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What is Hyperliquid?
Hyperliquid is a Panama-based decentralized exchange (DEX) that specializes in order book perpetual futures trading. It is built on its own Layer-1 blockchain, designed specifically for high-performance trading. Users can trade perpetual contracts of 132 assets with just USDC as collateral, and up to 50x leverage.
Hyperliquid uses a matching engine that efficiently matches buy and sell orders based on price and time priority. It also employs a robust margining system to manage risk.
Key Features
- High Performance: It is built for speed and scalability, Hyperliquid handles a large volume of transactions efficiently.
- Decentralization: Hyperliquid operates on a decentralized network, ensuring security and transparency.
- Perpetual Futures: Offers continuous trading without expiration dates, allowing traders to speculate on price movements.
- Order Book: Uses a traditional order book system, familiar to traders on centralized exchanges.
- DeFi Focus: The platform is specifically designed to support DeFi applications, providing a robust foundation for building financial products.
- EVM Compatibility: Hyperliquid supports the Ethereum Virtual Machine (EVM), allowing developers to easily port existing Ethereum-based smart contracts.
- Transparent: All transactions are public and verifiable.
- Secure: Decentralization reduces the risk of hacks and single points of failure.
Hyperliquid & Arbitrum
Hyperliquid started as DEX on the Ethereum Layer 2 Arbitrum in February 2023. Arbitrum serves as a crucial gateway for users to access and interact with the Hyperliquid ecosystem. It leverages Arbitrum for several key functions:
- Onboarding: users typically connect to Hyperliquid through the Arbitrum network.
- Fund Deposits: most users deposit funds into Hyperliquid via the Arbitrum bridge.
- Interoperability: Hyperliquid's EVM bridge allows seamless interaction between other chains (like Ethereum) and the Hyperliquid L1, facilitated through Arbitrum.
Hyperliquid Gas Fee
Hyperliquid platform boasts zero gas fees and low taker fees.
What are Hyperliquid Points?
Hyperliquid Points are a reward system that are essentially a form of loyalty points given to users based on their activity on the platform. Points are distributed every Friday.
What is the worth of Hyperliquid Points?
They are not a tradable asset and reward points earned by users for engaging in various activities on the platform.
How To Gain Hyperliquid Points?
You can Hyperliquid Points by engaging in various activities on the platform, such as:
- Trading volume
- Holding certain tokens
- Referring other users (4% discount on referee’s taker fees)
- Affiliate program
Hyperliquid Airdrop
The L1 phase of points began on May 29, 2024, at 00:00 UTC and will end on September 29, 2024. 700,000 points will be distributed weekly during this period. There is anticipation for a points airdrop during this period.
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Does Hyperliquid Require KYC?
Since Hyperliquid is a DEX, it does not require Know Your Customer (KYC) verification thereby offering users greater privacy and control over their funds.
Conclusion
Hyperliquid aims to bridge the gap between centralized and decentralized exchanges by offering the best of both worlds: the speed and efficiency of centralized exchanges with the security and transparency of decentralized platforms.
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