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By Oliver Knight|Edited by Parikshit Mishra
Aug 19, 2025, 2:00 p.m.
- Valantis has acquired stHYPE, the second-largest liquid staking token (LST) on Hyperliquid, with stHYPE holding about $180 million in TVL.
- stHYPE’s operations will now be run by Valantis Labs, with Thunderhead founder Addison Spiegel joining as an advisor; the move builds on Valantis’ existing LST-focused DEX pools, which have already processed over
- $500 million in trading volume.Liquid staking drives Hyperliquid’s growth, accounting for more than half of the network’s $2.26 billion TVL, as HyperEVM expands to nearly 100 active protocols since its February launch.
Valantis, a decentralized exchange (DEX) protocol, has acquired Staked Hype (stHYPE), the second-largest liquid staking token (LST) on Hyperliquid. Financial terms of the deal were not disclosed.
stHYPE, which launched as the first LST on HyperEVM, currently holds about $180 million in total value locked (TVL), according to the stHYPE website.
STORY CONTINUES BELOW
Following the deal, stHYPE’s operations, development, and scaling will be managed by Valantis Labs. Addison Spiegel, founder of Thunderhead, the team behind stHYPE, will serve as an advisor to Valantis.
Liquid staking has become a central pillar within Hyperliquid’s ecosystem. According to DeFiLlama, liquid staking accounts for more than half of Hyperliquid L1’s $2.26 billion in DeFi TVL
The acquisition builds on Valantis’ earlier launch of LST-specific DEX pools for both stHYPE and hHYPE, which together have attracted nearly $70 million in TVL and processed more than $500 million in trading volume.
Valantis said in a press release it plans to expand stHYPE’s integrations with its DEX and HyperCore, with the goal of establishing a broader liquidity network for Hyperliquid.
HyperEVM, which went live in February, has grown to more than $2 billion in TVL across nearly 100 protocols.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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