Key facts
- Hyperliquid's May perpetual trading volume reached a record 6.63% of global centralized exchange aggregate volume.
- Radiant Capital is initiating a phased, orderly wind-down of all protocol operations.
- A Kelp DAO bridge hacker has laundered approximately $220 million in stolen assets.
- The Solana Foundation is rolling out a grant program to boost the on-chain perpetual futures ecosystem.
- Ondo Perps is slated to launch equity perpetual contracts on June 9, 2026.
- Symbiotic has launched its Liquid Lane network to enable instant stablecoin redemptions for tokenized RWAs.
The Solana Foundation is bolstering its on-chain derivatives ecosystem with a dedicated grant program, aiming for fully on-chain perpetual contracts. Hyperliquid has become a significant weekend trading venue for some Wall Street traders, achieving a record 6.63% of global centralized exchange perpetual trading volume in May. However, the platform faces challenges, with its standalone crypto perpetual trading volume declining year-on-year. Radiant Capital is commencing an orderly wind-down of its operations due to an October 2024 exploit and failure to secure financing or growth. The hacker responsible for the Kelp DAO bridge exploit has successfully laundered approximately $220 million of the stolen funds through various privacy protocols, effectively closing the recovery window. In branding news, TON's native token has been rebranded to Gram, reverting to its original whitepaper name, while the underlying blockchain remains The Open Network (TON). The Sui mainnet experienced three outages due to bugs in its v1.72 upgrade, though no user funds were compromised. Polymarket suspects rival Kalshi of corporate espionage over parallel product launches, an accusation Kalshi denies. Lending protocol Spark has seen its total deposits approach $4.5 billion, reaching new all-time highs. Ondo Perps is preparing to launch equity perpetual contracts on June 9, 2026, targeting eligible traders. Crypto infrastructure firm Symbiotic has launched its Liquid Lane network to expedite stablecoin redemptions for tokenized real-world assets.