{"id":4910,"date":"2026-10-04T16:40:21","date_gmt":"2026-10-04T08:40:21","guid":{"rendered":"http:\/\/www.lqhyjs.com\/?p=4910"},"modified":"2026-10-04T16:40:21","modified_gmt":"2026-10-04T08:40:21","slug":"hyperliquid-%e6%b7%b1%e5%ba%a6%e7%a0%94%e6%8a%a5-%e6%96%b0%e4%b8%80%e4%bb%a3%e9%93%be%e4%b8%8a%e8%a1%8d%e7%94%9f%e5%93%81%e3%80%8c%e6%b5%81%e5%8a%a8%e6%80%a7%e5%ba%95%e5%ba%a7","status":"publish","type":"post","link":"http:\/\/www.liaoxiaoha.com\/?p=4910","title":{"rendered":"Hyperliquid \u6df1\u5ea6\u7814\u62a5\u2014\u2014\u65b0\u4e00\u4ee3\u94fe\u4e0a\u884d\u751f\u54c1\u300c\u6d41\u52a8\u6027\u5e95\u5ea7\u300d\u7684\u5d1b\u8d77"},"content":{"rendered":"<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u6458\u8981<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u8fc7\u53bb\u4e24\u5e74\uff0c\u53bb\u4e2d\u5fc3\u5316\u884d\u751f\u54c1\u8d5b\u9053\u8fce\u6765\u7206\u53d1\u5f0f\u589e\u957f\u3002\u968f\u8457 CeFi \u7684\u76d1\u7ba1\u4e0e\u4fe1\u4efb\u5371\u673a\u4e0d\u65ad\u663e\u73b0\uff0c\u7528\u6237\u5bf9\u4e8e\u300c\u9ad8\u6027\u80fd\u3001\u900f\u660e\u3001\u53ef\u9a8c\u8bc1\u300d\u7684\u94fe\u4e0a\u884d\u751f\u54c1\u5e73\u53f0\u9700\u6c42\u5feb\u901f\u4e0a\u5347\u3002Hyperliquid \u6b63\u662f\u5728\u8fd9\u4e00\u80cc\u666f\u4e0b\u8131\u9896\u800c\u51fa\uff0c\u4ee5\u81ea\u7814\u9ad8\u6027\u80fd\u94fe + \u5168\u94fe\u4e0a\u8ba2\u5355\u7c3f\u4e3a\u6838\u5fc3\uff0c\u4ee5\u300c\u50cf\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4e00\u6837\u5feb\uff0c\u4f46\u65e0\u9700\u4e2d\u5fc3\u5316\u4fe1\u4efb\u300d\u4e3a\u613f\u666f\uff0c\u9010\u6b65\u6210\u4e3a DeFi \u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u7684\u7edd\u5bf9\u9f99\u5934\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">2025 \u5e74\u4e2d\uff0cHyperliquid \u5df2\u5360\u636e\u53bb\u4e2d\u5fc3\u5316\u884d\u751f\u54c1\u5e02\u573a 70\u201380% \u7684\u5e02\u5360\u7387\uff0c\u65e5\u5747\u4ea4\u6613\u91cf\u9ad8\u8fbe\u6570\u767e\u4ebf\u7f8e\u5143\uff0cTVL \u8d85\u8fc7 20 \u4ebf\u7f8e\u5143\uff0c\u5176\u4ee3\u5e01 HYPE \u5e02\u503c\u4e00\u5ea6\u8dfb\u8eab\u524d\u5341\u3002\u793e\u533a\u751a\u81f3\u5c06\u5176\u79f0\u4e3a\u300c\u94fe\u4e0a\u7248 Binance\u300d\u3002\u7136\u800c\uff0cHyperliquid \u5e76\u975e\u4ec5\u4ec5\u8ffd\u6c42\u4ea4\u6613\u89c4\u6a21\uff0c\u5b83\u7684\u771f\u6b63 ambition \u662f\u6784\u5efa\u4e00\u4e2a \u8de8\u94fe\u6d41\u52a8\u6027\u57fa\u7840\u8bbe\u65bd\uff0c\u8ba9\u7528\u6237\u4ece\u94b1\u5305\u7aef\u5373\u53ef\u4e00\u952e\u5b8c\u6210\u8de8\u94fe\u5165\u91d1\u3001\u6760\u6746\u4ea4\u6613\u3001\u7ed3\u7b97\u51fa\u91d1\u3002\u672c\u7814\u62a5\u5c06\u4ece\u4ee5\u4e0b\u51e0\u4e2a\u7ef4\u5ea6\u5168\u9762\u5206\u6790 Hyperliquid\uff1a\u56e2\u961f\u80cc\u666f\u4e0e\u7ec4\u7ec7\u7ed3\u6784\u3001\u4ea7\u54c1\u7279\u8272\u4e0e\u4ea4\u6613\u5f62\u6001\u3001\u6cbb\u7406\u4e0e\u5236\u5ea6\u8bbe\u8ba1\u3001\u7528\u6237\u4fe1\u4efb\u7684\u57fa\u77f3\u3001\u5e02\u573a\u8868\u73b0\u4e0e\u7ade\u4e89\u683c\u5c40\u3001\u5bf9DEX\u8425\u9500\u7684\u542f\u793a\u4ee5\u53ca\u98ce\u9669\u4e0e\u6311\u6218\u7b49\u8fdb\u884c\u91cd\u70b9\u5206\u6790<\/p>\n<\/section>\n<section>\n<h3 style=\"text-align: left\">\u4e00\u3001\u56e2\u961f\u80cc\u666f\u4e0e\u7ec4\u7ec7\u7ed3\u6784<\/h3>\n<\/section>\n<p><!--$--><\/p>\n<div id=\"div-gpt-ad-cnyes_news_article_middle_1\" data-ad-status=\"loading\" class=\"ayopho3\" style=\"--ayopho3-0:728px;--ayopho3-1:90px;--ayopho3-2:728px;--ayopho3-3:90px;--ayopho3-4:32px;--ayopho3-5:32px;--ayopho3-6:auto;--ayopho3-7:auto;--ayopho3-8:block\"><span aria-live=\"polite\"><span class=\"react-loading-skeleton\" style=\"border-radius:6px;width:100%;height:100%\">\u200c<\/span><br \/><\/span><\/div>\n<p><!--\/$--><\/p>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u5d1b\u8d77\uff0c\u5f88\u5927\u7a0b\u5ea6\u4e0a\u6e90\u81ea\u5176\u72ec\u7279\u7684\u56e2\u961f\u6784\u6210\u4e0e\u7ec4\u7ec7\u6587\u5316\u3002\u4e0e\u8bb8\u591a\u4f9d\u8d56\u5e9e\u5927\u56e2\u961f\u3001\u6d77\u91cf\u878d\u8d44\u7684\u52a0\u5bc6\u9879\u76ee\u4e0d\u540c\uff0cHyperliquid \u81ea\u8bde\u751f\u4e4b\u521d\u5c31\u8d70\u51fa\u4e86\u4e00\u6761\u300c\u7cbe\u5e72\u9ad8\u6548\u3001\u6280\u672f\u9a71\u52a8\u300d\u7684\u8def\u5f84\uff0c\u5176\u6838\u5fc3\u7ade\u4e89\u529b\u5728\u4e8e\u5c0f\u56e2\u961f\u7684\u9ad8\u6267\u884c\u529b\u3001\u5de5\u7a0b\u57fa\u56e0\u548c\u5bf9\u793e\u533a\u6240\u6709\u6743\u7684\u575a\u6301\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align:center\">\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u521b\u59cb\u4eba Jeff Yan \u62e5\u6709\u9c9c\u660e\u7684\u91cf\u5316\u4e0e\u7cfb\u7edf\u5de5\u7a0b\u80cc\u666f\u3002\u4ed6\u6bd5\u4e1a\u4e8e \u54c8\u4f5b\u5927\u5b66\u6570\u5b66\u4e0e\u8ba1\u7b97\u673a\u79d1\u5b66\u4e13\u4e1a\uff0c\u66fe\u5728\u5168\u7403\u9876\u5c16\u9ad8\u9891\u4ea4\u6613\u516c\u53f8 Hudson River Trading (HRT) \u62c5\u4efb\u91cf\u5316\u4ea4\u6613\u5458\u3002HRT \u662f\u534e\u5c14\u8857\u9ad8\u9891\u4ea4\u6613\u7684\u4ee3\u8868\u6027\u673a\u6784\uff0c\u5bf9\u6280\u672f\u5ef6\u8fdf\u548c\u7cfb\u7edf\u6027\u80fd\u6709\u6781\u81f4\u7684\u8981\u6c42\u3002\u5728\u8fd9\u79cd\u73af\u5883\u4e2d\uff0cJeff \u79ef\u7d2f\u4e86\u5bf9 \u8d85\u4f4e\u5ef6\u8fdf\u64ae\u5408\u7cfb\u7edf\u3001\u91cf\u5316\u6a21\u578b\u6784\u5efa\u4e0e\u5e02\u573a\u5fae\u89c2\u7ed3\u6784\u7684\u6df1\u523b\u7406\u89e3\u30022018 \u5e74\uff0c\u4ed6\u5f00\u59cb\u8fdb\u5165\u52a0\u5bc6\u884c\u4e1a\uff0c\u6700\u521d\u63a2\u7d22\u7684\u662f\u5982\u4f55\u5c06\u4f20\u7edf\u9ad8\u9891\u4ea4\u6613\u7ecf\u9a8c\u8fc1\u79fb\u5230\u53bb\u4e2d\u5fc3\u5316\u73af\u5883\u4e2d\u3002\u5230 2022 \u5e74\uff0c\u4ed6\u6b63\u5f0f\u7ec4\u5efa Hyperliquid\uff0c\u5e26\u7740\u660e\u786e\u7684\u4f7f\u547d\uff1a\u6253\u9020\u4e00\u4e2a \u300c\u5c06\u9ad8\u9891\u4ea4\u6613\u4e0e\u94fe\u4e0a\u673a\u5236\u7ed3\u5408\u300d\u7684\u9ad8\u6027\u80fd\u4ea4\u6613\u5e73\u53f0\u3002\u4e0e\u8bb8\u591a\u52a0\u5bc6\u521b\u4e1a\u8005\u4e0d\u540c\uff0cJeff \u5e76\u4e0d\u70ed\u8877 BD \u6216\u8d44\u672c\u8fd0\u4f5c\uff0c\u4ed6\u575a\u4fe1\u53ea\u6709\u628a\u8d44\u6e90\u96c6\u4e2d\u5230\u4ea7\u54c1\u7814\u53d1\u548c\u7cfb\u7edf\u8fed\u4ee3\uff0c\u624d\u80fd\u5728\u7ade\u4e89\u6fc0\u70c8\u7684\u5e02\u573a\u4e2d\u771f\u6b63\u8131\u9896\u800c\u51fa\u3002\u8fd9\u79cd\u4ee5\u6280\u672f\u4e3a\u6838\u5fc3\u7684\u521b\u4e1a\u601d\u8def\uff0c\u5960\u5b9a\u4e86 Hyperliquid \u7684\u53d1\u5c55\u57fa\u8c03\uff0c\u4e5f\u51b3\u5b9a\u4e86\u56e2\u961f\u7684\u6574\u4f53\u57fa\u56e0\u2014\u2014\u91cf\u5316\u601d\u7ef4\u3001\u7cfb\u7edf\u5de5\u7a0b\u5bfc\u5411\u4ee5\u53ca\u5bf9\u6781\u81f4\u6027\u80fd\u7684\u6267\u7740\u8ffd\u6c42\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u56e2\u961f\u89c4\u6a21\u6781\u4e3a\u7cbe\u7b80\u3002\u636e\u516c\u5f00\u62a5\u5bfc\u4e0e\u793e\u533a\u4f30\u7b97\uff0c\u6838\u5fc3\u56e2\u961f\u4ec5\u6709 \u7ea6 11 \u4eba\uff0c\u5374\u652f\u6491\u8d77\u4e86\u4e00\u4e2a\u65e5\u4ea4\u6613\u91cf\u52a8\u8f84 \u767e\u4ebf\u7f8e\u5143\u7ea7\u522b\u7684\u5e73\u53f0\u3002\u4e0e\u4f20\u7edf\u91d1\u878d\u79d1\u6280\u516c\u53f8\u52a8\u8f84\u6570\u767e\u4eba\u7684\u7814\u53d1\u548c\u8425\u8fd0\u56e2\u961f\u76f8\u6bd4\uff0c\u8fd9\u4e00\u89c4\u6a21\u51e0\u4e4e\u4e0d\u53ef\u601d\u8bae\u3002\u8fd9\u79cd\u300c\u5c0f\u56e2\u961f\u5927\u4ea7\u51fa\u300d\u7684\u6a21\u5f0f\u4e5f\u4f53\u73b0\u5728\u8d22\u52a1\u6307\u6807\u4e0a\u3002\u6839\u636e 2025 \u5e74 8 \u6708\u7684\u793e\u533a\u7edf\u8ba1\u4e0e\u7b2c\u4e09\u65b9\u7814\u7a76\uff0cHyperliquid \u7684 \u4eba\u5747\u5e74\u8425\u6536\u8d85\u8fc7 1 \u4ebf\u7f8e\u5143\uff0c\u603b\u8425\u6536\u89c4\u6a21\u8fbe\u5230\u5341\u4ebf\u7f8e\u5143\u91cf\u7ea7\uff0c\u88ab\u79f0\u4e3a\u300c\u5168\u7403\u4eba\u6548\u6700\u9ad8\u7684\u516c\u53f8\u4e4b\u4e00\u300d\u3002\u8fd9\u79cd\u60ca\u4eba\u7684\u4eba\u6548\u4e0d\u4ec5\u5c55\u793a\u4e86\u56e2\u961f\u7684\u6267\u884c\u529b\uff0c\u66f4\u4f53\u73b0\u51fa\u5176\u5e95\u5c42\u7cfb\u7edf\u7684\u9ad8\u5ea6\u81ea\u52a8\u5316\u4e0e\u7a33\u5b9a\u6027\u3002\u8ba2\u5355\u64ae\u5408\u3001\u98ce\u9669\u7ba1\u7406\u3001\u6e05\u7b97\u673a\u5236\u51e0\u4e4e\u5b8c\u5168\u4f9d\u8d56\u7cfb\u7edf\u81ea\u52a8\u8fd0\u884c\uff0c\u56e2\u961f\u6210\u5458\u7684\u4e3b\u8981\u7cbe\u529b\u96c6\u4e2d\u5728\u534f\u8bae\u8fed\u4ee3\u4e0e\u529f\u80fd\u6269\u5c55\uff0c\u800c\u975e\u65e5\u5e38\u7684\u7ef4\u62a4\u4e0e\u4eba\u5de5\u5e72\u9884\u3002\u8fd9\u79cd\u6a21\u5f0f\u964d\u4f4e\u4e86\u8fb9\u9645\u4eba\u529b\u6210\u672c\uff0c\u4f7f\u56e2\u961f\u80fd\u591f\u4ee5\u6700\u5c0f\u89c4\u6a21\u5b9e\u73b0\u6700\u5927\u5316\u7684\u5e02\u573a\u8986\u76d6\u3002\u66f4\u91cd\u8981\u7684\u662f\uff0c\u8fd9\u79cd\u9ad8\u4eba\u6548\u5e76\u975e\u4ee5\u727a\u7272\u5b89\u5168\u6027\u4e3a\u4ee3\u4ef7\u3002Hyperliquid \u7684\u64ae\u5408\u5f15\u64ce\u4e0e\u94fe\u4e0a\u673a\u5236\u5728\u591a\u4e2a\u6781\u7aef\u884c\u60c5\u4e2d\u90fd\u7ecf\u53d7\u4f4f\u4e86\u8003\u9a8c\uff0c\u7cfb\u7edf\u8fd0\u884c\u7a33\u5b9a\uff0c\u7528\u6237\u8d44\u4ea7\u5b89\u5168\u65e0\u91cd\u5927\u4e8b\u6545\u3002\u8fd9\u8ba9\u5e02\u573a\u66f4\u52a0\u786e\u4fe1\uff0c\u5373\u4fbf\u662f\u5c0f\u56e2\u961f\uff0c\u4e5f\u80fd\u901a\u8fc7\u5353\u8d8a\u7684\u5de5\u7a0b\u80fd\u529b\u548c\u673a\u5236\u8bbe\u8ba1\uff0c\u5b8c\u6210\u4e0e\u4f20\u7edf\u5de8\u5934\u76f8\u5ab2\u7f8e\u7684\u4ea4\u6613\u57fa\u7840\u8bbe\u65bd\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u9664\u4e86\u521b\u59cb\u4eba\u80cc\u666f\u4e0e\u56e2\u961f\u89c4\u6a21\uff0cHyperliquid \u7684\u7ec4\u7ec7\u6587\u5316\u540c\u6837\u662f\u5176\u72ec\u7279\u4f18\u52bf\u4e4b\u4e00\u3002\u9996\u5148\uff0c\u56e2\u961f\u5728\u62db\u8058\u4e0a\u5949\u884c\u300c\u5b81\u7f3a\u6bcb\u6ee5\u300d\u7684\u539f\u5219\u3002\u6210\u5458\u591a\u6765\u81ea MIT\u3001Caltech\u3001Citadel \u7b49\u9876\u5c16\u5b66\u672f\u4e0e\u91d1\u878d\u673a\u6784\uff0c\u5177\u5907\u6781\u9ad8\u7684\u4e13\u4e1a\u80cc\u666f\u3002\u76f8\u6bd4\u5feb\u901f\u6269\u5f20\u7684\u4eba\u529b\u5806\u53e0\uff0cHyperliquid \u66f4\u503e\u5411\u4e8e\u901a\u8fc7\u6838\u5fc3\u6210\u5458\u7684\u6df1\u5ea6\u6295\u5165\u6765\u4fdd\u6301\u9ad8\u6548\u6267\u884c\u3002\u5176\u6b21\uff0c\u56e2\u961f\u5728\u8d44\u672c\u9009\u62e9\u4e0a\u5c55\u73b0\u4e86\u5f3a\u70c8\u7684\u4ef7\u503c\u89c2\u3002\u4ed6\u4eec\u660e\u786e\u62d2\u7edd\u5916\u90e8 VC \u6295\u8d44\uff0c\u575a\u6301\u300c\u4e0d\u62ff VC\u300d\u3002\u5728\u52a0\u5bc6\u884c\u4e1a\uff0c\u8fd9\u4e00\u9009\u62e9\u6781\u5177\u6807\u5fd7\u6027\u3002\u8bb8\u591a\u9879\u76ee\u65e9\u671f\u901a\u8fc7\u5927\u89c4\u6a21\u878d\u8d44\u6765\u83b7\u53d6\u8d44\u6e90\uff0c\u4f46\u5f80\u5f80\u5bfc\u81f4\u6cbb\u7406\u6743\u4e0e\u4ef7\u503c\u6355\u83b7\u6743\u504f\u5411\u8d44\u672c\u65b9\u3002Hyperliquid \u5219\u901a\u8fc7\u81ea\u7b79\u8d44\u91d1\u4e0e\u534f\u8bae\u5185\u751f\u589e\u957f\u6765\u63a8\u52a8\u53d1\u5c55\uff0c\u786e\u4fdd\u4ef7\u503c\u6355\u83b7\u5f52\u5c5e\u4e8e\u793e\u533a\u800c\u975e\u8d44\u672c\u3002\u8fd9\u4e0d\u4ec5\u589e\u5f3a\u4e86\u7528\u6237\u5bf9\u5e73\u53f0\u7684\u5f52\u5c5e\u611f\uff0c\u4e5f\u5728\u53d9\u4e8b\u5c42\u9762\u6811\u7acb\u4e86\u5dee\u5f02\u5316\u5b9a\u4f4d\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5728\u6cbb\u7406\u8def\u5f84\u4e0a\uff0cHyperliquid \u4e5f\u5ef6\u7eed\u4e86\u8fd9\u4e00\u903b\u8f91\u3002\u5e73\u53f0\u7684\u624b\u7eed\u8d39\u4e0e\u6536\u5165\u56de\u9988\u7ed9 HLP \u534f\u8bae\u91d1\u5e93\u548c\u751f\u6001\u57fa\u91d1\uff0c\u56e2\u961f\u4e0d\u8bbe\u5229\u6da6\u62bd\u53d6\u3002\u8fd9\u4e00\u5b89\u6392\u8ba9\u7528\u6237\u611f\u53d7\u5230\u5e73\u53f0\u8fd0\u884c\u7684\u900f\u660e\u4e0e\u516c\u5e73\uff0c\u964d\u4f4e\u4e86\u5bf9\u300c\u4e2d\u5fc3\u5316\u5957\u5229\u300d\u7684\u62c5\u5fe7\u3002\u968f\u8457\u793e\u533a\u5728\u6cbb\u7406\u4e0e\u751f\u6001\u5efa\u8bbe\u4e2d\u8bdd\u8bed\u6743\u7684\u589e\u5f3a\uff0cHyperliquid \u9010\u6e10\u5f62\u6210\u4e86\u300c\u7528\u6237\u5373\u6240\u6709\u8005\u300d\u7684\u6587\u5316\u6c1b\u56f4\u3002\u8fd9\u79cd\u6587\u5316\u6210\u4e3a\u5176\u5feb\u901f\u8d62\u5f97\u7528\u6237\u4fe1\u4efb\u7684\u91cd\u8981\u539f\u56e0\uff0c\u4e5f\u6784\u5efa\u4e86\u5e73\u53f0\u957f\u671f\u53d1\u5c55\u7684\u793e\u533a\u62a4\u57ce\u6cb3\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u7efc\u4e0a\u6240\u8ff0\uff0cHyperliquid \u7684\u56e2\u961f\u4e0e\u7ec4\u7ec7\u7ed3\u6784\u5c55\u73b0\u51fa\u9c9c\u660e\u7684\u300c\u4e09\u4e2a\u7279\u5f81\u300d\uff1a\u521b\u59cb\u4eba\u80cc\u666f\u51b3\u5b9a\u57fa\u56e0\uff1a\u91cf\u5316\u4e0e\u9ad8\u9891\u4ea4\u6613\u7684\u79ef\u7d2f\uff0c\u8ba9\u5e73\u53f0\u81ea\u5e26\u5de5\u7a0b\u4e0e\u6027\u80fd\u4f18\u52bf\uff1b \u5c0f\u56e2\u961f\u5b9e\u73b0\u9ad8\u4eba\u6548\uff1a\u4ec5\u5341\u4f59\u4eba\u7684\u89c4\u6a21\u5374\u652f\u6491\u767e\u4ebf\u7f8e\u5143\u4ea4\u6613\u91cf\uff0c\u5f62\u6210\u6781\u9ad8\u7684\u8d44\u672c\u4e0e\u4eba\u529b\u6548\u7387\uff1b \u7ec4\u7ec7\u6587\u5316\u5f3a\u8c03\u793e\u533a\u6240\u6709\u6743\uff1a\u62d2\u7edd VC\u3001\u5f3a\u8c03\u900f\u660e\u5206\u914d\uff0c\u4f7f\u7528\u6237\u4fe1\u4efb\u5ea6\u4e0e\u53c2\u4e0e\u5ea6\u6301\u7eed\u589e\u5f3a\u3002 \u8fd9\u79cd\u7ec4\u7ec7\u6a21\u5f0f\u6253\u7834\u4e86\u300c\u89c4\u6a21\u624d\u80fd\u9020\u5c31\u6210\u529f\u300d\u7684\u4f20\u7edf\u8ba4\u77e5\uff0c\u8bc1\u660e\u5728 DeFi \u8d5b\u9053\uff0c\u5c0f\u800c\u7cbe\u3001\u4ee5\u7528\u6237\u4e3a\u6838\u5fc3\u7684\u56e2\u961f\u540c\u6837\u80fd\u591f\u6210\u957f\u4e3a\u884c\u4e1a\u9738\u4e3b\u3002Hyperliquid \u7684\u56e2\u961f\u6545\u4e8b\u4e0d\u4ec5\u662f\u5176\u6210\u529f\u7684\u91cd\u8981\u6ce8\u811a\uff0c\u4e5f\u4e3a\u540e\u6765\u8005\u63d0\u4f9b\u4e86\u4e00\u4e2a\u503c\u5f97\u6df1\u601d\u7684\u8303\u5f0f\uff1a\u5728\u5f00\u653e\u91d1\u878d\u7684\u4e16\u754c\u91cc\uff0c\u6700\u7a00\u7f3a\u7684\u4e0d\u662f\u8d44\u672c\u4e0e\u4eba\u529b\uff0c\u800c\u662f\u6781\u81f4\u7684\u5de5\u7a0b\u80fd\u529b\u3001\u6e05\u6670\u7684\u4ef7\u503c\u89c2\u4e0e\u957f\u671f\u4e00\u81f4\u7684\u5236\u5ea6\u8bbe\u8ba1\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u4e8c\u3001\u4ea7\u54c1\u7279\u8272\u4e0e\u4ea4\u6613\u5f62\u6001<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u4e4b\u6240\u4ee5\u80fd\u591f\u5728\u77ed\u65f6\u95f4\u5185\u8fc5\u901f\u5d1b\u8d77\uff0c\u9664\u4e86\u56e2\u961f\u7684\u5de5\u7a0b\u80fd\u529b\u4e0e\u7ec4\u7ec7\u6587\u5316\u5916\uff0c\u5176\u4ea7\u54c1\u67b6\u6784\u4e0e\u4ea4\u6613\u5f62\u6001\u66f4\u662f\u6784\u5efa\u5e02\u573a\u58c1\u5792\u7684\u5173\u952e\u3002\u5728 DeFi \u884d\u751f\u54c1\u8d5b\u9053\u4e2d\uff0c\u7edd\u5927\u591a\u6570\u534f\u8bae\u90fd\u9762\u4e34\u7740\u300c\u6027\u80fd\u4e0d\u8db3\u4e0e\u5b89\u5168\u4fe1\u4efb\u300d\u7684\u4e24\u96be\u9009\u62e9\uff0c\u800c Hyperliquid \u901a\u8fc7\u81ea\u4e3b\u7814\u53d1\u7684\u53cc\u5f15\u64ce\u67b6\u6784\u3001\u5168\u94fe\u4e0a\u8ba2\u5355\u7c3f\u3001\u521b\u65b0\u7684 HLP \u534f\u8bae\u91d1\u5e93\u4ee5\u53ca\u4e25\u683c\u7684\u6760\u6746\u98ce\u63a7\u4f53\u7cfb\uff0c\u6210\u529f\u6253\u901a\u4e86\u6027\u80fd\u4e0e\u53bb\u4e2d\u5fc3\u5316\u4e4b\u95f4\u7684\u5e73\u8861\u70b9\u3002\u8fd9\u4f7f\u5f97\u5e73\u53f0\u65e2\u80fd\u63d0\u4f9b\u63a5\u8fd1\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff08CEX\uff09\u7684\u4ea4\u6613\u4f53\u9a8c\uff0c\u53c8\u80fd\u5728\u5236\u5ea6\u4e0a\u4fdd\u6301 DeFi \u7684\u900f\u660e\u6027\u4e0e\u5f00\u653e\u6027\uff0c\u6210\u4e3a\u76ee\u524d\u552f\u4e00\u771f\u6b63\u610f\u4e49\u4e0a\u5c06 CEX \u901f\u5ea6\u4e0e DeFi \u5b89\u5168\u7ed3\u5408\u7684\u5e73\u53f0\u4e4b\u4e00\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u5e95\u5c42\u6280\u672f\u67b6\u6784\u7531 HyperCore \u4e0e HyperEVM \u53cc\u5f15\u64ce\u6784\u6210\uff0c\u5206\u522b\u5bf9\u5e94\u6027\u80fd\u4e0e\u5f00\u653e\u6027\u3002HyperCore \u662f\u5e73\u53f0\u7684\u6838\u5fc3\u64ae\u5408\u4e0e\u4ea4\u6613\u7cfb\u7edf\uff0c\u8d1f\u8d23\u73b0\u8d27\u4e0e\u6c38\u7eed\u5408\u7ea6\u7684\u64ae\u5408\u6267\u884c\u3002\u5176\u6027\u80fd\u6307\u6807\u63a5\u8fd1\u4f20\u7edf\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff0c\u64ae\u5408\u5ef6\u8fdf\u4e2d\u4f4d\u6570\u7ea6\u4e3a 200 \u6beb\u79d2\uff0c\u541e\u5410\u91cf\u53ef\u8fbe\u6570\u5341\u4e07 TPS\u3002\u8fd9\u610f\u5473\u8457\u9ad8\u9891\u4ea4\u6613\u8005\u4e0e\u673a\u6784\u6295\u8d44\u8005\u53ef\u4ee5\u5728\u94fe\u4e0a\u6267\u884c\u590d\u6742\u7b56\u7565\uff0c\u800c\u4e0d\u4f1a\u56e0\u5ef6\u8fdf\u4e0e\u6ed1\u70b9\u800c\u5931\u53bb\u7ade\u4e89\u4f18\u52bf\u3002HyperEVM \u5219\u662f\u4e00\u4e2a\u517c\u5bb9\u4ee5\u592a\u574a\u865a\u62df\u673a\u7684\u73af\u5883\uff0c\u627f\u8f7d\u94fe\u4e0a\u7684\u5408\u7ea6\u4e0e\u751f\u6001\u6269\u5c55\u529f\u80fd\u3002\u5b83\u4fdd\u8bc1\u4e86 Hyperliquid \u5728\u4fdd\u6301\u9ad8\u6027\u80fd\u7684\u540c\u65f6\uff0c\u4f9d\u7136\u80fd\u591f\u4e0e\u4ee5\u592a\u574a\u751f\u6001\u53ca\u66f4\u5e7f\u6cdb\u7684 DeFi \u534f\u8bae\u5b9e\u73b0\u53ef\u7ec4\u5408\u6027\u3002\u901a\u8fc7 HyperEVM\uff0cHyperliquid \u53ef\u4ee5\u5feb\u901f\u6269\u5c55\u5230\u501f\u8d37\u3001\u6d41\u52a8\u6027\u8d28\u62bc\u3001\u8d44\u4ea7\u53d1\u884c\u7b49\u66f4\u591a\u91d1\u878d\u5e94\u7528\uff0c\u5f62\u6210\u4e00\u6761\u5b8c\u6574\u7684\u94fe\u4e0a\u91d1\u878d\u95ed\u73af\u3002 \u8fd9\u79cd\u300c\u53cc\u5f15\u64ce\u300d\u6a21\u5f0f\u5728\u8bbe\u8ba1\u4e0a\u517c\u987e\u4e86\u6027\u80fd\u4e0e\u53ef\u9a8c\u8bc1\u6027\uff1aHyperCore \u4e13\u6ce8\u4e8e\u6781\u81f4\u7684\u901f\u5ea6\u4e0e\u7a33\u5b9a\u6027\uff0c\u800c HyperEVM \u5219\u786e\u4fdd\u7cfb\u7edf\u7684\u5f00\u653e\u6027\u4e0e\u751f\u6001\u7684\u591a\u6837\u6027\u3002\u6b63\u662f\u8fd9\u79cd\u67b6\u6784\u521b\u65b0\uff0c\u8ba9 Hyperliquid \u80fd\u591f\u7387\u5148\u5b9e\u73b0\u300cCEX \u4f53\u9a8c + DeFi \u5b89\u5168\u300d\u7684\u76ee\u6807\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5728\u4ea4\u6613\u6a21\u5f0f\u4e0a\uff0cHyperliquid \u9009\u62e9\u4e86\u4e0e\u4e3b\u6d41 AMM \u6a21\u578b\u622a\u7136\u4e0d\u540c\u7684\u8def\u5f84\u2014\u2014\u5168\u94fe\u4e0a\u8ba2\u5355\u7c3f\uff08CLOB\uff09\u3002\u4f20\u7edf\u7684\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u5927\u591a\u4f9d\u8d56 AMM\uff08\u81ea\u52a8\u505a\u5e02\u5546\uff09\uff0c\u867d\u7136\u5b9e\u73b0\u4e86\u65e0\u9700\u8bb8\u53ef\u7684\u6d41\u52a8\u6027\uff0c\u4f46\u5728\u6df1\u5ea6\u3001\u6ed1\u70b9\u548c\u9ad8\u9891\u7b56\u7565\u65b9\u9762\u5b58\u5728\u5929\u7136\u9650\u5236\u3002Hyperliquid \u5219\u5c06\u8ba2\u5355\u7c3f\u4e0e\u64ae\u5408\u903b\u8f91\u5b8c\u5168\u642c\u4e0a\u94fe\uff0c\u7528\u6237\u7684\u4e0b\u5355\u3001\u64a4\u5355\u3001\u64ae\u5408\u548c\u6e05\u7b97\u5168\u7a0b\u53ef\u9a8c\u8bc1\u3002\u8fd9\u79cd\u8bbe\u8ba1\u5e26\u6765\u4e24\u65b9\u9762\u4f18\u52bf\uff1a \u4e00\u65b9\u9762\uff0c\u5b83\u663e\u8457\u589e\u5f3a\u4e86\u516c\u5e73\u6027\u4e0e\u900f\u660e\u5ea6\u3002\u6240\u6709\u8ba2\u5355\u4e0e\u64ae\u5408\u7ed3\u679c\u90fd\u8bb0\u5f55\u5728\u94fe\u4e0a\uff0c\u907f\u514d\u4e86\u6697\u7bb1\u64cd\u4f5c\u6216\u505a\u5e02\u5546\u64cd\u63a7\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u5b83\u4e3a\u673a\u6784\u7528\u6237\u4e0e\u9ad8\u9891\u4ea4\u6613\u8005\u6253\u5f00\u4e86\u5927\u95e8\u3002\u8fd9\u7c7b\u7528\u6237\u719f\u6089\u57fa\u4e8e\u8ba2\u5355\u7c3f\u7684\u4ea4\u6613\u6a21\u5f0f\uff0c\u5e76\u4f9d\u8d56\u590d\u6742\u7684\u6302\u5355\u4e0e\u64a4\u5355\u7b56\u7565\u6765\u7ba1\u7406\u98ce\u9669\u548c\u5957\u5229\u3002Hyperliquid \u63d0\u4f9b\u7684\u94fe\u4e0a\u8ba2\u5355\u7c3f\u73af\u5883\uff0c\u6ee1\u8db3\u4e86\u4ed6\u4eec\u5bf9\u6df1\u5ea6\u3001\u901f\u5ea6\u4e0e\u53ef\u7f16\u7a0b\u6027\u7684\u53cc\u91cd\u9700\u6c42\uff0c\u4f7f\u5176\u80fd\u591f\u50cf\u5728 CEX \u4e00\u6837\u6267\u884c\u590d\u6742\u7b56\u7565\uff0c\u5374\u65e0\u9700\u627f\u62c5\u6258\u7ba1\u98ce\u9669\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5728 DeFi \u884d\u751f\u54c1\u4ea4\u6613\u4e2d\uff0c\u5982\u4f55\u63d0\u4f9b\u7a33\u5b9a\u7684\u6d41\u52a8\u6027\u4e0e\u6e05\u7b97\u80fd\u529b\u4e00\u76f4\u662f\u96be\u9898\u3002Hyperliquid \u901a\u8fc7 HLP\uff08\u91d1\u5e93\uff09 \u673a\u5236\u521b\u65b0\u6027\u5730\u89e3\u51b3\u4e86\u8fd9\u4e00\u75db\u70b9\u3002HLP \u626e\u6f14\u7740\u4e09\u91cd\u89d2\u8272\uff1a\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\uff1aHLP \u627f\u62c5\u5e73\u53f0\u7684\u4e3b\u8981\u505a\u5e02\u804c\u80fd\uff0c\u786e\u4fdd\u4e70\u5356\u53cc\u65b9\u7684\u6df1\u5ea6\u7a33\u5b9a\u3002\u98ce\u9669\u7f13\u51b2\u5668\uff1a\u5728\u7528\u6237\u4e8f\u635f\u6216\u5e02\u573a\u5267\u70c8\u6ce2\u52a8\u65f6\uff0cHLP \u4f5c\u4e3a\u7cfb\u7edf\u6027\u98ce\u9669\u5bf9\u51b2\u6c60\uff0c\u5438\u6536\u6e05\u7b97\u635f\u5931\uff0c\u4ece\u800c\u907f\u514d\u4f7f\u7528\u4f20\u7edf\u4ea4\u6613\u6240\u5e38\u89c1\u7684 ADL\uff08\u81ea\u52a8\u51cf\u4ed3\uff09\u3002\u8fd9\u6837\u4e00\u6765\uff0c\u76c8\u5229\u7528\u6237\u4e0d\u4f1a\u56e0\u4e3a\u7cfb\u7edf\u98ce\u9669\u800c\u88ab\u5f3a\u5236\u5e73\u4ed3\u3002 \u6536\u76ca\u5206\u4eab\u673a\u5236\uff1a\u6240\u6709\u5411 HLP \u5b58\u5165\u8d44\u91d1\u7684\u7528\u6237\uff0c\u90fd\u53ef\u4ee5\u5206\u4eab\u5e73\u53f0\u7684\u624b\u7eed\u8d39\u6536\u5165\u4e0e\u8d44\u91d1\u8d39\u7387\u6536\u76ca\u3002&nbsp;<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u8fd9\u4e00\u8bbe\u8ba1\u7684\u6700\u5927\u610f\u4e49\u5728\u4e8e\u6c11\u4e3b\u5316\u3002\u5728 CEX \u4e2d\uff0c\u505a\u5e02\u4e0e\u6e05\u7b97\u901a\u5e38\u7531\u5c11\u6570\u7279\u6743\u505a\u5e02\u5546\u638c\u63a7\uff0c\u666e\u901a\u7528\u6237\u65e0\u6cd5\u76f4\u63a5\u53c2\u4e0e\u3002\u800c\u5728 Hyperliquid\uff0c\u6bcf\u4e00\u4f4d\u5b58\u6b3e\u4eba\u90fd\u53ef\u4ee5\u6210\u4e3a\u505a\u5e02\u5546\u7684\u4e00\u90e8\u5206\uff0c\u5171\u4eab\u5e02\u573a\u589e\u957f\u7684\u7ea2\u5229\u3002\u957f\u671f\u6765\u770b\uff0c\u8fd9\u4e0d\u4ec5\u589e\u5f3a\u4e86\u7528\u6237\u7684\u9ecf\u6027\uff0c\u8fd8\u4f7f\u5e73\u53f0\u7684\u98ce\u9669\u7ba1\u7406\u66f4\u5177\u97e7\u6027\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u6760\u6746\u4e0e\u98ce\u9669\u63a7\u5236\u662f\u884d\u751f\u54c1\u5e02\u573a\u7684\u6838\u5fc3\u3002Hyperliquid \u5728\u63d0\u4f9b\u9ad8\u6760\u6746\u7684\u540c\u65f6\uff0c\u5efa\u7acb\u4e86\u4e00\u5957\u52a8\u6001\u7684\u98ce\u63a7\u673a\u5236\u3002\u5e73\u53f0\u6700\u9ad8\u652f\u6301 40\u201350 \u500d\u6760\u6746\uff0c\u6ee1\u8db3\u4e13\u4e1a\u4ea4\u6613\u8005\u7684\u9700\u6c42\u3002\u4f46\u5728\u5c0f\u5e02\u503c\u5e01\u79cd\u6216\u5927\u989d\u4ed3\u4f4d\u4e2d\uff0c\u7cfb\u7edf\u4f1a\u4e3b\u52a8\u964d\u4f4e\u6760\u6746\u4e0a\u9650\uff0c\u907f\u514d\u56e0\u4e2a\u522b\u6781\u7aef\u4ed3\u4f4d\u5bfc\u81f4\u7cfb\u7edf\u6027\u98ce\u9669\u3002\u8d44\u91d1\u8d39\u7387\u7684\u8ba1\u7b97\u4e5f\u4f53\u73b0\u51fa\u5e73\u53f0\u7684\u7a33\u5065\u6027\u3002\u4e0e\u90e8\u5206\u5e73\u53f0\u6839\u636e\u5185\u90e8\u4ef7\u683c\u6216\u8d44\u91d1\u6c60\u72b6\u51b5\u8ba1\u7b97\u4e0d\u540c\uff0cHyperliquid \u7684\u8d44\u91d1\u8d39\u7387\u57fa\u4e8e\u5916\u90e8\u9884\u8a00\u673a\u4ef7\u683c\uff0c\u786e\u4fdd\u4ef7\u683c\u951a\u5b9a\u4e8e\u771f\u5b9e\u5e02\u573a\uff0c\u907f\u514d\u5185\u90e8\u64cd\u63a7\u3002\u8d39\u7387\u7684\u9891\u7e41\u7ed3\u7b97\u673a\u5236\uff08\u901a\u5e38\u6bcf 8 \u5c0f\u65f6\u4e00\u6b21\uff09\u8fdb\u4e00\u6b65\u4fdd\u8bc1\u4e86\u5e02\u573a\u7684\u52a8\u6001\u5e73\u8861\u3002\u901a\u8fc7\u8fd9\u4e00\u7cfb\u5217\u673a\u5236\uff0cHyperliquid \u5728\u4fdd\u6301\u9ad8\u6760\u6746\u4ea4\u6613\u5438\u5f15\u529b\u7684\u540c\u65f6\uff0c\u786e\u4fdd\u7cfb\u7edf\u98ce\u9669\u53ef\u63a7\uff0c\u7528\u6237\u4f53\u9a8c\u53ef\u9884\u6d4b\u3002\u8fd9\u4f7f\u5f97\u5176\u5728\u9cb8\u9c7c\u4e0e\u96f6\u552e\u4e4b\u95f4\u5efa\u7acb\u8d77\u76f8\u5bf9\u7a33\u56fa\u7684\u4fe1\u4efb\u6865\u6881\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u603b\u4f53\u800c\u8a00\uff0cHyperliquid \u7684\u4ea7\u54c1\u4e0e\u4ea4\u6613\u5f62\u6001\u5c55\u73b0\u4e86\u9ad8\u5ea6\u7684\u7cfb\u7edf\u5de5\u7a0b\u601d\u7ef4\uff1a\u901a\u8fc7 HyperCore + HyperEVM \u53cc\u5f15\u64ce\uff0c\u5b9e\u73b0\u4e86\u6027\u80fd\u4e0e\u5f00\u653e\u6027\u7684\u517c\u987e\uff1b \u901a\u8fc7 \u5168\u94fe\u4e0a\u8ba2\u5355\u7c3f\uff0c\u63d0\u4f9b\u4e86\u673a\u6784\u7ea7\u7684\u516c\u5e73\u4e0e\u6df1\u5ea6\uff1b \u901a\u8fc7 HLP \u534f\u8bae\u91d1\u5e93\uff0c\u6c11\u4e3b\u5316\u4e86\u505a\u5e02\u4e0e\u6e05\u7b97\u804c\u80fd\uff1b \u901a\u8fc7 \u6760\u6746\u4e0e\u98ce\u63a7\u4f53\u7cfb\uff0c\u5728\u5438\u5f15\u9ad8\u9891\u4e0e\u4e13\u4e1a\u7528\u6237\u7684\u540c\u65f6\uff0c\u7ef4\u6301\u4e86\u5e73\u53f0\u5b89\u5168\u4e0e\u7a33\u5b9a\u3002 \u8fd9\u5957\u5b8c\u6574\u7684\u4ea7\u54c1\u4f53\u7cfb\u4e0d\u4ec5\u89e3\u51b3\u4e86\u53bb\u4e2d\u5fc3\u5316\u884d\u751f\u54c1\u957f\u671f\u5b58\u5728\u7684\u75db\u70b9\uff0c\u66f4\u5851\u9020\u4e86 Hyperliquid \u72ec\u7279\u7684\u7ade\u4e89\u4f18\u52bf\u3002\u5b83\u8ba9\u7528\u6237\u5728\u4f53\u9a8c\u4e0a\u51e0\u4e4e\u65e0\u7f1d\u5207\u6362\u4e8e CEX \u4e0e DeFi \u4e4b\u95f4\uff0c\u540c\u65f6\u53c8\u901a\u8fc7\u900f\u660e\u7684\u5236\u5ea6\u548c\u6536\u76ca\u5206\u914d\u673a\u5236\uff0c\u5efa\u7acb\u8d77\u957f\u671f\u7684\u4fe1\u4efb\u4e0e\u7c98\u6027\u3002\u6b63\u56e0\u5982\u6b64\uff0cHyperliquid \u5f97\u4ee5\u5728\u7ade\u4e89\u6fc0\u70c8\u7684\u8d5b\u9053\u4e2d\u5feb\u901f\u8131\u9896\u800c\u51fa\uff0c\u6210\u4e3a\u5f53\u4e0b\u6700\u5177\u4ee3\u8868\u6027\u7684\u300c\u6d41\u52a8\u6027\u5e95\u5ea7\u300d\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u4e09\u3001\u6cbb\u7406\u4e0e\u5236\u5ea6\u8bbe\u8ba1\uff1a\u7528\u6237\u4fe1\u4efb\u7684\u57fa\u77f3<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u53e6\u4e00\u4e2a\u6838\u5fc3\u7ade\u4e89\u529b\uff0c\u5728\u4e8e\u5b83\u901a\u8fc7\u6cbb\u7406\u4e0e\u5236\u5ea6\u521b\u65b0\uff0c\u5b9e\u73b0\u4e86\u5f00\u653e\u6027\u3001\u6269\u5c55\u6027\u4e0e\u5feb\u901f\u8fed\u4ee3\u3002\u9879\u76ee\u81ea\u6210\u7acb\u4ee5\u6765\uff0c\u5c31\u91c7\u7528\u7c7b\u4f3c\u4ee5\u592a\u574a EIP \u7684\u673a\u5236\uff0c\u5373 Hyper Improvement Proposal\uff08HIP\uff09\uff0c\u4f5c\u4e3a\u793e\u533a\u5171\u8bc6\u4e0e\u4ea7\u54c1\u8fed\u4ee3\u7684\u57fa\u7840\u6846\u67b6\u3002\u901a\u8fc7 HIP\uff0cHyperliquid \u4e0d\u4ec5\u89e3\u51b3\u4e86\u6d41\u52a8\u6027\u51b7\u542f\u52a8\u4e0e\u8d44\u4ea7\u4e0a\u67b6\u95ee\u9898\uff0c\u8fd8\u4e3a\u884d\u751f\u54c1\u5e02\u573a\u7684\u6269\u5c55\u63d0\u4f9b\u4e86\u5236\u5ea6\u5316\u7684\u8def\u5f84\uff0c\u6781\u5927\u589e\u5f3a\u4e86\u5e73\u53f0\u7684\u751f\u6001\u591a\u6837\u6027\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">HIP-1 \u7684\u63a8\u51fa\uff0c\u6807\u5fd7\u7740 Hyperliquid \u8fc8\u51fa\u4e86\u6cbb\u7406\u4e0e\u5236\u5ea6\u8bbe\u8ba1\u7684\u91cd\u8981\u7b2c\u4e00\u6b65\u3002\u901a\u8fc7\u8be5\u673a\u5236\uff0c\u4efb\u4f55\u9879\u76ee\u65b9\u53ea\u9700\u652f\u4ed8\u4e00\u5b9a\u6570\u91cf\u7684 HYPE \u4ee3\u5e01\u8d39\u7528\uff0c\u4fbf\u53ef\u5728\u5e73\u53f0\u4e0a\u521b\u5efa\u81ea\u5df1\u7684\u4ee3\u5e01\uff0c\u5e76\u5feb\u901f\u542f\u52a8\u73b0\u8d27\u5e02\u573a\u3002\u8fd9\u4e00\u673a\u5236\u6253\u7834\u4e86 CEX \u4e2d\u300c\u4e0a\u5e01\u6743\u7531\u4ea4\u6613\u6240\u5784\u65ad\u300d\u7684\u5c40\u9762\uff0c\u4e5f\u907f\u514d\u4e86\u4f20\u7edf DEX \u4e2d\u4f9d\u8d56\u5916\u90e8\u6d41\u52a8\u6027\u5f15\u5bfc\u7684\u74f6\u9888\u3002\u6362\u53e5\u8bdd\u8bf4\uff0cHIP-1 \u5c06\u300c\u4e0a\u5e01\u300d\u8fd9\u4e00\u884c\u4e3a\u6807\u51c6\u5316\u4e0e\u89c4\u5219\u5316\uff0c\u4f7f\u5f97\u9879\u76ee\u65b9\u80fd\u591f\u5728\u5b8c\u5168\u65e0\u9700\u8bb8\u53ef\u7684\u73af\u5883\u4e2d\u8fdb\u5165\u5e02\u573a\uff0c\u540c\u65f6\u5927\u5e45\u964d\u4f4e\u4e86\u51b7\u542f\u52a8\u6210\u672c\u3002\u5982\u679c\u8bf4 HIP-1 \u89e3\u51b3\u4e86\u300c\u5982\u4f55\u4e0a\u5e01\u300d\u7684\u95ee\u9898\uff0c\u90a3\u4e48 HIP-2 \u5219\u8fdb\u4e00\u6b65\u89e3\u51b3\u4e86\u300c\u5982\u4f55\u5728\u521d\u671f\u7ef4\u6301\u5e02\u573a\u6df1\u5ea6\u300d\u7684\u96be\u9898\u3002\u5728\u4f20\u7edf\u5e02\u573a\u4e2d\uff0c\u65b0\u8d44\u4ea7\u4e0a\u5e02\u65f6\u5f80\u5f80\u7f3a\u4e4f\u4e70\u5356\u53cc\u65b9\u7684\u4e3b\u52a8\u6d41\u52a8\u6027\uff0c\u5bfc\u81f4\u6ed1\u70b9\u9ad8\u3001\u4ea4\u6613\u4e0d\u7a33\u5b9a\u3002Hyperliquid \u901a\u8fc7 HIP-2 \u5f15\u5165\u4e86 \u81ea\u52a8\u5316\u505a\u5e02\u670d\u52a1\uff08Hyperliquidity\uff09\uff0c\u4e3a\u65b0\u9879\u76ee\u63d0\u4f9b\u57fa\u7840\u7684\u4e70\u5356\u6df1\u5ea6\u3002\u8fd9\u4e0d\u4ec5\u63d0\u5347\u4e86\u7528\u6237\u4f53\u9a8c\uff0c\u4e5f\u5e2e\u52a9\u65b0\u8d44\u4ea7\u66f4\u5feb\u83b7\u5f97\u5e02\u573a\u8ba4\u53ef\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u8fd9\u79cd\u81ea\u52a8\u5316\u5e76\u4e0d\u662f\u5355\u7eaf\u7684\u6d41\u52a8\u6027\u6fc0\u52b1\uff0c\u800c\u662f\u57fa\u4e8e\u7cfb\u7edf\u6027\u7b97\u6cd5\u4e0e\u8d44\u91d1\u6c60\u7684\u5408\u7406\u914d\u7f6e\uff0c\u786e\u4fdd\u4e86\u505a\u5e02\u7684\u53ef\u6301\u7eed\u6027\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">HIP-3 \u53ef\u4ee5\u8bf4\u662f Hyperliquid \u6cbb\u7406\u4e0e\u5236\u5ea6\u8bbe\u8ba1\u7684\u6807\u5fd7\u6027\u521b\u65b0\u3002\u6839\u636e\u8be5\u63d0\u6848\uff0c\u4efb\u4f55 Builder\uff08\u6784\u5efa\u8005\uff09 \u53ea\u8981\u8d28\u62bc 100 \u4e07 HYPE \u5e76\u53c2\u4e0e\u8377\u5170\u62cd\u5356\uff0c\u5c31\u80fd\u83b7\u5f97\u90e8\u7f72\u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u7684\u6743\u5229\u3002\u66f4\u91cd\u8981\u7684\u662f\uff0cBuilder \u5728\u65b0\u5e02\u573a\u4e2d\u53ef\u4eab\u6709 \u6700\u9ad8 50% \u7684\u624b\u7eed\u8d39\u6536\u5165\u5206\u6210\uff0c\u5e76\u80fd\u81ea\u5b9a\u4e49\u4ea4\u6613\u53c2\u6570\u4e0e\u8d39\u7387\u3002\u8fd9\u4e00\u673a\u5236\u6781\u5927\u91ca\u653e\u4e86\u793e\u533a\u7684\u521b\u9020\u529b\uff0c\u5c06\u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u7684\u4f9b\u7ed9\u6743\u4ece\u5b98\u65b9\u56e2\u961f\u8f6c\u4ea4\u7ed9\u751f\u6001\u53c2\u4e0e\u8005\u3002HIP-3 \u7684\u6f5c\u5728\u5f71\u54cd\u662f\u6df1\u8fdc\u7684\uff1a \u5b83\u8ba9 Hyperliquid \u80fd\u591f\u5feb\u901f\u6269\u5c55\u5230 RWA\uff08\u771f\u5b9e\u4e16\u754c\u8d44\u4ea7\uff09\u3001\u6307\u6570\u3001\u5546\u54c1\u3001\u5916\u6c47\u3001\u751a\u81f3 Pre-IPO \u80a1\u7968 \u7b49\u957f\u5c3e\u8d44\u4ea7\uff0c\u5f62\u6210\u4e0e CEX \u5dee\u5f02\u5316\u7684\u4ea7\u54c1\u4f9b\u7ed9\uff1b \u5b83\u901a\u8fc7\u9ad8\u989d\u8d28\u62bc\u95e8\u69db\u4e0e\u62cd\u5356\u673a\u5236\uff0c\u7b5b\u9009\u51fa\u5177\u5907\u957f\u671f\u6295\u5165\u4e0e\u8d44\u91d1\u5b9e\u529b\u7684\u5efa\u8bbe\u8005\uff0c\u907f\u514d\u4e86\u4f4e\u8d28\u91cf\u5e02\u573a\u6cdb\u6ee5\uff1b \u5b83\u628a\u624b\u7eed\u8d39\u5206\u6da6\u4e0e\u6cbb\u7406\u7ed1\u5b9a\u5728\u4e00\u8d77\uff0c\u4f7f\u793e\u533a\u5728\u6269\u5c55\u65b0\u5e02\u573a\u65f6\u5177\u5907\u660e\u786e\u7684\u7ecf\u6d4e\u6fc0\u52b1\u3002&nbsp;<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u603b\u4f53\u800c\u8a00\uff0cHIP \u7cfb\u5217\u63d0\u6848\u5c55\u73b0\u4e86 Hyperliquid \u5236\u5ea6\u8bbe\u8ba1\u7684\u903b\u8f91\uff1a\u5148\u901a\u8fc7\u5f00\u653e\u4e0a\u5e01\u4e0e\u81ea\u52a8\u5316\u505a\u5e02\u964d\u4f4e\u51c6\u5165\u95e8\u69db\uff0c\u518d\u901a\u8fc7 Builder \u673a\u5236\u5b9e\u73b0\u4f9b\u7ed9\u53bb\u4e2d\u5fc3\u5316\u4e0e\u89c4\u6a21\u5316\u6269\u5c55\u3002\u8fd9\u4e00\u6cbb\u7406\u6846\u67b6\u4e0d\u4ec5\u89e3\u51b3\u4e86\u4f20\u7edf DEX \u7684\u589e\u957f\u74f6\u9888\uff0c\u4e5f\u5851\u9020\u4e86 Hyperliquid \u957f\u671f\u6f14\u5316\u7684\u5236\u5ea6\u57fa\u7840\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5728\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u4e2d\uff0c\u7528\u6237\u4fe1\u4efb\u662f\u5e73\u53f0\u5f97\u4ee5\u957f\u671f\u53d1\u5c55\u7684\u6839\u672c\u3002Hyperliquid \u7684\u6838\u5fc3\u64ae\u5408\u903b\u8f91\u4e0e\u8d44\u91d1\u6d41\u8f6c\u673a\u5236\u5728\u5916\u754c\u770b\u6765\u5e26\u6709\u4e00\u5b9a\u7684\u300c\u4e2d\u5fc3\u5316\u5904\u7406\u300d\u8272\u5f69\uff0c\u4f46\u5b83\u4ecd\u7136\u5728\u77ed\u671f\u5185\u5efa\u7acb\u8d77\u4e86\u6781\u5f3a\u7684\u7528\u6237\u4fe1\u4efb\u3002\u8fd9\u79cd\u4fe1\u4efb\u7684\u5f62\u6210\uff0c\u6e90\u81ea\u6027\u80fd\u3001\u5236\u5ea6\u4e0e\u53d9\u4e8b\u4e09\u65b9\u9762\u7684\u5171\u540c\u4f5c\u7528\u3002\u9996\u5148\uff0c\u6027\u80fd\u4e0e\u4f53\u9a8c\u662f\u6700\u76f4\u63a5\u7684\u5438\u5f15\u529b\u3002Hyperliquid \u63d0\u4f9b\u63a5\u8fd1\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u7684\u4ea4\u6613\u901f\u5ea6\u4e0e\u6df1\u5ea6\uff0c\u64ae\u5408\u5ef6\u8fdf\u4f4e\u81f3 200 \u6beb\u79d2\uff0c\u8db3\u4ee5\u652f\u6491\u9ad8\u9891\u4ea4\u6613\u8005\u4e0e\u673a\u6784\u7528\u6237\u7684\u9700\u6c42\u3002\u7528\u6237\u5728\u94fe\u4e0a\u4f53\u9a8c\u51e0\u4e4e\u65e0\u7f1d\u8854\u63a5\u4e8e CEX\uff0c\u5374\u53c8\u4e0d\u5fc5\u627f\u62c5\u4e2d\u5fc3\u5316\u6258\u7ba1\u7684\u98ce\u9669\u3002\u5176\u6b21\uff0c\u900f\u660e\u4e0e\u975e\u6258\u7ba1\u8ba9\u7528\u6237\u66f4\u6709\u5b89\u5168\u611f\u3002\u5e73\u53f0\u4e0d\u8bbe\u5229\u6da6\u62bd\u53d6\u673a\u5236\uff0c\u624b\u7eed\u8d39\u6536\u5165\u5168\u90e8\u56de\u9988\u81f3 HLP \u534f\u8bae\u91d1\u5e93\u4e0e\u751f\u6001\u57fa\u91d1\u3002\u7528\u6237\u8d44\u4ea7\u59cb\u7ec8\u638c\u63e1\u5728\u81ea\u5df1\u624b\u4e2d\uff0c\u6240\u6709\u4ea4\u6613\u8bb0\u5f55\u94fe\u4e0a\u53ef\u67e5\uff0c\u8fd9\u4e0e\u4f20\u7edf\u4ea4\u6613\u6240\u7684\u300c\u9ed1\u7bb1\u300d\u5f62\u6210\u9c9c\u660e\u5bf9\u6bd4\u3002\u7b2c\u4e09\uff0c\u793e\u533a\u6240\u6709\u6743\u6784\u6210\u4e86\u4ef7\u503c\u89c2\u5c42\u9762\u7684\u4fe1\u4efb\u57fa\u7840\u3002Hyperliquid \u59cb\u7ec8\u62d2\u7edd VC \u6295\u8d44\uff0c\u4e0d\u5411\u5916\u90e8\u8d44\u672c\u8f93\u9001\u5229\u76ca\uff0c\u800c\u662f\u575a\u6301\u300c\u7528\u6237\u5373\u6240\u6709\u8005\u300d\u3002\u8fd9\u79cd\u53d9\u4e8b\u4e0d\u4ec5\u6d88\u89e3\u4e86\u300c\u8d44\u672c\u4e0e\u7528\u6237\u535a\u5f08\u300d\u7684\u7591\u8651\uff0c\u4e5f\u8ba9\u7528\u6237\u5728\u5fc3\u7406\u4e0a\u628a\u81ea\u5df1\u89c6\u4e3a\u5e73\u53f0\u7684\u5171\u540c\u5efa\u8bbe\u8005\u4e0e\u957f\u671f\u53d7\u76ca\u4eba\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u6b64\u5916\uff0c\u9cb8\u9c7c\u6548\u5e94\u4e5f\u653e\u5927\u4e86\u4fe1\u4efb\u7684\u4f20\u9012\u3002\u77e5\u540d\u5927\u6237 James Wynn \u5728\u5e73\u53f0\u4e0a\u901a\u8fc7\u6570\u4ebf\u7f8e\u5143\u4ed3\u4f4d\u4e0e\u9ad8\u500d\u6760\u6746\u8fdb\u884c\u4ea4\u6613\uff0c\u5e76\u521b\u9020\u51fa\u6781\u9ad8\u7684\u56de\u62a5\uff0c\u8fd9\u7c7b\u900f\u660e\u53ef\u89c1\u7684\u6210\u529f\u6848\u4f8b\u6781\u5927\u589e\u5f3a\u4e86\u666e\u901a\u7528\u6237\u7684\u4fe1\u4efb\u611f\uff0c\u5e26\u52a8\u4e86\u66f4\u591a\u8d44\u91d1\u6d41\u5165\u3002\u6700\u540e\uff0c\u901a\u7f29\u4e0e\u6fc0\u52b1\u673a\u5236\u5de9\u56fa\u4e86\u4ee3\u5e01\u4ef7\u503c\u7684\u9884\u671f\u3002HYPE \u4ee3\u5e01\u4e0d\u4ec5\u662f\u6cbb\u7406\u4e0e\u8d28\u62bc\u7684\u5de5\u5177\uff0c\u8fd8\u80fd\u63d0\u4f9b\u624b\u7eed\u8d39\u6298\u6263\uff0c\u90e8\u5206\u5e73\u53f0\u6536\u5165\u66f4\u4f1a\u7528\u4e8e\u4ee3\u5e01\u5e93\u85cf\u80a1\u4e0e\u9500\u6bc1\u3002\u8fd9\u79cd\u8bbe\u8ba1\u8ba9\u7528\u6237\u76f8\u4fe1\u5e73\u53f0\u589e\u957f\u4e0e\u4ee3\u5e01\u4ef7\u503c\u4e4b\u95f4\u5b58\u5728\u76f4\u63a5\u7ed1\u5b9a\u5173\u7cfb\uff0c\u4ece\u800c\u66f4\u613f\u610f\u957f\u671f\u6301\u6709\u4e0e\u53c2\u4e0e\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u7efc\u4e0a\u6240\u8ff0\uff0cHyperliquid \u7684\u4fe1\u4efb\u98de\u8f6e\u7531\u6280\u672f\u6027\u80fd\u3001\u900f\u660e\u5236\u5ea6\u3001\u793e\u533a\u6240\u6709\u6743\u3001\u793a\u8303\u6548\u5e94\u4e0e\u901a\u7f29\u673a\u5236\u5171\u540c\u9a71\u52a8\u3002\u8fd9\u79cd\u590d\u5408\u4fe1\u4efb\u7ed3\u6784\uff0c\u4f7f\u5176\u5728\u77ed\u65f6\u95f4\u5185\u7a81\u7834\u4e86\u300c\u50cf CEX \u4e00\u6837\u9700\u8981\u4fe1\u4efb\u300d\u7684\u4e89\u8bae\uff0c\u53cd\u800c\u5f62\u6210\u4e86\u72ec\u7279\u7684\u7ade\u4e89\u4f18\u52bf\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u56db\u3001\u5e02\u573a\u8868\u73b0\u4e0e\u7ade\u4e89\u683c\u5c40<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align:center\">\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5230 2025 \u5e74\uff0cHyperliquid \u5df2\u6210\u4e3a DeFi \u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u7684\u7edd\u5bf9\u9738\u4e3b\uff0c\u5e02\u573a\u5e02\u5360\u7387\u7a33\u5b9a\u5728 70\u201380% \u4e4b\u95f4\u3002\u5176\u65e5\u5747\u4ea4\u6613\u91cf\u8fbe\u5230 \u6570\u767e\u4ebf\u7f8e\u5143\uff0c\u4e0d\u4ec5\u8fdc\u8d85\u5176\u4ed6\u53bb\u4e2d\u5fc3\u5316\u884d\u751f\u54c1\u5e73\u53f0\uff0c\u4e5f\u5df2\u7ecf\u4e0e\u90e8\u5206\u4e2d\u578b\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u89c4\u6a21\u76f8\u5f53\u3002\u636eDefiLlama\u6570\u636e\u663e\u793a\uff0cHyperliquid\u534f\u8bae\u5e74\u5316\u8d39\u7528\u8fbe13.45\u4ebf\u7f8e\u5143\uff0c\u8fc7\u53bb30\u5929\u8d39\u7528\u4e3a1.1026\u4ebf\u7f8e\u5143\uff0c\u7d2f\u8ba1\u8d39\u7528\u5df2\u8fbe\u52306.6098\u4ebf\u7f8e\u5143\u3002\u540c\u65f6\uff0c\u5e74\u5316\u6536\u5165\u8fbe12.51\u4ebf\u7f8e\u5143\uff0c\u8fc7\u53bb30\u5929\u6536\u5165\u4e3a1.0255\u4ebf\u7f8e\u5143\uff0c\u7d2f\u8ba1\u6536\u5165\u4e3a6.3646\u4ebf\u7f8e\u5143\u3002\u8fd9\u79cd\u4f53\u91cf\u4f7f\u5f97 Hyperliquid \u6210\u4e3a\u540d\u526f\u5176\u5b9e\u7684\u300c\u94fe\u4e0a\u6d41\u52a8\u6027\u5e95\u5ea7\u300d\u3002\u5728\u8d44\u91d1\u4f53\u91cf\u65b9\u9762\uff0cHyperliquid \u7684 TVL \u8d85\u8fc7 20 \u4ebf\u7f8e\u5143\uff0c\u53cd\u6620\u51fa\u7528\u6237\u7684\u8d44\u4ea7\u6c89\u6dc0\u4e0e\u534f\u8bae\u5b89\u5168\u6027\u3002\u5176\u4ee3\u5e01 HYPE \u5e02\u503c\u4e00\u5ea6\u8fbe\u5230 160 \u4ebf\u7f8e\u5143\uff0c\u5b8c\u5168\u7a00\u91ca\u4f30\u503c\uff08FDV\uff09\u66f4\u662f\u7a81\u7834 460 \u4ebf\u7f8e\u5143\u3002\u5982\u6b64\u9ad8\u7684\u4f30\u503c\u4e0d\u4ec5\u4f53\u73b0\u5e02\u573a\u5bf9\u5176\u5546\u4e1a\u6a21\u5f0f\u7684\u8ba4\u53ef\uff0c\u4e5f\u8bf4\u660e\u6295\u8d44\u8005\u666e\u904d\u770b\u597d\u5176\u957f\u671f\u53d1\u5c55\u6f5c\u529b\u3002Hyperliquid \u5728\u901f\u5ea6\u4e0e\u7528\u6237\u4f53\u9a8c\u4e0a\u5df2\u63a5\u8fd1 Binance \u7b49\u4e2d\u5fc3\u5316\u5de8\u5934\uff0c\u540c\u65f6\u51ed\u501f\u975e\u6258\u7ba1\u4e0e\u793e\u533a\u6240\u6709\u6743\u7684\u8bbe\u8ba1\uff0c\u89c4\u907f\u4e86 CeFi \u6a21\u5f0f\u4e0b\u7684\u4fe1\u4efb\u4e0e\u76d1\u7ba1\u5371\u673a\u3002\u5728\u5168\u7403\u7528\u6237\u5bf9 CEX \u4fe1\u4efb\u5ea6\u4e0b\u964d\u7684\u5927\u80cc\u666f\u4e0b\uff0c\u8fd9\u79cd\u5dee\u5f02\u5316\u6210\u4e3a Hyperliquid \u7684\u6218\u7565\u4f18\u52bf\u3002\u7136\u800c\uff0c\u672a\u6765\u968f\u8457\u76d1\u7ba1\u8d8b\u4e25\uff0cHyperliquid \u5982\u4f55\u5e73\u8861\u300c\u65e0 KYC\u3001\u8de8\u94fe\u81ea\u7531\u300d\u4e0e\u300c\u5408\u89c4\u8981\u6c42\u300d\u4e4b\u95f4\u7684\u77db\u76fe\uff0c\u5c06\u6210\u4e3a\u5176\u6301\u7eed\u6269\u5f20\u5fc5\u987b\u9762\u5bf9\u7684\u6311\u6218\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5728 DEX \u8d5b\u9053\u4e2d\uff0cHyperliquid \u7684\u4f18\u52bf\u4e5f\u5341\u5206\u660e\u663e\uff1a \u76f8\u6bd4 AMM \u578b DEX\uff08\u5982 Uniswap\uff09\uff0cHyperliquid \u63d0\u4f9b\u66f4\u4e13\u4e1a\u7684\u8ba2\u5355\u7c3f\u4ea4\u6613\u5de5\u5177\u4e0e\u66f4\u6df1\u7684\u6d41\u52a8\u6027\u6df1\u5ea6\uff0c\u80fd\u591f\u5438\u5f15\u673a\u6784\u4e0e\u9ad8\u9891\u7528\u6237\u3002 \u76f8\u6bd4 dYdX V4 \u7b49\u8ba2\u5355\u7c3f\u578b DEX\uff0cHyperliquid \u81ea\u7814\u7684\u9ad8\u6027\u80fd L1 \u4e0e HLP \u6a21\u578b\u5c55\u73b0\u4e86\u66f4\u5f3a\u7684\u6027\u80fd\u548c\u97e7\u6027\uff0c\u907f\u514d\u4e86\u4f9d\u8d56\u5916\u90e8\u94fe\u7684\u6027\u80fd\u74f6\u9888\u3002 \u603b\u4f53\u6765\u770b\uff0cHyperliquid \u5df2\u7ecf\u5728 DeFi \u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u5efa\u7acb\u4e86\u4e8b\u5b9e\u4e0a\u7684\u5784\u65ad\u5730\u4f4d\u3002\u5b83\u65e2\u662f\u5bf9 CEX \u7684\u6311\u6218\u8005\uff0c\u4e5f\u662f\u5bf9\u5176\u4ed6 DEX \u7684\u8d85\u8d8a\u8005\u3002Hyperliquid \u7684\u6cbb\u7406\u4e0e\u5236\u5ea6\u8bbe\u8ba1\u901a\u8fc7 HIP \u7cfb\u5217\u63d0\u6848\u5b9e\u73b0\u4e86\u4ece\u4e0a\u5e01\u3001\u505a\u5e02\u5230\u884d\u751f\u54c1\u5e02\u573a\u6269\u5c55\u7684\u5168\u6d41\u7a0b\u5f00\u653e\uff1b\u5176\u7528\u6237\u4fe1\u4efb\u6765\u6e90\u4e8e\u6027\u80fd\u3001\u900f\u660e\u5ea6\u4e0e\u4ef7\u503c\u89c2\u7684\u53e0\u52a0\u98de\u8f6e\uff1b\u5176\u5e02\u573a\u8868\u73b0\u5219\u8bc1\u660e\u4e86\u8fd9\u79cd\u6a21\u5f0f\u7684\u6210\u529f\u3002\u5728 2025 \u5e74\uff0c\u5b83\u4e0d\u4ec5\u662f DeFi \u6c38\u7eed\u5408\u7ea6\u7684\u9738\u4e3b\uff0c\u66f4\u662f\u300c\u94fe\u4e0a\u6d41\u52a8\u6027\u57fa\u7840\u8bbe\u65bd\u300d\u7684\u96cf\u5f62\u3002\u7136\u800c\uff0c\u76d1\u7ba1\u4e0e\u6cbb\u7406\u4ecd\u662f\u672a\u6765\u7684\u5173\u952e\u6311\u6218\u3002\u5bf9\u5176\u4ed6 DEX \u800c\u8a00\uff0cHyperliquid \u7684\u7ecf\u9a8c\u8868\u660e\uff1a\u552f\u6709\u5c06\u6280\u672f\u6027\u80fd\u3001\u5236\u5ea6\u521b\u65b0\u4e0e\u4ef7\u503c\u53d9\u4e8b\u4e09\u8005\u7ed3\u5408\uff0c\u624d\u80fd\u5728\u6fc0\u70c8\u7ade\u4e89\u4e2d\u5efa\u7acb\u957f\u671f\u62a4\u57ce\u6cb3\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u4e94\u3001\u98ce\u9669\u4e0e\u6311\u6218<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u867d\u7136 Hyperliquid \u5728\u77ed\u65f6\u95f4\u5185\u5b9e\u73b0\u4e86\u4ece\u5c0f\u56e2\u961f\u5230\u5e02\u573a\u9738\u4e3b\u7684\u98de\u8dc3\uff0c\u4f46\u4efb\u4f55\u5feb\u901f\u6210\u957f\u7684\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u90fd\u4e0d\u53ef\u907f\u514d\u5730\u9762\u4e34\u4e00\u7cfb\u5217\u98ce\u9669\u4e0e\u6311\u6218\u3002\u5bf9\u4e8e Hyperliquid \u6765\u8bf4\uff0c\u8fd9\u4e9b\u6311\u6218\u4e0d\u4ec5\u51b3\u5b9a\u4e86\u5176\u80fd\u5426\u7ee7\u7eed\u4fdd\u6301\u9886\u5148\u5730\u4f4d\uff0c\u4e5f\u5c06\u5f71\u54cd\u6574\u4e2a DeFi \u884d\u751f\u54c1\u8d5b\u9053\u7684\u683c\u5c40\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u9996\u8981\u6311\u6218\u6765\u81ea\u5168\u7403\u76d1\u7ba1\u73af\u5883\u7684\u4e0d\u786e\u5b9a\u6027\u3002Hyperliquid \u7684\u6a21\u5f0f\u5f3a\u8c03 \u65e0 KYC\u3001\u8de8\u94fe\u8d44\u91d1\u81ea\u7531\u6d41\u52a8\uff0c\u8fd9\u5728\u7528\u6237\u4f53\u9a8c\u548c\u5e02\u573a\u6269\u5c55\u4e0a\u662f\u4f18\u52bf\uff0c\u4f46\u5728\u5408\u89c4\u5c42\u9762\u5374\u53ef\u80fd\u6210\u4e3a\u6f5c\u5728\u9690\u60a3\u3002\u5404\u56fd\u76d1\u7ba1\u673a\u6784\u65e5\u76ca\u5173\u6ce8\u52a0\u5bc6\u884d\u751f\u54c1\u7684\u6760\u6746\u98ce\u9669\u3001\u53cd\u6d17\u94b1\u8981\u6c42\u4ee5\u53ca\u8de8\u5883\u8d44\u91d1\u6d41\u52a8\uff0c\u672a\u6765\u53ef\u80fd\u51fa\u53f0\u5f3a\u5236\u6027\u7684\u6ce8\u518c\u6216\u8eab\u4efd\u9a8c\u8bc1\u8981\u6c42\u3002\u4e00\u65e6 Hyperliquid \u9762\u4e34\u533a\u57df\u6027\u9650\u5236\uff0c\u53ef\u80fd\u4f1a\u5f71\u54cd\u5176\u7528\u6237\u589e\u957f\u548c\u6d41\u52a8\u6027\u3002\u4e0e CeFi \u5e73\u53f0\u4e0d\u540c\uff0cDeFi \u534f\u8bae\u96be\u4ee5\u901a\u8fc7\u4f20\u7edf\u724c\u7167\u5316\u8def\u5f84\u89e3\u51b3\u5408\u89c4\u95ee\u9898\uff0c\u5982\u4f55\u5728\u76d1\u7ba1\u5408\u89c4\u4e0e\u53bb\u4e2d\u5fc3\u5316\u7cbe\u795e\u4e4b\u95f4\u53d6\u5f97\u5e73\u8861\uff0c\u5c06\u662f Hyperliquid \u7684\u957f\u671f\u6311\u6218\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u867d\u7136 Hyperliquid \u5021\u5bfc\u300c\u7528\u6237\u5373\u6240\u6709\u8005\u300d\uff0c\u901a\u8fc7 HIP \u63d0\u6848\u4e0e HLP \u91d1\u5e93\u6765\u5b9e\u73b0\u6cbb\u7406\u6c11\u4e3b\u5316\uff0c\u4f46\u5b9e\u8df5\u4e2d\u4ecd\u5b58\u5728\u6cbb\u7406\u96c6\u4e2d\u5316\u7684\u98ce\u9669\u3002\u4f8b\u5982\u5728 JELLYJELLY \u64cd\u7eb5\u4e8b\u4ef6\u4e2d\uff0cHyper Foundation \u9700\u8981\u4ecb\u5165\u6cbb\u7406\u5e76\u5e72\u9884\u5e02\u573a\uff0c\u663e\u793a\u51fa\u751f\u6001\u4ecd\u4f9d\u8d56\u6838\u5fc3\u56e2\u961f\u7684\u6700\u7ec8\u51b3\u7b56\u3002\u8fd9\u79cd\u73b0\u8c61\u63ed\u793a\u4e86\u4e00\u4e2a\u6096\u8bba\uff1a\u53bb\u4e2d\u5fc3\u5316\u7684\u5236\u5ea6\u8bbe\u8ba1\u5728\u9047\u5230\u590d\u6742\u6cbb\u7406\u6216\u6076\u610f\u653b\u51fb\u65f6\uff0c\u5f80\u5f80\u4ecd\u9700\u8981\u4e2d\u5fc3\u5316\u529b\u91cf\u6765\u515c\u5e95\u3002\u672a\u6765\u5982\u4f55\u8fdb\u4e00\u6b65\u4f18\u5316\u9a8c\u8bc1\u4eba\u6cbb\u7406\u673a\u5236\uff0c\u786e\u4fdd Builder \u4e0e\u7528\u6237\u4e4b\u95f4\u7684\u5229\u76ca\u5e73\u8861\uff0c\u5c06\u76f4\u63a5\u5f71\u54cd Hyperliquid \u7684\u957f\u671f\u53ef\u6301\u7eed\u6027\u3002Hyperliquid \u7684\u9ad8\u6027\u80fd\u64ae\u5408\u5f15\u64ce\u4e0e\u8de8\u94fe\u6865\u8bbe\u8ba1\u662f\u5176\u7ade\u4e89\u4f18\u52bf\uff0c\u4f46\u4e5f\u6f5c\u85cf\u7cfb\u7edf\u6027\u98ce\u9669\u3002\u5728\u6781\u7aef\u5e02\u573a\u6ce2\u52a8\u6216\u5927\u89c4\u6a21\u6e05\u7b97\u4e8b\u4ef6\u4e2d\uff0c\u8de8\u94fe\u5165\u91d1\u3001\u6e05\u7b97\u548c\u8d44\u91d1\u7ed3\u7b97\u53ef\u80fd\u627f\u53d7\u5de8\u5927\u538b\u529b\u3002\u4e00\u65e6\u51fa\u73b0\u5ef6\u8fdf\u6216\u5931\u8d25\uff0c\u53ef\u80fd\u5f71\u54cd\u7528\u6237\u4fe1\u4efb\u3002\u6b64\u5916\uff0c\u867d\u7136 HLP \u91d1\u5e93\u627f\u62c5\u4e86\u5927\u90e8\u5206\u98ce\u9669\uff0c\u4f46\u5176\u627f\u53d7\u6781\u7aef\u635f\u5931\u7684\u80fd\u529b\u4ecd\u6709\u4e0a\u9650\u3002\u5982\u4f55\u5728\u4e0d\u5f71\u54cd\u7528\u6237\u4f53\u9a8c\u7684\u60c5\u51b5\u4e0b\u63d0\u5347\u7cfb\u7edf\u5f39\u6027\uff0c\u662f Hyperliquid \u5fc5\u987b\u6301\u7eed\u6295\u5165\u7684\u65b9\u5411\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u6536\u5165\u9ad8\u5ea6\u4f9d\u8d56\u5e02\u573a\u6d3b\u8dc3\u5ea6\uff0c\u5c24\u5176\u662f\u884d\u751f\u54c1\u4ea4\u6613\u7684\u6760\u6746\u9700\u6c42\u3002\u5728\u725b\u5e02\u9636\u6bb5\uff0c\u4ea4\u6613\u91cf\u4e0e\u624b\u7eed\u8d39\u6536\u5165\u80fd\u8fc5\u901f\u589e\u957f\uff0c\u4f46\u5728\u718a\u5e02\u73af\u5883\u4e0b\uff0c\u4ea4\u6613\u6d3b\u52a8\u4e0b\u964d\u53ef\u80fd\u5bfc\u81f4\u534f\u8bae\u6536\u5165\u5927\u5e45\u7f29\u6c34\u3002\u5982\u679c\u5e73\u53f0\u65e0\u6cd5\u5728\u4f4e\u8ff7\u5468\u671f\u7ef4\u6301\u8db3\u591f\u7684\u6536\u76ca\u5206\u914d\uff0c\u53ef\u80fd\u524a\u5f31 HLP \u5b58\u6b3e\u4eba\u7684\u79ef\u6781\u6027\uff0c\u8fdb\u800c\u5f71\u54cd\u5e02\u573a\u6df1\u5ea6\u4e0e\u6574\u4f53\u751f\u6001\u7a33\u5b9a\u3002\u5546\u4e1a\u6a21\u5f0f\u7684\u5468\u671f\u6027\u98ce\u9669\uff0c\u9700\u8981\u901a\u8fc7\u591a\u5143\u5316\u4ea7\u54c1\uff08\u5982 RWA\u3001\u501f\u8d37\u7b49\uff09\u6765\u90e8\u5206\u5bf9\u51b2\u3002\u6b64\u5916\uff0cHyperliquid \u7684\u54c1\u724c\u53d9\u4e8b\u5efa\u7acb\u5728\u300c\u62d2\u7edd VC\u3001\u793e\u533a\u6240\u6709\u6743\u300d\u4e4b\u4e0a\uff0c\u8fd9\u662f\u5176\u5dee\u5f02\u5316\u7684\u91cd\u8981\u8d44\u4ea7\u3002\u7136\u800c\uff0c\u4e00\u65e6\u51fa\u73b0\u56e2\u961f\u88ab\u8d28\u7591\u9690\u6027\u83b7\u5229\u3001\u6216\u6cbb\u7406\u7ed3\u6784\u906d\u9047\u9ed1\u7bb1\u5316\u4e89\u8bae\uff0c\u53ef\u80fd\u8fc5\u901f\u524a\u5f31\u7528\u6237\u5bf9\u53d9\u4e8b\u7684\u4fe1\u4efb\u3002\u6b64\u5916\uff0c\u968f\u8457\u9cb8\u9c7c\u6548\u5e94\u7684\u5f3a\u5316\uff0c\u90e8\u5206\u7528\u6237\u62c5\u5fc3 Hyperliquid \u8fc7\u5ea6\u4f9d\u8d56\u5927\u6237\u8d44\u91d1\uff0c\u53ef\u80fd\u9020\u6210\u5e02\u573a\u6ce2\u52a8\u4e0e\u5229\u76ca\u5206\u914d\u7684\u4e0d\u5747\u8861\u3002\u8fd9\u7c7b\u8ba4\u77e5\u98ce\u9669\u82e5\u672a\u88ab\u59a5\u5584\u7ba1\u7406\uff0c\u53ef\u80fd\u8f6c\u5316\u4e3a\u793e\u533a\u88c2\u75d5\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5c0f\u7ed3\uff1a\u76d1\u7ba1\u3001\u6cbb\u7406\u3001\u7cfb\u7edf\u7a33\u5b9a\u6027\u3001\u5e02\u573a\u5468\u671f\u4e0e\u54c1\u724c\u8ba4\u77e5\uff0c\u662f Hyperliquid \u672a\u6765\u7684\u4e94\u5927\u98ce\u9669\u6e90\u3002\u8fd9\u4e9b\u6311\u6218\u5e76\u4e0d\u4f1a\u524a\u5f31\u5176\u5f53\u524d\u7684\u9886\u5148\u5730\u4f4d\uff0c\u4f46\u51b3\u5b9a\u4e86\u5176\u80fd\u5426\u6210\u4e3a\u771f\u6b63\u7684\u300c\u8de8\u94fe\u6d41\u52a8\u6027\u57fa\u7840\u8bbe\u65bd\u300d\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u516d\u3001\u5bf9 DEX \u8425\u9500\u7684\u542f\u793a<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u6210\u529f\u7ecf\u9a8c\u4e0d\u4ec5\u9650\u4e8e\u4ea7\u54c1\u5c42\u9762\uff0c\u66f4\u5728\u4e8e\u5176\u5728\u53d9\u4e8b\u4e0e\u5236\u5ea6\u4e0a\u5f62\u6210\u4e86\u6781\u5177\u501f\u9274\u610f\u4e49\u7684\u6a21\u5f0f\u3002\u5bf9\u4e8e\u5e0c\u671b\u5728\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u8d5b\u9053\u4e2d\u5d1b\u8d77\u7684\u540e\u6765\u8005\u800c\u8a00\uff0cHyperliquid \u7684\u6253\u6cd5\u63d0\u4f9b\u4e86\u6e05\u6670\u7684\u542f\u793a\u3002\u5305\u62ec\uff1a1.\u53d9\u4e8b\u9a71\u52a8\uff1a\u7528\u6237\u6240\u6709\u6743\u4e0e\u4ef7\u503c\u56de\u9988\u3002Hyperliquid \u59cb\u7ec8\u5f3a\u8c03\u300c\u62d2\u7edd VC\u3001\u7528\u6237\u5373\u6240\u6709\u8005\u300d\uff0c\u5e76\u901a\u8fc7\u624b\u7eed\u8d39\u5206\u6da6\u3001HLP \u6536\u76ca\u5171\u4eab\u6765\u843d\u5b9e\u8fd9\u4e00\u70b9\u3002\u8fd9\u79cd\u53d9\u4e8b\u4e0d\u4ec5\u63d0\u5347\u4e86\u7528\u6237\u5f52\u5c5e\u611f\uff0c\u4e5f\u6784\u5efa\u4e86\u6781\u5f3a\u7684\u793e\u533a\u9ecf\u6027\u3002\u5bf9\u4e8e\u4efb\u4f55 DEX \u6765\u8bf4\uff0c\u53d9\u4e8b\u5e76\u975e\u5355\u7eaf\u7684\u5ba3\u4f20\uff0c\u800c\u662f\u4e00\u79cd\u5236\u5ea6\u4e0e\u5b9e\u8df5\u7684\u7edf\u4e00\uff1a\u53ea\u6709\u8ba9\u7528\u6237\u5207\u5b9e\u611f\u53d7\u5230\u5e73\u53f0\u6210\u957f\u5e26\u6765\u7684\u7ea2\u5229\uff0c\u53d9\u4e8b\u624d\u5177\u6709\u6301\u4e45\u529b\u30022.