$THUNDER Buy

Before HYPE, there was Thunderhead.

In 2023 a six-person team built Hyperliquid's stats dashboard and signed it with their logo. The signature got removed. The logo is still buried in the code.

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Surface

Everyone knows Hypurr.

Hyperliquid is one of the biggest stories in crypto. Billions in volume, the airdrop everyone talks about, a cat on every banner.

Almost nobody knows what's underneath. Keep going.

Aug 19, 2025

They sold on top.

Valantis acquires stHYPE, the liquid staking token Thunderhead built for HYPE. Over $200M was staked in it.

Thunderhead's own sign-off: 4.5 years, a young team, zero outside capital, over $10M in revenue. No token. Ever.

Nov 29, 2024

HYPE launches.

The biggest airdrop crypto has seen. Hyperliquid goes from a trader's secret to a household name overnight.

Nov 21, 2024 ยท eight days earlier

The signature comes off.

A single commit titled "Remove footer (#36)" takes Thunderhead's credit off Hyperliquid's stats page. One line deleted.

app/page.tsx
  <Header />
  <Main />
- <Footer />
commit 0ac3e3c on GitHub
Oct 21, 2024

stHYPE.

Thunderhead announces liquid staking for HYPE, with Nansen, Figment and Chorus One running stake behind it. It becomes the OG LST on Hyperliquid.

Jun 26, 2023

Built By Thunderhead.

The stats frontend gets its first commit. In the box: a footer crediting Thunderhead, a license in their name and their logo saved as an image file.

LICENSE
MIT License

Copyright (c) 2023 Thunderhead

components/common/footer/index.tsx
<Flex as='a' href='https://thunderhead.world'>
  Built By
  <Image alt='Thunderhead' src='/img/logo.png' />
</Flex>
footer/index.tsx on GitHub
May 21, 2023

First line of code.

Thunderhead starts the backend that powers Hyperliquid's stats: volume, users, open interest, liquidations, HLP. A year and a half before the airdrop, when almost nobody was watching.

$ git log --reverse --format="%ad %s" --date=short
2023-05-21 Implemented dataprocessing script
hyperliquid-stats on GitHub

Still there.

hyperliquid-dex/hyperliquid-stats-web/public/img/thunderhead-icon.svg

Committed June 26, 2023. Never deleted. This exact file is the $THUNDER logo.

Built ByThunderhead
Hyperliquid stats footer, 2023โ€“2024
$THUNDER

Hyperliquid kept the logo. Thunderhead never made a token. So the community dug it up. No team allocation, no roadmap, just the signature that was there first.