PANews reported on August 19th that decentralized exchange protocol Valantis announced the acquisition of StakedHYPE, the second-largest liquid staking platform on the Hyperliquid blockchain, for an undisclosed sum. StakedHYPE's operations and development will be transferred to Valantis Labs, with its founder, Addison Spiegel, serving as an advisor to Valantis.

StakedHYPE has a total locked value (TVL) exceeding $200 million, second only to Kinetiq, and is a key component of the Hyperliquid ecosystem. Valantis previously launched dedicated trading platforms for stHYPE and kHYPE, which currently have a combined TVL of approximately $70 million and a cumulative trading volume exceeding $500 million.

Going forward, Valantis plans to enhance the decentralized nature of the stHYPE token, deepen its integration with its DEX and Hyperliquid ecosystems, and develop stHYPE into a broad liquidity network. The transaction has been completed following detailed negotiations between the two parties several weeks ago. Valantis' investors include Kraken Ventures and Figment Capital.