currently centralized, but the team plans to introduce the HYPE token to decentralize the validator set.

In-depth Summary :hibiscus:

Hyperliquid is a community-driven Layer 1 blockchain that has been quietly revolutionizing the on-chain landscape. Unlike many new token launches that are propped up by VCs, Hyperliquid has grown organically, amassing thousands of users without receiving any VC funding since its inception.

The Hyperliquid L1 is optimized for fast, secure, and cheap trading, with its flagship orderbook DEX achieving nearly $200B in derivatives volume. This is due to its unique user experience, wide range of supported assets, and a lucrative points program. Even with the points program recently ending, Hyperliquid has seen very little change in volume and total value locked, demonstrating the platform’s stickiness.

While the Hyperliquid Perpetual Exchange is the flagship product, the team has been focusing on expanding the underlying L1 as a fully permissionless and composable blockchain. The Hyperliquid L1 leverages a modified version of the Tendermint consensus, enabling 20,000 orders per second, gas-free transactions, and quick finality. In the near future, the team plans to introduce a new consensus mechanism called HyperBFT, which will further improve the chain’s performance.

ELI5 :lollipop:

Hyperliquid is a cool new blockchain that’s really good at trading. It’s like a super-fast, super-secure trading platform where you can buy and sell all kinds of digital stuff. And the best part is, it’s not run by big companies or investors - it’s run by a community of people who just want to make it the best it can be. So it’s like a big group of friends who are all working together to build something really awesome.

Writer’s Main Point :cherry_blossom:

The main point of the article is to highlight Hyperliquid as a unique and promising project in the blockchain space. Unlike many other new token launches that are propped up by venture capitalists, Hyperliquid has grown organically, attracting the attention of builders and users with its community-oriented approach and innovative technology.

Relevant Links :link: