Original Summary

Hyperliquid's Cumulative Protocol Revenue Exceeds $1.4 Billion, With Over $1.26 Billion Spent on Open-Market HYPE Buybacks According to an onchain perpetuals market research report by Castle Labs, Hyperliquid's cumulative protocol revenue has exceeded $1.4 billion, with more than $1.26 billion spent on open-market HYPE buybacks. It holds over 56% of the onchain perpetuals market by open interest. The report notes that Hyperliquid's Builder Codes mechanism gives third-party wallets and apps access to its trading infrastructure, allowing them to integrate perpetuals trading and earn revenue without building their own systems. Phantom has earned more than $25 million in cumulative revenue through the mechanism, while MetaMask has earned over $10.5 million.

  • 情报分类：商业与市场研究
  • 分类依据：内容涉及商业、投资或市场动态
  • 信息来源：金融 / 加密市场 / Wu Blockchain @WuBlockchain
  • 发布时间：2026/10/10 12:01:58