SWAP/XDR: Trustswap (SWAP) to Special Drawing Rights (XDR)
Converter & Calculator

SWAP to XDR: 1 Trustswap converts to XDR0.05 XDR

Last Update: 2025-09-30 19:47:01

MEXC Crypto to Fiat Calculator offers real-time exchange rates for easy conversion from SWAP to XDR. All crypto prices are real-time data and can change rapidly. We recommend checking back for the latest conversion result.

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Trustswap to Special Drawing Rights Conversion Table

SWAP to XDR Conversion Table

1 SWAP
0.05 XDR
2 SWAP
0.11 XDR
3 SWAP
0.16 XDR
4 SWAP
0.21 XDR
5 SWAP
0.27 XDR
6 SWAP
0.32 XDR
7 SWAP
0.37 XDR
8 SWAP
0.43 XDR
9 SWAP
0.48 XDR
10 SWAP
0.54 XDR
50 SWAP
2.68 XDR
100 SWAP
5.35 XDR
1,000 SWAP
53.55 XDR
5,000 SWAP
267.75 XDR
10,000 SWAP
535.49 XDR

The table above displays real-time Trustswap to Special Drawing Rights (SWAP to XDR) conversions across a range of values, from 1 SWAP to 10,000 SWAP. It provides a quick reference for commonly checked SWAP amounts using the latest XDR market rates. This is useful for estimating values from small transactions to large holdings. If you are looking for custom SWAP to XDR amounts, please use the tool converter above.

XDR to SWAP Conversion Table

1 XDR
18.67 SWAP
2 XDR
37.34 SWAP
3 XDR
56.023 SWAP
4 XDR
74.69 SWAP
5 XDR
93.37 SWAP
6 XDR
112.04 SWAP
7 XDR
130.7 SWAP
8 XDR
149.3 SWAP
9 XDR
168.07 SWAP
10 XDR
186.7 SWAP
50 XDR
933.7 SWAP
100 XDR
1,867 SWAP
1,000 XDR
18,674 SWAP
5,000 XDR
93,372 SWAP
10,000 XDR
186,744 SWAP

The table above shows real-time Special Drawing Rights to Trustswap (XDR to SWAP) conversions across a range of amounts, from 1 XDR to 10,000 XDR. It serves as a quick reference to see how much Trustswap you can get at current rates based on commonly used XDR amounts. For custom values not listed, please use the converter above.

Trustswap Price and Market Statistics in Special Drawing Rights

Trustswap (SWAP) is currently trading at XDR 0.05 XDR , reflecting a -0.29% change over the past 24 hours. The 24-hour trading volume stands at XDR37.80K with a fully diluted market capitalization of XDR5.35M XDR. For a deeper look at live trends, charts, and historical data, visit our dedicated Trustswap Price page.

69.36M XDR

Circulation Supply

37.80K

24-Hour Trading Volume

5.35M XDR

Market Cap

-0.29%

Price Change (1D)

XDR 0.07759

24H High

XDR 0.07689

24H Low

The SWAP to XDR trend chart above shows the live price and historical movement of Trustswap against the British Pound. Tips: You can navigate between different timeframes, including 24 hours, 7 days, 30 days, and 90 days, and more. It helps users analyze short- and long-term trends, spot market patterns, and track Trustswap’s value fluctuations in XDR. This visual tool supports informed trading and investment decisions using real-time and historical price data. Check the current Trustswap price for more detailed live market data.

SWAP to XDR Conversion Summary

As of 2025-09-30 19:47:01 | 1 SWAP = 0.05 XDR | 1 XDR = 18.67 SWAP

Today, the exchange rate for 1 SWAP to XDR is 0.05 XDR.
Buying 5 SWAP will cost 0.27 XDR and 10 SWAP is valued at 0.54 XDR.
1 XDR can be traded for 18.67 SWAP.
50 XDR can be converted to 933.7 SWAP, excluding any platform or gas fees.
The conversion rate of 1 SWAP to XDR has changed by +9.55% in the last 7 days.
In the last 24 hours, the rate has fluctuated by -0.29%, reaching a high of 0.0538195379903063 XDR and a low of 0.05333398989656723 XDR.
One month ago, the value of 1 SWAP was 0.057537449108079744 XDR, which represents a -6.94% change in its current value.
In the last 90 days, SWAP has changed by -0.011535235426972466 XDR, resulting in a -17.73% change in its value.

All About Trustswap (SWAP)

Now that you have calculated the price of Trustswap (SWAP), you can learn more about Trustswap directly at MEXC. Learn about SWAP past, present, and future. Explore its highest ATH, how to buy Trustswap, trading pairs, and more.

SWAP to XDR Conversion Volatility and Price Trends

In the past 24 hours, Trustswap (SWAP) has fluctuated between 0.05333398989656723 XDR and 0.0538195379903063 XDR, reflecting short-term market volatility. Over the last 7 days, the price ranged from a low of 0.04859642778194173 XDR to a high of 0.055623002338479985 XDR. You can view detailed SWAP to XDR price movements and volatility data for the past 24 hours, 7 days, 30 days, and 90 days in the table below.

