Valentis, a decentralized exchange (Dex) Protocol, stacked hyp acquired (Sthype)Second largest liquid stacking token (LST) On hyperlicid. Financial terms of the deal were not disclosed.
Stiype, which was currently launched as LST on Hyperevm, is currently about $ 180 million in total value (TVL)As Stipe website,
After the deal, the operation, development and scaling of sthype will be managed by Valentis Labs. Edison Speigel, the founder of Thunderhead, the team behind the stipe, will serve as the advisor to Valentis.
Liquid stacking has become a central column within the ecosystem of hyperlicid. As DefilamaHyperlicid L1 at DEFI TVL accounts for more than half of $ 2.26 billion
The acquisition has built the first Valentis launch of the LST-specific Dex pool for both Sthype and Hhype, which has attracted about $ 70 million in TVL simultaneously and processed more than $ 500 million into the trading volume.
Valentis said in a press release that it is planning to expand the integration of the stipe with its dex and hypercore, with the target of setting up a broad liquidity network for hyperlicids.
Hyperevam, live in February, has exceeded $ 2 billion in TVL in about 100 protocols.
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