My story with Bitroot and Hyperliquid!

— — A tearful review from an old investment researcher

The mistake that kept me awake at night

I still remember the scene when I first saw the Hyperliquid white paper in early 2023.

Another boastful decentralized derivatives protocol? I sneered and closed the webpage. There was no financing news from top institutions such as a16z and Paradigm, and the team didn’t even dare to post real photos. How could they compete with dYdX? At that time, I mentioned in the group that this was a boastful project and didn’t need to be paid attention to.

Half a year later, when Hyperliquid’s contract trading volume suddenly exploded, when Jump Crypto and Wintermute began to buy frantically in the secondary market, and when the token rushed to Binance contracts — the price doubled 120 times in three months, I regretted it.

The most ironic thing is that the “no institutional financing” that made me most suspicious at the beginning became the reason for the outbreak of Hyperliquid!

Because there is no VC to unlock the token, the circulation of tokens is extremely scarce; Because there is no institutional intervention, community autonomy has truly realized the vision of “protocol as exchange”; Moreover, because of the contempt of everyone (ignorant old leeks like me), early participants have reaped the most lucrative dividends.

This time, when I personally deployed an AI smart contract on the Bitroot test network and saw the moment of 0.3 seconds confirmation and zero gas fee success — Hyperliquid PTSD broke out.

Missing the in-depth review of Hyperliquid: The blood and tears lesson of a crypto investment researcher

1. Why did I miss Hyperliquid?

Low early popularity and lack of institutional endorsement: Hyperliquiquid had almost no well-known VC investment in the early stage, and was not listed on mainstream CEX (such as Binance and Coinbase), which led me to misjudge it as “lack of capital support and difficult to grow”. Wrong assumption: Thinking that “no institution = high risk” ignores the potential of community-driven. Reality slaps in the face: Hyperliquid’s final market value exceeded 10 billion, and institutions such as Jump Trading and Wintermute bought heavily in the secondary market.

Over-questioning the “degree of decentralization”: I think Hyperliquid’s nodes and cross-chain bridges are still relatively centralized, which does not conform to the values ​​of “pure DeFi”. The market taught me: users care more about “CEX-level experience + DEX transparency” rather than absolute decentralization.

Failure to investigate in-depth capital inflows: In the early TVL of Hyperliquid, the source of 500 million USDC was unknown, but I did not dig deeper. Later, it was discovered that behind this was the layout of giant whales and market makers2.

1. The core reason for Hyperliquid’s success (the key I missed)

Bottom-up growth strategy: not relying on VC, relying on airdrops and community fission (such as “Chabusi” and other KOLs continue to promote). One of the largest airdrops in history: distributing $1.6 billion in HYPE, allowing early users to become “shareholders” and form a fanatical community (H Bingwei).

Precise product positioning: “Binance on the chain” narrative: combining order book + DEX transparency to attract CEX users to migrate. High-performance L1: HyperBFT consensus achieves 0.2 second confirmation, 200,000 TPS, comparable to CEX experience.

Economic model design: Double deflation: transaction fee destruction HYPE + Assistance Fund (Assistance Fund) continues to repurchase, pushing up the price of the currency. Staking income: annualized 2.5%, similar to ETH PoS, attracting long-term holders.

Binding super head resources: Jeff Yan, the founder of quantitative giant HRT background, stood on the platform in the early stage, and attracted KOL endorsements such as Ansem.

My biggest mistake: wrong benchmarking Wrong benchmarking: Comparing Hyperliquid with other high-performance public chains (such as Monad and Sui) instead of CEX (such as Binance and OKX).

Correct perspective: Hyperliquid’s real competitor is CEX, and its advantages are: More transparent: on-chain order book, no black box operation. Lower cost: no black box of listing fee, using Dutch auction mechanism.

1. What would I do if I could do it again?

Focus on community-driven projects: No VC ≠ low potential, but may reduce selling pressure (such as Bitcoin and Dogecoin).

