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HYPE
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This is a great point. A strong product in the wrong ecosystem will probably fail.
Tbf on Arbitrum we had a different product: an options AMM. A beautiful challenge to build, but organic demand wasn’t there and it was hard to get PMF.
We took that experience, challenged our assumptions, and built Rysk V12 focused on the real bottlenecks: demand and liquidity. The goal was to make options accessible.
Once announced, the HyperEVM community pushed hard for it, understood the need, gave feedback, and shared ideas. Other HL teams reached out, we built relationships.
Basically we found community market fit before being even live, which laid the foundation for a successful launch.
That’s what makes the Hyperliquid community special.

Tobias Reisner
Your product getting no traction on one chain doesn't necessarily mean you got a bad product. Maybe you are just on the wrong chain.
@ryskfinance was live on @arbitrum since 2023 and peaked at $3.8m TVL on January 18, 2024.
They almost gave up but decided to launch on HyperEVM on July 11, 2025.
Since then they grew to $9m TVL.
It took them 2 years to go to $3m TVL on Arbitrum.
It took them 2 months to go to $9m TVL on HyperEVM.
Yes, we had a bear market in between and many other factors but it still shows that you can succeed eventually as long as you keep pushing.
I am a fan of the team because they took the opportunity once they understood what kind of Liquidity CoreWriter unlocks which is especially powerful for Options.
Happy for their success and it's just the beginning.


💰An address has become the largest loser on Hyperliquid, with cumulative losses exceeding $40 million in recent months.
According to Lookonchain @lookonchain monitoring, address #0xa523 has accumulated losses of over $40 million in less than a month, surpassing @AguilaTrades, @qwatio, and @JamesWynnReal, making it the largest loser on the Hyperliquid @HyperliquidX platform. Previously, it sold 886,287 $HYPE at a loss of $39.66 million; had it held, it would now have an unrealized gain of nearly $9 million. Subsequently, it incurred losses of over $35 million on $ETH long positions, and after switching to short positions, it lost another $614,000. Currently, it still has an unrealized loss of about $2.33 million on $BTC long positions.

Lookonchain
Whale 0xa523 lost over $40M in less than a month, surpassing @AguilaTrades, @qwatio, and @JamesWynnReal to become the biggest loser on #Hyperliquid!
His list of losses is staggering:
He previously sold 886,287 $HYPE($39.66M) at a loss. If he had held, it would be an unrealized gain of nearly $9M today.
He then lost over $35M on an $ETH long.
He switched to an $ETH short, only to lose another $614K.
He is currently down another $2.33M on his $BTC short.

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About Hyperliquid (HYPE)
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Latest news about Hyperliquid (HYPE)

Lion Group to swap all Solana and Sui tokens for Hyperliquid as firm reallocates crypto treasury
Lion Group Holding (LGHL) plans to convert its Solana (SOL) and Sui (SUI) holdings to...
Sep 9, 2025|Crypto Briefing

Lion Group Plans to Swap SOL, SUI Holdings for HYPE
The company began acquiring HYPE tokens in late June, having previously announced its Hyperliquid treasury initiative
Sep 9, 2025|CoinDesk

Hyperliquid Faces Community Pushback Against Stripe-Linked USDH Proposal
Paxos, Frax and Agora are competing for Hyperliquid’s USDH stablecoin contract as MoonPay backs Agora CEO Nick van Eck’s coalition and concerns mount over Stripe’s potential conflicts of interest.
Sep 8, 2025|CoinDesk
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