@liuxiaoting
Hyperliquid, a leading decentralized perpetuals DEX, has achieved over $1T in lifetime trading volume by 2025, dominating derivatives with low-latency execution and fair MEV capture. Daily fees average $3M, peaking at $106M monthly, indicating high user lifetime value (LTV) through sustained trading and HYPE token buybacks (93-99% of fees).
User acquisition cost (CAC) in DeFi is typically low, driven by organic growth, airdrops, and community referrals rather than traditional marketing. Estimated CAC: <$50 per user, via social velocity and wallet integrations.
LTV estimates: $500-$2,000+ per active trader, based on retention and volume. LTV:CAC ratio >10:1, far exceeding the 3:1 benchmark for sustainable growth, validating Hyperliquid's model in competitive derivatives.
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