Hyperliquid’s cumulative protocol revenue surpassed 1400000000 USD, with the report stating that more than 1260000000 USD was used for buybacks HYPE
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Castle Labs The report stated that Hyperliquid’s protocol revenue exceeded 1400000000 USD, of which more than 1260000000 USD was used for buybacks HYPE。
Article
Hyperliquid’s cumulative protocol revenue surpassed 1400000000 USD, having spent more than 1260000000 USD to buy back HYPE BlockBeats reported that October 10, according to a report on the on-chain perpetual futures market published by Castle Labs Hyperliquid’s cumulative protocol revenue has surpassed 1400000000 USD, of which more than 1260000000 USD was used to buy back HYPE Based on open interest, Hyperliquid currently accounts for more than 56%of the on-chain perpetual futures market.
The report also noted that Hyperliquid’s Builder Codes mechanism allows third-party wallets and applications to connect to its trading infrastructure, integrating perpetual futures trading and generating revenue without building their own systems. Through this mechanism, Phantom’s cumulative revenue has exceeded 25000000 USD, while MetaMask’s cumulative revenue has exceeded 10500000 USD.
Original link https://m.theblockbeats.info/flash/371126
Key points
01
According to Castle Labs a research report, Hyperliquid’s cumulative protocol revenue has surpassed 1400000000 USD。
02
The report stated that more than 1260000000 USD was used to buy back on the open market HYPE。
03
Based on open interest, Hyperliquid currently accounts for more than 56%of the on-chain perpetual futures market.
04
The report noted that Hyperliquid’s Builder Codes mechanism allows third-party wallets and applications to connect to its trading infrastructure, integrate perpetual futures trading, and generate revenue.
05
The report stated that Phantom’s cumulative revenue through Builder Codes has exceeded 25000000 USD, while MetaMask’s cumulative revenue has exceeded 10500000 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Protocol revenue is the revenue generated by the platform’s business; a buyback is the purchase of HYPE. Open interest reflects the size of unsettled contracts. The data in the article all comes from BlockBeats’ account of the Castle Labs report.
Why it matters to readers
If the report’s data is accurate, these figures reflect Hyperliquid’s protocol revenue,HYPE buyback amount, share of the on-chain perpetual futures market, and the revenue generated for third-party applications by Builder Codes.
For beginners, it is useful to distinguish among protocol revenue, token buybacks, and market share: these describe the platform’s revenue, the amount of HYPE purchased on the open market, and the share of its open interest in the relevant market, respectively.
Risks and unknowns
The provided material does not include the full text of the Castle Labs report or independently verifiable on-chain details.
The report’s data definitions, statistical cutoff date, and calculation methodology are not explained in the main text.
The material does not specify the particular execution records, time period, or subsequent plans for the buyback of HYPE.
The statistical definitions and time period for the Builder Codes revenue data are not specified.
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Related concepts
Protocol Revenue
This term is not in the glossary yet. Browse related concepts in the glossary.
A derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