Pay attention to abnormal on-chain data: huge USDC inflows, test network activity, etc., may be signals of whale layout.

Accept “progressive decentralization”: complete decentralization is ideal, but the market is more accepting of “usability first” (such as Solana and Hyperliquid).

Participate in early interactions: Hyperliquid airdrop rules are clear, and early test network users have received huge returns.

Bitroot’s technical violence aesthetics (why it is said to redefine the public chain)

Forget the pain of missing Hyperliquid, Bitroot’s battlefield is the global high-performance public chain arena. Its technical design reminds me of the shock when I first saw the Solana white paper — but more elegant and more deadly.

1. Parallelization engine: TPS 50,000+ dark magic Dynamic sharding + DAG sorting: Unlike Solana’s single historical thread, Bitroot decomposes transactions into microtasks and processes them in parallel through directed acyclic graphs (DAGs). In actual tests, in a 100-node environment, the simple transfer TPS exceeded 53,000. Hardware-level optimization: The team transformed the EVM bytecode compiler so that smart contracts can call GPU acceleration like CUDA programs (AI model training will be supported in the future).

2. Consensus revolution with final confirmation in 0.3 seconds Pipeline BFT: Traditional BFT (such as Cosmos) requires two rounds of voting (about 2–6 seconds), and Bitroot pipelines the verification process. When a block is still being broadcast, the verification of the next block has begun, and the actual confirmation time is stable at 0.28–0.33 seconds. Quantum clock synchronization: Atomic clock synchronization technology similar to Google TrueTime is used between nodes to control the network delay variance within ±5ms.

3. Killing the “impossible triangle” AI public chain architecture Storage layer: Use verifiable delay function (VDF) to compress historical data, and 1TB of blockchain data can be reduced to 20GB (comparison: Solana archive node requires 80TB+). Computing layer: Through zero-knowledge proof + AI reasoning, smart contracts are allowed to call models such as Stable Diffusion without exposing original data (tested Wensheng graph reasoning takes <1.2 seconds).

This time, I want to catch the dragon myself My fingers were shaking when I completed the following operations on the Bitroot testnet: Concurrently execute 50 NFT castings in the same block (Solana will crash directly for you to see); Deploy an automatic trading AI robot, which takes only 0.7 seconds from feeding prices on the chain to triggering transactions; See the testnet browser display real-time TPS: 49,218-this is just a test environment with 300 nodes.

The most terrifying thing is: no institution has noticed all this. There is no a16z platform, no investment announcement from Binance Labs, just like Hyperliquid in March 2023-there is only a group of basic users in the community frantically discussing how to build Bitroot, and their COO must conduct AMA every week.

To all the former “wrong judges” If you are like me: you once missed Hyperliquid because of “no institutional endorsement”; you once laughed at “TPS 100,000” as a marketing gimmick until you saw Solana’s counterattack; you once thought that the combination of AI and blockchain was just a PPT scam… Then the Bitroot testnet is your place of salvation.

Interactive testnet immediately: the airdrop rules are likely to refer to Hyperliquid’s early contributor plan Over-the-counter channels: the BRT quotation of an OTC matchmaker has risen from 500U to 700U (any lower than 1/10 of Hyperliquid’s issue price) “The dynasty change of public chains has never stopped, but only paranoia can survive.” — A Bitroot core developer

— -Why Bitroot may be the next Hyperliquid-level opportunity? I made several key mistakes in my early research on Hyperliquid, which led to the missed of its 100-fold increase. And now, I see very similar early signals in Bitroot — it may even be more explosive than Hyperliquiquid.

Similarity 1: Low popularity in the early stage, but technical strength far exceeds market recognition

Lessons from Hyperliquid Hyperliquid had almost no institutional financing in the early stage, and there was little community discussion. Many people (including me) believed that “no VC = high risk”.

But later it was discovered that its HyperBFT consensus + on-chain order book technology far exceeded similar DEXs, and eventually attracted institutions such as Jump Trading to buy heavily in the secondary market.

