4 days ago
Valantis, a decentralized speech (DEX) protocol, has acquired Staked Hype (stHYPE), the second-largest liquid staking token (LST) connected Hyperliquid. Financial presumption of the woody were not disclosed.
stHYPE, which launched arsenic the archetypal LST connected HyperEVM, presently holds astir $180 cardinal successful full worth locked (TVL), according to the stHYPE website.
Following the deal, stHYPE’s operations, development, and scaling volition beryllium managed by Valantis Labs. Addison Spiegel, laminitis of Thunderhead, the squad down stHYPE, volition service arsenic an advisor to Valantis.
Liquid staking has go a cardinal pillar wrong Hyperliquid’s ecosystem. According to DeFiLlama, liquid staking accounts for much than fractional of Hyperliquid L1’s $2.26 cardinal successful DeFi TVL
The acquisition builds connected Valantis’ earlier motorboat of LST-specific DEX pools for some stHYPE and hHYPE, which unneurotic person attracted astir $70 cardinal successful TVL and processed much than $500 cardinal successful trading volume.
Valantis said successful a property merchandise it plans to grow stHYPE’s integrations with its DEX and HyperCore, with the extremity of establishing a broader liquidity web for Hyperliquid.
HyperEVM, which went unrecorded successful February, has grown to much than $2 cardinal successful TVL crossed astir 100 protocols.
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