Sushi Perps v2 Officially Launched, Supported by Hyperliquid
SushiSwap announced that its perpetual contract product Sushi Perps v2 has officially launched, supported by the high-performance Layer 1 exchange Hyperliquid.
The new version emphasizes "faster, cleaner, and truly designed around trader habits," significantly optimizing the trading experience. Users can start earning points immediately after completing trades, with the platform attracting trading flow through a points incentive mechanism.
With this upgrade, SushiSwap further solidifies its position in the decentralized perpetual contract space, while Hyperliquid's high-performance order book and matching engine provide users with trading speed and depth close to centralized exchanges, while maintaining on-chain transparency and non-custodial features.
Source: Public Information
ABAB AI Insight
Sushi Perps v1 previously performed poorly due to liquidity and experience issues; this v2's direct switch to Hyperliquid as the backend is a significant step in SushiSwap's strategic transformation. Hyperliquid is known for its high throughput and native order book, which can significantly reduce slippage and latency, addressing the main pain points of previous DEX perpetual contracts.
In terms of capital flow, SushiSwap attracts trading volume and TVL through points incentives and better product experience, while Hyperliquid expands its user base leveraging the Sushi brand, forming a typical DEX+CEX performance hybrid model. The points mechanism is expected to drive a surge in short-term trading volume, with potential future token economics or long-term incentive plans.
Structural judgment: This essentially belongs to the reconstruction of the industry chain. Sushi Perps v2 deeply integrates a decentralized front end with Hyperliquid's high-performance back end, with the mechanism indicating that DEX is shifting from "simply copying CEX" to reconstructing the perpetual contract space using CEX-level performance + on-chain advantages, driving liquidity and trading volume towards hybrid protocols with strong performance infrastructure.
ABAB News · Cognitive Law
Good products never reinvent the wheel; they find the fastest engine to install.
Points are not rewards but weapons to steal users from competitors.
Whoever first brings DEX speed close to CEX will take the next round of perpetual contract traffic pricing power.