About Rip Strategies
Rip Strategies is a tokenized vault protocol based on Hyperliquid (HyperEVM) that allows users to have liquid fractional exposure to managed NFT treasury strategies. The Hypurr Vault, its main product, holds a collection of 30 Hypurr NFTs from the Hyperliquid ecosystem and issues $rHYPURR shares that represent a share of the underlying assets. The protocol was developed by a group of OG Hyperliquid traders and EVM developers, some of whom had worked on Fantom previously. According to DefiLlama, the vault is live on the mainnet and has about $460,000 in total value locked, with $rHYPURR activel
Worth a look
Airdrop officially confirmed
How to Farm
- 1. Get HYPE Tokens
- 2. Move HYPE to HyperEVM
- 3. Connect Wallet at Rip.xyz
- 4. Mint $rHYPURR
- 5. Hold or trade $rHYPURR
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Why Farm Rip Strategies?
Rip Strategies isn't promising you a token. There's no points dashboard. No native airdrop announcement. So why bother? Because you're farming airdrops passively through proxy. The vault holds 30 Hypurr NFTs, and those NFTs catch every ecosystem airdrop that Hyperliquid projects throw at NFT holders. You get fractional exposure without buying a whole NFT (which would cost significantly more than minting vault shares). The math is simple: Hyperliquid is one of the hottest ecosystems right now, and projects love airdropping to Hypurr holders.
The protocol launched by OG Hyperliquid traders and ex-Fantom devs. No VC funding rounds announced, which means if they do drop a governance token later, the allocation won't be diluted by investors who got in at pennies. $460k TVL is small, which is actually good for farmers. Early vault participants could have outsized exposure if the protocol grows. The vault NAV updates hourly and $rHYPURR trades on Hyperliquid DEXes, so you have liquidity if you need to exit.
The bet here is twofold: one, Hyperliquid ecosystem projects continue airdropping to Hypurr NFT holders (happening already), and two, Rip Strategies eventually launches its own token to reward early vault users. The first is likely, the second is speculation. But the barrier to entry is low, and you're capturing real airdrop value either way.
Earning Strategies
Mint and Hold $rHYPURR for NFT Airdrop Exposure
Bridge HYPE to HyperEVM, mint $rHYPURR shares, and hold. This is the core strategy. When Hyperliquid ecosystem projects airdrop tokens to Hypurr NFT holders, those tokens flow into the vault treasury. Your share of the vault means you get a proportional cut of every airdrop the 30 NFTs receive. The vault processes NAV every hour, so airdrop value gets reflected in your share price.
Deposit before major Hyperliquid project launches. Most airdrops use snapshot mechanics. If you're holding $rHYPURR when the snapshot happens, you're eligible. Getting in early also means you lock in a lower NAV entry point. As airdrops accumulate in the treasury, NAV per share increases. You can redeem later at a higher NAV and pocket the difference. Check Hyperliquid announcements and Discord for upcoming projects that might reward Hypurr holders.
Provide Liquidity on ProjectX HYPE-rHYPURR Pool
After minting $rHYPURR, pair it with HYPE and provide liquidity on ProjectX, the main DEX on Hyperliquid. ProjectX runs its own points program, and LP providers earn points based on liquidity depth and volume. You're stacking two potential airdrops: whatever the vault NFTs catch, plus ProjectX points that could convert to tokens.
Risk is impermanent loss if $rHYPURR price moves significantly relative to HYPE. But since $rHYPURR is backed by a basket of NFTs with relatively stable floor prices (plus accumulated airdrops), the volatility is lower than typical shitcoin LP positions. Monitor the pool depth and APR. If ProjectX incentivizes this specific pair with bonus points, that's your signal to ape in.
Farm Multiple Hyperliquid Ecosystem Points Simultaneously
Use your $rHYPURR position as collateral or actively trade it across Hyperliquid protocols. Several projects in the ecosystem (beyond ProjectX) are running pre-token points campaigns. Trading volume, wallet activity, and holding specific ecosystem assets all count toward eligibility. By holding and transacting with $rHYPURR, you're marking yourself as an active Hyperliquid user.
Don't just mint and sleep. Swap between $rHYPURR and HYPE periodically. Provide liquidity, remove it, provide again. Use different Hyperliquid protocols that integrate with ERC-4626 vault tokens. The goal is maximizing on-chain fingerprint across the ecosystem while maintaining your core vault position. When these projects eventually airdrop, they'll filter for active users, not passive holders.
Ecosystem & Related Protocols
Rip Strategies runs on HyperEVM, the EVM-compatible layer of Hyperliquid. Hyperliquid itself is a Layer 1 with its own consensus (HyperBFT) and native perpetuals DEX. HyperEVM launched to bring EVM compatibility, which opened the door for vault protocols like Rip. The main tokens in the ecosystem are HYPE (the native token) and PURR (the Hypurr NFT collection token). ProjectX is the leading DEX on HyperEVM, and that's where $rHYPURR gets most of its trading volume.
The Hyperliquid ecosystem is small but growing fast. Other protocols include perp trading platforms, lending markets (still early), and NFT projects beyond Hypurr. The ecosystem's growth thesis depends on HYPE price performance and whether Hyperliquid can compete with Solana and Base for mindshare. Hypurr NFTs specifically have become the de facto "blue chip" collection here, which is why multiple projects airdrop to holders. Rip Strategies benefits directly from this dynamic. If the Hyperliquid ecosystem expands, vault TVL should grow proportionally.
Risk Assessment
Smart contract risk is real. The protocol is new, and there's no public audit report mentioned. The team has Fantom experience, which is a double-edged sword (Fantom had its moment, then faded). If the contracts have a bug or exploit, your vault shares could get drained. The vault holds NFTs, not stablecoins, so if Hypurr floor prices crash, your NAV tanks with it. There's no insurance fund or protocol-owned liquidity to backstop losses.
The bigger risk is opportunity cost. There's no confirmed native token airdrop from Rip Strategies. You're farming indirect exposure to ecosystem airdrops, which may or may not be valuable. If Hyperliquid ecosystem growth stalls or projects stop airdropping to Hypurr holders, the vault becomes a leveraged bet on NFT floor prices with no upside. The $460k TVL is tiny, which means liquidity risk if you need to exit quickly. ProjectX DEX volume for $rHYPURR might dry up during market downturns. Early depositors also face dilution risk if TVL explodes and new minters flood in before major airdrops. The vault redistributes airdrop value per share, so more shares outstanding = smaller cut per holder.
Frequently Asked Questions
Is there an airdrop for the Rip Strategies native token?▼
Do I have to own a Hypurr NFT to take part?▼
How do $rHYPURR holders get their airdrop rewards?▼
Is the Rip Strategies airdrop worth farming in 2025?▼
How much can I earn from Rip Strategies Hypurr Vault?▼
When is the Rip Strategies token launch date?▼
Can I lose money holding $rHYPURR vault shares?▼
What's the difference between holding Hypurr NFTs directly versus $rHYPURR?▼
This content is for informational purposes only and does not constitute financial advice. Always do your own research (DYOR) before participating in any airdrop or DeFi protocol.
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