GitHub
Project Overview
Hyperliquid is a purpose-built Layer 1 blockchain specifically designed for high-performance decentralized finance applications, with its flagship product being a fully on-chain perpetual futures exchange. The platform utilizes HyperBFT, a custom consensus algorithm, to achieve sub-second block latency and handle approximately 100,000 orders per second, making it significantly more performant than traditional blockchain networks.
The protocol stands out by maintaining all operations, including order books, matching engines, and margin states fully on-chain, avoiding the common practice of off-chain order books. This design choice ensures complete decentralization while delivering impressive performance metrics, with median transaction latencies of 0.2 seconds and 99th percentile latencies of 0.9 seconds, enabling both retail users and automated trading strategies to operate effectively.
Tutorial
Getting Started with Hyperliquid Trading
Welcome to this comprehensive guide on trading with Hyperliquid and earning points in the L1 season.
Initial Setup
- Connect your wallet to Hyperliquid
- Bridge USDC to Arbitrum and make your deposit
- Begin spot trading to earn L1 season points
Trading Options
There are multiple ways to participate and earn points:
- Spot Trading: Access through "Trade" - "Select instrument" - "Spot". Higher trading volumes typically result in more points earned.
- Perpetuals Trading: Navigate to "Trade" - "select instrument" - "All Coins" to access perpetual markets.
- HLP Participation: For passive earning, provide liquidity through the Hyperliquidity Provider vault. Note the 4-day lock period for deposits.
Additional Earning Opportunities
- Referral Program: Create your referral code under the "Referrals" section to earn additional rewards.
- PURR Trading: Consider trading the PURR memecoin, which may contribute to point earning potential.
- Weekly Distribution: Point distributions occur every Friday, viewable in the "Points" section.
Important Deadlines
Critical: Users must accept the Genesis Event terms & conditions by November 28th, 23:59 UTC to maintain HYPE claiming eligibility.