Phantom is integrating Hyperliquid perps.
That’s 15 million MAUs now seeing a perp trading experience front and center on their home screen. Phantom is one of the most widely used wallets in crypto with 15 million monthly active users, $25 billion in self-custody assets, $20 billion in annual swap volume, and about 12 app opens per day per user. The Phantom integration means users will be able to trade Hyperliquid perps directly from the wallet interface, without any bridging or additional wallet setup required. If just 10% of Phantom’s user base converts into Hyperliquid traders, that’s 1.5 million wallets entering the Hyperliquid ecosystem, which would nearly double the addressable user base for onchain perp trading overnight.
On Binance, Bybit, and OKX, spot volumes make up roughly 27% of perp volumes. Phantom does $20 billion/year in swaps (spot trades). If that ratio holds, it implies ~$74 billion in potential perp flow latent in Phantom’s user base.
What’s interesting is that Phantom picked Hyperliquid Builder Codes and not Jupiter perps. In a chain abstracted world, products are no longer limited by their native stack and can focus instead on liquidity and fee economics. Builder code lets partners like Phantom add a monetization layer on top of their UX, while offering users near-institutional pricing, equivalent to Binance VIP1, which normally requires $15M+ in monthly volume.
Phantom wins by monetizing distribution. The user wins by getting low fees and better execution. Hyperliquid wins by growing its user base and order flow.
Looking forward, Phantom has significantly derisked the idea of integrating Hyperliquid. I expect more wallet frontends, interfaces, aggregators, and Tier 2/3 exchanges to follow. As more frontends integrate Hyperliquid, the protocol’s liquidity deepens, its fee model strengthens, and its backend becomes even more attractive for new interfaces.
Hyperliquid.
Introducing: Phantom Perps 👻 ♾️
Go long or short in just a few taps.
100+ markets. Up to 40x leverage. All in your pocket.
Powered by @HyperliquidX
79
93
747
106,627
Airlines get you by making it extremely cumbersome to spend the voucher. The $2k will be split into 20 $100 gift cards that you have to manually redeem for each one
21
1
381
57,983
after seeing ETH and ENA's ramp up on the back of DAT participation, I don't think the market has priced in SONN's upcoming $305 million HYPE bid.
14
18
234
36,983
Testing @sphere_labs today — sent a wire at 4:30pm, and the funds hit my Hype wallet by 4:50pm.
Ridiculously smooth experience. Props to @0xdirichlet and the support team — truly best in class.
9
6
122
66,547
The flippening is happening. Hyperliquid overtook Bybit, and Binance didn’t even list spot Pump.
1
2
106
5,606
Few people realize this, but the amount raised was chosen as a tribute to the sponsor’s heritage.
Single 8 (八): Symbolizes prosperity and wealth.
Double 8 (88): Used to wish someone double happiness or good luck.
Triple 8 (888): Intensifies the luck, seen as a powerful sign of triple fortune—like saying “wealth, wealth, wealth” or “prosperity to the max.”
Hyperliquid.
14
2
88
13,010
also whatever you think of Tom Lee, Bob Diamond is 10x.
Until 2012, Mr. Diamond was Chief Executive of Barclays, having previously held the position of President of Barclays and was responsible for Barclays Capital and Barclays Global Investors (“BGI”). He became an executive director of Barclays in 2005 and was a member of the Barclays Executive Committee since 1997.
Prior to Barclays, Mr. Diamond held senior executive positions at Credit Suisse First Boston and Morgan Stanley in the United States, Europe and Asia. Mr. Diamond worked at Credit Suisse First Boston from 1992 to 1996, where his roles included Vice Chairman and Head of Global Fixed Income and Foreign Exchange in New York, as well as Chairman, President and CEO of Credit Suisse First Boston Pacific. Mr. Diamond worked at Morgan Stanley from 1979 to 1992, including as the Head of European and Asian Fixed Income Trading.
4
4
78
34,946
3 of the top 10 assets on Hyperliquid are now spot assets.
trade spot on the venue where 10-figure whales trade: app.hyperliquid.xyz/trade/BT…
4
3
75
4,344
They wouldn't let me post this from main.
Go shorty, G-Unit in the club with 500M—still hungry, still grindin' - 50 cent
A couple new ATHs for Unit assets today:
- Total Volume: $8.5B+
⁃ TVL: $500m
Trade spot on Hyperliquid: app.hyperliquid.xyz/trade/BT…
5
74
4,474
We are hiring. 10k for referrals.
Apply here: jobs.polymer.co/unit
Unit is now hiring elite talent across the stack. We are currently a very small team executing on a highly ambitious vision.
If you're high-agency, thrive on ownership, and want to reshape how the world interacts with assets on-chain, we want to talk to you.
Roles:
Senior back end engineer
Front end engineer
Dev Ops
Design
Apply here: jobs.polymer.co/unit
Referral fee of 10k usd if you source a candidate.
3
8
74
12,816
It’s pretty clear that Aster’s tech is cooked. If CZ wants to build a serious DEX competitor, he should acquire Lighter via @saliencexbt OTC channel
5
65
6,526
what are upcoming IPO's people would wana trade? some names that have come up: Unitree, Anduril, Revolut, Kraken, Discord
12
2
40
5,100
kbw made me even more bullish on HL. almost every person I met with, regardless of role or chain, would inevitably bring up how much they love HL. truly a reflection of the grassroots adoration that comes from a 10x product. reminds me of the fervor that apple/tesla fans have
3
4
33
3,581
Trading functions as a low-level optimization layer in the global price discovery process, efficiently arbitraging mispricings and transmitting signals across markets at the speed of light. It exemplifies capitalism’s core strength: as a distributed, decentralized system for allocating resources, especially when contrasted with the failures of central planning. Central committees, like those in the Soviet Union or Allende’s Chile, eventually collapsed under the weight of accumulated pricing errors. But it’s less clear whether the same mechanisms that price assets efficiently can also value small-scale excellence and craftsmanship.
