Introducing Hyperliquid stats, by Thunderhead

As Defi evolves, one trend is becoming clear. CEXs (or centralised exchanges) are going the way of the dinosaurs.

DEXs (or decentralised exchanges) are the future, but until recently, they have simply not been able to take the crown from their counterparts. One of the main reasons for this has been the traditionally high fees of interacting on Layer 1s, and even layer 2s, making DEXs too expensive for many high frequency traders.

DEXs have seen many innovations over just the last few years, new platforms each offering unique features and solutions.

Hyperliquid offers a huge innovation compared to now ‘traditional’ DEXs, offering a decentralized perpetual exchange that aims to set new standards in speed, liquidity, and fees.

How is Hyperliquid different?

Hyperliquid keeps the benefits of DEXs that have become obvious in recent years. I.E; One has complete control of one’s own funds, with increased security and privacy. However, Hyperliquid is different in that it also has many of the advanced features one would only expect to see in a CEX.

It offers a suite of powerful features that are designed to meet the needs of advanced, and high frequency, traders. These include:

1. Advanced Order Types: Traders can set Take Profit (TP) and Stop Loss (SL) orders, giving them more control over their trades - in addition, orders can be modified and canceled directly from the TradingView chart, providing a seamless trading experience.
2. Instant Finality: Transactions on Hyperliquid achieve finality in less than one second, meaning that traders no longer have to wait for multiple confirmations. This makes the trading process quicker and more efficient.
3. Low Fees: The platform charges zero gas, offers maker rebates, and has low taker fees. This cost-effective structure can make a significant difference in the profitability of trades, especially for high-frequency traders.
4. 50x Leverage: Traders can utilize up to 50x leverage, allowing for maximization of capital efficiency for those who have the skills to do so.
5. Transparency: All order book activities, trades, funding, and liquidations occur on the Hyperliquid Layer 1, ensuring full on-chain transparency. This provides users with the trust and assurance that all operations are executed as expected without any hidden manipulations. No CEX funny business.
6. Seamless (1-click) Trading: Hyperliquid allows one-click trading without the need for wallet approvals, ensuring a seamless and uninterrupted flow for users.

Hyperliquid also offers what it calls, ‘democratised liquidations’, which means HL allows the community to provide collateral for liquidations in order to share in the pnl.

This is massively innovative, as all liquidations happen on-chain, and can be tracked on the explorer.

Hyperliquid Vaults

Vaults are another cool feature of the HL protocol, baked natively into the Hyperliquid L1.

When users deposit into a vault, they copy all the vaults trades and earn a share of the pnl. Strategies running on vaults benefit from the same advanced features as the DEX.

Just as anyone can deposit into a vault, anyone can create their own vault. Vaults can run automated strategies through both the Hyperliquid SDK and API. Hyperliquid vaults enable sophisticated strategies, all while being fully transparent and on-chain.

How are Thunderhead Helping Advance the Hyperliquid Ecosystem?

Hyperliquid Stats: A Comprehensive Analytics Platform

To help traders, users gain a deeper understanding of the protocol's operations, Thunderhead have worked closely with the team at Hyperliquid to create Hyperliquid Stats.

Hyperliquid stats presents a wealth of data on the Hyperliquid protocol's performance and user activities, allowing all users to make better informed decisions on HL activities.

Some of the key features and metrics provided by Hyperliquid Stats include, but aren't limited to:

1. User Metrics: This shows the total number of users that have interacted with the Hyperliquid protocol over a specified period, including unique user metrics. The largest users by USD volume, largest user deposits by USD value, and the largest liquidated users by USD are all displayed, too. This gives a detailed overview of the major players and high-value activities within the protocol.
2. Volume Metrics: Total volumes, total deposits, total withdrawals, and the total notional liquidated are all provided. This gives a clear and comprehensive picture of the financial flows within the protocol.
3. Trading Metrics: The platform provides data on the number of trades, the top 10 coins grouped by daily trading volume, and the percentage of unique users by coin. (This helps users identify trends and popular assets within the protocol).
4. Profit/Loss Metrics: Traders' net PnL and the protocol's vault PnL are available, providing insights into the profit and loss profiles of the system and its users.
5. Other Metrics: The platform also displays the annualized funding rate, slippage percentage by trade size, open interest, and more. These advanced metrics provide a holistic view of the Hyperliquid market's state, which can be critical for strategic planning and risk management by advanced traders and institutions.

How Hyperliquid Stats Benefits Users

At Thunderhead, we hope Hyperliquid Stats will serve as an essential tool for users of the Hyperliquid protocol in several ways:

Transparency and Trust: By providing daily, on-chain data, Hyperliquid stats should help foster transparency and trust among users.

Informed Decision Making: With the wealth of data available, users can make decisions based on actual on-chain activities.

This can guide users in making better trading decisions, choosing what assets to trade, and understanding the risk/reward profile of choices.

For advanced users and market makers, the in-depth metrics available on Hyperliquid Stats can aid in understanding market liquidity, identifying popular assets, and evaluating market trends.

Performance Tracking: Users can also track their own performance, and compare it with others using the user-centric data provided.

To summarize; we at Thunderhead are thrilled to be chosen by the Hyperliquid team to build detailed analytics with Hyperliquid Stats and help foster the growing community of the Hyperliquid Ecosystem.

As the protocol continues to evolve, so will HL stats, so stay tuned to both @ThunderheadWrld and @HyperliquidX for updates!

⚡ Thunderhead Out ⚡