WuBlockchain
Hyperliquid, Kelp DAO, Radiant Capital, and Polymarket all made headlines in a single week that touched every corner of DeFi — perps, lending, prediction markets, and cross-chain infrastructure.
Why it matters
Hyperliquid's perpetual trading volume printed a fresh record, cementing its position as the dominant on-chain derivatives venue. Radiant Capital announced it is preparing to shut down, a rare wind-down for a cross-chain lending protocol that once held over $1B in TVL. Polymarket alleged industrial espionage from Kalshi, a prediction-market rival. The Kelp DAO bridge was drained, marking another high-profile exploit in the restaking corridor. Separately, the Solana Foundation said it will support fully on-chain perpetual contracts with traffic, technical, and financial resources.
Market impact
Hyperliquid's record cements the on-chain perps migration away from order-book DEXes and offshore venues. Radiant's shutdown is a wind-down, not a hack — but it returns principal claims to depositors and removes a cross-chain lending option. The Kelp bridge exploit is the latest in a string of restaking-corridor incidents and will accelerate scrutiny of bridge and restaking security models. Polymarket's allegation against Kalshi escalates a competitive dispute into a public-espionage claim. Solana's backing of on-chain perps pulls the network into a category Hyperliquid currently dominates.
Source: [Weekly Project Updates: Hyperliquid Perp Volume Hits Record, Radiant Capital Prepares Shutdown, Hacker Drains Kelp DAO Bridge Funds, etc — Wu Blockchain](https://wublock.substack.com/p/weekly-project-updates-hyperliquid-bfc)
Frequently asked questions
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Did Hyperliquid's perpetual volume set a new all-time high this week?
Yes. Hyperliquid's perpetual trading volume printed a fresh record, cementing its position as the dominant on-chain derivatives venue according to Wu Blockchain's weekly roundup.
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Why is Radiant Capital shutting down?
Radiant Capital announced it is preparing to wind down, returning principal to depositors. The closure removes a cross-chain lending option that once held over $1B in TVL.
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What happened with the Kelp DAO bridge?
Kelp DAO's bridge was drained this week, making it the latest incident in a string of exploits targeting the restaking corridor and likely accelerating scrutiny of bridge security models.
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What did Polymarket allege against Kalshi?
Polymarket alleged industrial espionage from Kalshi, escalating a competitive dispute between the two prediction-market platforms into a public claim.
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What did the Solana Foundation announce about perps?
The Solana Foundation said it will support fully on-chain perpetual contracts with traffic, technical, and financial resources, pulling Solana into a category Hyperliquid currently dominates.
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