Let’s take another look at this timing @Theo_Network YT and thbill’s value 1. Bad news The latest community discussion on hyperliquid shows that the second season airdrop for hyper might have been canceled (announced in December 2025, shifted to team unlock + revenue buyback of HYPE). It’s now turned into an ecosystem token airdrop. 2. Using theo, besides farming your own points with YT, farming hyper’s ecosystem with thbill is also a good option. After bridging into hyper via stargate, you can already trade thBILL spot/perp directly on the Hyperliquid platform, deposit into the vault, or use it as collateral. Plus, thbill offers an annualized yield of 3~5% and accumulates airdrop points. Using thbill as collateral for contracts on hyperliquid gives you a natural advantage. 3. On the YT side, the implied interest rate has grown to 3.4%, and the implied APY has dropped to 8.8%, showing signs of stabilizing.