1 week ago
The yield-bearing vault created by decentralized speech HyperLiquid has grown from $163 cardinal to $418 cardinal implicit the past 2 months contempt centralization concerns astir the JELLY marketplace fiasco successful March, information from DefiLlama shows.
The vault, which acts arsenic an interior marketplace shaper and gives depositors a yield, was underwater by $13.5 cardinal aft a idiosyncratic manipulated the scale terms of JELLY successful March.
HyperLiquid minimized these losses by forcibly closing the JELLY market, settling it astatine $0.0095 arsenic opposed to $0.50 that was being fed to oracles via decentralized exchanges.
This led to an exodus of superior from the HyperLiquid platform, full worth locked (TVL) dropped from $510 cardinal to $150 cardinal portion the HYPE token suffered a 20% downturn.
But each was soon forgotten successful portion owed to the emergence of James Wynn, a derivatives trader that made and lost $100 million connected HyperLiquid successful a week. His nationalist trades and commentary generated a wealthiness of bullish sentiment astir HyperLiquid arsenic the level managed to grip the nine-figure positions successful presumption of liquidity and slippage.
Over that period, TVL accrued on with HYPE, which is present up by 72% successful the pat 30-days.
The HyperLiquid vault is presently returning 13.42% successful yearly interest, beating assorted restaking protocols that connection around 9.1%.
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