{"id":2007,"date":"2026-09-05T16:47:26","date_gmt":"2026-09-05T07:47:26","guid":{"rendered":"https:\/\/a1-journal.jp\/?p=2007"},"modified":"2026-09-05T16:47:27","modified_gmt":"2026-09-05T07:47:27","slug":"hyperliquid%ef%bd%9c%e6%99%82%e4%be%a1%e7%b7%8f%e9%a1%8d%e7%b4%84200%e5%84%84%e3%83%89%e3%83%ab%e8%a6%8f%e6%a8%a1%e3%81%b8%e8%ba%8d%e9%80%b2%e3%81%97%e3%81%9fdex%e7%8e%8b%e8%80%85%e3%81%ae%e5%85%a8","status":"publish","type":"post","link":"https:\/\/a1-journal.jp\/?p=2007","title":{"rendered":"Hyperliquid\uff5c\u6642\u4fa1\u7dcf\u984d\u7d04200\u5104\u30c9\u30eb\u898f\u6a21\u3078\u8e8d\u9032\u3057\u305fDEX\u738b\u8005\u306e\u5168\u8c8c\u3068\u6b21\u4e16\u4ee3\u30ec\u30a4\u30e4\u30fc1\u30b7\u30b9\u30c6\u30e0\u306e\u9769\u65b0\u6027"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>2026\u5e749\u6708\u4e0a\u65ec\u306e\u6697\u53f7\u8cc7\u7523\uff08\u4eee\u60f3\u901a\u8ca8\uff09\u5e02\u5834\u306b\u304a\u3044\u3066\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u53d6\u5f15\u3092\u4e2d\u5fc3\u306b\u7206\u767a\u7684\u306a\u6210\u9577\u3092\u9042\u3052\u308bHyperliquid\uff08\u30cf\u30a4\u30d1\u30fc\u30ea\u30ad\u30c3\u30c9 \/ HYPE\uff09\u304c\u3001\u30ec\u30a4\u30e4\u30fc1\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u304a\u3088\u3073\u5206\u6563\u578b\u53d6\u5f15\u6240\uff08DEX\uff09\u306e\u52e2\u529b\u56f3\u3092\u5857\u308a\u66ff\u3048\u7d9a\u3051\u3066\u3044\u308b\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u672c\u7a3f\u57f7\u7b46\u6642\u70b9\uff082026\u5e749\u6708\u4e0a\u65ec\uff09\u306b\u304a\u3051\u308b\u30cd\u30a4\u30c6\u30a3\u30d6\u30c8\u30fc\u30af\u30f3\u300cHYPE\u300d\u306e\u4fa1\u683c\u306f<strong>1BTC\uff1d\u306a\u3089\u306c1\u30c8\u30fc\u30af\u30f3\u3042\u305f\u308a\u7d0480\u301c84\u30c9\u30eb\u524d\u5f8c<\/strong>\u3067\u63a8\u79fb\u3057\u3066\u304a\u308a\u3001\u5faa\u74b0\u4f9b\u7d66\u91cf\u3092\u30d9\u30fc\u30b9\u306b\u3057\u305f\u6642\u4fa1\u7dcf\u984d\u306f\u304a\u3088\u305d180\u5104\u301c210\u5104\u30c9\u30eb\u898f\u6a21\uff08\u7d042.8\u5146\u301c3.3\u5146\u5186\u898f\u6a21\uff09\u306b\u5230\u9054\u3002\u6697\u53f7\u8cc7\u7523\u5168\u4f53\u306e\u6642\u4fa1\u7dcf\u984d\u30e9\u30f3\u30ad\u30f3\u30b0\u3067\u3082\u30c8\u30c3\u30d710\u570f\u5185\u3092\u8996\u754c\u306b\u6349\u3048\u308b\u306a\u3069\u3001\u65e2\u5b58\u306e\u4e2d\u592e\u96c6\u6a29\u578b\u53d6\u5f15\u6240\uff08CEX\uff09\u3092\u8105\u304b\u3059\u5727\u5012\u7684\u306a\u30d7\u30ec\u30bc\u30f3\u30b9\u3092\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. \u5727\u5012\u7684\u306a\u6642\u4fa1\u7dcf\u984d\u3068\u5e02\u5834\u30b7\u30a7\u30a2\u306e\u80cc\u666f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u304b\u3064\u3066\u4e00\u904e\u6027\u306e\u30c8\u30ec\u30f3\u30c9\u3068\u3057\u3066\u8a9e\u3089\u308c\u308b\u3053\u3068\u306e\u591a\u304b\u3063\u305f\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6DEX\u5e02\u5834\u306b\u304a\u3044\u3066\u3001Hyperliquid\u306f\u72ec\u81ea\u306e\u7d4c\u6e08\u570f\u3068\u9a5a\u7570\u7684\u306a\u6d41\u52d5\u6027\u3067\u982d\u4e00\u3064\u629c\u3051\u305f\u5b58\u5728\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>DEX\u