A certain wallet has accumulated approximately $4.955 million in referral rewards on Hyperliquid.
Original headline某钱包在 Hyperliquid 累计获得约 495.5 万美元推荐奖励
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A single wallet has earned approximately $4.955 million in referral rewards on the Hyperliquid perpetuals exchange by referring 81,741 users, according to OnchainLens data cited by TechFlow on November 11. The bulk of the payout, about $4.94 million, came in USDC, while USDe, USDT0 and USDH rewards combined for roughly $14,200. The concentration underscores how aggressively Hyperliquid's referral program has driven user acquisition and how lucrative top-tier distribution can be for early promoters of the decentralized derivatives venue. It also highlights Hyperliquid's multi-stablecoin reward mix, with USDC dominating over newer assets such as USDe and USDH. What to watch next is whether the referred cohort converts into sustained trading volume and fee generation, and whether other wallets close the gap as Hyperliquid's incentive programs mature.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
Hyperliquid (HYPE), USDC, OnchainLens, USDT0, USDe, USDH
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