Hyperliquid Welcomes Based Streams, A New Era of On-Chain Live Trading

• Based Streams launches on Hyperliquid, letting users host live trading sessions with interactive on-chain features and direct viewer tipping.
• Viewers can earn rewards in “Based Gold” while engaging with trading content, marking a new blend of social media and DeFi.

The Based Streams platform has officially launched on the Hyperliquid network, offering a unique concept that combines live streaming and on-chain trading activities.

Users can stream their transactions in real time, interact with their audience, and showcase on-chain action without relying on traditional platforms.

Furthermore, viewers can also tip streamers directly using Hypercore tokens through the Hypercore protocol.

Additionally, there are “Based Gold” rewards awarded simply for watching. This feature positions Based Streams as a service attempting to open new avenues for social interaction and digital financial activity.

At the same time, this launch solidifies Hyperliquid’s position in the crypto derivatives trading ecosystem. In early October, the CNF reported that Hyperliquid still dominated the Open Interest market with 62%.

This figure demonstrates strong user loyalty despite a decline in volume share on Perp DEX. This dominance doesn’t just come by accident, as Hyperliquid is also expanding its reach through HyperEVM, the development of the USDH stablecoin, and HIP-3, which are considered to strengthen long-term growth opportunities.

Ethena’s Expanding Role in the Hyperliquid Ecosystem

Based Streams has received direct support from Ethena Labs, a company that is also aggressively expanding its presence on the Hyperliquid network. Some time ago, Ethena was known to have submitted a proposal to become the issuer of the USDH stablecoin, with a commitment to distribute a significant portion of reserve revenue to the community.

Furthermore, Ethena partnered with Liminal to launch a new stablecoin backed by BTC, ETH, and SOL, while locking 1 million HYPE tokens as collateral. So, beyond focusing on financial innovation, they are now also promoting social integration through their streaming platform.

Furthermore, the emergence of Based Streams opens the possibility for traders to transparently showcase their strategies while still monetizing their content through on-chain tips.

However, there are challenges to overcome. For example, the number of active users is crucial for a meaningful tipping and reward system. Furthermore, transaction fees and incentive design need to be maintained so as not to harm the ecosystem. These challenges are natural, as any new model takes time to find its balance.

On the other hand, a crypto pundit considers Hyperliquid to remain the most promising DEX for investment, especially with the various breakthroughs it has prepared.

This view aligns with Hyperliquid’s expansion trend, which focuses not only on derivatives trading but also on various sectors, from stablecoins and specialized EVMs to social projects like Based Streams. With this combination, the platform appears to be striving to maintain momentum and stay ahead of its competitors.

Welcoming a New Phase of Crypto Interaction

The arrival of Based Streams can be considered an attempt to combine the world of streaming with blockchain transparency. Viewers not only watch but also participate directly through tips and rewards connected on-chain.

While previously streaming was more synonymous with entertainment or gaming, now a new space has emerged where financial activity becomes a public spectacle. It will certainly be interesting to see whether traders will truly feel comfortable disclosing their strategies publicly or whether they will become more selective in sharing their actions.