	Last 24 hours	Last 7 days	Last 30 days	Last 90 days
High	XDR 0.04	XDR 0.05	XDR 0.06	XDR 0.07
Low	XDR 0.04	XDR 0.04	XDR 0.04	XDR 0.04
Average	XDR 0.04	XDR 0.04	XDR 0.05	XDR 0.05
Volatility	+0.91%	+14.37%	+35.88%	+51.97%
Change	0.00%	+9.55%	-6.93%	-17.72%

Trustswap Price Forecast in XDR for 2026 and 2030

Trustswap’s price outlook is shaped by market demand, adoption trends, institutional involvement, and broader economic factors. Using a projected 5% annual growth rate, here are some potential SWAP to XDR forecasts for the coming years:

SWAP Price Prediction for 2026

By 2026, Trustswap could reach approximately XDR0.06 XDR, assuming consistent annual growth from the current price level.

SWAP Price Prediction for 2030

By 2030, SWAP may rise to around XDR0.07 XDR, following the same long-term growth model.

These estimates are hypothetical and intended as directional forecasts, not financial advice. For more insights, including short-term forecasts and long-term predictions up to 2040, visit our Trustswap Price Prediction page for detailed market outlooks and future scenarios.

SWAP Trading Pairs Available on MEXC

Spot

More Spot Trading Pairs

SWAP/USDT

Trade

The table above shows a list of SWAP Spot trading pairs, covering markets where Trustswap is directly exchanged with major cryptocurrencies such as USDT, USDC, and more. Spot trading allows users to buy or sell SWAP at current market prices without using leverage.

Futures

More Futures Trading Pairs

Explore SWAP Futures trading pairs from the most popular Perpetual Futures contracts that allow long and short positions. MEXC is a leading platform in crypto derivatives, offering up to 500x leverage, deep liquidity and a wide selection of Trustswap futures markets for strategic trading.

Learn How to Buy Trustswap

Looking to add Trustswap to your portfolio? Whether you are just getting started or looking to expand your holdings, MEXC makes it easy to buy crypto through credit card, bank transfer, peer-to-peer (P2P) markets, Spot trading, and various options.

Explore the full guide: How to Buy Trustswap › or Get started now ›

SWAP and XDR in USD Terms: Overview and Insights

Trustswap (SWAP) vs USD: Market Comparison

Trustswap Price Overview

Current Price (USD): $0.0772
7-Day Change: +9.55%
30-Day Trend: -6.94%

Why Do Crypto Prices Fluctuate?

Crypto markets are highly dynamic. Prices can move rapidly due to:

Market Sentiment: News, social media trends, or whale activity can trigger sharp moves.
Adoption & Utility: Updates to the network, usage growth, or partnerships can influence long-term value.
Macroeconomics: Inflation, interest rates, and the strength of the US dollar can affect crypto demand.
Regulatory Changes: Announcements from governments or financial authorities often move the market.

Why This Matters

If you are converting to or from SWAP, short-term price trends can impact how much you receive.

A rising price means your crypto is gaining value, which is good for sellers.
A falling price may offer a buying opportunity. However, it also carries risk.

USD: The Global Benchmark for Crypto Prices

Most cryptocurrencies, including SWAP, are priced in US dollars (USD) across global crypto exchanges, regardless of your local currency.

So whether you are converting to XDR, the USD price of SWAP remains the primary market benchmark.
[SWAP Price] [SWAP to USD]

Special Drawing Rights (XDR) vs USD: Market Snapshot

Exchange Rate Overview

Current Rate (XDR/USD): 1.4407332756079534
7-Day Change: +0.88%
30-Day Trend: +0.88%

Why Do Exchange Rates Fluctuate?

Exchange rates move due to supply and demand in the global market. Key drivers include:

Interest Rates: Central banks raising or lowering rates influence investor behavior.
Inflation: Lower inflation helps a currency hold its value.
Economic Indicators: Data like GDP growth, employment, and trade balance impact confidence.
Market Sentiment: News, policy changes, or political shifts can trigger rapid changes.

Why This Matters

Since SWAP is typically valued in USD, shifts in XDR vs USD affect the SWAP to XDR rate.

A stronger XDR means you will pay less to get the same amount of SWAP.
A weaker XDR means you will pay more, even if the crypto's USD price did not change.

Want to Take Advantage of the Current Rate?

Buy SWAP securely with XDR on our Buy Crypto channels.

[Buy SWAP Instantly Now]

What Influences the SWAP to XDR Exchange Rate?

The exchange rate between Trustswap (SWAP) and Special Drawing Rights (XDR) is influenced by a range of global and local factors. If you are interested to trade or invest in SWAP, understanding what drives this conversion can help you make more informed decisions.

1. Market Sentiment and News

Crypto markets are highly reactive to sentiment. Positive developments, such as major partnerships, increased adoption, or favorable media coverage-can drive up demand and increase the SWAP to XDR rate. On the flip side, negative press, security issues, or regulatory actions may result in price drops.

2. Government Regulation and Legal Clarity

The regulatory environment in both the cryptocurrency's key markets and XDR-issuing countries plays a major role. Supportive policies can increase confidence and adoption, pushing rates higher. On the other hand, restrictive or unclear regulations often introduce market uncertainty.

3. XDR Currency Strength and Local Economic Indicators

Traditional economic factors like interest rates, inflation, and GDP performance directly influence XDR's strength. When XDR weakens due to inflation or policy changes, investors may seek alternatives like SWAP, increasing demand and raising the exchange rate.

4. Blockchain and Technology Developments

For cryptocurrencies like Trustswap, improvements in technology such as network upgrades, scalability solutions, or ecosystem expansion-often lead to increased adoption and price growth. These changes can enhance investor confidence and influence exchange rates positively.