5e02\u5834\u306b\u304a\u3051\u308b\u5727\u5012\u7684\u306a\u30b7\u30a7\u30a2<\/strong>\uff1a\u6697\u53f7\u8cc7\u7523\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5e02\u5834\u5168\u4f53\u306b\u304a\u3044\u306630%\u3092\u8d85\u3048\u308b\u30b7\u30a7\u30a2\u3092\u5e38\u6642\u7dad\u6301\u3057\u3066\u304a\u308a\u30012\u4f4d\u4ee5\u4e0b\u306e\u7af6\u5408\u3092\u5f15\u304d\u96e2\u3057\u3066\u30ab\u30c6\u30b4\u30ea\u30fc\u30ea\u30fc\u30c0\u30fc\u3068\u3057\u3066\u306e\u5730\u4f4d\u3092\u4e0d\u52d5\u306e\u3082\u306e\u306b\u3057\u3066\u3044\u308b\u3002<\/li>\n\n\n\n<li><strong>\u5f37\u56fa\u306a\u30d7\u30ed\u30c8\u30b3\u30eb\u53ce\u76ca\u3068\u8cb7\u3044\u623b\u3057\u30fb\u9084\u5143\u30e2\u30c7\u30eb<\/strong>\uff1a\u53d6\u5f15\u624b\u6570\u6599\u306a\u3069\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u53ce\u76ca\u306f\u5e74\u9593\u30d9\u30fc\u30b9\u3067\u6570\u767e \u09ae\u09bf\u09b2\u09bf\u09af\u09bc\u09a8\uff08Millions\uff09\u30c9\u30eb\u898f\u6a21\u306b\u9054\u3057\u3001\u5805\u5b9f\u306a\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5185\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3084\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u6301\u7d9a\u6027\u3092\u652f\u3048\u308b\u8ca1\u52d9\u57fa\u76e4\u304c\u6a5f\u95a2\u6295\u8cc7\u5bb6\u3084\u30d7\u30ed\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u539a\u3044\u4fe1\u4efb\u3092\u96c6\u3081\u3066\u3044\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2. \u306a\u305c\u9078\u3070\u308c\u308b\u306e\u304b\uff1f \u72ec\u81ea\u30ec\u30a4\u30e4\u30fc1\u3068\u300cHyperBFT\u300d\u30b7\u30b9\u30c6\u30e0\u306e\u5b9f\u529b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Hyperliquid\u304c\u3053\u308c\u307b\u3069\u306e\u898f\u6a21\u3068\u6d41\u52d5\u6027\u3092\u7372\u5f97\u3067\u304d\u305f\u6700\u5927\u306e\u8981\u56e0\u306f\u3001\u4e00\u822c\u7684\u306a\u6c4e\u7528\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\uff08\u30a4\u30fc\u30b5\u30ea\u30a2\u30e0\u306eL2\u306a\u3069\uff09\u306b\u4f9d\u5b58\u305b\u305a\u3001<strong>\u81ea\u793e\u958b\u767a\u306e\u72ec\u81ea\u30ec\u30a4\u30e4\u30fc1\u30c1\u30a7\u30fc\u30f3<\/strong>\u3092\u57fa\u76e4\u306b\u69cb\u7bc9\u3055\u308c\u3066\u3044\u308b\u70b9\u306b\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u5c02\u7528\u8a2d\u8a08\u306eL1\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3<\/strong>\uff1a\u30aa\u30fc\u30c0\u30fc\u30d6\u30c3\u30af\u65b9\u5f0f\u306e\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u53d6\u5f15\u306b\u7279\u5316\u3057\u3066\u6700\u9069\u5316\u3055\u308c\u3066\u304a\u308a\u3001\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u306e\u51e6\u7406\u901f\u5ea6\u3001\u4f4e\u9045\u5ef6\uff08\u30ed\u30fc\u30e9\u30c6\u30f3\u30b7\u30fc\uff09\u3001\u305d\u3057\u3066\u9ad8\u3044\u30b9\u30b1\u30fc\u30e9\u30d3\u30ea\u30c6\u30a3\u3092\u6975\u9650\u307e\u3067\u8ffd\u6c42\u3057\u3066\u3044\u308b\u3002<\/li>\n\n\n\n<li><strong>\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u30a2\u30eb\u30b4\u30ea\u30ba\u30e0\u300cHyperBFT\u300d<\/strong>\uff1a\u72ec\u81ea\u306e\u9ad8\u901f\u5408\u610f\u5f62\u6210\