Hyperliquid's Ecosystem Is Printing — Here's What I'm Farming

Hyperliquid's Ecosystem Is Printing — Here's What I'm Farming

Everyone's aping into Hyperliquid and for good reason. The chain launched in November and already has better liquidity than most L2s that have been around for years. I've been rotating through different protocols on HyperEVM for the past month and there's real alpha here if you know where to look.

Why Hyperliquid actually matters

Most new chains are ghost towns with 3 forks of Uniswap and nothing else. Hyperliquid's different because it started as a perps DEX that already had product-market fit — $100B+ trading volume before they even had an L1. Now that HyperEVM is live, everything launching on it has instant liquidity and actual users.

The validator set is fully permissionless and they're running native USDC which means no bridge drama. If you've been farming L2s for a while you know how rare that is.

What I'm actually farming

HyperLend is the obvious one. It's their main lending protocol and everyone expects a token. I'm depositing stables and borrowing against them to farm points. The UI is clean and gas is basically free so I can rebalance positions without bleeding fees.

Hyperliquid itself (the main DEX) has airdrop history — they dropped HYPE token to early users and it went parabolic. Now there's a points system for HyperEVM activity. Every trade, every interaction, it all counts. I'm doing small perp trades daily just to keep activity up.

Coinpilot is interesting if you're into copy trading. You basically mirror top traders' positions automatically. Not sure on tokenomics yet but they're raising VC money and the app actually works, which is more than I can say for most "AI trading" grifts.

HyperFlash combines liquid staking with flash loans. Niche use case but the TVL is growing fast. Might be worth a small deposit just to get in early.

Catapult is doing liquidity bootstrapping (think Fjord Foundry but for Hyperliquid). If they become the default launchpad for HyperEVM tokens that's a strong moat. I'm planning to participate in a few launches there even if the projects are mid — it's about the Catapult points.

Full list of what's live is on https://jeetdrops.xyz/chain/hyperliquid if you want to see all 23 projects. I'm personally rotating between 5-6 at a time because spreading too thin means you're not getting meaningful points anywhere.

How to actually farm this

Don't overthink it. Bridge some ETH to Hyperliquid (the main bridge is native, no Stargate needed). Swap for USDC on the Hyperliquid DEX. Then split it across 3-4 protocols.

I'm doing:

- 40% in HyperLend (borrow/lend for points)

- 30% in Hyperliquid perps (small daily trades)

- 20% in HyperFlash (liquid staking)

- 10% in Catapult (launch participation)

Don't ape your whole stack into one protocol. These are all unaudited and HyperEVM is 3 months old. But if you're already farming other chains this is one of the better risk/reward setups right now.

Why this could actually pay off

Most ecosystems do a "DeFi Summer" airdrop campaign where every protocol drops tokens in the same month. Arbitrum did it, Base is doing it, and Hyperliquid probably will too once they have 15-20 major protocols live.

We're at 23 now. Could be soon.

The other angle is that HYPE token itself has only 31% circulating supply. They're sitting on a massive treasury and have been known to airdrop it to ecosystem participants. If you're farming Hyperliquid protocols and holding some HYPE, you're basically double-dipping on potential rewards.

I don't usually shill specific chains but the activity here is real. Check Dune dashboards — daily active addresses are growing while most other new chains are flatlining. That matters more than promises.

Anyway, that's where my liquidity is this month. Not financial advice obviously but if you're already farming chains, Hyperliquid should be on your rotation.