How Hyperliquid Hit $330B Volume With Just 11 People

Key takeaways:

Hyperliquid processed around $330 billion in trading volume in July 2025, briefly surpassing Robinhood.
A split-chain design enabled CEX-like speed while keeping custody and execution onchain.
The HLP vault and Assistance Fund buybacks aligned traders, market makers and token holders in a reinforcing loop.
A large airdrop, Phantom Wallet integration and self-funded operations helped attract users and sustain adoption.

A year after launching its own layer 1 (L1), Hyperliquid has become one of decentralized finance’s (DeFi) top perpetuals…