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Hyperliquid Airdrop Tutorial 2.0: Strategies for Earning from High-Potential Early Projects
Written by: Hixon
Compiled by: Deep Tide TechFlow
They say Faze Banks is always one step ahead. Wrong, Blocmates are (usually) the first ones.
In fact, to be frank, when it comes to Hyperliquid, we are among the earliest pioneers.
Some people joined us in mining, while others did not, but that's okay. Perhaps the second important opportunity is right in front of us.
The current state of the market is such that if you weren't born in the trading hall, or if you are not one of those "magicians" who can always perfectly long or short on some X platform, then you are likely experiencing losses (so am I).
Don't worry, those who have persevered will eventually prosper. My plan is simple: during market downturns, I will focus on the Hyper EVM ecosystem and try to secure an opportunity for the third quarter HYPE airdrop.
In addition, all the protocols mentioned in the text will airdrop their native tokens, which is a win-win strategy.
Please remember that 38.8% of HYPE is still reserved for future distribution and rewards:
Before diving deeper, it is important to note that these protocols are all in early stages. Do not invest more than you are willing to lose.
At the same time, I will only mention those most important protocols that have received broad support from the Hyperliquid core community.
The Current Status of Hyper EVM
As of the time of writing, only about 1.6% of the total HYPE circulation is deployed on Hyper EVM. This means that from now on, you can consider yourself an early participant, just like mining started in the first couple of months of the first season.
Source: HypeBurn
However, please note that this ratio has doubled in the past week. Attention is increasing, and once the third quarter is announced (currently just speculation, but the likelihood is high), the influx of funds will surge.
By looking at the top seven applications on DefiLlama, we can clearly see the current protocol leaders. We will focus on these protocols and many other projects.
Source: DefiLlama
How to Transfer HYPE to Hyper EVM
The easiest way to start is to bridge USDC to Arbitrum and then deposit it into Hyperliquid. Next, use the "Spot" feature to purchase HYPE (you can find the "Spot" option in the token search bar). Once you hold HYPE, simply click the "Transfer to EVM" button to bridge it to Hyper EVM.
You can also directly use HyBridge for bridging.
Now that we're ready, let's get into the specific applications.
KittenSwap
Starting from decentralized exchanges (DEX). KittenSwap is currently the main 3,3 DEX on Hyperliquid EVM. Remember the Shadow on Sonic? It's a similar story.
The best way to mine on KittenSwap is to choose a liquidity pool that you like. The less the total liquidity (TVL) of the pool, the more points you earn. For example, I chose the HYPE/PURR pool because I found that the price trend of PURR is similar to that of HYPE, which means I won't suffer too much impermanent loss.
If you want to get a 1.28 times points bonus, you can purchase a MechaCat on Drip.Trade. In addition, MechaCat NFTs themselves will receive 3% of the total airdrop.
In the spirit of Hyperliquid, the points miners will receive 30% of the total supply and will be regarded as the earliest participants.
Join KittenSwap: Click here
HyperSwap
HyperSwap is currently the second largest DEX on Hyper EVM.
A lower TVL means less competition, which may provide a good opportunity for users with less capital. Similar to KittenSwap, simply choose your preferred liquidity pool and start mining. Points are distributed every Sunday.
HypurrFi
HypurrFi is a place where you can enhance HYPE by depositing and borrowing USDXL stablecoins. Pay attention to your health factor and liquidation level, which can be seen on the homepage.
Then, you can use USDXL in the aforementioned KittenSwap or HyperSwap liquidity pools. In this way, you will earn double rewards and increase your Hyper EVM activity.
Looped Hype
This is another leveraged opportunity, suitable for those who want to increase their HYPE staking rewards or use LHYPE in the DEX pool. Similarly, through this method, you can earn more points and enhance Hyper EVM activity. This is the strategy.
Stake your HYPE
You can choose to stake your HYPE on the official Hyperliquid staking page, or use the following LST (liquid staking token) providers:
If the third quarter becomes a reality, all of this will increase your points.
Drip Trade
Drip Trade is the main NFT hub of Hyper EVM, which has attracted a large amount of activity.
Hypers is the official series of the Drip Trade project, and it may receive token allocation when the DRIP token is released.
I personally also bought some Hypios (these Hypio mining points are a leading series that has obtained many whitelists), MechaCats, and Tiny Hyper Cats.
HyperLend
HyperLend is positioned as the Aave of Hyperliquid and has seen significant adoption.
For this project, you may need to wait for the limit to increase, as many users have already accumulated points here.
Hyper Unit
Hyper Unit supports depositing native BTC and ETH into Hyper EVM. Over 1000 ETH have already been deposited, and I believe that by the time this article is published, that number will increase rapidly.
Just use its deposit page. The official Hyperliquid account actively promotes this project on platform X, so I think the rewards boost is worthwhile.
Mizu Labs
This project is very interesting. Mizu Labs aims to be the unified liquidity layer of Hyper EVM.
Currently, they offer hypeETH and hypeBTC vaults. These vaults will automatically deploy your tokens to all key protocols inside and outside of Hyperliquid.
These vaults not only help you earn points but also increase your Hyper EVM activity. To obtain hypeETH on HyperEVM, please refer to the guide.
Felix Protocol
Felix provides the key infrastructure that is still missing and needs improvement in the Hyper EVM ecosystem: stablecoins.
Once Felix is fully live, you can deposit HYPE and mint feUSD. Again, you can use feUSD in various liquidity pools for double rewards and EVM activity.
In addition, you can also participate in the HYPE stable pool and earn HYPE rewards through Felix's liquidation.
Projects Worth Attention
You can play, swap, provide liquidity, lend, and cycle through the ten protocols mentioned above every week... But if you really want to dig into this airdrop, there are more projects to explore.
Here are some projects worth paying attention to. Important note: some of these projects are even earlier stage and less well-known than the top ten. Please be aware of the risks.
Summary
Despite the current market being very sluggish, opportunities like this are hard to ignore. Personally, I will keep some funds and remain active on HyperEVM every week while looking for new projects.