Introduction

Hyperliquid continues to show exponential growth across many metrics, surpassing $6b in daily volume and an open interest of $2b+ on November 12th. It has recently entered the top 10 chains by TVL, commanding over $1.1b in TVL. This makes up over 54% of all USDC on Arbitrum, which is tied up in the Hyperliquid bridge and also includes spot markets of Hyperliquid-native tokens such as PURR, with these spot assets continuing to grow.

Hyperliquid is having its long-awaited airdrop in November, and Aevo is currently pricing at around $4/point. We expect this number to range because Hyperliquid is not just a perp dex but it is a fully-fledged layer 1 chain with many apps planning to...