What to know:
- Valantis has acquired stHYPE, the second-largest liquid staking token (LST) on Hyperliquid, holding around $180 million in TVL.
- Operations for stHYPE will be managed by Valantis Labs, with Addison Spiegel, the founder of Thunderhead, joining as an advisor.
- Liquid staking is crucial for Hyperliquid’s growth, representing over half of its $2.26 billion in TVL since its launch.
Valantis, a decentralized exchange protocol, recently acquired Staked Hype (stHYPE), enhancing its stake in liquid staking without disclosing the deal’s financial details. Currently, stHYPE accounts for about $180 million in total value locked (TVL).
In the wake of this acquisition, stHYPE’s operations will be overseen by Valantis Labs, with Addison Spiegel, the founder of Thunderhead, positioned as an advisor.
Liquid staking is becoming a key component in Hyperliquid’s landscape, with reports indicating that it constitutes more than half of Hyperliquid L1’s $2.26 billion in DeFi TVL.
The acquisition also builds upon Valantis’ earlier launch of LST-specific DEX pools for both stHYPE and hHYPE, which combined have attracted around $70 million in TVL and managed over $500 million in trading volume.
Valantis plans to boost stHYPE’s integration with its DEX and HyperCore, aiming to create a broader liquidity network for Hyperliquid.
