Don't Lose Your Hyperliquid Airdrop!
Level 2 - Value Investor
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We’ve been bullish on Hyperliquid for a long time. The platform now has over 15,000 daily active users and open interest of $700mm. Volumes place it in the top 3 on-chain derivatives exchanges.
If you followed our guide from January (4 strategies to earn while farming points on Hyperliquid perps DEX) you’re now eligible for two airdrops
Hyperliquid’s governance token (if trading fees accrue to holders, this should be a multi billion dollar token based on DYDX and SNX tokens as comps)
Hyperliquid’s native meme coin, a cat coin with the ticker $PURR, used to kick off Hyperliquid’s spot trading markets
Not many people realize that Hyperliquid is a L1 as well as a DEX. With the initial supply being airdropped to market makers and high volume traders, we think the upside potential of $PURR could be a pleasant surprise for airdrop farmers.
However, you MUST log back in to Hyperliquid and accept their new Terms and Conditions or you will lose your eligibility for $PURR.
For points holders to qualify for $PURR on mainnet, they need to have accepted the updated Terms of Use on app.hyperliquid.xyz by EOD UTC on April 13. Important: you must do this even if you have previously accepted the Terms of Use. You will be prompted to review and accept the Terms of Use when you connect to the website.
We recommend depositing funds and placing a small trade or staking funds in the HLP vault after you accept the new terms. This is important because it creates an on-chain record that you used the platform after the new terms were accepted. We have such a large airdrop we’re paranoid about losing it on any glitch, e.g. if our acceptance of the new T&Cs wasn’t recorded properly.
HLP points are currently trading around $8 on secondary markets, we think a fair value for the governance component is between $8-12 at launch, with the memecoin being more of a wildcard but should be worth at least a couple of dollars.
Disclaimer: None of this is to be deemed legal or financial advice of any kind. These are opinions from an anonymous group of cartoon animals with Wall Street and Software backgrounds.
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Curious at what point (NW / salary) would you say it’s worth it to spend time doing airdrops, pools, etc? I haven’t dabbled in it because I feel like my time is better spent building my business and w-2.
I see people posting huge gains from all sorts of stuff but I don’t understand any of it, and don’t want to waste time
Thanks for pointing out WhalesMarket. I didn't know anyone can trade farmed points at all!
I have several questions wanting to ask but seems like nobody here ever asked.
1. How does one trade their Hyperliquid points since it is locked on the HL platform?
2. What is the token contract for the Hyperliquid airdrop tokens? Will it be on ETH L1 or L2?
3. What will be the demand and use cases of $PURR and will it be critical to scale HL in the future?