Hyperliquid started as a crypto perps DEX

But now, almost 50% of the total volume is HIP-3
52.3% — Crypto
47.7% — HIP-3
And HIP-3 is accelerating:
> $1.7B OI (+25% WoW growth)
> already 43% of total revenue
Notably, at first, it was just a part of ecosystem
@chameleon_jeff and team positioned HIP-3 as an extension — but it is now rapidly approaching a point where it could become the #1 revenue driver on Hyperliquid