Hyperliquid has established itself as a leading platform in the decentralized finance space, initially building a high-performance on-chain perpetual futures machine with HyperCore. Following a significant airdrop of $HYPE tokens, the platform introduced HyperEVM in early 2025, aiming to provide native access to deep perpetual liquidity directly from smart contracts without the need for bridges or fragmentation. This innovation has reportedly led to a surge in Total Value Locked (TVL) exceeding $5 billion, record-breaking active addresses, and substantial ecosystem growth.
The project's tokenomics are noted for their deflationary aspects, with over 97% of fees being used for token buybacks. For investors seeking an asset that captures real yield, auto-compounds, and benefits from the Hyperliquid ecosystem's momentum, $hyperRAM is highlighted as a compelling option.
Understanding Ramses and hyperRAM Mechanics
Ramses is a decentralized exchange (DEX) built on a ve(3,3)-inspired model, which has been tested and audited on Arbitrum. It has now become the primary DEX on HyperEVM, serving as a crucial liquidity layer. The x(3,3) model is designed to address issues found in older DEX models by offering more flexible token locking, dynamic fee structures, internalized Maximal Extractable Value (MEV), and a mechanism for value to accrue back to the community.
Key Components of the Ramses Ecosystem
- •$RAM: This token serves as the governance token and provides access to fee sharing. It is characterized by a low Fully Diluted Valuation (FDV) and generates real revenue.
- •xRAM: This is the locked or escrowed version of the $RAM token, designed to maximize benefits and boosts within the ecosystem.
- •hyperRAM: This token is a liquid staked derivative. It can be minted 1:1 from xRAM, maintaining liquidity. The peg ratio of hyperRAM to xRAM is designed to auto-compound over time as protocol fees are used to buy back and stabilize, or grow, the peg above a 1:1 ratio.
The auto-compounding feature of hyperRAM is a significant aspect of its value proposition. As trading volume on Ramses increases on HyperEVM—facilitated by tighter spreads and direct access to perpetual liquidity—protocol fees are generated. These fees are then used to buy back $RAM and hyperRAM, which in turn increases the ratio of hyperRAM. The ratio has reportedly already surpassed 1x and projections indicate it could reach 2x or higher in the next phase of the market cycle. This mechanism is described as providing real yield without relying on inflationary farming strategies, with peak Annual Percentage Rates (APRs) reaching over 80% from actual trading revenue.
The article draws parallels to the performance of early ecosystem gems in other blockchain networks, suggesting that hyperRAM could outperform the base token ($HYPE) as the Hyperliquid flywheel spins. Ramses is positioned as the central hub for concentrated liquidity within this ecosystem. While $HYPE garnishes attention, hyperRAM and $RAM are presented as leveraged plays on the growth driven by Hyperliquid's success.
Investment Potential of hyperRAM
- •Undervalued: The token is considered undervalued relative to its revenue generation, drawing comparisons to traditional finance metrics like price-to-earnings ratios.
- •Exponential Exposure: The compounding ratio offers exponential exposure to the ecosystem's growth without requiring users to lock their liquidity.
- •Asymmetric Risk/Reward: If HyperEVM achieves significant adoption and ranks among the top blockchain networks, the potential for Ramses' TVL and fees to increase manifold (e.g., 10x) could lead to substantial gains for hyperRAM holders.
Strategic Allocation in DeFi
The article emphasizes the importance of conviction and patient holding for those who are accumulating hyperRAM. It suggests that current holders are positioning themselves for a type of upside that involves quiet compounding while other assets, such as meme coins, are being chased. The strategy is presented not as speculative hype, but as a combination of sound mechanics and positive market momentum.
Investors are advised to monitor the hyperRAM ratio, trading fees, and TVL on Ramses. For individuals seeking genuine advantages within the DeFi space, hyperRAM is recommended for serious consideration and allocation.