Sustainable Growth Is Important

Yesterday, we made a decision to lower XP benefits right as we hit an all-time-high in $871k USD daily revenue on builder codes. Today, our daily revenue on builder codes is ~$300k USD. This is a reminder to users of Based that our goal is to ensure all of you turn a healthy PNL when trading. The goal was never to extract value from the space with the use of Builder Fees. We aim to sustainably grow the ecosystem with our trading revenue.

Recently, a post made its rounds about how airdrops are inherently bad. This is not the case. Inflated expectations against mismatched outcomes are what necessitates a bearish outcome for airdrops. We do not wish for this to happen for projects that launch via us. This is why it is important to us that our traders are trading healthily and not aiming to maximise volume for maximum airdrops. Do take the airdrops as a bonus when they come, and you will be suprised by the outcomes.

On a happier note, HyperEVM graduate tokens are now trading around ~70m USDC in daily volume, a 3x of what it is versus yesterday. This is a positive outcome overall as liquidity flows into meaningful projects that not only bring more eyeballs to Hyperliquid, but also creates a virtuous cycle of liquidity seeping into good HyperEVM projects. We aim to do more for such HyperEVM graduate tokens, and have a few plans to do so. Do watch this space.

Stay Based.
Hyperliquid

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