5. Global Financial Events and Market Trends

Macroeconomic trends such as global inflation fears, geopolitical tensions, or changes in interest rates by central banks can prompt a shift toward digital assets as a store of value. In uncertain times, demand for SWAP may rise, impacting its conversion to XDR.

Convert SWAP to XDR Instantly

Use our real-time SWAP to XDR converter to track the latest rates. Whether you are planning a trade or watching market trends, our tool offers up-to-the-minute pricing and historical charts to help you stay informed.

How to Convert SWAP to XDR?

Enter the Amount of SWAP
Start by entering how much SWAP you want to convert into XDR using our real-time converter. The system instantly calculates the value based on the latest market rate. You can also choose a different cryptocurrency or fiat currency if needed.
Check the Live SWAP to XDR Rate
See the most accurate and up-to-date SWAP to XDR exchange rate. To make smarter decisions, browse the rest of the page to learn what affects the conversion rate and explore more insights about SWAP and XDR.
Convert or Get Started on MEXC
Ready to add SWAP to your portfolio? Learn how to buy SWAP with our step-by-step beginner guide, or sign up on MEXC to start trading instantly. MEXC offers one of the largest selections of cryptocurrencies with competitive rates and low fees.

Frequently Asked Questions

How is the SWAP to XDR exchange rate calculated?
The SWAP to XDR exchange rate calculation is based on the current value of SWAP (often in USD or USDT), converted to XDR using institutional-grade FX rates. The rate reflects real-time market pricing pulled from deep global liquidity sources.
Why does the SWAP to XDR rate change so frequently?
SWAP to XDR rate changes so frequently because both Trustswap and Special Drawing Rights are constantly influenced by global news, supply/demand, and market activity. Thus, their prices can shift every few seconds, especially during periods of high volatility.
What's the difference between the displayed rate and what I actually receive when converting?
The displayed SWAP to XDR rate is real-time and reflects market conditions. However, actual conversion rates may vary slightly due to slippage, network delays, or platform spreads at the moment of execution.
Can the SWAP to XDR rate vary between exchanges?
Yes. Pricing differences can occur due to variations in trading volume, liquidity, regional demand, and fee structures across platforms.
Why might the SWAP to XDR rate be higher or lower today compared to yesterday?
Rates can change due to a range of factors. It includes macroeconomic news, investor sentiment, central bank announcements, inflation reports, or crypto-specific developments like protocol upgrades or ETF approvals.
Is now a good time to convert SWAP to XDR or should I wait?
There is no guaranteed “right” time. Check price trends, look at historical data, and consider both global economic factors and market sentiment to inform your decision.
What tools can help me time my SWAP to XDR conversion better?
Live charts, moving averages, volume trends, RSI, and market news all provide useful signals. Some users also set price alerts to act at key thresholds.
How can I understand the trend of SWAP against XDR over time?
You can understand the SWAP against XDR price trend by using the interactive chart on this page to compare historical pricing, spot trends, and identify past volatility zones.
Does news or regulation in the UK affect the SWAP to XDR rate?
Yes. Local regulation, inflation data, interest rate changes, or geopolitical events can strengthen or weaken XDR, impacting the conversion rate even if SWAP stays flat.
What crypto-specific events can influence the SWAP to XDR exchange rate?
Trustswap halvings, Ethereum upgrades, whale movements, ETF approvals, and exchange listings often drive price spikes or drops, which directly affect the SWAP to XDR rate.
Can I compare the SWAP to XDR rate with other currencies?
Yes. Our converter allows you to switch easily between other fiat currencies or cryptocurrencies to find the most favorable conversion rates.
How do I know if the SWAP to XDR rate is fair?
Simply check the rate against major market indexes or on multiple exchanges. Our converter pulls from real-time, aggregated data to ensure competitive pricing.
What is the best way to monitor the SWAP to XDR rate over the day?
Bookmark this page or the Trustswap price page, and use the live price chart to track intra-day movements and spot potential entry points.
Is the SWAP to XDR conversion rate affected by weekends or holidays?
Yes, crypto trades 24/7, but XDR markets and liquidity can slow on weekends or holidays. This could potentially widen spreads or reduce price stability.
Can I set a target SWAP to XDR price and convert when it hits?
While the converter doesn't execute trades, you can set alerts or use limit orders on MEXC's trading platform to automate execution based on price targets.
Where can I learn more about what influences Trustswap and the Special Drawing Rights?
You may browse through the page above for in-depth content on macro factors, market drivers, and historical performance insights for both Trustswap and the British Pound.
What is the difference between converting SWAP to XDR and trading it?
Converting is a 1:1 value check. It means that you are converting your XDR into SWAP of equal value. Meanwhile, trading involves buying/selling on the open market, often with more control (and risk) through tools like limit orders and leverage.
Is SWAP to XDR a common reference for crypto investors?
Most investors track SWAP prices in USD or stablecoins like USDT, as they are the global benchmarks. However, SWAP to XDR is useful for UK-based users who want to calculate real-world value, hedge against fiat changes, or plan regional cash-outs.
What happens to the SWAP to XDR rate during major economic events?
During inflation reports, rate hikes, or crises, fiat volatility increases, it may either weaken or strengthen XDR against crypto, depending on global investor response.
How does MEXC ensure accurate and competitive SWAP to XDR rates?
MEXC aggregates rates from deep global liquidity pools, applies low spreads, and updates pricing in real time to reflect live market conditions, ensuring fairness and transparency.

