A few months ago, I got the Hyperliquid airdrop and received the token called HYPE… and at first I didn't know what to do with it. Just another airdrop, right? But the small amount I got became bigger, and as I used it in some protocols I got other airdrops like Hyperswap and Hyperbeat... So not so bad finally.

More recently, I got Monad — 1500 MON in my wallet today. At today's price, that's only about $40. So I'm wondering... Will it pump like HYPE did?

So many Layer‑1s popping up everywhere: Ethereum, Solana, Sui, Aptos… and now these new kids on the block. I can't help but wonder: with all these chains and tokens, is there room for them all? Or will HYPE, with its hype‑train energy and airdrops, somehow take over everything?

Here's what makes Hyperliquid stand out: it's a custom-built Layer 1 blockchain with its own HyperBFT consensus mechanism that processes up to 100,000 orders per second with sub-second finality. Unlike typical DEXs that rely on automated market makers, Hyperliquid runs a fully on-chain order book for perpetual exchanges, eliminating gas fees for transactions. The platform was launched in 2024 and conducted one of the largest community-driven airdrops in DeFi history, distributing 31% of total HYPE supply worth nearly $1 billion to early users.

The network currently has only 16 validators, all selected based on their performance during the testnet phase. The validator set is expected to expand to 20+ as the network matures, improving decentralization over time... But that's still low...

The real game-changer? HyperEVM. HyperEVM isn't a separate chain but an EVM-compatible smart contract platform secured by the same HyperBFT consensus as the core blockchain. This means developers can deploy standard Ethereum contracts while directly accessing Hyperliquid's performant order books — no bridging, no separate security assumptions, just one unified state. The HyperEVM mainnet went live in February 2025, bringing general-purpose programmability to the network.

With over 300,000 users and TVL surging to $5 billion with $8 billion monthly volumes and more than $1 billion revenue per year, Hyperliquid isn't just another DEX — it's building an entire financial ecosystem on-chain.

Speaking of HYPE, Hyperliquid is building out HyperEVM projects, and some are already offering opportunities to get in early. For instance, ProjectX has a referral program where you might qualify for their future airdrop by signing up with my referral link: https://www.prjx.com/@Bfab

Small moves today could turn into something bigger tomorrow...

The blockchain space feels like a crowded stadium — every L1 shouting for attention, waving banners, trying to get you to stake, swap, or participate. And here I am, just holding a bit of HYPE and some MON, thinking… maybe we're entering a phase where it's not just about the tech anymore, it's about who can capture hearts, wallets, and attention first.

With over 38% of the total HYPE supply dedicated to future incentives, Hyperliquid is positioned to replicate successful ecosystem growth models. The platform's deflationary tokenomics burn 97% of trading fees, creating supply pressure while rewarding stakers.

Meanwhile, Monad brings its own firepower: a high-performance Layer 1 blockchain processing 10,000 transactions per second with near-zero fees while maintaining complete EVM compatibility. Built by former high-frequency trading engineers and backed by $244 million in funding (including a $225 million Series A led by Paradigm at a $3 billion valuation), Monad achieves breakthrough performance through parallel execution, making it 100 to 1000 times faster than competing blockchains. The total supply is fixed at 100 billion MON tokens.

Will HYPE kill them all? Maybe not literally. But in a world full of L1s, maybe the ones with the most community, momentum, real utility, and yes, a little bit of hype, will survive and thrive.

And honestly? Watching Hyperliquid scale perpetuals with such speed and depth makes me wonder: is perps finally the killer use case DeFi's been waiting for? We've seen lending protocols, AMMs, NFT marketplaces... but nothing has captured the raw trading volume and institutional-grade execution quite like on-chain perpetual futures. Maybe the future of blockchain isn't just about building another smart contract platform — maybe it's about perfecting the one financial primitive that traders actually need every single day.

Disclaimer: This content is for informational and entertainment purposes only and should not be construed as financial, investment, or legal advice. Cryptocurrency investments carry significant risk, including the potential loss of your entire investment. Token prices are highly volatile and can fluctuate dramatically. Always conduct your own thorough research (DYOR). The author may hold positions in mentioned tokens. Past performance does not guarantee future results. Participation in airdrops, referral programs, or early-stage projects involves additional risks and may not result in any financial benefit.