Hyperliquid, a perpetual futures exchange, has recorded over $1.57 trillion in trading volume in the past 12 months, generating approximately $310 million in cumulative revenue. In June alone, the platform reached $208 billion in trading volume, surpassing the combined total of other on-chain perpetual platforms. Hyperliquid holds over 70% of the on-chain perpetual trading market share. Recently, Kinetiq, a liquid staking protocol, launched its kHYPE token on Hyperliquid's mainnet, enabling users to stake HYPE tokens for kHYPE. Within the first hour of launch, 4.6 million HYPE tokens, valued at around $220 million, were staked. The kHYPE launch has attracted substantial liquidity and momentum, positioning Kinetiq as a leading liquid staking solution on the HyperEVM network. Additional developments include the introduction of a kPoints system for stakers and integration with other protocols such as Valantis Labs and Rumpel, which onboarded Kinetiq and 0xHyperBeat strategies shortly after the kHYPE launch. As of mid-July, kHYPE's total value locked (TVL) reached $471 million, with ongoing efforts to expand liquidity and tokenizable point streams for users.