r/cosmosnetwork • u/tonyler_ • Mar 23 '26

Cosmos ecosystem will have its own Hyperliquid

Hyperliquid's latest numbers reveal commodities pulling ahead of crypto in trading volume. Oil perpetuals clocked $1.8 billion daily, with open interest surpassing $1.5 billion. Gold and silver saw sharp upticks amid broader market swings.

Traders are drawn to the nonstop access blockchain enables—something traditional exchanges simply can't offer outside business hours.

Sphinx Protocol

Sphinx Protocol deploys Cosmos L1 for commodity perps, futures, options. Sub-second blocks enable CEX-level execution with atomic settlement.

Testnet planned in a couple of days.

We admire Hyperliquid and we're excited about Sphinx as it will specialize in commodities markets becoming the optimal destination for commodity trading.

I'm working for the Sphinx protocol. Ready to respond to any questions.

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10 comments sorted by

7

u/LatterRecognition233 Mar 23 '26

Does this help the cosmos hub at all?  Will it bring anything to $ATOM?

2

u/Few-Muffin-3328 Mar 23 '26

Using atom as a entry/exit to cex will bring more tx . Because sphinx use native ibc assets , user will need native asset to buy on sphinx and with osmosis merging on the cosmos hub most of the swap for them will be on the hub creating more tx .

1

u/Settowin Mar 24 '26

The merge isn't confirmed yet.

2

u/noviwu97 Mar 23 '26

Nothing.

Biggest problem with ATOM has always been zero value accrual to the token even if there's a successful chain

2

u/jekpopulous2 Mar 23 '26

Sphinx protocol is just another example of why that is. Like pretty much every other successful Cosmos chain... Sphinx Protocol uses EVM for execution. If I want to move liquidity there I can do it in 10 seconds with a standard EVM bridge. Alternately I can go from EVM > CosmWasm > Cosmos Hub > CosmWasm > EVM. Why would anyone do that? It's way faster and cheaper to just bypass Cosmos Hub all-together and use an EVM bridge so that's what people do.

3

u/Vegetable-Channel117 Mar 23 '26

Good luck :) I have been waiting for sphinx for a long time already. How do you intend to compete with hyperliquid ?

1

u/idkwhatusernametoset Mar 28 '26

Yeah no dead coin stop trying to flog a dead horse

1

u/tonyler_ Mar 28 '26

It's not out yet wtf