I made $200,000 in two weeks, how do I bootstrap on Hyperliquid?

Original Title: How I Broke the Startup Playbook - $0 to $50m In 1 Month

Original Author: @PerpetualCow, Wagyu Founder

Original Translation: Luffy, Foresight News

This is my entrepreneurial story. One month ago, I came to the X platform as an anonymous user. At that time, I was penniless, had no fans, no connections, and no funding.

To make a name for oneself in such a situation seemed like an impossible feat, but I did it. Now, I want to share my success story and tell you: you can do it too.

My Entrepreneurial Starting Point

The reason I created this account was due to the heavy drop in the HYPE token price, where all my savings were tied up.

I thought, at the very least, I could open an account on the X platform, write about my views on HYPE and the investment logic behind it, and convince everyone why this cryptocurrency was severely undervalued, hoping to drive up its price.

So, I wrote an in-depth analysis article and posted it on this newly registered account, hoping to reach a wider audience. To my surprise, this article went viral.

If you are not a player in the cryptocurrency field, you may not have heard of the Hyperliquid platform, which is fine as it is not the focus of this article.

However, from the beginning, I was convinced that this ecosystem held immense potential.

I started thinking about what else I could do besides posting to actively contribute to the trading volume and market cap of HYPE, thereby driving token buybacks, increasing its market attention and influence.

First Failed Attempt

I decided to develop a product on the Hyperliquid platform to generate more trading volume and revenue for the platform. This way, the platform would not only increase its buyback of HYPE tokens but also enhance the token's exposure and market consensus.

At that time, the Hyperliquid ecosystem was already quite mature, with developers creating many impressive financial tools, such as the platform for trading pre-listed company stocks, Ventuals, and tools that provided stock futures leverage trading, like trade.xyz.

But one thing has been overlooked: forex trading pairs. As one of the largest derivatives in the traditional financial market, it's surprising that no one has brought it to the Hyperliquid platform yet.

First, let me give you some background. Hyperliquid is a permissionless trading platform where anyone can issue their own trading products.

The daily trading volume of the forex market reaches up to $7.5 trillion, a scale that is a whopping 10 times the total of global stock markets. With my experience in the traditional derivatives field, I keenly sensed the enormous opportunity in this.

I'm sure other developers haven't even realized how big this pie is. As long as I can be the first to launch forex trading pairs on Hyperliquid, I can earn a significant amount through future fee sharing.

I can't believe such a great opportunity has been consistently ignored.

I knew I had to act immediately and race against the clock, as it wouldn't be long before other developers discovered this hidden opportunity.

I swallowed 20mg of instant-release Adderall (a central nervous system stimulant), ordered a few bottles of Red Bull on a food delivery platform, and immediately immersed myself in development work.

I programmed through the night, and by the next morning, the prototype of the product was already complete.

I registered the domain name Hyperfx.xyz, and I even prepared around 500,000 HYPE tokens worth approximately $15 million as payment for the platform deployment fee.

I felt like my moment was finally coming.

However, I made a fatal mistake.

Before the effect of the stimulant wore off and I drifted into a drowsy state, following the usual procedure, I deployed the product to the testnet and then fell asleep.

This was the most serious mistake I have ever made in my life.

I never expected that someone would closely monitor a new deployment project on the testnet. When I woke up, I found out that the news of my deployment of forex trading pairs on the testnet had already spread in the Hyperliquid developer private community.

The entire Hyperliquid ecosystem was in an uproar. Everyone knew that a new developer was about to launch forex trading pairs on the platform. Only then did everyone realize, belatedly, that there was still such a large blank space in the market. Before me, no one had actually thought of doing forex trading pairs.

The news quickly reached the ears of trade.xyz. The company responded swiftly, immediately seizing the Japanese Yen to US Dollar (JPYUSD) trading pair, announcing its intention to be the first to launch a forex trading product on Hyperliquid.

It is important to note that trade.xyz's platform has a daily trading volume in the billions of dollars, with the funds behind its trading pairs numbering in the billions.

I was well aware that I was no match for such a giant.

On the Hyperliquid platform, what would be the point of becoming a second-rate forex trading service provider?

One wrong step leads to total loss. I single-handedly ruined my bright future.

Instead of launching a me-too product in the market, thinning out the platform's liquidity, I might as well abandon this project altogether. After all, contributing to the Hyperliquid ecosystem is my original intention.

As expected, shortly thereafter, trade.xyz officially launched the Euro to US Dollar (EURUSD) trading pair.

I was shaking with anger, a kind of rage that words cannot describe. If it weren't for the despair that had already engulfed me at the time, I really wanted to smash my computer to pieces. I never knew I could be so overwhelmed by anger to such an extent.

But more than anything, I was angry with myself. How could I make such a rookie mistake and just hand over my hard work like that?

This is basic knowledge in the entrepreneurial field, yet I messed up big time. This time, I lost completely, and I may have missed the opportunity to earn up to $1 billion in fees over the next few years.