Trustswap News and Market Updates

How To Earn Crypto Cashback With Cold Wallet’s Every Transaction

The post How To Earn Crypto Cashback With Cold Wallet’s Every Transaction appeared on BitcoinEthereumNews.com. Crypto has long promised opportunity, but for most users, participation feels more like a penalty than a reward. Every swap, bridge, or simple transaction comes with fees that chip away at your balance. For newcomers, this becomes a barrier to entry, and for long-time users, it creates fatigue. Cold Wallet changes that equation by giving something back every time you act on-chain. Instead of paying fees into a void, you get rewarded with $CWT tokens that build your balance over time. With over $7.11 million already raised in its presale, currently at stage 18 and priced at $0.01058 per token, Cold Wallet is proving that a fairer system isn’t just possible, it’s already here. At launch, $CWT is projected to list at $0.3517, adding even more incentive for early adopters to get involved now. Cashback Built Into Every Action Cold Wallet introduces a simple but powerful concept: use the blockchain as usual, and you get cashback for it. Whether you’re paying gas fees, swapping between tokens, or bridging funds across networks, the wallet automatically rewards you with $CWT. There’s no staking contract to manage, no forms to fill out, and no hidden lock-ups to trap your funds. The system works in real time, making the experience seamless and effortless. Cashback rates are tied to your tier, and with higher holdings of $CWT, you can reclaim even more of your transaction costs, up to 100% of gas fees at the top tier. For everyday users, this means turning unavoidable expenses into an income stream. For power users, it transforms frequent activity into a compounding advantage, giving them a reason to engage more often without the usual frustration of draining fees. The Role of $CWT in the Ecosystem At the heart of Cold Wallet’s cashback model is the $CWT token. Far from…

2025/09/26

Aster ignited the whole audience, how will Hyperliquild respond?

