Hyperliquid Emerges as Premier Airdrop Hub with USDH as Key Points Farming Mechanism
DeFi's latest gold rush kicks into high gear as Hyperliquid positions itself as the go-to destination for airdrop hunters.
USDH takes center stage as the primary vehicle for accumulating those precious points—because nothing says 'decentralized' like gamified reward chasing.
The platform's strategy turns stablecoin farming into a strategic play for future token distributions, creating a self-reinforcing ecosystem of liquidity and speculation.
While traditional finance still debates blockchain adoption, degens are busy printing digital coupons for the next big drop—proving once again that crypto moves faster than your average bank's IT department.
Native Markets is still the leader in validator voting power, and its plan to boost airdrops on Hyperliquid may be realized after the end of the vote. | Source: USDH Tracker
One of the expectations was that Native Markets, the platform’s own team, would not only create USDH but also build a whole new ecosystem of incentives. The community is already counting on the potential airdrops, which will reach one of the most active crypto communities and many high-profile whales.
Hyperliquid has been growing steadily, with its perpetual futures volumes reaching 12.2% of the activity on Binance. The chain carries 672,034 users, with over 1,500 new users daily flowing in regularly. All changes and perks may boost Hyperliquid volumes to a new range. As open interest recovered above $13.3B, Hyperliquid is once again in the spotlight.
The native HYPE token also rallied, recently breaking above $57. The asset traded at $55.56, with more hikes expected, as users and whales accumulated HYPE and prepared to hold for the long term.
USDH activity may be used for airdrop incentives
The community expects that USDH activity may be used as a farming mechanism, with new tokenized incentives.
As Native Markets wins the USDH ticker prepare for:
– New Native Markets token airdrop farm
– Vampire attack on USDC/USDT
Why? Because NM proposed:
– 50% of yield goes to HYPE buybacks.
– 50% goes to ecosystem growth.
That second half is basically a new HL airdrop farm. Who… pic.twitter.com/Y59qvRZKyH
— Ignas | DeFi (@DefiIgnas) September 12, 2025
A second HYPE airdrop is also seen as a possibility. The Hyperliquid ecosystem currently has an extremely limited list of tokens, as most of the focus was on HYPE and on trading BTC, ETH, and SOL, as well as smaller, riskier tokens.
The Hyperliquid blockchain carries only around $2.7B in natively minted tokens, including wrapped assets. PURR remains the only meme token, specifically created for the Hyperliquid community.
Potentially, up to 29 new projects are developing their tokenomics and eventual airdrops, preparing to turn Hyperliquid into a hub for additional DeFi activities. The airdrops may invite whales, while also boosting the participation of retail traders.
HYPE and UNIT are considered the most in-demand assets, with tickers ranging from elite to speculative or meme-based.
Circle won’t give up on USDC on Hyperliquid
Circle, the issuer of USDC, aims to retain its assets on the Hyperliquid ecosystem. On-chain data shows a wallet linked to Circle is also highly active on the Hyperliquid ecosystem.
The wallet injected $4.6M to acquire 80K HYPE tokens using the Hyperliquid spot market. Circle also experimented with mints and burns on the native Hyperliquid network, suggesting the company may be looking for a way to launch native, not bridged USDC. If Hyperliquid chooses another main stablecoin, Circle’s role may diminish, sending the bridged USDC back into the ecosystem.
Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.
