Will RION be listed on Binance Wallet's Bonding Curve TGE today at 16:00, and is it worth participating?
Written by: Alex Liu, Foresight News
On July 16 at 16:00, Binance Wallet will host its first Bonding Curve TGE, listing RION, the native token of Aptos ecosystem DEX project Hyperion. Participants must use Binance Alpha points and will dynamically price and provide liquidity for RION through the "Bonding Curve" algorithm.
Taking this opportunity, we will comprehensively review Hyperion's project positioning, technical features, financing history, data metrics, token economics, airdrop plan, and introduce other popular projects and overall activity in the Aptos ecosystem.
Protocol Features: Hybrid Order Book + AMM + Aggregation
Hyperion is a hybrid decentralized exchange (DEX) natively deployed on the Aptos chain, integrating order book matching and advanced automated market-making mechanisms. Its core design is based on a concentrated liquidity model (similar to Uniswap V3), allowing liquidity providers to allocate funds in specified price ranges, improving capital efficiency.
Hyperion also features a Directional Liquidity Market Maker (DLMM) mechanism that dynamically adjusts fund distribution within the x+y=k curve, enabling zero-slippage trading for high-volatility assets. This allows Hyperion to efficiently serve stablecoin pairs while also catering to long-tail asset trading needs, making it the first DEX on Aptos to simultaneously satisfy this scenario.
In June 2025, Hyperion launched an aggregation routing function, shifting its positioning from a single DEX to a full-chain liquidity hub. This feature intelligently splits trading paths, aggregating liquidity from all DEXs on Aptos to provide users with the best prices and lowest slippage.
Hyperion's official documentation states that its "fully on-chain hybrid order book-AMM DEX" natively utilizes Aptos' parallel execution engine, catering to both professional traders and retail investors. Additionally, Hyperion is developing limit order functionality and features a Vault and Drips incentive system, forming a complete trading infrastructure layer.
Financing: OKX, Maelstrom, and Other Institutions Involved
Hyperion quickly gained support from multiple institutions shortly after its inception. In April, Hyperion completed a strategic financing round led by OKX Ventures, with Aptos Labs (supported by the Aptos founding team) following. Subsequently, other capitals like Maelstrom (family office of BitMEX founder Arthur Hayes) and Mirana Ventures participated, though specific amounts were not disclosed.
Project Data: High Trading Volume and Active Users
In just a few months, Hyperion has quickly become the liquidity center of the Aptos ecosystem. It is currently the protocol with the highest trading volume on Aptos, with a cumulative on-chain transaction volume exceeding $6.5 billion. As of July, Hyperion's TVL (Total Value Locked) surpasses $130 million. Daily trading volume fluctuates between $125-150 million, even reaching $174 million in early July.
According to defillama data, Hyperion's total trading volume in the past 30 days exceeds $4 billion, ranking 12th among all DEXs.
It has conducted numerous user incentive activities with mainstream wallets and platforms. For example, a USDC DeFi activity with OKX Wallet, and trading mining and airdrop activities with Bitget Wallet and Gate Wallet, introducing users and liquidity to the protocol.
Hyperion launched a Drips points system, allowing traders, LPs, and community contributors to accumulate points through on-chain interactions, linked to airdrops and governance. These efforts have collectively promoted user growth: to date, Hyperion has nearly 940,000 total on-chain interaction participants.
Tokenomics: Dual Token Model and Distribution
Hyperion adopts a dual token model: the tradable native token RION (total supply of 100 million) and the governance token xRION generated through staking. RION is Hyperion's functional token used for fee payment, transaction settlement, and reward distribution. xRION is a non-transferable governance certificate that users can obtain by locking RION (up to 52 weeks), used for platform governance and new project launch pool quotas. The xRION weight is designed to linearly decrease over time, aiming to encourage long-term holding and continuous participation.
Hyperion has announced its genesis airdrop arrangement: 5% of RION will be used to reward early protocol participants. 3% will be released during token generation, with the remaining 2% linearly unlocked one month after TGE. RION's uses also include platform operations and ecosystem development rewards (the official documentation states that RION will be distributed as platform participation incentives, only based on actual on-chain activity, with inactive users not receiving additional tokens). RION will be issued through Binance Wallet's Bonding Curve mechanism, with its price determined by supply and demand, becoming a regular tradable asset after the activity ends.
Airdrop Details and Participation Method
Hyperion has set up community incentives and airdrop mechanisms to drive user engagement. As mentioned, its genesis airdrop covers protocol traders, liquidity providers, and community contributors, totaling 5% of RION. The key to obtaining airdrop eligibility is participating in the Hyperion ecosystem: users can earn Drips points through trading, providing liquidity, or completing community tasks. Points are directly linked to future token airdrops and governance weight, and can be used to exchange airdrop rewards or obtain Launchpad whitelist qualifications.
Hyperion's airdrop includes a lottery for 2022 Aptos airdrop addresses, with approximately 800 addresses randomly selected to be eligible to claim RION.
Participating in Binance Wallet's Bonding Curve TGE
This RION TGE is exclusively issued through Binance Wallet's Bonding Curve TGE, the first such activity for Binance Alpha. The subscription period is set for July 16, 2025, from 16:00-18:00, requiring Binance Alpha points for participation.
The activity rules are: each user can invest up to 3 BNB for subscription, with the smart contract dynamically calculating the current price based on the total RION sold. When a user confirms their investment, BNB is locked, and an equivalent amount of RION is allocated to their Alpha account; during this phase, RION cannot be withdrawn off-chain and can only be traded with other users on the activity page. Once an order is submitted, it cannot be canceled and will be executed if another user matches the order. After the activity ends, all unexecuted BNB will be automatically returned to the wallet, and users' RION will be unlocked and become freely tradable assets.
Simply put, it's "buy early and cheap, buy late and expensive", with only "internal trading" possible during the activity, and free trading allowed after it ends.
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