引入HypereVM生態系統：Felix協議，Mizu Labs，Drip.Trade等的採礦機會

本文在HypereVM生態系統中介紹了多個DEFI協議，包括Felix，Mizu Labs，Drip.Trade，Trade，Hyperswap等。

Author: @castle_labs

作者：@castle_labs

Compiled by: zhouzhou, BlockBeats

編譯者：khouzhou，blockbeats

Editor's Note: This article introduces multiple DeFi protocols in the HyperEVM ecosystem, including Felix, Mizu Labs, Drip.Trade, HyperSwap, etc., which provide opportunities such as staking, liquidity mining, and airdrop rewards. By participating in these protocols, users can obtain multiple benefits and ecological points, and may receive future token allocations. The HyperEVM ecosystem shows great potential, and the value of early activities is underestimated, giving users who missed the first wave of airdrops a second chance.

編者註：本文在HypereVM生態系統中介紹了多個DEFI協議，包括Felix，Mizu Labs，Drip.Trade，Trade，Hyperswap等，這些方案提供了諸如Staking，流動性挖掘和氣流獎勵之類的機會。通過參與這些協議，用戶可以獲得多個好處和生態觀點，並可能獲得未來的令牌分配。 HypereVM生態系統表現出巨大的潛力，而早期活動的價值被低估了，這使您錯過了第一波AirDrops的用戶是第二次機會。

The following is the original content (for easier reading and understanding, the original content has been reorganized):

以下是原始內容（為了更容易閱讀和理解，原始內容已重新組織）：

Dump the brightness all the way up on your screen. We’re going deep into the Hyperliquid ecosystem.

將亮度一直倒在屏幕上。我們將深入到達超流動生態系統。

Unless you’ve completely left the crypto scene, you’ve probably noticed it: Hyperliquid is everywhere. It’s one of the few projects that has executed a TGE strategy with pinpoint accuracy, creating a lot of wealth while keeping the entire ecosystem growing.

除非您完全離開了加密貨幣場景，否則您可能會注意到它：超級流動無處不在。這是以精確的精確性執行TGE策略的少數項目之一，在保持整個生態系統的增長的同時創造了很多財富。

While most traders focus on the perpetual contract layer, which has indeed found product-market fit and built one of the most active "believers" in the crypto world, the application layer that is expanding around HyperEVM is often overlooked. And the real opportunity lies here.

儘管大多數交易者都專注於永久合同層，但確實發現了產品市場合同並建立了加密貨幣世界中最活躍的“信徒”之一，但圍繞HypereVM擴展的應用層經常被忽略。真正的機會就在這裡。

Castle has covered the core of Hyperliquid in this analysis:

在此分析中，城堡涵蓋了混血的核心：

Today, we’ll be breaking down the emerging mining landscape around HyperEVM, including how it’s evolving, who’s most likely to receive rewards, and how to get in on the action now at an early stage.

今天，我們將分解HypereVM周圍新興的採礦景觀，包括它的發展方式，最有可能獲得獎勵的人以及如何在早期階段進行行動。

What happened and what happens next?

發生了什麼，接下來會發生什麼？

@hyperliquidx's first airdrop in November 2024 was a historic event, distributing 31% of its total token supply to over 90,000 users. The token was issued at $3.2 and rose to a high of $34. The airdrop was worth over $10.5 billion at its peak, making it one of the largest wealth transfers in crypto history.

@Hyperliquidx在2024年11月的第一台Airdrop是一項歷史性活動，將其代幣供應量的31％分配給了90,000多名用戶。代幣的發行價格為3.2美元，上升至34美元。該空調在其高峰期價值超過105億美元，使其成為加密歷史上最大的財富轉移之一。

The opportunity is huge and still in its early stages. HyperEVM is live, the core protocol is running, and various points systems are incentivizing user behavior.

機會很大，仍處於早期階段。 HypereVM正在實時，核心協議正在運行，並且各種點系統正在激勵用戶行為。

Liquidity across the ecosystem remains thin, and this is often the best time to get the most bang for your buck. Hyperliquid has distributed 31% of the total supply so far, with another 39% still undistributed. At current valuations, this means there is nearly $4 billion in $HYPE that could potentially be distributed to future participants.