The current situation of Bitroot It also lacks institutional financing and is currently supported only by the community and over-the-counter transactions, but the technology is already amazing: 50,000+ TPS, 0.3 seconds confirmation (far exceeding Solana’s test network performance).

Parallelized EVM (pEVM) + Pipeline BFT consensus optimizes transaction scheduling and avoids Solana’s congestion problem.

Supports AI edge computing, and in the future, GPU miners can contribute computing power to train AI models, similar to Bittensor but more efficient.

Conclusion: Like Hyperliquid, Bitroot’s technology is underestimated by the market, but once the mainnet is launched, it may quickly attract institutional attention.

Similarity 2: Community-driven, strong airdrop expectations

Hyperliquid’s wealth effect Hyperliquid airdropped 31% of its tokens to early users, and some addresses received hundreds of thousands of dollars in revenue1.

After the airdrop, the price of HYPE soared 3 times, and the market value exceeded 10 billion US dollars.

Potential airdrop opportunities for Bitroot 100,000+ addresses participated in the Bitroot test network, far exceeding Hyperliquid’s early data9.

If an airdrop strategy similar to Hyperliquiquid is adopted, early interactors may receive rich returns. The price of OTC BRT vouchers has risen from 500U to 700U, indicating that the market FOMO sentiment is heating up.

Conclusion: Bitroot’s community growth path is highly similar to Hyperliquiquid, and the airdrop expectation may become a catalyst for price explosion.

Similarity 3: The track ceiling is extremely high, but competitors have not yet formed a moat

Hyperliquid’s track breakthrough At that time, the ceiling of the on-chain derivatives track was only US$1 billion (such as dYdX, GMX), but Hyperliquid redefined the valuation, and FDV rushed to US$14.2 billion.

Bitroot’s track potential The high-performance Layer1 track is still in its early stages and is still in the test network, but the test network data has exceeded Bitroot in a week. It is not only L1, but also supports AI computing power mining and large model training, and there is more room for imagination.

Competitors (such as Monad, SUI) have not yet formed an absolute advantage in performance, and Bitroot has the opportunity to become the leader of AI public chains.

Conclusion: Bitroot’s track is wider than Hyperliquid, and the competition landscape is more open.

Similarity 4: The economic model is exquisitely designed and the deflation mechanism is strong

Hyperliquid’s double deflation Transaction fee destruction HYPE + Assistance Fund repurchase, driving the coin price up by 1. In December alone, 8.2 million USD of HYPE was repurchased, with an average price of 5 and a current price of 20+, with a profit of more than 4 times.

Bitroot’s potential economic model

If a revenue repurchase mechanism similar to Hyperliquid is adopted (such as using AI computing power rental fees to destroy BRT), strong deflation will be formed.

At present, the total number of BRT mainnet token certificates is only 21,000, which is extremely scarce (compared with Bitcoin).

Conclusion: If Bitroot can design a reasonable token economy, it may replicate the logic of HYPE’s rise.

Summary: Bitroot may be the biggest Alpha opportunity in 2025 Hyperliquid taught me: “No institution ≠ low potential”, and real 100x projects are often born in corners ignored by the market.

Bitroot’s current situation is very similar to Hyperliquid in 2023: 1: Leading technology but not widely recognized 2: Community-driven, strong airdrop expectations 3: The track ceiling is extremely high, and competitors have not yet monopolized 4: The currency economic design has deflationary potential

If you missed Hyperliquid, don’t miss Bitroot this time.

How to layout? Interact with the test network immediately (strive for airdrop qualifications). Attached test network tutorial: https://vagabond-scale-088.notion.site/dbe6b4910910411fb11c5c86edf0376e

Pay attention to OTC BRT transactions (if the price is <US$700, you can open a position in batches).

Track the progress of the mainnet launch (technology landing is the key catalyst). “The excess returns in the crypto market will always belong to those who dare to bet when no one cares.” — —

Bitroot official website: https://bitroot.co/
X: https://x.com/Bitroot_