HyperliquidEnded
Hyperliquid Points· L1 season· 31.0% of supplyconfirmedConfirmed by the team or on-chain
Open interest
$11.09B
24h volume
$2.82B
TVL
$8.20B
Annual revenueVolume annualised at a 3.15bps blended take rate.
$324.06M
Points outstanding
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RunningStarted 2023-11-01, ended 2024-11-29
394d
Not tracked — enter an estimate
$
The token trades, so this is its live market FDV as of 2026-10-23 rather than an estimate.Multiples model: what comparable perp DEXs launched at, applied to this venue's revenue, volume, open interest and TVL. Range $5.35B–$22.35B.Regression on Revenue · ecosystem, n=10, refit daily on listing-day and live FDVs. Range $8.76B–$95.59B.
%
confirmedConfirmed by the team or on-chainProgramme estimate
Value per point
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Add total points to price a point.
Your holding
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Enter your points to see what they're worth.
Sensitivity · $/point
Not enough data to model
Needs points outstanding, an expected airdrop percentage and at least one valuation factor.
Rows are launch FDV (log-spaced around the FDV set in the calculator); columns are the share of supply going to the airdrop. Cells are the resulting value of one point, after any haircuts set under Advanced.
Fair-value breakdown
Annualised revenue$8.18B
$324.06M × 25.3×40%
Annualised volume$1.15B
$1028.77B × 0.0×25%
Open interest$13.22B
$11.09B × 1.2×20%
TVL$33.87B
$8.20B × 4.1×15%
Blended fair value$11.29B
p25–p75 band$5.35B – $22.35B
Multiples fitted on 6+ comparable launches. Weights are normalised across whichever factors survive, so dropping one reweights the rest rather than scoring it zero.
OTC price history
No OTC quotes for this programmeQuotes parsed from Telegram OTC desks, deduplicated and outlier-filtered.
GET /api/points/otcDaily medians of anonymous desk quotes. Treat as sentiment, not a price — a desk that wants to move the printed mid only has to post into the channel.
Emissions & dilution
No emission historyWeekly points issued, so you can see how fast your share is being diluted.
GET /api/points/emissionsEvery point issued after you earn yours dilutes your share of the same pool. A programme emitting steadily is worth less per point tomorrow than today, all else equal.
What we know0 facts
The original points programme: Season 1 ran 2023-11-01 to 2024-05-01 at 1M points/week, then an L1 season from 2024-05-29 until the HYPE TGE on 2024-11-29 at 700k/week. ~310M HYPE (~31% of 1B) went to ~94k wallets with no claim process. No subsequent points season has been documented; trading today earns fee discounts via HYPE staking, not points. Status is ended rather than none because there was a real conversion. Fees are Tier 0 perps from official docs (4.5/1.5bps); staking discounts up to 40% stack on top. Ecosystem: HYPE prices the L1, not just the perp venue.
Statusended · L1 season
Facts last verifiednot recorded
TGE expected—
Airdrop share of supply31.0% (team)confirmedConfirmed by the team or on-chain
Points outstanding—estimatedOur estimate — not published by the venue
Conversion ratios are set by each team at distribution time and no programme is obliged to ship a token. Never trade solely to farm an airdrop.