整個生態系統的流動性仍然很稀少，這通常是獲得最大收益的最佳時機。迄今為止，Hyproliquid已分配了總供應量的31％，另有39％的人仍未分配。目前，這意味著可能有將近40億美元的$炒作，可能會分發給未來的參與者。

And it’s not just about $HYPE itself. Native protocols like @Kittenswaphype, @HyperLendx, and @HypurrFi are also running their own points campaigns, which can earn rewards now and have the potential to be superimposed with future ecosystem incentives.

這不僅是$ $炒作本身。 @kittenswaphype，@hyperlendx和@hypurrfi等本機協議也正在運行自己的積分廣告系列，這些活動現在可以贏得獎勵，並有可能與未來的生態系統激勵措施疊加。

The market has not yet fully reacted. The overall participation is still low, attention is scattered, and few people can make accurate arrangements. If this cycle unfolds according to the logic of the previous cycle, the earliest and most active participants will reap the greatest rewards.

市場尚未完全反應。總體參與仍然很低，注意力散佈，很少有人可以進行準確的安排。如果這個週期根據上一個週期的邏輯展開，則最早，最活躍的參與者將獲得最大的回報。

So, who is most likely to benefit next?

那麼，誰最有可能受益？

From the history and current situation of Hyperliquid, there are several key groups worth paying attention to:

從高流動性的歷史和當前狀況來看，有幾個關鍵群體值得關注：

1.KittenSwap – ve(3,3) model DEX for HyperEVM - @kittenswaphype

1.KittensWap - ve（3,3）HypereVM的型號 - @kittenswaphype

KittenSwap is the main DeX on HyperEVM, using a ve(3,3) model similar to Velodrome and Solidly. It supports stablecoin and volatile token trading pairs, and rewards long-term users through fee dividends, points programs, and governance mechanisms.

KittensWap是HypereVM上的主要DEX，使用類似於速度和穩固的VE（3,3）模型。它支持Stablecoin和揮發性令牌交易對，並通過收費，積分計劃和治理機制來獎勵長期用戶。

As the DEX with the largest trading volume and TVL in the ecosystem, KittenSwap is the core hub of HyperEVM liquidity. Many new protocols will choose to launch tokens or create stablecoin trading pairs here.

作為生態系統中交易量和TVL最大的DEX，KittensWap是HypereVM流動性的核心樞紐。許多新協議將選擇在此處啟動令牌或創建Stablecoin交易對。

KittenSwap recently launched centralized liquidity pools, allowing custom price ranges and temporarily increasing the point multiplier rewards. Some trading pairs currently receive up to 20x point rewards (such as LHYPE/HYPE and USDXL/HYPE), while the multipliers for standard pools have been reduced. This indicates that the protocol will be more inclined to support centralized liquidity in the future.

KittensWap最近推出了集中的流動性池，允許定制價格範圍並暫時增加點乘數獎勵。目前，一些交易對獲得20倍的獎勵（例如LHYPE/HYPE和USDXL/HYPE），而標準池的乘數已減少。這表明該協議將來將更傾向於支持集中流動性。

Mining strategy

採礦策略

Add liquidity to high-yield pools - focus on pools with high multiples, such as PURR/HYPE, LHYPE/HYPE, and USDXL. Avoid pools with high total locked volume and diluted rewards.

將流動性添加到高收益池中 - 專注於具有高倍數的池，例如purr/hype，lhype/hype和usdxl。避免鎖定量高的池和稀釋獎勵。

Stake LP tokens to earn points - After adding liquidity, stake LP tokens on KittenSwap to earn points. Points are updated weekly and determine your allocation share in future token issuance.

Stake LP代幣以賺取積分 - 在增加了流動性後，在KittensWap上的Stake LP令牌賺取積分。積分每週更新，並確定您將來的代幣發行中的分配份額。

Increase your earnings with MechaCats NFTs - Hold MechaCats NFTs to get bonus points:

增加您使用Mechacats NFTS的收入 - 持有Mechacats NFT以獲取獎勵積分：

1–9 NFTs = 1.25x

1–9 NFTS = 1.25x

100–199 = 1.4 times

100–199 = 1.4次

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