Valantis Acquires Staked Hype to Enhance Liquid Staking on Hyperliquid
Valantis has acquired Staked Hype (stHYPE), the second-largest liquid staking token on Hyperliquid. Financial details were not disclosed.
Key points include:
- stHYPE holds approximately $180 million in total value locked (TVL).
- Valantis Labs will manage stHYPE’s operations, development, and scaling.
- Addison Spiegel, founder of Thunderhead, will advise Valantis.
- Liquid staking constitutes over half of Hyperliquid L1’s $2.26 billion in DeFi TVL.
- The acquisition follows Valantis’ launch of LST-specific DEX pools for stHYPE and hHYPE, which have nearly $70 million in TVL and processed over $500 million in trading volume.
- Valantis plans to enhance stHYPE’s integrations with its DEX and HyperCore to broaden liquidity networks for Hyperliquid.
- HyperEVM, launched in February, has surpassed $2 billion in TVL across almost 100 protocols.