Hey there, crypto enthusiasts! If you’ve been keeping an eye on the decentralized finance (DeFi) space, you’ve probably heard some buzz about Pear Protocol and its bold move to integrate with HyperLiquid. On July 23, 2025, research analyst Shaunda Devens dropped a fascinating thread on X that breaks down this strategic pivot. Let’s dive into the details and explore what this means for the future of DeFi trading!

What’s the Big Pivot All About?

Pear Protocol started as a market-neutral, relative-value trading platform, initially launching on platforms like GMX and Symmio. It offered a cool feature: single-click long-short pair trading with up to 60x leverage. But here’s the twist—Pear has now shifted its focus to HyperCore, HyperLiquid’s backbone. This move leverages HyperLiquid’s whopping 80% share of decentralized perpetual trading volumes, positioning Pear for some serious growth.

The integration with HyperCore, which is still in closed beta, has already sparked excitement. It’s racking up $12.8 million in weekly volume, hinting at strong demand. Plus, HyperLiquid’s HIP-3 initiative is rolling out 280+ new markets annually, and Pear is stepping in with flexible cross-collateral pair trading options that HyperLiquid lacks. It’s like Pear is bringing a unique spice to the table!

Facing Challenges Head-On

No journey is without hurdles, and Pear has faced its share. The platform saw declining volumes on Symmio (dropping from $1 billion to under $100 million monthly) and the complete shutdown of Vertex. Ouch! But here’s the impressive part: Pear has shown resilience, maintaining weekly volumes above $10 million in 77% of weeks since September 2024. That’s a testament to its adaptability and solid user base.

Funding and Tokenomics: A Closer Look

Pear isn’t just surviving—it’s thriving with fresh capital. The protocol recently secured $3–4 million from institutional venture capitalists within the HyperLiquid ecosystem. The deal came with a 15% premium on the 30-day TWAP (time-weighted average price) and a 12-month linear vesting period starting in September 2025. This shows strong confidence from investors!

On the tokenomics front, Pear is sweetening the pot for holders. With an 80% revenue-sharing model, holders can enjoy a juicy 20% staking APY. There’s also talk of governance-driven buyback-and-burn mechanisms, which could boost the token’s value over time. Currently, Pear trades at a circulating price-to-sales (P/S) ratio of 13x ($6.6 million market cap) and 30x fully diluted valuation (FDV) at $17 million. Pretty compelling numbers, right?

Volume Projections and Growth Scenarios

Shaunda’s thread dives into some exciting projections. By benchmarking Pear’s historical market share from GMX and Symmio, the team estimates it could capture 10% of these levels on HyperLiquid. Add in a time-series forecast for HyperLiquid’s growth, and you’ve got three scenarios to chew on:

• Bull Case: Pear snags 0.92% of HyperLiquid’s volume, predicting $980 million weekly trading volume.
• Base Case: A 0.5% capture leads to $550 million weekly.
• Bear Case: Even at 0.08%, Pear could still hit $100 million weekly.

These numbers suggest a bright future, with potential annual revenues ranging from millions to hundreds of millions depending on the scenario. The implied FDV at a 30x P/S ratio could see Pear’s value soar!

Why This Matters for DeFi Fans

This pivot isn’t just a technical upgrade—it’s a game-changer for DeFi traders. Pear’s Cross-Leg Engine optimizes collateral and reduces risks through correlation analysis, offering a safer yet high-leverage trading experience. With HyperLiquid’s robust infrastructure and Pear’s innovative approach, we might see a new standard for decentralized trading platforms.

For those interested in the nitty-gritty, Shaunda points to a full report on Blockworks Research for valuation projections, token unlock schedules, and more. It’s a goldmine of info if you’re into deep dives!

Final Thoughts

Pear Protocol’s shift to HyperLiquid is a bold step that could redefine DeFi trading. With solid funding, resilient volumes, and a promising tokenomics model, it’s a project worth watching. Whether you’re a trader, investor, or just a crypto curious, this pivot offers a front-row seat to innovation in action. What do you think—will Pear ripen into a DeFi powerhouse? Drop your thoughts in the comments, and let’s chat!

Stay tuned to meme-insider.com for more updates on meme tokens and blockchain trends. Happy trading!