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u63a1\u7528\u3059\u308b\u3053\u3068\u3067\u3001\u4e2d\u592e\u96c6\u6a29\u578b\u53d6\u5f15\u6240\u306b\u5339\u6575\u3059\u308b\u8d85\u9ad8\u901f\u306a\u7d04\u5b9a\u30b9\u30d4\u30fc\u30c9\u3068\u3001\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u306a\u3089\u3067\u306f\u306e\u900f\u660e\u6027\u30fb\u81ea\u5df1\u7ba1\u7406\u6027\u3092\u9ad8\u3044\u6b21\u5143\u3067\u4e21\u7acb\u3055\u305b\u3066\u3044\u308b\u3002<\/li>\n\n\n\n<li><strong>\u62e1\u5f35\u3092\u7d9a\u3051\u308b\u6a5f\u80fd\u7fa4\uff08HIP-1 \/ HIP-2 \/ HIP-3\uff09<\/strong>\uff1a\u30d1\u30fc\u30da\u30c1\u30e5\u30a2\u30eb\uff08\u7121\u671f\u9650\u5148\u7269\uff09\u53d6\u5f15\u3060\u3051\u3067\u306a\u304f\u3001\u30b9\u30dd\u30c3\u30c8\u53d6\u5f15\u3001\u30cd\u30a4\u30c6\u30a3\u30d6\u306a\u8cc7\u7523\u767a\u884c\u3001\u3055\u3089\u306b\u306f\u4f1d\u7d71\u91d1\u878d\u306e\u8cc7\u7523\u3084\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3001\u682a\u4fa1\u6307\u6570\u7b49\u3092\u53d6\u308a\u8fbc\u3080\u62e1\u5f35\u30d7\u30ed\u30c8\u30b3\u30eb\uff08HIP\u30b7\u30ea\u30fc\u30ba\uff09\u3092\u6b21\u3005\u3068\u5b9f\u88c5\u3002\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u4e0a\u306e\u7dcf\u5408\u91d1\u878d\u30a4\u30f3\u30d5\u30e9\u3078\u3068\u9032\u5316\u3092\u9042\u3052\u3066\u3044\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">3. \u4eca\u5f8c\u306e\u5c55\u671b\uff1aCEX\u306e\u9818\u57df\u3078\u8feb\u308b\u300c\u6b21\u4e16\u4ee3\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u91d1\u878d\u300d\u306e\u65d7\u624b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u6a5f\u95a2\u3084\u30d7\u30ed\u306e\u30c8\u30ec\u30fc\u30c0\u30fc\u306e\u9593\u3067\u3082\u3001\u300c\u30b9\u30d4\u30fc\u30c9\u3068\u6d41\u52d5\u6027\u3067\u306fCEX\u306b\u52a3\u3089\u306a\u3044\u304c\u3001\u30ab\u30a6\u30f3\u30bf\u30fc\u30d1\u30fc\u30c6\u30a3\u30ea\u30b9\u30af\uff08\u53d6\u5f15\u6240\u7834\u7dbb\u30ea\u30b9\u30af\uff09\u304c\u306a\u3044\u300d\u3068\u3044\u3046\u30e1\u30ea\u30c3\u30c8\u304c\u518d\u8a8d\u8b58\u3055\u308c\u3001Hyperliquid\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u306f\u52a0\u901f\u3057\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5927\u898f\u6a21\u306a\u30c8\u30fc\u30af\u30f3\u306e\u30a2\u30f3\u30ed\u30c3\u30af\u3084\u30de\u30af\u30ed\u7d4c\u6e08\u306e\u5909\u52d5\u3068\u3044\u3063\u305f\u30ea\u30b9\u30af\u8981\u56e0\u3092\u62b1\u3048\u3064\u3064\u3082\u3001\u72ec\u81ea\u306e\u30b7\u30b9\u30c6\u30e0\u512a\u4f4d\u6027\u3068\u5727\u5012\u7684\u306a\u30e6\u30fc\u30b6\u30fc\u652f\u6301\u3092\u6b66\u5668\u306b\u9032\u5316\u3092\u7d9a\u3051\u308bHyperliquid\u3002\u4e2d\u592e\u96c6\u6a29\u3068\u5206\u6563\u578b\u306e\u5883\u754c\u7dda\u3092\u6eb6\u304b\u3059\u305d\u306e\u52d5\u5411\u306f\u3001\u4eca\u5f8c\u306e\u30b0\u30ed\u30fc\u30d0\u30eb\u91d1\u878d\u30a4\u30f3\u30d5\u30e9\u306e\u672a\u6765\u3092\u5360\u3046\u4e0a\u3067\u3001\u3082\u306f\u3084\u7121\u8996\u3067\u304d\u306a\u3044\u6700\u5927\u306e\u30c8\u30d4\u30c3\u30af\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p 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