Global Sustainable DEX Market Overview and Industry Changes The decentralized perpetual swap market is experiencing an unprecedented surge in growth and a reshaping of the competitive landscape. By September 2025, global perp DEX daily trading volume had exceeded $52 billion, a 530% increase from the beginning of the year, with cumulative monthly trading volume reaching $13 trillion. This growth is driven by breakthroughs in technological innovation, growing user demand for decentralized financial products, and regulatory pressure on centralized exchanges. The sector as a whole now accounts for approximately 26% of the crypto derivatives market, a substantial leap from the single-digit share in 2024. Perp DEX total transaction volume changes https://defillama.com/perps Rapid market differentiation is reshaping the competitive landscape. Traditional order book models (such as dYdX and Hyperliquid) dominate professional trading with precise price discovery and deep liquidity, while AMM models (such as GMX and Gains Network) attract retail users with instant liquidity and simplified operations. Emerging hybrid models (such as Jupiter Perps) attempt to combine the advantages of both, using a keeper system to achieve seamless transitions between order book and AMM in a high-speed environment. Data shows that the order book model is gaining market share. Hyperliquid, with its CLOB architecture, has processed $2.76 trillion in cumulative trading volume. The rise of Aster DEX and its market impact Aster, formed by the merger of APX Finance and Astherus, achieved a meteoric rise from zero to top in just a few weeks through a multi-chain aggregation strategy and the support of YZi Labs, particularly CZ. Its 1,650% gain on the first day of its TGE (Trading General Evolution) on September 17th, along with $371 million in trading volume and an influx of 330,000 new wallet addresses, fully demonstrated its strong market acquisition capabilities. Aster's technological innovations are primarily reflected in improved user experience. Its Simple mode offers up to 1001x leverage, far exceeding Hyperliquid's 40-50x. While risky, this approach is highly attractive to speculators seeking high returns. The hidden order feature draws on the concept of dark pools in traditional finance, effectively protecting large transactions from MEV attacks. The yield integration feature allows users to use interest-bearing assets like BNB as margin, earning a base yield of 5-7% while trading. This innovation maximizes the composability of DeFi. Aster's TVL surged 328% from $370 million on September 14th to $1.735 billion, with BNB Chain contributing 80% of this. Daily trading volume exceeded $20 billion multiple times, surpassing Hyperliquid to become the world's largest perpetual DEX, with 24-hour fee revenue reaching $7.12 million. More importantly, Aster amassed $19.383 billion in cumulative perpetual trading volume in just a few months. While still a step below Hyperliquid's $2.76 trillion, the growth rate was astonishing. Community discussions revealed a clear divergence in traders' preferences for the two platforms. Professional traders preferred Hyperliquid, believing its "single block confirmation" and deep liquidity were essential for professional trading. Meanwhile, cross-chain users and beginners preferred Aster, whose bridge-free multi-chain support and CEX-like user experience significantly lowered the barrier to entry. Hyperliquid: Technologically advanced but market share under pressure As a pioneer in the perpetual DEX space, Hyperliquid has redefined the possibilities of on-chain derivatives trading with its innovative HyperCore architecture. HyperCore achieves a processing capacity of 200,000 orders per second and a latency of 0.2 seconds, surpassing even many centralized exchanges. With cumulative perpetual swap volume of $2.765 trillion, current open interest of $133.5 billion, and a 24-hour trading volume of $15.6 billion, these figures fully demonstrate the success of its technical architecture and the trust of its users. However, Hyperliquid is facing a continued decline in market share. Its share of the perpetual DEX market has fallen from 71% in May 2025 and 80% in August to 38% today. This change is primarily due to the rapid rise of emerging competitors and the success of its multi-chain strategy. In particular, Hyperliquid has been repeatedly surpassed by Aster DEX in terms of daily trading volume and fee revenue, a change that was previously unimaginable. Perpdex trading volume statistics perpetualpulse.xyz Despite the challenges, Hyperliquid's advantages remain clear. It boasts the deepest liquidity, with spreads as low as 0.1-0.2 basis points for major assets like BTC/ETH; the most stable technical architecture, with single-block confirmations providing traders with unparalleled certainty; and the most mature ecosystem, with over 100 projects building comprehensive DeFi infrastructure on its platform. More importantly, its deflationary model, which allocates 99% of protocol revenue to buyback and burn HYPE tokens, has generated $20.1 billion in annualized revenue, providing strong support for its value proposition. From the perspective of user quality, Hyperliquid demonstrates higher user value. Among its 825,000 daily active addresses, 3.651 million are monthly active users, and the ratio of open interest to trading volume (OI/Volume) reaches 287%, significantly higher than the industry average. This metric suggests that Hyperliquid's users are more likely to engage in genuine risk hedging rather than short-term speculative trading. In contrast, Aster's user base is only 12%. Despite its higher daily trading volume, its user behavior is more inclined towards short-term arbitrage. Faced with competitive pressure, Hyperliquid is actively adjusting its strategy. The upcoming HIP-3 (Permissionless Perpetual Markets) will allow anyone to deploy custom perpetual contracts. This could lead to innovative products like RWA perpetuals and AI computing power futures, revitalizing the ecosystem. The launch of the USDH native stablecoin will further enhance its financial infrastructure. With an estimated $5.5 billion in funds under management and 95% of proceeds allocated for HYPE buybacks, this will significantly enhance its value proposition. In this fiercely competitive market, Hyperliquid's true moat lies not simply in its technology itself, but in the complete ecosystem built around its core protocol. From its humble beginnings as a perpetual trading platform to its current comprehensive DeFi ecosystem of over 100 projects, Hyperliquid has established a self-contained financial infrastructure. This ecosystem encompasses a full-stack solution, from infrastructure and DeFi protocols to the application layer, with each component contributing to the network's value accumulation and user engagement. It is against this backdrop that this article will delve into the core projects and innovative applications within the Hyperliquid ecosystem, exploring how these projects build sustainable competitive advantages for Hyperliquid amidst fierce market competition, and how they collectively shape the future of decentralized derivatives trading. In-depth analysis of Hyperliquid's core ecological projects 1. Kinetiq - Liquidity Staking Ecosystem Pillar (TVL: $1.757 billion) Kinetiq holds an unshakable position within the Hyperliquid ecosystem, with a TVL of $1.757 billion, representing approximately 78% of the ecosystem's total value, making it a central hub for capital flows. As the "Jito" of the ecosystem, Kinetiq has redefined validator delegation through its innovative StakeHub algorithm, achieving unprecedented efficiency and yield optimization. The core of the StakeHub algorithm lies in a sophisticated, multi-dimensional scoring system. This system scores over 100 active validators in real time, dynamically adjusting fund allocation strategies based on metrics such as reliability (40% weight), security (25% weight), economic performance (15% weight), governance participation (10% weight), and operational history (10% weight). This algorithm not only considers a validator's historical performance but also predicts its future stability. Using machine learning models, it continuously optimizes allocation weights to ensure that delegated funds always flow to the highest-quality validators. Kinetiq node operation status https://kinetiq.xyz/validators The protocol offers a rich and market-leading revenue structure. Base PoS rewards yield approximately 2.3% annualized returns, placing it at the top of the heap among similar LST projects. StakeHub optimizations provide an additional 0.2-0.5% enhanced return by preventing underperforming validators from participating. MEV revenue contributes approximately 1% annualized returns, derived from the Hyperliquid network's MEV capture mechanism. Even more compelling are integration rewards with other DeFi protocols, offering a variable 6-8% bonus, bringing total returns to 