Hyperpie (SpinUp) (SUP)

What is Hyperpie? 🤔

Hyperpie (rebranded as SpinUp) is an integrated DeFi ecosystem on Hyperliquid Layer 1 that combines separate interconnected protocols, including:

• HYPE Liquid Staking (mHYPE): Users can stake their $HYPE token to receive $mHYPE in return. The primary incentive to hold $mHYPE is its appreciating exchange rate, which grows as staking rewards accumulate. These assets can also be used across the Hyperpie meme launchpad and DEX to provide liquidity and conduct token launches;
   
• Hyperpie.Fun: Meme token launchpad that employs a new anti-rug system using the Bonding Curve model and a sophisticated smart contract architecture. This eliminates the possibility of hidden presales and protects users from on-chain snipers;
   
• DEX: A decentralized exchange with a built-in Automated Market Maker (AMM) protocol, allowing users to swap tokens and provide liquidity within the Hyperpie app. It supports assets such as meme coins, $HYPE, $UBTC, $UETH, and others.

Read more about Hyperpie features in the docs. 

On top of that, the project claims to expand into the HIP-3 markets on Hyperliquid, collecting 500 $HYPE for staking to get acces to Hyperliquid infrastructure. Though, there are no confirmations neither on DeFiLlama or project socials on the stage of the HIP-3 markets launch.

All these features combined form an interconnected ecosystem within a single interface, thanks to a unified token standard and interconnected smart contracts. The main goal of Hyperpie is to increase capital efficiency and create a user-friendly environment for meme tokens within the Hyperliquid ecosystem.

As a result, users are able to instantly create a new liquidity pool on Hyperpie DEX, as well as trade those memecoins using the Hyperpie ecosystem tokens (e.g., $HYPE, $mHYPE, $SUP).  

🪙 The $SUP Token: 

According to the project’s website and documentation, the Hyperpie is now rebranded to SpinUp, with $SUP as the native and governance token of the project, enabling users to participate in the decision-making process.

Similar to $mHYPE, it can be staked to receive $veSUP yield-bearing liquid staking token (LST), which offers several advantages: 

• Boosted rewards and access to direct liquidity mining incentives on the platform;
• Voting power and staking benefits for users with longer lock periods;
• Additional incentives driven by governance through the ve(3,3) tokenomics model.

According to SpinUp docs, the $SUP airdrop is confirmed, with 30% of all tokens allocated to early SpinUp stakers.
 

Considering the upcoming Hyperpie (SpinUp) airdrop, we prepared for you a list of pros and cons of the project: 
 

✅ Pros:

• The project is built within an emerging, upcoming ecosystem - Hyperliquid;
• The platform has the first memecoin launchpad on Hyperliquid;
• Partnership with Kaito - leading social app and launchpad.
   

❌ Cons:

• Below average marketing score;
• There's no confirmed SpinUp TGE date or airdrop;
• No top-tier auditors have reviewed the platform;
• Low protocol’s TVL;
• Inconsistent brand naming - the platform apparently switched to name SpinUP, but hasn't announced it yet;
• No info on Initial Circulation Supply;
• Anonymous team.