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TradeXYZ buys HYPE with perpetual futures fee income for first time

TradeXYZ buys HYPE with perpetual futures fee income for first time

TradeXYZ moved $3.25 million from its perpetuals fee wallet to a spot account and began TWAP buying about 59,000 HYPE after an earlier 2,000-token purchase tied to a HIP-3 Ticker.

USDC
HYPE

Fact Check
All specific figures in the claim (2,000 HYPE, ~$108,000, first HIP-3 revenue purchase, acquiring a new Ticker, earlier Unit fee conversions) are directly confirmed by the originating @HyperliquidNews X post and independently reported by BlockBeats, Odaily, and PANews. There is no conflicting evidence. The claim is consistent across all relevant sources.
Summary

TradeXYZ, a perpetual DEX on Hyperliquid, has for the first time used revenue from perpetual futures trading fees to buy HYPE, extending a shift beyond earlier HIP-3 Ticker purchases that were funded by spot fee income. Monitoring cited in the new report said the platform transferred $3.25 million from its perpetuals fee wallet to a spot account and then began buying roughly 59,000 HYPE worth about $3 million through a TWAP strategy. The update follows an Aug. 5 transfer of 250,000 USDC from the same fee wallet, of which about $110,000 was used to buy 2,000 HYPE that were later used to acquire a HIP-3 Ticker. The report said this was TradeXYZ's first use of perpetual futures fee income to buy HYPE; previously, HYPE used to purchase new HIP-3 Tickers had been funded by spot trading fee revenue.

Terms & Concepts
  • HIP-3 Ticker: A Hyperliquid ecosystem designation referenced in the report that can be acquired using HYPE.
  • TWAP: Time-weighted average price, an execution strategy that splits orders over time to reduce market impact.
  • Perpetual futures: Crypto derivatives without expiry that can generate trading fee income for exchanges or protocols.