In the fast-paced world of cryptocurrencies, where innovations rapidly succeed one another, a platform has emerged that has already captured the hearts of traders worldwide—Hyperliquid. This decentralized exchange (DEX), operating on its own high-performance Layer-1 blockchain, combines the speed of centralized exchanges (CEX) like Bybit with the security of decentralized finance (DeFi). In this article, we’ll dive deep into what Hyperliquid is, how the Hyperliquid blockchain works, how to start trading on the platform, and explore the opportunities of Hyperliquid staking and the legendary Hyperliquid airdrop that shook the crypto community in 2024.
What is Hyperliquid?
Hyperliquid is not just another crypto exchange but a powerful ecosystem designed for high-speed trading with minimal fees and maximum transparency. The platform is built on its own Layer-1 blockchain, utilizing a unique consensus mechanism called HyperBFT. This mechanism enables processing up to 200,000 transactions per second with finalization in under one second, making the Hyperliquid blockchain one of the most efficient in the industry.
The core advantage of Hyperliquid lies in its fully on-chain order book, ensuring transparency for all operations. Unlike most DEXs that rely on automated market makers (AMM), Hyperliquid offers a familiar order book interface similar to centralized exchanges but without the need for KYC (Know Your Customer) procedures. This makes it ideal for those who value anonymity and control over their assets.
Key Features of Hyperliquid:
- Zero gas fees for trading operations.
- Support for spot and futures trading with up to 50x leverage.
- Staking opportunities with HYPE tokens for passive income.
- Compatibility with over 30 blockchains, including Ethereum, Solana, and Arbitrum.
- User-friendly interface resembling that of CEXs.
Hyperliquid Airdrop: The Most Generous Airdrop in Crypto History
In November 2024, Hyperliquid conducted the Hyperliquid airdrop, which became the largest in cryptocurrency history. Over 310 million HYPE tokens (31% of the total 1 billion supply) were distributed among nearly 100,000 users. The average airdrop amount per participant ranged from $45,000 to $50,000, making this event a true sensation.
A standout feature of the airdrop was the absence of venture capitalist (VC) participation. 76.2% of HYPE tokens were allocated to the community, including current and future users, as well as reward programs. Team tokens (23.8%) are locked until 2027–2028, minimizing the risk of insider sell-offs. This approach solidified Hyperliquid’s reputation as a community-focused platform.
Additionally, 38.888% of HYPE tokens are reserved for future emissions and rewards, opening opportunities for new users to participate in upcoming distributions. For instance, a potential HyperEVM airdrop could be launched to incentivize the use of applications on the Hyperliquid blockchain.
How to Start Trading on Hyperliquid: Step-by-Step Guide
Hyperliquid is a platform suitable for both beginners and professional traders. Follow this detailed guide to get started.
Step 1: Prepare a Wallet
To interact with Hyperliquid, you’ll need a crypto wallet that supports the Arbitrum network, as deposits and withdrawals are processed through it.
Recommended Wallets:
- MetaMask: A popular browser and mobile extension.
- Rabby Wallet: An alternative to MetaMask with an improved interface.
- Trust Wallet: A convenient mobile wallet.
How to Set Up a Wallet:
- Install your chosen wallet.
- Add the Arbitrum One network to your wallet settings (network parameters are available on Hyperliquid’s official website).
- Fund your wallet with USDC (the primary stablecoin for Hyperliquid) and a small amount of ETH to cover Arbitrum gas fees, typically $0.1–$0.5.
Step 2: Deposit Funds to Hyperliquid
- Visit the official Hyperliquid website (app.hyperliquid.xyz).
- Click "Connect Wallet" and link your wallet.
- Select "Deposit," choose USDC (Arbitrum), and specify the amount.
- Confirm the transaction in your wallet.
Important: Hyperliquid supports only USDC as a stablecoin. Ensure you have ETH to cover minimal network fees.
Step 3: Trading on Hyperliquid
Hyperliquid offers two main trading types: spot and futures.
Spot Trading:
- Navigate to the "Spot" section.
- Select a trading pair, e.g., HYPE/USDC.
- Specify the price and volume, then click "Buy" or "Sell."
Фьючерсная торговля:
- Open the "Perps" tab.
- Choose a futures contract (e.g., BTC-USD).
- Set the position size and leverage (up to 50x).
- Select margin type: cross (all wallet funds as collateral) or isolated (fixed amount for the position).
- Click "Long" (bet on price increase) or "Short" (bet on price decrease).
Step 4: Withdraw Funds
- Go to the "Withdraw" section.
- Specify the USDC amount and your wallet address on the Arbitrum network.
- Confirm the transaction.
Tip: For large trades, check the liquidity of the trading pair. For enhanced security, consider using hardware wallets like Ledger or Trezor.
Hyperliquid Staking: Passive Income with HYPE
Since late 2024, Hyperliquid introduced HYPE staking, enabling users to earn passive income by contributing to network security. The current yield is approximately 2% annually, but certain pools, such as the HLP Vault, can offer yields of 24–55% APY.
How to Start Staking:
- Connect your wallet to Hyperliquid.
- Navigate to the "Stake" or "HLP Vault" section.
- Select the amount of HYPE to stake and confirm the transaction.
Staking not only generates income but also strengthens the network through the HyperBFT consensus mechanism, which is based on Proof-of-Stake.
Pros and Cons of Hyperliquid
Advantages
- Full Anonymity: No KYC required.
- Low Fees: Trading fees are just 0.01% for makers and 0.035% for takers.
- High Speed: Up to 100,000 orders per second.
- Up to 50x Leverage: Ideal for experienced traders.
- Transparency: Fully on-chain order book.
- HyperEVM Support: Enables the creation of DeFi applications.
Disadvantages
- Limited Asset Selection: Currently supports about 130 assets.
- USDC Only: No support for other stablecoins.
- Smart Contract Risks: Despite audits, caution is advised.
Why Hyperliquid is the Exchange of the Future?
Hyperliquid is transforming the DeFi landscape by offering a unique blend of speed, security, and transparency. Thanks to the Hyperliquid blockchain, the platform delivers unparalleled performance, while HyperEVM opens doors for developers to create high-speed DeFi applications.
The Hyperliquid airdrop demonstrated the platform’s commitment to its community over venture investors, making it appealing to traders and investors seeking fair and transparent projects. Moreover, Hyperliquid staking and future reward programs enhance the ecosystem’s attractiveness for long-term users.
How to Buy HYPE?
HYPE tokens can be purchased on Hyperliquid DEX or centralized exchanges like KuCoin, Gate.io, and Bitget. To buy on Hyperliquid:
- Fund your wallet with USDC on the Arbitrum network.
- Connect to Hyperliquid DEX.
- Select the HYPE/USDC pair and place an order.
As of July 21, 2025, the price of HYPE is $46.68, with a market capitalization exceeding $15.5 billion, positioning it as a market leader.
Conclusion
Hyperliquid is more than just an exchange—it’s an ecosystem redefining DeFi standards. Its combination of high speed, low fees, anonymity, and generous reward programs like the Hyperliquid airdrop makes it a must-have for anyone looking to stay at the forefront of crypto trading. Start your journey with Hyperliquid today and become part of the financial future!
Useful Links:
Registration: https://app.hyperliquid.xyz/join/CRYPTOAGE
Official Documentation: hyperliquid.gitbook.io
