2026-01-09 02:26:36

HyperEVM has launched a noteworthy perpetual derivatives DEX that supports margin trading for almost any asset type. Currently, it has completed $2.5M in funding, with a project valuation of $20M, and trading volume exceeding $1B+, demonstrating market recognition.

The platform's innovation lies in its broad coverage of asset types and flexible leverage mechanism. The testnet is now live, and users can earn points by participating in farms. For those optimistic about the development of on-chain trading, this project offers a different solution.

It is still in the early stages, and interested friends can conduct their own research.

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TideReceder

· 8h ago

1B trading volume looks good, but leverage stuff... gotta be careful when playing with it I need to farm on the testnet, anyway early free points are too good to waste You can leverage any asset, sounds great but in practice you have to be careful or you could lose everything The dream of early projects doubling in valuation is always tempting, but I prefer to wait and see if there are any painful lessons first The funding amount isn't particularly large, indicating we're still in the money-burning stage, how long can it last? The perpetual DEX track is highly competitive, why should this one be able to break through

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GateUser-ccc36bc5

· 11h ago

1B+ trading volume broke through so quickly? Gotta check if this data is real or not. The testnet farm points system is pretty interesting; early adopters can take advantage of it. Leverage can be used for anything... but the risk can also blow up anything. Better to be cautious. The financing limit isn't particularly large, but the appetite is quite strong. Worth paying attention to. The perpetual DEX track is getting pretty competitive now. I wonder if this guy can break through.

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MEVvictim

· 01-10 05:58

Over 1B+ trading volume sounds impressive, but it depends on the actual liquidity... Early projects all hype this way. Leverage farms... This trick feels a bit familiar, be careful of being harvested. Testnet is already touting a valuation of 20M, but it’s somewhat interesting, worth researching. Another perpetual DEX, what’s the differentiation? Still the same old packaging. Raising only 2.5M and claiming a trading volume of over 1B, that calculation seems a bit questionable. The on-chain derivatives track is crowded; what makes HyperEVM stand out? Points farm... Let’s see if there are any negative news later before jumping in.

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ChainBrain

· 01-09 07:59

Hmm, a B, right? That data looks a bit exaggerated. Only 25M in financing trading volume and it already exceeds one billion? Early projects tend to boast, but testing networks are just for trying out. The perpetual DEX track is almost saturated; it all depends on who has more stable technology. Leverage can be used to trade anything, but it sounds like helping people to de-leverage and get liquidated—how cautious should we be? How long can that financing last? I doubt it.

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BearMarketMonk

· 01-09 02:56

Wow, over 1B+ in trading volume, this HyperEVM is really something. Testnet is already live? Hurry up and farm, earn points for free. Early-stage project, $25 million in funding with a valuation of $200 million. Those who know what they're doing should take a look. Leverage trading can be used for anything. Whether it's heaven or hell depends on your own skills. For perpetual derivatives DEX, new players definitely need to stir things up. The funding data looks okay, but as always, DYOR (Do Your Own Research) is never wrong. There are quite a few projects emerging now, but not many can break the 1B trading volume.

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DaoGovernanceOfficer

· 01-09 02:56

nah, $1B volume already and still "early stage"? empirically speaking, the data suggests either liquidity concentration issues or they're counting wash trades. where's the actual fee breakdown and protocol health metrics?

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RektHunter

· 01-09 02:48

Over $1B in trading volume sounds impressive, but for early-stage projects, you need to look carefully at these numbers, or you'll easily get caught in a trap. They dare to boast about the testnet as if it's the next big thing; I think I'll wait until the mainnet is launched. Leverage trading is inherently high risk, and the liquidity of such small projects still needs to be observed. Another set of farm points? Seriously? Forget it, I'm already immune to this kind of incentive mechanism. $2.5M in funding isn't much; I haven't heard of the team background, and if I research myself, it would take a long time. If it could truly cover any asset, that would be too exaggerated. They are definitely good at blowing hot air. Valuation at $20M with a trading volume of over $1B—how is that calculated? The ratio feels strange. There are already a bunch of perpetual derivatives DEXs; what makes this one worth paying attention to? Don't rush into early-stage projects; wait until more actual user feedback comes in. I've seen too many projects like this; in the end, they either run away or become ATMs for small-town youths.

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BearMarketSurvivor

· 01-09 02:45

It looks like another "innovative DEX," with valuation multiplying by eight and trading volume breaking 1 billion? This data looks impressive, but we need to ask where the supply line is—can a funding of only 2.5M support this project? They're hyping it up at an early stage, but I'm more concerned about liquidity depth and slippage control. Don't let a big order cause a liquidation. The more flexible the leverage, the greater the risk. History has shown that these kinds of projects are most likely to become retail investors' meat grinder. Participating in the testnet is fine, but don't treat real money as an experiment. Position management is always the first lesson.

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DeFiGrayling

· 01-09 02:36

This trading volume breaking 1 billion is quite intense, but why is the funding only 25 million? It feels a bit shaky. Perpetual leverage can easily lead to liquidation if played recklessly. I prefer to stay on the sidelines for now. Testing on the testnet is worth a try, just to earn some points and have fun. Early-stage projects also carry significant risks; you need to understand the mechanism clearly before jumping in. How does it compare to Dydx and GMX? That's the key question.

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