Phantom just had its highest revenue day from @HyperliquidX builder codes. It is not slowing down. $HYPE is undervalued.

NEW POD 🍿 @0xOmnia and @greenbergz from @kinetiq_xyz joined @salveboccaccio to discuss: - What's next for Kinetiq? - HIP-3s impact - Kinetiq's recent introduction of Launch - And more! Links below 😊

GM During ETHCC we had a chat @chandlerdkk the Co-Founder of @silhouette_ex where we discussed privacy in defi and giving control back to the users. TLDR: The shielded exchange of hyperliquid James wynn drama brining privacy to open markets Whats coming from silhouette and HL

Where can I find a 44% APY looping opportunity with HYPE exposure? Enter the kHYPE PT loop on @felixprotocol Vanilla once again. Here is the step by step: Step 1: Mint kHYPE PTs at 14.19% fixed APY Step 2: Deposit kHYPE PTs as collateral on Felix Vanilla and borrow HYPE at 6.7% APY, with ~80% LTV (Max is 86% LTV) Step 3: Loop Gross yield: ~70.95% APY Borrow cost: ~26.8% APY Net APY: ≈44.15% on initial capital As looping increases, HYPE borrow rate will increase in a vacuum, but this is where more HYPE lenders come in to capitalize on rates and drive down that borrow cost, so more loopers can loop more on Felix gm @pendle_fi

Pendle has been live for just under 2 weeks and has already surpassed $300M in TVL. At HyperLend, we’re big supporters of Pendle’s approach to capital efficiency and unlocking higher-yield opportunities. We’ve recently onboarded PT-kHYPE as collateral on HyperLend and enabled E-Mode, allowing users to loop PT-kHYPE<>HYPE and target yields of up to 20% APY. Below is a breakdown of the recent report from @BlockAnalitica.

Super interesting interview I just went over with Ethena founder @gdog97_ hosted by Bidcast on potential Hyperliquid x Ethena integrations. Guy Young sees a big opportunity in using Hyperliquid’s HIP-3, which lets builders launch new markets with different stablecoin pairs or entirely new assets. For Ethena, that could mean redenominating Hyperliquid’s markets into USDe instead of USDC pairing perps trading with a yield bearing dollar in one venue. HIP-3 shares 50% of market fees with the deployer. If USDe captured just ~25% of Hyperliquid’s trading flow, at a 50% take rate this could bring in $110~$120M in cost-free annual revenue! Ethena wouldn’t build an in-house exchange. Instead, external teams could spin up a HIP-3 frontend using USDe as collateral. Why would builders do this? - USDC is dead collateral, USDe is yield-bearing. Holding margin in USDe earns the embedded Ethena funding rate (10~12% in current conditions). - Hyperliquid handles the backend. Setup is minimal, and the deployer can choose how to split their fee share with partners like Ethena. - Ethena has one of the largest active defi LP/trader user bases. Its endorsement can bring massive liquidity quickly. For perps markets, this is a huge carrot for LPs: - Market making spread & funding from trading activity. - Passive yield from holding USDe as collateral. Other Hyperliquid related ideas from the discussion: - Launch a tokenized product isolating Hyperliquid risk/return (like sUSDe, but backed solely by Hyperliquid positions). Hyperliquid funding rates have historically been 250–300 bps above the broader market. - Ethena has already secured the HUSD ticker for potential use - Could be EVM compatible and integrated into Ethena’s systems, but kept separate from USDe to give users risk choice. This would be a massive win-win for both teams, with insane synergy potential. HYENA.

you will loop PTs and suppress the yield token price below 10%

put another way, value will accrue to those who best orchestrate the flow of stablecoins

Phantom launched perps powered by Hyperliquid about a month ago, letting users trade leverage without having to leave their wallets. Since this integration: • 25,000+ wallets referred • $1.83m in HL revenue (~$22m annualized off ONE integration) At current rates, Phantom is outpacing every other builder in both revenue and user referrals. Massive W for Hyperliquid.

hyperliquid has now overtaken okx in eth open interest