Valantis, a decentralized exchange (DEX) Protocol, has acquired a staked hype (Sthype)The second largest liquid token token (LST) In hyperlichid. The financial terms of the agreement were not revealed.
Sthype, which was launched as the first LST in Hypevm, currently has about $ 180 million in total value blocked (TVL)According to the Sthype website.
After the agreement, the operations, the development and scale of Sthype will be administered by Valantis Labs. Addison Spiegel, founder of Thunderhead, the team behind Sthype, will serve as a Valantis advisor.
The commitment to liquid has become a central pillar within the hyperlycide ecosystem. According to defillama, the liquid reference represents more than half of the $ 2.26 billion Hyperliquid L1 in Defi TVL
The acquisition is based on the previous launch of Valantis of specific Dex groups of LST for Sthype and Hhype, which together have attracted almost $ 70 million on TVL and processed more than $ 500 million in negotiation volume.
Valantis said in a press release that he plans to expand Sthype’s integrations with his Dex and Hypercore, with the aim of establishing a broader liquidity network for hyperliquid.
Hyperevm, which was launched in February, has grown to more than $ 2 billion in TVL in almost 100 protocols.
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