Hypha

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

GoGoPool TVL = AVAX on the LST side + AVAX on the Minipool side + GGP staked by GGP operators.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Hypha's governance or utility token carries a market capitalisation of $795.3K based on circulating supply at the latest DeFiLlama snapshot. The token's market cap ($795.3K) is small relative to deposits secured by the protocol ($25M); a mcap/TVL multiple of 0.03× is sometimes read as a discount, though it can also reflect minimal fee accrual to the token.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Jun 30, 2023
   Listed on DeFiLlama

Hypha is a Liquid Staking protocol that issues liquid receipt tokens against staked deposits, so users earn validator rewards without locking up the underlying asset. It is deployed on Avalanche. The codebase has been independently audited (1 report on file).

Hypha is a single-chain protocol, deployed exclusively on Avalanche — this concentrates execution risk but simplifies the trust model. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Its token market cap ($795.3K) is small relative to TVL ($25M) — a mcap/TVL ratio of 0.03 is often read as the token being structurally undervalued versus the activity it secures.

Verified external resources for Hypha — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Hypha is one of 7 Liquid Staking protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Lido, Binance staked ETH, Rocket Pool, and 3 more. These peer protocols collectively secure $35B in deposits, giving you a frame of reference for whether Hypha's own TVL is at the top, middle, or tail of the category.

Lido

TVL $21.4B · 24h -0.07%

Binance staked ETH

TVL $8.6B · 24h +0.81%

Rocket Pool

TVL $1.3B · 24h +0.27%

DoubleZero Staked SOL

TVL $1.3B · 24h -0.46%

Sanctum Validator LSTs

TVL $1.2B · 24h +0.03%

Jito Liquid Staking

TVL $1.2B · 24h +0.03%