Valantis Acquires Staked Hype to Expand Liquid Staking in HyperLiquid Ecosystem

Valantis Acquires Staked Hype

In a significant development, the decentralized exchange protocol, Valantis, recently made an acquisition. The company targeted Staked Hype (stHYPE), which currently ranks as the second-largest liquid staking token (LST) on the Hyperliquid platform. While the financial specifics of the deal remain undisclosed, it’s notable that stHYPE holds around $180 million in terms of total value locked (TVL).

About Staked Hype and Its Development

In an interesting origin story, stHYPE launched as the first-ever LST on the HyperEVM platform. Post-acquisition, though, it will be Valantis Labs that oversees stHYPE’s development, operational activities, and scaling efforts. Hence, the acquisition is expected to streamline and enhance existing operations. This organizational shift does not signal complete management turnover, though. Sure enough, Addison Spiegel, who founded Thunderhead, the team that developed stHYPE, will now serve as an advisor to Valantis. In this role, Spiegel is expected to contribute strategic insights towards the betterment of stHYPE operations under Valantis.

Liquid Staking’s Role in the Ecosystem

Considered a pivotal element within the Hyperliquids ecosystem, liquid staking can no longer be ignored. Significantly, liquid staking constitutes more than half of Hyperliquid L1’s $2.26 billion in decentralized finance TVL. It is in this rising market context that Valantis has acquired stHYPE.

Building on Valantis’ Ambitions

This acquisition follows closely on the heels of Valantis’ earlier initiative where the company had launched LST-specific DEX pools for not just stHYPE but also its counterpart, hHYPE. Combined, both these pools attracted nearly $70 million in TVL and processed more than $500 million in trading volumes, putting the spotlight firmly on Valantis’ ambitions in the sector.

Future Plans for StHYPE

Going forward, Valantis has made it clear that it intends to expand the integrations of stHYPE with both its decentralized exchange and HyperCore. The stated objective behind this move is to establish an expansive liquidity network in the Hyperliquid ecosystem.

Growth of HyperEVM

HyperEVM has traversed an impressive growth trajectory since it was launched in February. The platform now boasts more than $2 billion in TVL across almost 100 protocols. Against this backdrop of growth, Valantis’ acquisition of a key player like stHYPE could be seen as a strategic move aimed at further galvanizing its position in the sector. In conclusion, Valantis’ acquisition of stHYPE marks a significant milestone in the increasingly integrated future of decentralized exchanges and liquid staked tokens. With the amalgamation of their skills and resources, the entities are likely to contribute toward larger liquidity networks and increased value-driven outcomes. Important Disclaimer: The parts of this article have been generated with the help from AI tools and subsequently reviewed by the editorial team to ensure accuracy and adherence to the highest standard of journalistic integrity.