$HYPE has almost become the sole highlight in the recent crypto market. While $HYPE continues to hit new all-time highs, this momentum has finally led to a rise in related projects within the HyperEVM ecosystem.

Kinetiq($KNTQ)

Kinetiq is a liquidity staking protocol on Hyperliquid, the number one project in TVL on HyperEVM, and currently the only project with a TVL exceeding $1 billion.

Users can stake $HYPE through Kinetiq to receive $kHYPE, which represents their staked position while maintaining liquidity, allowing them to interact with various DeFi projects on HyperEVM. Kinetiq also has its own Kinetiq Earn vault in partnership with Veda, where users can directly deposit $kHYPE or $HYPE to earn $vkHYPE. The vault automatically executes DeFi strategies, allocating funds to various yield protocols and distributing the earnings to vault users.

Kinetiq's StakeHub system automatically delegates users' staked $HYPE to the best-performing validator nodes and continually monitors their performance, continuously rebalancing the staking flow. As validation rewards flow to all $kHYPE holders, the value of $kHYPE continues to grow.

$KNTQ is Kinetiq's governance token. Staking $KNTQ earns $sKNTQ with a 7-day withdrawal cooldown. Currently, the circulating staking ratio of $KNTQ is 34.94%. Protocol revenues, excluding a portion reserved for project operations (30% of liquidity protocol revenue), are used to buy back $KNTQ and distribute it to $KNTQ stakers. The current buyback amount is approximately $190,000.

Essentially, the better and more sustainable $HYPE's performance, the higher Kinetiq's protocol revenue (measured in $HYPE) and the greater the buyback. This is also why some players refer to $KNTQ as "baby HYPE." In the past 7 days, $KNTQ has risen by about 48%, and in the past 30 days, it has risen by around 72%, with a current circulating market capitalization of approximately $80.66 million.

NEST($NEST)

NEST is a DEX on HyperEVM based on a voting trustee governance model, referred to as a "MetaDEX."

Unlike passively allocating transaction fees to liquidity providers or the treasury, MetaDEX redirects fees to token stakers, who vote on $NEST emissions and distribute them to liquidity providers.

In other words, the specific incentives for each liquidity pool are determined by $NEST stakers. $NEST stakers also receive 100% of the protocol's swap fee revenue, as well as kickback revenue from various liquidity pools.

The longer the staking duration, the greater the voting power and revenue share.

Around 40% of the fee revenue flows to the "Hype Engine" in the form of $MEGAHYPE rewards. Users can stake $veNEST in the Hype Engine, which will invest the $HYPE to earn more $HYPE, allowing 1 $MEGAHYPE to receive additional $HYPE.

Currently, approximately 20 million $NEST tokens are emitted weekly, but the coin's staking rate is extremely high. The total staking rate has reached 63.68%, with the staking rate in the previous emission period reaching as high as 86.6%. Over the past 7 days, $NEST has risen by about 62%, and over the past 30 days, it has surged by approximately 739%, with the current circulating market cap at around $5.78 million.

Liquid Labs ($LIQD)

This is a HyperEVM swap aggregator developed by a small team of 4. Looking at the revenue data, the project has generated only about $46,000 in the past 30 days. However, the $LIQD token has risen by 60% in the last 7 days and approximately 193% in the past 30 days, with a current market cap of around $3.35 million.

The project is currently focused on promoting their Liquid Core, a direct pricing AMM using the Hyperliquid native oracle for each swap without utilizing a price curve. This setup aims to provide better liquidity, execute predictable trades, and maintain extremely low slippage. Additionally, they have a Liquid Launch similar to pump.fun on the HyperEVM.

Purr ($PURR)

It is a meme coin deployed when the Hyperliquid announced the HIP-1 proposal at the end of March last year, later airdropped to early Hyperliquid users, serving as the mascot of Hyperliquid.

Additionally, the $HYPE treasury company Hyperliquid Strategies, Inc., listed on the Nasdaq, also has the ticker symbol PURR. The most expensive NFT on Hyperliquid, the official Hypurr, also contains the four letters PURR.

Undoubtedly, the largest meme coin on HyperEVM is $PURR, which is also the first meme coin to be listed on Hyperliquid. $PURR has increased by 31% in the past 7 days, approximately 93% in the past 30 days, with a current market cap of about $75.25 million.

alright buddy ($BUDDY)

The most influential native meme on Hyperliquid. It originally gained popularity due to an airdrop to Hypio and received support from the Hypio NFT community. "alright buddy" has gradually become a phrase commonly heard in the Hyperliquid ecosystem.

The $BUDDY token has increased by 20% in the past 7 days, approximately 103% in the past 30 days, with a current market cap of about $1.75 million.

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