\u4ea7\u54c1\u9a71\u52a8\uff1a\u6027\u80fd\u4e0e\u4f53\u9a8c\u5e76\u91cd\u3002Hyperliquid \u7684\u6838\u5fc3\u7ade\u4e89\u529b\u6765\u81ea\u300c\u53cc\u5f15\u64ce\u67b6\u6784 + \u5168\u94fe\u4e0a\u8ba2\u5355\u7c3f\u300d\u3002\u8fd9\u4e00\u70b9\u8bf4\u660e\uff0c\u5728 DEX \u9886\u57df\uff0c\u7528\u6237\u4e0d\u4f1a\u56e0\u4e3a\u53bb\u4e2d\u5fc3\u5316\u800c\u964d\u4f4e\u5bf9\u4f53\u9a8c\u7684\u8981\u6c42\u3002\u76f8\u53cd\uff0c\u53ea\u6709\u5728\u6027\u80fd\u63a5\u8fd1 CEX \u7684\u60c5\u51b5\u4e0b\uff0c\u7528\u6237\u624d\u613f\u610f\u957f\u671f\u4f7f\u7528\u3002\u56e0\u6b64\uff0c\u5bf9\u4e8e\u540e\u6765\u8005\u800c\u8a00\uff0c\u8425\u9500\u4e0d\u80fd\u4ec5\u505c\u7559\u5728\u300c\u53bb\u4e2d\u5fc3\u5316\u300d\u7684\u6807\u7b7e\uff0c\u800c\u5fc5\u987b\u628a\u300c\u9ad8\u6027\u80fd\u3001\u4f4e\u5ef6\u8fdf\u3001\u900f\u660e\u53ef\u9a8c\u8bc1\u300d\u7ed3\u5408\u8d77\u6765\uff0c\u5411\u7528\u6237\u4f20\u9012\u300c\u65e2\u5feb\u53c8\u5b89\u5168\u300d\u7684\u4ea7\u54c1\u5356\u70b9\u30023.\u793e\u533a\u9a71\u52a8\uff1a\u9cb8\u9c7c\u6548\u5e94\u4e0e\u96f6\u552e\u6269\u6563\u3002Hyperliquid \u7684\u589e\u957f\u8def\u5f84\u662f\u5148\u901a\u8fc7\u9cb8\u9c7c\u7528\u6237\u5e26\u52a8\u4ea4\u6613\u91cf\u4e0e\u6d41\u52a8\u6027\uff0c\u518d\u501f\u52a9\u4e0e Phantom \u7b49\u94b1\u5305\u7684\u5408\u4f5c\u5b9e\u73b0\u96f6\u552e\u6269\u6563\u3002\u8fd9\u79cd\u300c\u81ea\u4e0a\u800c\u4e0b + \u81ea\u4e0b\u800c\u4e0a\u300d\u7684\u53cc\u8f6e\u9a71\u52a8\u63d0\u4f9b\u4e86\u4e00\u4e2a\u53ef\u590d\u7528\u7684\u6846\u67b6\u3002\u5bf9 DEX \u6765\u8bf4\uff0c\u524d\u671f\u53ef\u4ee5\u901a\u8fc7\u5c55\u793a\u5927\u6237\u6210\u529f\u6848\u4f8b\u5efa\u7acb\u5e02\u573a\u4fe1\u4efb\uff0c\u800c\u4e2d\u957f\u671f\u5219\u9700\u8981\u901a\u8fc7\u4e0e\u5165\u53e3\u578b\u5e94\u7528\uff08\u94b1\u5305\u3001\u805a\u5408\u5668\uff09\u6df1\u5ea6\u6574\u5408\uff0c\u5c06\u96f6\u552e\u7528\u6237\u7eb3\u5165\u751f\u6001\u30024.\u673a\u5236\u9a71\u52a8\uff1a\u5f00\u653e\u5f0f\u589e\u957f\u4e0e\u5206\u6da6\u903b\u8f91\u3002HIP-3 \u7684\u6210\u529f\u8868\u660e\uff0c\u5f00\u653e\u6784\u5efa\u8005\u751f\u6001\u662f\u6269\u5c55\u5e02\u573a\u7684\u6709\u6548\u65b9\u5f0f\u3002\u901a\u8fc7\u9ad8\u95e8\u69db\u8d28\u62bc\u4e0e\u624b\u7eed\u8d39\u5206\u6da6\uff0cHyperliquid \u628a\u5e02\u573a\u521b\u5efa\u6743\u4e0b\u653e\u7ed9\u793e\u533a\uff0c\u5b9e\u73b0\u4e86\u4f9b\u7ed9\u4fa7\u7684\u89c4\u6a21\u5316\u6269\u5c55\u3002\u5bf9\u8425\u9500\u6765\u8bf4\uff0c\u8fd9\u4e00\u903b\u8f91\u542f\u793a DEX \u5e94\u628a\u300c\u5236\u5ea6\u8bbe\u8ba1\u300d\u672c\u8eab\u4f5c\u4e3a\u589e\u957f\u53d9\u4e8b\u7684\u4e00\u90e8\u5206\uff0c\u5f3a\u8c03\u5e73\u53f0\u662f\u6240\u6709\u4eba\u7684\uff0c\u800c\u975e\u5c11\u6570\u4eba\u7684\u30025.\u54c1\u724c\u9a71\u52a8\uff1a\u4ece DEX \u5230\u300c\u6d41\u52a8\u6027\u5e95\u5ea7\u300d\u3002Hyperliquid \u4e0d\u518d\u628a\u81ea\u5df1\u5b9a\u4f4d\u4e3a\u5355\u4e00\u7684\u4ea4\u6613\u6240\uff0c\u800c\u662f\u5f3a\u8c03\u300c\u8de8\u94fe\u6d41\u52a8\u6027\u57fa\u7840\u8bbe\u65bd\u300d\u3002\u8fd9\u79cd\u5b9a\u4f4d\u4f7f\u5176\u5177\u5907\u66f4\u9ad8\u7684\u6218\u7565\u60f3\u8c61\u7a7a\u95f4\u3002\u5bf9\u4e8e\u4efb\u4f55 DEX\uff0c\u54c1\u724c\u8425\u9500\u7684\u5173\u952e\u5728\u4e8e\u8df3\u51fa\u300c\u5355\u70b9\u5e94\u7528\u300d\u7684\u5c40\u9650\uff0c\u6784\u5efa\u66f4\u5927\u5c42\u7ea7\u7684\u53d9\u4e8b\uff0c\u6bd4\u5982\u300c\u94fe\u4e0a\u7ed3\u7b97\u5c42\u300d\u300c\u8de8\u94fe\u8d44\u4ea7\u7f51\u5173\u300d\uff0c\u4ece\u800c\u83b7\u5f97\u8d85\u8d8a\u5355\u4e00\u4ea7\u54c1\u7684\u6218\u7565\u6ea2\u4ef7\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u542f\u793a\u5728\u4e8e\uff1a\u53d9\u4e8b\u3001\u4ea7\u54c1\u3001\u793e\u533a\u3001\u673a\u5236\u4e0e\u54c1\u724c\u4e94\u4e2a\u7ef4\u5ea6\u5fc5\u987b\u534f\u540c\u53d1\u529b\uff0c\u8425\u9500\u4e0d\u662f\u5355\u4e00\u52a8\u4f5c\uff0c\u800c\u662f\u5236\u5ea6\u3001\u4ea7\u54c1\u4e0e\u6218\u7565\u7684\u7edf\u4e00\u8f93\u51fa\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<h3 style=\"text-align: left\">\u4e03\u3001\u7ed3\u8bba<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">Hyperliquid \u7684\u6545\u4e8b\uff0c\u662f\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u8fdb\u5165\u65b0\u9636\u6bb5\u7684\u91cd\u8981\u6ce8\u811a\u3002\u4ece\u4e00\u4e2a\u4e0d\u8db3\u4e8c\u5341\u4eba\u7684\u56e2\u961f\u8d77\u6b65\uff0c\u5230\u5982\u4eca\u5728\u53bb\u4e2d\u5fc3\u5316\u6c38\u7eed\u5408\u7ea6\u5e02\u573a\u4e2d\u5360\u636e 70\u201380% \u7684\u5e02\u5360\u7387\uff0c\u5176\u80cc\u540e\u7684\u9a71\u52a8\u529b\u91cf\u53ef\u4ee5\u6982\u62ec\u4e3a\u4e09\u70b9\uff1a\u5de5\u7a0b\u6587\u5316\u3001\u5236\u5ea6\u8bbe\u8ba1\u4e0e\u53d9\u4e8b\u4ef7\u503c\u89c2\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<p style=\"text-align: left\">\u5728\u5de5\u7a0b\u5c42\u9762\uff0cHyperliquid \u4f9d\u9760\u7cbe\u5e72\u56e2\u961f\u6253\u9020\u4e86\u81ea\u7814\u9ad8\u6027\u80fd\u94fe\u4e0e\u5168\u94fe\u4e0a\u8ba2\u5355\u7c3f\uff0c\u8bc1\u660e\u5c0f\u56e2\u961f\u4e5f\u80fd\u5728\u7cfb\u7edf\u5de5\u7a0b\u5c42\u9762\u8d85\u8d8a\u4f20\u7edf\u5de8\u5934\uff1b\u5728\u5236\u5ea6\u5c42\u9762\uff0c\u901a\u8fc7 HIP \u7cfb\u5217\u63d0\u6848\u4e0e HLP \u534f\u8bae\u91d1\u5e93\uff0c\u5b83\u5b9e\u73b0\u4e86\u5e02\u573a\u6269\u5c55\u3001\u98ce\u9669\u7ba1\u7406\u4e0e\u6536\u76ca\u5171\u4eab\u7684\u7edf\u4e00\uff1b\u5728\u53d9\u4e8b\u5c42\u9762\uff0c\u901a\u8fc7\u62d2\u7edd VC\u3001\u5f3a\u8c03\u793e\u533a\u6240\u6709\u6743\uff0c\u5b83\u6784\u5efa\u4e86\u7528\u6237\u7684\u5f52\u5c5e\u611f\u4e0e\u4ef7\u503c\u8ba4\u540c\u3002\u8fd9\u4e09\u8005\u5171\u540c\u6784\u6210\u4e86 Hyperliquid \u7684\u300c\u4fe1\u4efb\u98de\u8f6e\u300d\uff0c\u4f7f\u5176\u4e0d\u4ec5\u6210\u4e3a DeFi \u884d\u751f\u54c1\u7684\u9738\u4e3b\uff0c\u4e5f\u6210\u4e3a\u65b0\u4e00\u4ee3\u94fe\u4e0a\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u7684\u96cf\u5f62\u3002\u5c55\u671b\u672a\u6765\uff0cHyperliquid \u5fc5\u987b\u9762\u5bf9\u7684\u6311\u6218\u540c\u6837\u6e05\u6670\uff1a\u76d1\u7ba1\u73af\u5883\u8d8b\u4e25\u3001\u6cbb\u7406\u7ed3\u6784\u7684\u96c6\u4e2d\u5316\u98ce\u9669\u3001\u7cfb\u7edf\u5728\u6781\u7aef\u884c\u60c5\u4e0b\u7684\u5f39\u6027\uff0c\u4ee5\u53ca\u5e02\u573a\u5468\u671f\u5bf9\u6536\u5165\u6a21\u5f0f\u7684\u51b2\u51fb\u3002\u4f46\u5b83\u6240\u5f00\u521b\u7684\u8303\u5f0f\u5df2\u7ecf\u4e3a\u884c\u4e1a\u63d0\u4f9b\u4e86\u501f\u9274\u3002\u5bf9\u4e8e\u540e\u6765\u8005\u800c\u8a00\uff0cHyperliquid 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