Take Ceres, a pizzeria in the Lower East Side run by two chefs trained at Eleven Madison Park. They arrive each morning at 6 a.m., measure pH levels in their dough, adjust fermentation levels based on ambient conditions, and source scamorza from a single New Jersey farm aging cheese in caves. They operate with PhD-level precision and consistency on a daily basis. Despite having lines that stretch down the block, they are still struggling with six-figure credit card debt and lack investors.
From a purely financial perspective, Ceres is unlikely to outcompete a memecoin. And yet the value it creates from a culinary, cultural, and communal basis is undeniable. So while capitalism excels at coordinating supply chains and surfacing local optima via prices, it may underallocate to low-scale craftsmanship that doesn’t scale in a traditional sense. If markets are a decentralized computation of value, then perhaps the algorithm is overfitting, privileging scale, and speculation over quality and care.
3
28
1,990
Imagine direct fiat on ramp to Hyperliquid. Imagine rebalancing between equities and crypto all in a unified platform. Imagine leveraging equities/indices/commodities as margin for your perps position. Imagine price discovery for equities happening on chain in a 24/7 market.
3
28
2,152
jefe nakamoto arc
It's inspiring to see tens of thousands of community members secure life-changing wealth as part of the Hyperliquid genesis event. Importantly, none of these people were insiders. They:
1) believed in the vision for a better financial system when no one else would
2) acted on that conviction by using and building upon the nascent technology, bootstrapping an unstoppable financial network
The Hyperliquid genesis pays homage to the original ethos of Bitcoin: ownership goes to the believers and doers, not rent-seeking insiders.
For all you early believers, thank you for the unwavering faith and support. Hyperliquid would be nowhere without you all. I'm grateful and honored to be building alongside you.
--
Looking back, we've come a long way. But looking ahead, there's so much further to go.
Finance is humanity's greatest invention. It is the only effective way to coordinate human effort across time and space. Yet, the legacy financial system contradicts its underlying goal of empowering individuals:
- it is opaque and centralized
- it is owned and operated by privileged insiders
- it doesn't embrace technological innovation to better serve users
Hyperliquid is the evolution of finance. And Hyperliquid has not succeeded until it houses all of finance. If you're reading this now, you're still early. The new financial system welcomes you with open arms.
1
21
4,492
"In addition to the $583 million of HYPE value contributed, the gross cash proceeds of $305 million at the closing of the Business Combination will enable HSI to acquire significantly more HYPE, creating one of the top strategic reserves of the HYPE token."
1
17
1,109
Vethor generation - rewarding those who lockup their generated Vethor longer to minimize daily supply overhang. Users who lock Vethor for an X amount of time generate an additional bonus %. When users try to transfer before the lockup schedule expires, a % is burned (2/8)
2
17
Carbon trading exchange - reporting businesses must stake a certain amount to participate in the system. Businesses that egregiously misreport their carbon emissions are penalized by having their staked tokens slashed (encouraging honest self-reporting).
1
16
Periodic buybacks by the company, instead of being burned are used to incentivize further growth via grants (e.g. Request Proposals). Price goes up as a result while creating more growth for the network. $30k per existing grant is not competitive enough to attract devs (5/8)
1
15
$vet @cryptoJTT @vechainoracle @eisenreich @VechainW @take_vet @Vetliever @sunshinelu24 @jasonrockwood @Sarah_Nabaa
1
1
11
Slashed tokens can be rewarded to agents like DNV who provide an accurate audit (currently businesses don’t have strong incentives to accurately report given the relatively small consequences - economic benefits from misreporting/overpolluting outweigh penalties). (4/8)
1
13
Defi 1 - Once cross-chain Defi becomes more developed, have Vechain stake their corporate treasury and provide % of yield returns to Vet holders proportional to their holdings (reward in external asset like stablecoin to mitigate selling pressure) (6/8)
1
13
all the best crypto and fintech products are converging on the same roadmap
ex revolut team building perps
ex citadel team building perps
coinbase, robinhood pushing perps. wouldn't surprise me to see every other fintech app (maybe even gambling apps) following
perps are a great business:
- a perp is cash-settled; the exchange never has to source the underlying asset or roll contracts -> minimal 'cost-of-goods' means gross margins regularly top 85-90%
- sticky collateral -> 10-100x leverage and no expiry means users leave assets (often stablecoins) on the platform, lowering churn and giving the venue float income
- cross selling optionality -> a perp user is a lead for spot, options, staking, card, wallet, etc
perps quickly becoming the most competitive segment within crypto (look how every major exchange is scrambling to expand or defend its perps business this year), and soon outside of crypto.
if you own distribution, adding perps to your offering adds a low capex, high margin revenue line. each dollar of perp fee is almost pure contribution margin. there's no balance-sheet inventory. insurance fund prefunding can be carved out of fees (like binance, bybit do).
also, because perp traders churn less (open positions, collateral locked), average customer lifetime probably lengthen, multiplying the ARPU gain.
few people talking about how tradfi is coming to take its cut out of crypto's most profitable pie. ask yourself what this means for your bags
hyperliquid
1
1
12
2,472
Looks like @leopoldasch intel options are gonna pay off big time?!
5
9
1,222
NBA teams up 2–1 in the Finals are 50–13 (79.4%). Pacers still trading at just 34.8% on Polymarket. Mispriced?
3
9
1,545
Flash frozen still maintains the integrity of the fish. Almost all fish go through this process at Yama seafood, which is the main purveyor to omakase joints in NYC
10
