Last time, I explained what Hyperliquid is about and shared their vision for the future. In my opinion, it’s a very promising project, the on-chain data doesn’t lie and shows consistent growth.
There’s still 38% of the token supply reserved for the community, and there’s a high chance that part of it will be distributed through another airdrop. Let’s explore how we can position ourselves by interacting with Hyperliquid.
Airdrop Season 2 ?
To be clear : there’s no official confirmation from the Hyperliquid Foundation about a second airdrop. However, here’s why I strongly believe one could happen :
- 38% of the total supply is still reserved for the community — that’s nearly $10 billion at the time of writing (318 million tokens × $26.1).
- The first airdrop was worth about $8 billion and was by far the largest airdrop ever. Even if the next one is smaller, it would still be massive and worth chasing.
- The success of the first airdrop brought Hyperliquid into the spotlight, onboarding millions of users and generating daily trading volume in the millions. The team likely sees it as a success and may want to replicate that for HyperEVM, which was recently launched.
- There are subtle hints, like the updated points dashboard, even though the program officially ended after the TGE. Maybe the points are now hidden, and Hyperliquid wants to reward real users who kept using the protocol post-launch.
The Trading Platform
The main product that made Hyperliquid famous is their Decentralized Exchange (DEX). The first airdrop focused solely on:
- Trading crypto
- Generating volume
- Referrals
Since the TGE, the platform has expanded to include spot trading and HyperEVM.
There are no official criteria for a potential airdrop, so in my opinion, the best strategy is to interact with as many Hyperliquid products as possible.
Getting Started with Trading & Spot
The trading/spot platform is very intuitive to use. You just need a wallet (like Rabby Wallet, MetaMask, etc.).
Use my referral code for a 4% fee discount and to support me for free:
https://app.hyperliquid.xyz/join/ASTROBOY13
Once you connect your wallet and enable trading, you can deposit USDC or USDT from Arbitrum, Solana, Ethereum, or Bitcoin chains onto Hyperliquid.
I recommend Arbitrum for lower fees.
If you need to bridge funds, I often use Relay (no referral), it’s a great tool for bridging between chains.
After depositing, you can either :
- Trade perpetuals (with leverage)
- Buy crypto on spot
To use spot, it works like a separate account from perps. You’ll need to allocate funds to your spot balance, which can be done in one click.
Once you have $HYPE, you can :
- Stake it for an APR around 2.2%
- Deposit into vaults, either protocol-managed (HLP Vault) or user-created
The HLP Vault is a liquidity pool that powers trading on the Hyperliquid platform. When you deposit funds into the vault, you act as the counterparty to traders (mostly perpetual traders).
In simple terms, you provide the liquidity used in trades.
Compared to regular staking depositing into vault can give you higher yield potential, you earn trading fees and take profits when traders lose.
But it comes at the risk of losing money if the trader (personal vaults) or the overall traders on Hyperliquid are winning (HLP vault).
I’ll be releasing another article soon about HyperEVM and how you can farm it.
In the meantime, enjoy exploring the platform and position yourself early for what might be crypto’s next massive airdrop
As always, thank you for reading !
Hyperliquid (4% fees discount) : https://app.hyperliquid.xyz/join/ASTROBOY13
My favorite Crypto Faucet: Cointiply (referral)
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Disclaimer: This is not financial advice, you need to do your own research !