10-12%, a highly competitive level in the current DeFi landscape. Kinetiq offers a streamlined user experience. Users stake HYPE to earn kHYPE, enjoying a slight premium of 1:0.996. This premium reflects the market's added value for liquidity staking and confidence in the protocol's security. The unstaking mechanism incorporates a 7-day security delay and a 0.1% fee, providing users with a reasonable exit mechanism while ensuring network security. Kinetiq has seen explosive growth, tripling its TVL from $458 million in July to $1.81 billion today. This growth is primarily due to the integration of the Pendle protocol, which created additional liquidity demand and yield strategies for kHYPE through its PT/YT split mechanism. The upcoming launch of $KNTQ provides a crucial tool for decentralized governance and long-term value creation within the protocol. An estimated 30-50% of the supply will be distributed to the community via airdrops, with priority allocations given to points holders, early adopters, and kHYPE stakers. $KNTQ's core functions include voting on protocol upgrades, determining MEV routing policies, and curating the HIP-3 market. This decentralized governance will further enhance the protocol's decentralization and community engagement. How it works: Users stake HYPE on kinetiq.xyz to earn kHYPE, which is instantly minted and has a seven-day lock-up period. The protocol also offers a kPoints system, which distributes points weekly in preparation for the upcoming $KNTQ airdrop. Points are earned based on various metrics, including staked amount and holding duration. 2. Based - Mobile Super App and Ecosystem Portal Based, the highest-grossing Builder app on Hyperliquid, generated approximately $90,300 in 24-hour revenue, ranking first among all third-party apps. Its cumulative perpetual trading volume exceeded $16.699 billion, with a 24-hour perpetual trading volume of $321 million. It processes approximately 7% of Hyperliquiqui's total trading volume, a figure that fully reflects the high-net-worth nature and deep engagement of its user base. Its revenue model leverages Hyperliquid's Builder fee-sharing system, offering a maximum commission share of 0.1% on perpetual trading and 1% on spot trading. The majority of this revenue is returned to users in the form of commissions through an affiliate marketing program, creating a sustainable incentive structure that benefits users, the platform, and Based. With $2.22 million in 7-day revenue and $6.71 million in 30-day revenue, these metrics not only demonstrate the robustness of its business model but also highlight its key role as a revenue contributor within the Hyperliquiquid ecosystem. Based trading interface https://www.basedapp.io/ Based's economic design reflects a deep understanding of user behavior and innovative incentive mechanisms. $PUP, an XP-accumulating tool, completed its airdrop on August 22, 2025. The total supply is 100 million, with 5% allocated to early users and community contributors. $PUP's primary function is to increase users' XP acquisition efficiency, providing a 25-60% point multiplier, enabling holders to earn more rewards through activities like trading and spending. $BASED will be distributed based on users' total XP, with a snapshot date of September 20, 2025. Perpetual trading will contribute 0.06 XP for every $1 of notional trading volume, spot trading will contribute 0.30 XP for every $1 of trading volume (a 5x incentive), and Visa spending will contribute 4-6 points for every $1 spent (converted to XP at the TGE). This dual mechanism cleverly combines short-term incentives ($PUP bonus) and long-term governance ($BASED allocation). $PUP holders essentially gain the "leverage" of $BASED airdrops, further strengthening user loyalty and ecosystem stickiness. Within the community, $PUP has a circulating market capitalization of approximately $5 million, with a price stable at around $0.05, demonstrating robust demand as a utility. $BASED's projected supply is 1 billion, with a community allocation of 40%, expected to be fairly distributed to active users through the XP system. Interaction: Users can download the mobile app or visit the website through based.markets, register an account using their email address, and top up assets across multiple chains with one click. The trading interface, designed similarly to traditional financial applications, offers spot and perpetual trading capabilities. Users can also apply for a Visa debit card (existing users should note the November deactivation schedule) for fiat currency spending. The XP system displays points progress in real time, and $PUP holders can activate bonuses in their wallet to improve rewards efficiency. 3. Pendle - The Monetization Protocol Giant Pendle's successful deployment on the HyperEVM marks the maturity of the yield farming concept within the Hyperliquid ecosystem and represents a new level of sophistication and innovation in DeFi products. By separating interest-bearing assets like kHYPE into PT (principal) and YT (yield), the protocol provides investors with a precise tool for both fixed-income investment and yield speculation. In just a few months, Pendle's TVL on the HyperEVM has grown from zero to $12.3 billion, a 30-day increase of 76.27%. Pendle TVL distribution in various chains https://defillama.com/protocol/tvl/pendle The synergy between Pendle and Kinetiq is a key factor in its rapid success within the Hyperliquiquic ecosystem. This synergy is reflected not only in product complementarity but, more importantly, in the creation of a new value capture mechanism. By converting kHYPE into PT and YT, Pendle provides liquidity staking users with more diverse income strategies and creates a new avenue for earning points through Kinetiq's points system. Users holding YT-kHYPE receive the full returns of Kinetiq's points rewards without the risk of principal fluctuations. PT-kHYPE holders enjoy the certainty of a fixed income, which can be used to build a stable income strategy. Pendle's product portfolio continues to expand, demonstrating its strategic intent to deeply integrate with the Hyperliquid ecosystem. In addition to the mainstream kHYPE market, the protocol has also gradually supported the yield farming of ecosystem-based interest-bearing assets such as feUSD, hwHLP, and beHYPE. Each new asset adds new yield strategies and arbitrage opportunities, further boosting the activity and composability of the entire ecosystem. In particular, with the emergence of more LST and yield-generating assets, Pendle provides standardized yield-separation tools for these assets, becoming a crucial bridge connecting different protocols. Interaction: Users access the protocol through app.pendle.finance and select the Hyperliquid network. They can then split their holdings of interest-earning assets like kHYPE into PT/YT, or trade these yield products directly in the secondary market. The protocol provides intuitive yield curves and maturity information to help users make investment decisions. Pendle in HyperrEVM 4. HyperLend - Lending Infrastructure Core As the "credit bank" of the Hyperliquid ecosystem, HyperLend plays a crucial role in the entire DeFi infrastructure, providing core support for the ecosystem's liquidity cycle and capital efficiency. The protocol leverages the market-proven Aave V3 fork architecture, but with in-depth optimizations and innovations tailored to Hyperliquid's high-performance environment and unique asset characteristics. Its greatest technological breakthrough lies in the HyperLoop feature, an innovative mechanism that enables one-click leveraged circulation through flash loans, providing advanced users with unprecedented capital efficiency tools while maintaining operational simplicity. HyperLend's architectural design embodies a delicate balance between risk management and capital efficiency. The protocol innovatively utilizes a dual-pool architecture: a unified liquidity pool dedicated to efficient lending and borrowing of core assets such as HYPE, kHYPE, and USDC, significantly reducing transaction slippage and improving capital utilization through a shared liquidity mechanism; and a segregated risk pool dedicated to handling assets with higher volatility or risk, supporting fully customizable risk parameters to ensure that risk events involving a single asset do not impact the stability of the entire system. The technical implementation of the HyperLoop feature demonstrates the ultimate application of DeFi composability and a significant improvement in user experience. Users operate through a simple and intuitive interface, and the protocol automatically executes a complex sequence of atomic operations on the backend: first borrowing the target debt asset through a flash loan mechanism, then exchanging it for the yield asset the user wishes to hold through a built-in DEX aggregator, supplying this asset as collateral to the corresponding pool of the protocol, then borrowing more debt assets based on the