They say Faze Banks is always early. Wrong. Blocmates is (usually) always early. In fact—humble flex—when it comes to Hyperliquid, we were the earliest.
Some of you farmed with us, some didn’t, but that’s ok. The second most significant opportunity might just be right around the corner.
We’re currently going through a market phase where, if you weren’t literally born on the trading floor or you aren’t one of those magicians from X who are constantly long or short at the perfect time, you’re most likely hurting (me too).
Worry not; those who survive will thrive. My plan is exactly this: while the market is in the gutter, I will deploy to the Hyper EVM ecosystem and attempt to farm the Season 3 HYPE airdrop.
In addition, all protocols mentioned below will airdrop their native tokens, so it’s a win-win situation.
Remember, there’s still 38.8% of HYPE reserved for future emissions & rewards:
Before we get into it, it’s important to note that these are early-stage protocols. Don’t deploy more capital than you’re willing to lose.
At the same time, I’m mentioning only the most important ones, widely supported by the core Hyperliquid community.
Let’s get into it.
State of Hyper EVM
When writing this, only around 1.6% of the total circulating HYPE is deployed on the Hyper EVM. This means starting now; you can consider yourself being as early as beginning to farm the first point season during the first month or two.
Nevertheless, keep in mind this percentage doubled just over the last week. The attention is growing, and once Season 3 is announced (speculation for now, but highly likely), the inflows will blow up.
Looking at the top 7 apps on DefiLlama, we can clearly spot current protocol leaders. We will focus on all of these, plus quite a few more.
How to get your HYPE to Hyper EVM
First things first. The easiest way is to bridge USDC to Arbitrum, and deposit to Hyperliquid. Then buy spot HYPE (you can see the “spot” section in the token search bar), and once you have it, simply bridge it to the Hyper EVM by clicking the “Transfer to EVM” button.
You can also use the HyBridge to bridge directly.
Now you’re ready, let’s get to the apps.
KittenSwap
Let’s start with DEXs. KittenSwap is the current leader, positioning itself as the main 3,3 DEX on Hyperliquid EVM. Remember Shadow on Sonic? This is the same story.
Farming Kittenswap is best done by choosing your favorite pool. The less TVL is in the pool, the more points you will get. For example, I decided to deploy into the HYPE/PURR pool, as I can see PURR roughly copying the price action of HYPE, which means I won’t suffer so much impermanent loss.
If you want to gain a 1.28x multiplier on your points, you can buy a MechaCat here on Drip.Trade. Plus, MechaCat NFTs themselves will earn 3% of the total airdrop.
In the spirit of Hyperliquid, point farmers will receive 30% of the total supply and are considered the earliest entrants.
Join KittenSwap here.
HyperSwap
HyperSwap is currently the second-best DEX on Hyper EVM.
Less TVL means less competition, which might mean a good opportunity for those with less capital to deploy. Similar to KittenSwap, simply choose your favorite pool and start farming. Points are delivered every Sunday.
HypurrFi
HypurrFi is where you can level up your HYPE by depositing and borrowing USDXL stablecoin. Watch out for your health factor and liquidation levels, which you can see on the main page.
You can then use USDXL in the KittenSwap or HyperSwap pools mentioned above. This way, you’ll hit double the points and increase your overall Hyper EVM activity.
Looped Hype
Another leverage opportunity for those who want to either boost the staking yield of their HYPE or use LHYPE in DEX pools. Again, this way, you can get more points plus increase the Hyper EVM activity. That’s the game.
- Stake your HYPE
You can either stake your HYPE inside the official Hyperliquid staking page or use one of these LST providers:
If Season 3 becomes a reality, all of these will increase your points.
Drip Trade
Drip Trade is the main NFT hub for Hyper EVM and is already seeing a considerable amount of activity.
Hypers is the official collection of the Drip Trade project, and it will likely receive a token allocation when the DRIP token is released.
Personally, I also snagged some Hypios (these farm Hypio points also and is a leading collection receiving many whitelists), MechaCats, and Tiny Hyper Cats.
HyperLend
HyperLend is positioning itself as the Aave of Hyperliquid and is already seeing significant adoption.
For this one, you will likely need to wait for the caps to increase, as many users are already farming the points here.
Hyper Unit
Hyper Unit enables native BTC and ETH deposits to Hyper EVM. More than 1,000 ETH have already been deposited, and I’m sure the number will rise rapidly by the time this article is released.
Simply use their deposit page here. Official Hyperliquid accounts on X actively promote this one, so I suppose the point boost will be worth it.
Mizu Labs
This one is really nice. Mizu Labs aims to be the unified liquidity layer for Hyper EVM.
Currently, they are providing hypeETH and hypeBTC vaults. These vaults will take your coins and automatically deploy them across all the essential protocols inside and outside Hyperliquid.
These vaults will simply farm points for you while increasing your Hyper EVM activity. To get hypeETH on HyperEVM, use this guide.
Felix Protocol
Felix is providing a critical Hyper EVM infrastructure piece—one that’s still missing and needs improvement: stablecoins.
Once Felix is fully launched, you can deposit HYPE and mint feUSD. Once again, you can use feUSD in various pools and double your points/EVM activity.
Moreover, you can participate in HYPE stability pools, getting payouts in HYPE generated by liquidations on Felix.
Honorable mentions
You can play around with the ten protocols mentioned above every week, swapping, LPing, borrowing, and looping… but if you want to really grind this airdrop out, there’s always more to explore.
Here are some honorable mentions. Important note: some of these are even earlier and not as known as the top 10 above. Keep the risks in mind.
Concluding thoughts
Even though the market is really bad right now, opportunities like this are hard to ignore. Personally, I will keep some capital and be active on HyperEVM every week now, while scouting for new projects (keep an eye out on the newsletter).
Good luck out there.
Hyperliquid.
