The two major wins from this last cycle Hyperliquid and Ethena core mechanics were not driven by composability
Hyperliquid is its own isolated perp dex
Ethena's yield is from offchain basis trades
Now that they have distribution, they're adding *back* composability. Hyperliquid with its own EVM L1, and Ethena with Converge network
Interestingly both sourced their initial liquidity from the Ethereum ecosystem. Hyperliquid from Arbitrum One and Ethena on mainnet
Show original
21.3K
142
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.