In my first article about the possible second airdrop of Hyperliquid, we covered the trading part of the platform. But since the launch, one aspect of Hyperliquid that is in constant expansion is the HyperEVM, the Layer 1 where projects are being built.
Hyperliquid 2
The first airdrop was massive, with about 8 billion dollars distributed to users of the platform. The good news is that there is still 38% of the total supply reserved for the community. Since Hyperliquid is focused on organic long-term growth and does not have venture capital, more than 65% of the supply is for the community. This makes it one of the rare projects structured this way.
Source : nftevening
The second airdrop is not official yet, but there is heavy speculation around it. As a bonus, users will also be able to farm projects built on Hyperliquid, which may launch their own airdrops of native tokens.
Since nothing is official, we don’t know the exact criteria if the airdrop happens.
There are many projects on Hyperliquid, but not all of them are as transparent and successful as the Hyperliquid team itself. So in this article, I’ll focus on the major and most promising projects.
HyperUnit
One of the best projects on Hyperliquid (HL) so far is HyperUnit. It’s the project that enables Spot trading on Hyperliquid and allows bridging to HL with a variety of tokens such as BTC, ETH, and SOL.
To give you some numbers: Unit launched 6 months ago (in February). Since then, the TVL is close to 1 billion dollars, with more than 15 billion dollars in trading volume.
How can you interact with Unit ?
You can bridge funds from wallets or exchanges here: https://app.hyperunit.xyz/
This allows you to access funds for other protocols on Hyperliquid, where you can earn yield opportunities on platforms such as Hybra (referral) for example.
Another easy method is to buy spot tokens just like you would normally on a Centralized Exchange (CEX), but this time on Hyperliquid, since all of it goes through Unit.
At the moment, the choice of tokens is limited, but the number of available tokens is expected to increase.
You can also do spot trading by buying for example BTC, then re-selling it later to generate volume, which might play a role in a future UNIT or HYPE airdrop.
To check your trading volume on Unit, you can use a tool created by mfnatiq: https://hyperliquid-tools.streamlit.app/
You don’t need to connect your wallet, just copy-paste your wallet address.
Liminal Money
Liminal is a delta-neutral yield protocol. It allows users to earn yield on stablecoins without being exposed to market fluctuations.
How it works :
By depositing USDC into Liminal, users gain access to automated delta-neutral strategies. These strategies combine:
- A spot long position (e.g. BTC or HYPE)
- A short position in perpetual futures of equal size
This pairing neutralizes market exposure while capturing funding payments directly from Hyperliquid’s perpetual markets.
Why it’s great to use Liminal:
You just have to deposit your USDC, and Liminal will “trade” with your account using a delta-neutral strategy, so you won’t lose money (except for fees), while creating organic activity on Hyperliquid trading and Spot through HyperUnit.
For more safety and to farm Unit directly with your wallet, you need to have the institutional account custody type.
This requires 100k in trading volume on your account. If not, you won’t be able to use sub-accounts that allow you to farm Unit at the same time.
As a bonus, Liminal might also launch an airdrop in the future, although I wouldn’t count on it since there is no points campaign for now.
Hybra Finance
Just like any other Layer 1 ecosystem, various projects on Hyperliquid are connected, allowing you to benefit from the whole ecosystem with your funds.
Hybra is a DEX, and I chose to highlight it because it’s still very early and currently running a points campaign for an upcoming airdrop of its native token.
On this platform, you can swap various HyperEVM tokens (such as WHYPE, LHYPE) and use them in liquidity pools, either on Hybra or across other projects.
The main way to earn points is by providing liquidity. By doing so, you earn both yield and points.
Some pools offer point boosts, while others focus more on yield without boosts. It depends on your strategy : do you want to farm Hybra points for the airdrop, or do you prioritize yield ?
For the Hyperliquid airdrop, I don’t think the specific pool choice matters too much, what’s more important is your overall interaction with the protocol.
Always check the TVL as well since it’s a good indicator of a pool’s health. A high TVL and strong volume are usually positive signs.
You can earn 10% more points with my referral link : https://www.hybra.finance?code=SBHELC
And if you want to use assets you hold on Hyperliquid Spot with HyperEVM protocols such as Hybra, make sure to transfer to EVM first.
Conclusion
The importance of a potential Season 2 airdrop from Hyperliquid will likely depend on the number of interactions you have with projects on HyperEVM and the diversity of protocols you use, similar to farming on a Layer 1 before its token launch.
There are many other projects on Hyperliquid, but I chose to highlight the ones that I personally use and consider the most useful :
- HyperUnit is perfect if you want to buy spot tokens
- Liminal is excellent for generating yield on stablecoins during this phase of profit-taking
- Hybra is ideal if you want to earn yield and participate in a points campaign for a potential airdrop
As always, thank you for reading !
Hyperliquid (4% fees discount) : https://app.hyperliquid.xyz/join/ASTROBOY13
Unit bridge : https://app.hyperunit.xyz/
Unit Docs : https://docs.hyperunit.xyz/
Liminal (refferal) : https://liminal.money/join/ASTROBOY
Liminal Docs : https://docs.liminal.money/
Hybra (Referral) : https://www.hybra.finance?code=SBHELC
Hybra Link Tree : https://linktr.ee/HybraFinance
My favorite Crypto Faucet: Cointiply (referral)
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Disclaimer: This is not financial advice, you need to do your own research !
