Hyperliquid vs HyENA
SwanBluechip verdict
SwanBluechip rates Hyperliquid 9/10 versus HyENA 8/10, so Hyperliquid is the higher-conviction pick today — but the right call depends on what you need. Compare the takes below.
| Metric | Hyperliquid | HyENA |
|---|---|---|
| SwanBluechip Score | 9/10 · Bluechip | 8/10 · Strong |
| Category | Perp DEX / L1 | Perps |
| Status | Season 3 | Points Live |
| Airdrop | Points Live | Points Live |
| TVL | $2.8B | Mid |
| HIP layer | — | HIP-3 |
| Referral available | Yes | — |
Hyperliquid
9/10 · Bluechip
The base layer. Season 3 farming is live — trading, staking and ecosystem use feed HYPE eligibility.
HyENA
8/10 · Strong
USDe-margined HIP-3 perps DEX from Ethena × Based — idle collateral earns yield while you trade.
The SwanBluechip Score is independent editorial opinion, not financial advice. See the
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