newly added collateral, and finally repaying the initial flash loan. This entire complex sequence of operations is completed atomically within a single block, allowing users to easily achieve 3-5x leverage without the complexity, time cost, and gas fees of multiple manual operations. HyperLoop's one-click revolving loan interface Judging from its asset composition and operational efficiency, HyperLend demonstrates healthy and stable development and good market adaptability. Its total TVL of $524 million is primarily comprised of wstHYPE ($254 million, 48%) and native HYPE ($206 million, 39%). This asset distribution clearly reflects the importance of LST within the ecosystem and the strong demand for liquidity. With a current total borrowing volume of $267 million, the overall utilization rate has reached 48%, a healthy operating range for DeFi lending protocols. This ensures sufficient liquidity to meet withdrawal needs while optimizing capital utilization to achieve reasonable returns. HyperLend's protocol scale HyperLend's revenue model demonstrates clear and sustainable business value creation. The protocol generates annualized revenue of $15.89 million, with diversified and stable revenue streams primarily comprised of lending interest rate spreads, clearing fees, and flash loan fees. Of particular note is its flash loan fee, set at 0.04%, significantly lower than Aave's standard 0.09%. This competitive pricing strategy maintains market competitiveness while providing users with better cost efficiency, helping to attract more high-frequency trading and arbitrage activities. The protocol also incorporates a robust points system, which has been operating for 22 consecutive weeks, accumulating points in preparation for the upcoming $HPL airdrop, with 3.5% of the supply reserved for the Aave DAO. Interaction: Users connect their wallets via hyperlend.finance, which supports deposits to earn interest, borrowing, and HyperLoop one-click leverage. The interface is simple and intuitive, providing real-time interest rate information and risk indicators to help users make informed lending decisions. 5. Hyperbeat - DeFi Super App (TVL: $387 million) Hyperbeat positions itself as a one-stop DeFi hub, offering a comprehensive solution encompassing diverse services such as staking, lending, and yield optimization. The protocol recently completed a $5.2 million seed round led by Electric Capital, with participation from renowned institutions such as Coinbase Ventures, Chapter One, and DCF God. This funding round demonstrates institutional investor recognition of its business model and technical team. Hyperbeat's product matrix embodies a deep ecosystem integration philosophy. The beHYPE liquidity staking module provides a scalable security model and supports governance participation. The Morphobeat lending market, optimized for interest-bearing assets like LST and based on the Morpho protocol, also leverages a Meta-Yield strategy to automate yield optimization and diversify risk across multiple protocols. Its cross-chain integration capabilities enable deployment on multiple chains, including Arbitrum. It currently holds $28.92 million in TVL on Arbitrum, expanding its user base and assets under management. Hyperbeat's technological innovation lies primarily in its automated yield optimization strategy. The protocol uses smart contracts to automatically monitor yield fluctuations across various DeFi protocols and dynamically adjust capital allocation to achieve optimal returns. This "set-and-forget" user experience significantly lowers the technical barrier to entry for DeFi, making it particularly suitable for users who desire DeFi returns but prefer a more conservative approach. The Meta-Yield strategy also incorporates a risk hedging mechanism, mitigating the risk of a single protocol by diversifying investments across multiple protocols while leveraging arbitrage opportunities to enhance overall returns. Interaction: Users access a multi-product dashboard at hyperbeat.org, offering one-stop DeFi operations such as staking, lending, and yield farming. The interface design prioritizes user experience, providing yield estimates and risk warnings. The Hearts points system is nearing its end, with less than 12% remaining for distribution. A total of 51 million Hearts points will be allocated for the upcoming $BEAT airdrop. This points system encourages users to remain active across multiple product modules, earning points through multi-faceted activities such as staking, lending, and yield farming. 6. USDH - Native Stablecoin Infrastructure USDH, the upcoming native stablecoin of Hyperliquid, carries the important mission of improving the ecosystem's financial infrastructure. Native Markets won the community vote on September 14, 2025, securing the right to issue USDH. The launch of USDH will fill the gap in the Hyperliquid ecosystem's native stablecoin offerings, providing a more complete and autonomous financial infrastructure for the entire ecosystem. USDH's technical architecture reflects a deep consideration of regulatory compliance and scalability. The stablecoin will be backed by U.S. Treasury bonds through traditional financial institutions such as Stripe Bridge and BlackRock, ensuring adequate asset collateralization and regulatory compliance. Importantly, USDH will be dually compatible with HyperEVM ERC-20 and HyperCore HIP-1. This design allows the stablecoin to flow seamlessly throughout the Hyperliquid ecosystem, serving as collateral and liquidity in DeFi protocols and as margin in perpetual swaps, achieving true ecosystem-native integration. USDH is expected to launch in Q4 2025, with specific progress dependent on the completion of technical development and regulatory applications. As a critical infrastructure for the ecosystem, the successful launch of USDH will have a profound impact on the entire Hyperliquid ecosystem, not only improving user experience and capital efficiency but also, more importantly, strengthening the ecosystem's independence and sustainability. USDH's inherent advantages and revenue-sharing mechanism will provide it with unique competitive advantages, particularly in competition with external stablecoins like USDC. Ecosystem Data Panorama and Development Outlook The Hyperliquid ecosystem demonstrates strong growth momentum and healthy development. Its total TVL reached $6.535 billion, with $2.37 billion locked in DeFi protocols and $4.165 billion in perpetual swaps. Its 30-day perpetual swap volume reached $651.6 billion. User data demonstrates high-quality features, including 308,000 monthly active users, an average holding size of $162,000, and a 30-day retention rate of 67%, significantly exceeding similar platforms. The ecosystem's greatest strength lies in the deep synergy between protocols. The integration of Kinetiq and Pendle, the capital efficiency amplification of HyperLend, the internal circulation of Felix feUSD, and the mobile traffic driven by Based have created a powerful network effect. However, the decline in market share cannot be ignored. Hyperliquid's share of the perpetual DEX market fell from 48.2% in August to 38.1% in September, primarily due to losses to competitors adopting multi-chain strategies and incentive mechanisms. The launch of HIP-3 (Permissionless Perpetual Markets) will be a significant turning point, allowing anyone to deploy custom perpetual contracts and expected to usher in innovative products such as RWA perpetuals and AI computing power futures. The USDH native stablecoin is expected to manage $5.5 billion in funds, with 95% of its returns used for HYPE buybacks, resulting in an annualized return of $150-220 million, significantly enhancing its value proposition. HYPE's value capture mechanism is well-designed: 99% of protocol revenue is used for buyback and destruction, with the current annualized buyback rate at approximately 8.7%. However, the linear release starting on November 29th will increase supply by 71%, requiring strong fundamental performance to offset supply pressure. The Hyperliquid ecosystem stands at a critical juncture. Its success will depend on the integration of technological innovation and user experience, the balance between ecosystem openness and quality control, and the coordination of technological focus and diverse needs. The launch of HIP-3 and USDH will be a crucial test of its adaptability. For investors, the ecosystem offers a wealth of investment opportunities, from the stable returns of the LST protocol to high-risk early-stage projects. The key is to understand the business models and risk factors of each protocol and develop a sound strategy based on your specific circumstances. Hyperliquid's value lies not only in the success of individual protocols, but also in the formation of network effects across the entire ecosystem. In an era fraught with both opportunities and challenges, its ability to continuously innovate and create value for users will determine its long-term prospects.

