Valantis has taken over stHYPE, aiming to grow its role in Hyperliquid’s liquid staking space.
- stHYPE now managed by Valantis Labs, adding $180M in TVL
- Liquid staking makes up over half of Hyperliquid’s DeFi activity
- New plans include expanded integration with Valantis DEX
Valantis Moves to Grow Liquid Staking
Valantis, a protocol that runs a decentralized exchange, has bought the liquid staking token stHYPE. It is the second-largest of its kind on the Hyperliquid network. The price of the deal has not been shared with the public.
What Is stHYPE?
stHYPE launched as the first liquid staking token on HyperEVM, a part of the Hyperliquid system. It now holds about $180 million in locked value. That means users have placed that much value into the protocol to earn passive rewards while still being able to use their tokens elsewhere.
Why This Deal Matters
More than half of the $2.26 billion in Hyperliquid’s DeFi total value comes from liquid staking. stHYPE is a key player in this area. The deal helps Valantis take a bigger role in the growing market.
What Happens Next?
Valantis Labs will now lead stHYPE’s future development and scaling. Addison Spiegel, the founder behind stHYPE’s original team, will stay on as an advisor. Valantis already runs trading pools for stHYPE and a related token, hHYPE. These pools have attracted close to $70 million and handled over $500 million in trades.
Valantis plans to link stHYPE more deeply into its DEX and another tool called HyperCore. The goal is to build a stronger and broader liquidity network within the Hyperliquid ecosystem.
Growth of HyperEVM
HyperEVM, which launched in February, powers many of these tools. It has already gathered over $2 billion across nearly 100 DeFi apps. This fast growth suggests strong demand for liquid staking systems like those offered by Valantis and stHYPE.
Source: coindesk.com
