HyperSwap SWAP

Payout off peakRank#6in Low payoutnewScore53

Paid to holders this week: 11% of the best week in 90 days ($4k against $39k), while revenue −3% over 30 days.

Dexs, Hyperliquid L1, 193 days of data

Low payout: less than $100k to holders in 30 days, or payouts on fewer than 8 of the 30 days (for a token that pays in cycles of a week or longer: more than one of the payouts its cycle predicts missed); ranked within this group

Market cap

$1.0M

price $0.0145 · 7d −19.7% · 30d −53.1%

FDV $1.3M (1.3× market cap)

source defillama

Buyback revenue / year

$427k

holders revenue of the last 30 days, $35k, × 365 ÷ 30

Buyback + burnbuyback share 76%

Buys back 42% of its market cap a year, using 76¢ of every $1 it earns.

Multiple

2.4×

peer median 14.6× (Dexs, 14 tokens), against 2.4× here

Run-rate

4.5×

last 7 days $4k × 52 = $230k a year

last week's payout to holders ran at 54% of the 30-day pace: the payout is slowing

What we checked

Valuation
Multiple 2.4×, 6.1× cheaper than its Dexs peers (median 14.6×, 14 tokens). The group's largest earner Uniswap trades at 36.2×: 15.0× cheaper per dollar returned to holders. On total revenue: 1.8×, 9.2× cheaper than the revenue peer median.
Distribution
Buyback + burn: Revenue buys the token on the market and the bought tokens are burned. Holders got $35k of $46k revenue in 30 days → buyback share 76%. DefiLlama: “32% of fees used for buy-back and burn.”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 12% of the month's holders revenue; paid to holders this week: 11% of the best week in 90 days (more than half below peak). Revenue −56% over 7 days and −3% over 30 days, price −53% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Payout >50% below peakthis week's holders revenue is 11% of its best week in the last 90 days ($39k)

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $35k / $46k; last 30 closed days
To holders: Buys back 42% of its market cap a year
FDV / dilution: $1.3M / 1.3×; FDV ÷ market cap
Price 7d / 30d: −19.7% / −53.1%
Revenue growth 7d / 30d: −56% / −3%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: $287k; DexScreener, representative pools
24h volume: $9k; all markets, CoinGecko
Unlocks 30d: —; DefiLlama's schedule does not cover the next 30 days while tokens are still locked
Revenue multiple: 1.8×; market cap ÷ revenue per year
Fee multiple: 0.4×; market cap ÷ fees per year
Distance to peak: 11%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)

Multiple over time

today 2.4× (scored) · peer median 14.6×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

No signals for this token yet.

Versus peers

Dexs · 14 tokens · median multiple 14.6× · Uniswap is valued 3497.1× higher. Per dollar that counts for holders, HyperSwap is 15.0× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Pharaoh Exchange	ve / bribes	0.3×	0.2×	100%	$1.3M	$2.4M	−53%
RamsesX	Mixed	0.7×	0.5×	90%	$347k	$2.2M	+8%
nest	Distribution	0.8×	0.4×	100%	$868k	$4.3M	+30%
up	ve / bribes	2.0×	1.0×	100%	$300k	$3.7M	−70%
HyperSwapthis token	Buyback + burn	2.4×	1.8×	76%	$35k	$1.0M	−3%
Chainflip	Buyback + burn	5.6×	5.6×	100%	$536k	$36.3M	+56%
Aero	ve / bribes	8.2×	3.8×	96%	$7.4M	$352.3M	−8%
PancakeSwap	Buyback + burn	21.0×	13.7×	65%	$2.4M	$602.4M	−29%
Raydium	Buyback	27.2×	16.9×	62%	$1.3M	$421.9M	−65%
Curve Finance	ve / bribes	30.7×	11.1×	94%	$2.6M	$376.7M	+44%
Uniswapleader	Buyback + burn	36.2×	36.2×	100%	$8.2M	$3.59B	−19%
Aster	Buyback + burn	51.2×	∞	—	$2.7M	$1.71B	—
Orca	Buyback	52.8×	8.1×	15%	$120k	$77.1M	−37%
Meteora	Distribution	162×	4.8×	17%	$480k	$166.1M	−54%

Score build-up53 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

53of 100#6newtop 7%

Valuation 35.0Momentum 4.3Divergence 0.0Quality 13.3= 52.6

Valuation35%

100Valuation 100.0: HR half 100.0 (multiple 2.41×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 9.18×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%capped

17Momentum 17.2: m = 0.5·g7 −0.812 + 0.3·(ln(day jump 0.85) clamped ±1.5 = −0.161) + 0.2·g30 −0.026 = −0.460; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%capped

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

67Quality 66.7: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 12% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.11 → 0.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from

Revenue source: 3 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 12, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token3 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

HyperSwap Terminal
Interface · Hyperliquid L1
type unclear · source none
No methodology text at DefiLlama.
adapter on GitHub ↗
HyperSwap V2
Dexs · Hyperliquid L1
type buyback-burn · source text
“32% of fees used for buy-back and burn.”
32% of fees used for buy-back and burn.
adapter on GitHub ↗
HyperSwap V3
Dexs · Hyperliquid L1
type buyback-burn · source label
“Token Buy Back: SWAP bought back and burned using 75% of the swap fees the protocol keeps.”
The three quarters of the protocol's share of swap fees that is used to buy back and burn SWAP.
Token Buy Back
SWAP bought back and burned using 75% of the swap fees the protocol keeps.
adapter on GitHub ↗