Hyperliquid is entering Airdrop Season 2, offering plenty of opportunities for early users. While not officially confirmed by the Hyperliquid team, NFTevening suggests that Season 2 is highly likely to happen.
What’s the best part? This time, you don’t need to be an experienced trader. Simply interacting with the new Hyperliquid Layer 1 ecosystem – HyperEVM – could be enough to earn points and qualify for potential rewards.
Why You Should Join Hyperliquid Season 2
HYPE Season 2 presents a rare opportunity for early participants to tap into a rapidly growing ecosystem with high reward potential.
With 42% of the total token supply still allocated for future airdrops, there’s a significant pool of incentives yet to be distributed. What makes the scenario even more compelling is that the current total value locked (TVL) on Hyperliquid remains modest at around $265 million, indicating low competition and a better chance for early users to stand out and earn meaningful rewards.
Source: DefiLlama
Unlike many airdrop campaigns that require intense trading activity, Hyperliquid’s Season 2 is more accessible—you don’t need to be a professional trader. Simply interacting with its Layer 1 protocols and using core ecosystem features could be enough to qualify for rewards. Additionally, engaging with protocols on HyperEVM may unlock multiple layers of airdrops, giving you exposure not just to Hyperliquid’s rewards but also to partner protocols building on its infrastructure.
Given the strong track record of past airdrops and the clear strategic shift toward incentivizing on-chain participation, Hyperliquid Season 2 is shaping up to be one of the most promising opportunities in the current cycle—especially for those who act early.
Guide to Hyperliquid Season 2
Prepare Your Funds and Hyperliquid Account
- You’ll need USDC on Arbitrum or a Hyperliquid account.
- Create your account
- Deposit USDC using the “Deposit” button button on the top right. Then, click “enable Trading” button and buy $HYPE in the Spots market.
Source: Hyperliquid Webstie
- Transfer a portion of your $HYPE to HyperEVM using the “Transfer to EVM” option.
Source: Hyperliquid Website
Add Hyperliquid Network to Your Web3 Wallet
Configure your wallet (such as Rabby or MetaMask) using the following:
- Chain ID: 999
- Network Name: Hyperliquid
- RPC URL: https://rpc.hyperliquid.xyz/evm
- Currency Symbol: HYPE
Important: Do not transfer all of your $HYPE to the EVM. Keep a portion in the native HL app to stake and earn around 2.2% APR. You can also stake via ValiDAO for additional airdrop opportunities.
Explore the HyperEVM Ecosystem
To improve your on-chain activity and increase your chances of qualifying for rewards, consider engaging with the following protocols:
Source: Bitget
Liquid Staking
- stakedhype: Offers stHYPE — a liquid staking token usable across DeFi.
Source: X
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- LoopedHYPE: Offers loopedHYPE, an auto-looping strategy to maximize HYPE yield (3x–15x leverage). Comes with a points campaign.
Deposits for LHYPE Phase-2 are live ♾️https://t.co/k0GDZgckLT
Key info for Phase-2:
Deposit min: No minimum
Deposit max: 69,000 HYPE
Initial cap: 2M HYPEEveryone is eligible for the Phase-2 Early Adopter program to earn a share of 3% of total token supply.
All wallets that… pic.twitter.com/mggcZfv4dr
— loopedHYPE (@Looped_HYPE) March 26, 2025
- Kinetiq: A promising competitor expected to launch soon.
Source: Kinetig
Lending Marketplace
- HypurrFi: Lending/borrowing platform using HYPE, stHYPE, and USDXL. Features a points incentive program.
Source: Hypurrfi
- HyperLend: A secure AAVE fork. HYPE deposit caps fill quickly, but higher caps are expected soon.
Source: Hyperlend
Stablecoin Protocols
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- Keiko Finance: Issues the KEI stablecoin with dynamic collateral ratios and liquidation mechanisms. Includes a Stability Pool.
𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗶𝗻𝗴: 𝗞𝗲𝗶𝗸𝗼 𝗣𝗼𝗶𝗻𝘁𝘀 𝗣𝗿𝗼𝗴𝗿𝗮𝗺
We are delighted to announce the launch of the Keiko Points Program—a initiative designed to reward both our longstanding supporters and new members of the Keiko community.
Details below 🧵👇 pic.twitter.com/ZQgs35IMFr
— Keiko Finance (@KeikoFinance) March 1, 2025
- Felix: Launching soon. Will issue the feUSD stablecoin. Highly anticipated by the community.
Decentralized Exchanges (DEXs)
- Kittenswap: The largest DEX on HyperEVM, following the ve(3,3) model. Currently running a points campaign.
! Note: Offers an NFT collection, MechaCats, which provides bonus points and will receive 3% of the veKITTEN supply at TGE.
Source: Kittenswap
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- HyperSwap: A Uniswap v3-style DEX with concentrated liquidity and customizable fee tiers. Offers attractive APRs and points.
HyperSwap Beta is now live on the HyperEVM mainnet!https://t.co/yKuNd8rqec pic.twitter.com/9Xkbbo1CK7
— HyperSwap (@HyperSwapX) February 18, 2025
Bonus Tips to Maximize Points
Here are some tips from NFTevening to help you optimize your spending while maximizing your rewards:
- Prioritize staking $HYPE and interacting with HyperEVM — these are the newest features and likely to yield the most points.
- Leverage stHYPE and LHYPE in DeFi strategies to earn more rewards.
- Mint stablecoins (KEI, and later feUSD) and use them for LP or DEX activities to earn extra points.
- Consider owning a MechaCat NFT if you’re actively farming on Kittenswap.
- Avoid excessive trading on Spot or Perps — just enough to create on-chain activity.
Conclusion
Hyperliquid Season 2 presents a major opportunity for DeFi users and airdrop hunters alike. With low TVL and a rapidly expanding ecosystem, getting in early and engaging with HyperEVM protocols could result in significant rewards.
Learn More: What is Hyperliquid (HYPE) and How Does It Work?
Whether you’re new to the Hyperliquid ecosystem or missed Season 1, now is a great time to start participating in what could be one of the biggest airdrop campaigns of this cycle.