2025/09/27

Multiple Network Initiates MTP Token Swap After Security Breach

The post Multiple Network Initiates MTP Token Swap After Security Breach appeared on BitcoinEthereumNews.com. Key Points: Multiple Network initiates a comprehensive MTP token swap after a security breach. Full token swap and systematic buyback announced on September 29th. No impact on major cryptocurrencies like ETH or BTC reported. On September 29, DePIN project Multiple Network reported a security breach involving an unauthorized third-party sell-off of MTP tokens, prompting an immediate token swap on the BSC platform. The incident underscores the ongoing vulnerabilities within crypto markets, highlighting the need for robust security measures to maintain trust and stability among investors and stakeholders. MTP Token Breach Prompts Swap and Buyback Plan Multiple Network announced on September 29th that its original MTP token supply was compromised. A third-party market maker’s actions led to the unauthorized sell-off of tokens. “The original MTP token supply was contaminated and its security compromised due to unauthorized sell-off by a third-party market maker. To protect community interests and system stability, we will implement a full token swap and start a systematic buyback.” To ensure system stability and protect community interests, the project will execute a complete token swap alongside a buyback plan. Exchanges have been alerted, resulting in the suspension of MTP-related activities for snapshots. New tokens will be automatically distributed at a 1:1 ratio for both exchange and on-chain users. Market reactions remained measured, with no significant statements from key figures in the industry as of the latest reports. The general community sentiment favors this decisive response, though some users express concern over transparency regarding project leadership. Analyzing Historical Token Security Responses Did you know? Token contamination and forced replacements are not unprecedented. Similar events, like Polygon’s vulnerability response in 2021, emphasized exchange coordination and community assurance measures. According to CoinMarketCap, Multiple Network’s MTP token faces significant market fluctuations. As of the last update, the token price stands at $0.00, with…

2025/09/29

Aster’s transaction fees exceeded $25 million in the past 24 hours, ranking first among perpetual DEXs

PANews reported on September 29th that, according to The Block, the decentralized perpetual swap exchange Aster currently tops DefiLlama's fee revenue rankings, surpassing Hyperliquid and other perpetual swap decentralized exchanges (DEXs). According to DefiLlama data, Aster generated over $25 million in fee revenue over the past 24 hours, leading other protocols. Its competitor Hyperliquid generated $3.17 million in fees over the past day, ranking fifth. The data also shows that Aster's spot trading volume over the past day was $199.96 million, ranking 13th among perpetual swap decentralized exchanges. In terms of trading volume, Hyperliquid surpassed Aster with $477.3 million. Aster also does not appear in the data aggregation platform's daily revenue rankings.

2025/09/29

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