A foolish mistake has caused my entire plan to fall through. I can hardly believe my eyes. I've made plenty of mistakes before, but never has one been as absurd and ridiculous as this.

I swear to myself that from now on, I will never deploy any product to a public testnet again.

The frustration compounded by the fading effects of the Adrafinil left me in a state of acute depression. I became a defeated and dejected ox.

Until one day, I finally reached my breaking point...

I had to pull myself together.

I started brainstorming, considering other possibilities. Since everyone was not thinking about forex trading pairs, there must certainly be other overlooked opportunities.

Although I was momentarily frustrated, I will never give up. I am determined to find a new breakthrough.

After all, the realm of the financial system is so vast that I am sure to find some unknown market gap. However, this time, I will never repeat the same mistakes.

I noticed a serious issue in the Hyperliquid ecosystem: a few top developers are copying each other, which is quite short-sighted and only leads to a significant fragmentation of the platform's liquidity.

For example, trading pairs for popular stocks like Tesla (TSLA) and NVIDIA (NVDA) have been redundantly deployed by multiple developers.

No one is willing to innovate; everyone is just copying each other, launching products that are more or less the same. Of course, this approach can bring a certain amount of trading volume and revenue, but it is ultimately not a long-term solution.

The Road to Rebirth: My Moment of Success

At this point, I noticed that the Monero (XMR) community's needs had been severely overlooked for a long time. Due to Monero's privacy features that have angered regulators, most exchanges have delisted this token.

Nevertheless, Monero still ranks in the top 20 of cryptocurrency market capitalization, with a market cap of nearly $10 billion and a large and loyal community of users. There is a market demand for a platform to meet the trading needs of Monero users.

This is simply the perfect target tailored for Hyperliquid. After all, the very purpose of a permissionless decentralized exchange lies here.

Let me give you a brief background: before I launched wagyu.xyz, it was nearly impossible for ordinary people to buy Monero.

You either had to use some dubious instant exchange websites, paying over 1% in fees to complete a transaction, or resort to centralized exchanges, which often freeze your account when you deposit or withdraw Monero.

Today, most centralized exchanges have delisted Monero. Even the world's largest cryptocurrency exchange, Binance, announced last year that it was delisting Monero, with other exchanges following suit.

I saw the potential in this situation and created wagyu.xyz, making Monero transactions easier than ever before. Users only need to deposit any token (such as ETH, BTC, SOL, USDC) on the Hyperliquid platform to exchange it for the XMR1 token I issued.

When you hold XMR1 on the Hyperliquid platform, you can easily withdraw it to your Monero wallet with just a few clicks at wagyu.xyz.

I created a short demo video explaining the process, which quickly went viral and caused a huge sensation in the Monero community.

Video Link: https://x.com/PerpetualCow/status/2002112238044483642

My product is more user-friendly than any similar tool on the market. After all, an excellent product is always the market winner.

A pure Monero token is a treasure for users. The Monero community is ecstatic, as they have never seen such a user-friendly tool that completely solves their transaction pain points. In comparison, previous alternatives were simply terrible.

Since then, the Wagyu platform has been advancing rapidly. Just two weeks after launch, the platform's withdrawal amount exceeded $10 million, bringing in over $20 million in additional trading volume to the Hyperliquid platform.

Since the platform's launch, we have enabled more investors who were previously unable to access Monero to finally buy this token. When people can confidently buy Monero and securely hold it in cold storage without worrying about their accounts being frozen, buying demand naturally continues to flow in.

Now, users can easily buy or sell Monero on a scale of millions of dollars using a time-weighted average price algorithm and securely store the tokens in their wallets. The platform's order book liquidity has become very robust, and over time, as the platform continues to operate, liquidity will only improve – after all, we are only two weeks into this journey.

$50 Million Valuation in Two Weeks

Just two weeks after launch, the Wagyu platform generated $200,000 in revenue, with an annualized revenue of $5.2 million.

I initiated a small-scale fundraising round for members of the Hyperliquid community and friends I met during my entrepreneurial journey. The company was valued at $50 million, with a corresponding P/E ratio of 10x. The fundraising amount was quickly oversubscribed, clearly showing that many people have already seen the tremendous potential of this project.

However, I will not stop here. Monero's success is just the first step in my strategic plan.

I plan to develop wagyu.xyz into a leading developer platform within the Hyperliquid ecosystem and introduce a rewards system to incentivize users to provide liquidity to the platform and generate trading volume.

My goal is to build Wagyu into a platform that can compete with other top projects in the Hyperliquid ecosystem. We will focus on developing high-quality products that users truly need, are willing to trade, and hold.

Entrepreneurship Insights

This story tells us a truth: if you think of it, just go ahead and do it.

Go find the market gap. In this world, there are still too many unmet needs waiting for you to discover and fulfill.

We are in a golden age of entrepreneurship, where success is within reach. Don't follow the trend of creating run-of-the-mill artificial intelligence products; instead, build hardcore products that truly have market demand.

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