stHYPE

stHYPE receives a B- risk grade (29/100) from Hindenrank, where lower scores indicate lower risk. stHYPE was an early mover in Hyperliquid liquid staking but has lost significant ground to kHYPE. The Valantis acquisition brings new strategic direction but introduces governance uncertainty. Sound technical foundation with open-source audited contracts, but competitive headwinds and ecosystem concentration create meaningful risk. Moderate risk, uncertain trajectory. stHYPE is a liquid staking token for Hyperliquid's HYPE token. It was the first LST on HyperEVM but has since been surpassed by kHYPE. In August 2025, stHYPE was acquired by Valantis DEX and is being transformed into a modular liquid staking platform. Users stake HYPE and receive stHYPE that can be used across Hyperliquid DeFi.

The key risks identified for stHYPE are: (1) stHYPE has been losing market share to competitors — it dropped from $500M to ~$130M TVL, raising questions about long-term viability (2) The Valantis acquisition means a DEX company now controls your staking provider, which may create conflicts of interest (3) Your entire investment is tied to the Hyperliquid ecosystem — if HYPE or the chain has problems, stHYPE is directly affected

stHYPE scores 29/100 across eight risk dimensions: Mechanism Novelty: 4/15, Interaction Severity: 6/20, Oracle Surface: 2/10, Documentation Gaps: 3/10, Track Record: 3/15, Scale Exposure: 5/10, Regulatory Risk: 3/10, Vitality Risk: 3/10. The highest risk area is Scale Exposure at 5/10.

Among 83 rated Liquid Staking protocols on Hindenrank, stHYPE ranks #35 by safety (lowest risk score = safest). Its 29/100 risk score and B- grade place it in the middle tier of Liquid Staking protocols.

stHYPE scores 3/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.