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ASXN vs LiquidSwap

Hyperliquid ecosystem comparison · Analytics & Data

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Different Focus Areas

Quick Take

ASXN Analytics dashboards for Hyperliquid — portfolio, vaults, revenue, and whale tracking on HyperCore, while LiquidSwap DEX aggregator spanning HyperEVM and HyperCore on Multi-Layer. They serve different niches in the Hyperliquid ecosystem.

Based on public data for ASXN and LiquidSwap. Key differentiators: layer deployment, fee structure, liquidity depth, and community adoption. Last reviewed: Mar 2026.

Overview

ASXN logo

ASXN

ASXN is a professional-grade analytics platform dedicated to the Hyperliquid ecosystem, offering deep data tooling for traders, vault managers, and researchers who need more than surface-level metrics. The platform provides comprehensive portfolio PnL tracking with historical performance breakdowns, vault analytics that surface attribution and risk metrics for Hyperliquid's on-chain vaults, and broad market data covering perpetuals, spot markets, and HyperEVM protocol activity. ASXN fills a genuine gap for serious participants: block explorers show raw data, but ASXN interprets it — translating on-chain activity into actionable intelligence. Traders can analyze their own performance over time, identify patterns in their strategy execution, and benchmark against the broader market. Vault followers gain meaningful transparency into track records and risk profiles before committing capital. Market researchers can monitor ecosystem-wide trends including liquidity distribution, notable wallet flows, and protocol health indicators. Built specifically for Hyperliquid rather than adapted from a generic multi-chain analytics framework, ASXN understands the protocol's unique architecture — the interplay between L1 perpetuals and HyperEVM — and delivers insights that general-purpose platforms simply cannot replicate.

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LiquidSwap logo

LiquidSwap

LiquidSwap, built by Liquid Labs, is a DEX aggregator on the Hyperliquid ecosystem that routes swaps across both HyperEVM decentralized exchanges and HyperCore's native order-book liquidity to guarantee users the best available price for every trade. Most DeFi aggregators operate within a single execution layer, but LiquidSwap's cross-layer architecture bridges the gap between HyperEVM's AMM-based DEXs and HyperCore's high-performance central limit order book — giving traders unified, one-click access to the deepest combined liquidity pool in the Hyperliquid ecosystem. Smart routing logic splits and sizes orders across multiple venues when beneficial, reducing price impact on larger trades and consistently capturing better execution than any single DEX could provide. Liquid Labs designed LiquidSwap to serve as the default swap infrastructure layer for HyperEVM users, abstracting away the complexity of choosing between trading venues, managing slippage, and navigating the boundary between execution environments. The result is a seamless, low-friction trading experience that competes on both price and speed — well-suited to a chain where ultra-low latency and high throughput are first-class features of the underlying architecture.

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Feature Comparison

FeatureASXN logoASXNLiquidSwap logoLiquidSwap
LayerHyperCoreMulti-Layer
CategoryAnalytics & DataDecentralized Exchanges
StatusActiveActive
Launch Year20252025
Websitehyperliquid.asxn.xyzliqd.ag
Twitter@asxn_r
GitHubNot publicNot public
VerifiedUnverifiedUnverified
Tags
analyticsportfolioPnLdashboards
DEX-aggregatorroutingcross-layer

Score Comparison

ASXNLiquidSwap
Open Source
ASXN
Not public
LiquidSwap
Not public
Verified
ASXN
Unverified
LiquidSwap
Unverified
Ecosystem Breadth
ASXN
4 tags
LiquidSwap
3 tags
Maturity
ASXN
Since 2025
LiquidSwap
Since 2025

Feature Matrix

FeatureASXN logoASXNLiquidSwap logoLiquidSwap
Open Source
Verified
Has Website
Has Twitter
Has GitHub
Active Status

Key Differences

Layer Architecture

ASXN operates on HyperCore (native on-chain perpetual orderbook), while LiquidSwap runs on Multi-Layer (spans multiple hyperliquid layers). This affects composability, transaction speed, and the types of integrations each protocol supports.

Category Focus

ASXN is focused on analytics & data, while LiquidSwap targets decentralized exchanges. They serve different user needs within the Hyperliquid ecosystem.

Unique Features

ASXN is distinguished by: analytics, portfolio, PnL, dashboards. LiquidSwap stands out with: DEX-aggregator, routing, cross-layer.

When to Use Each

Choose ASXN if you...

  • Want a analytics & data solution on HyperCore
  • Need features like analytics and portfolio
  • Need: Analytics dashboards for Hyperliquid — portfolio, vaults, revenue, and whale tracking

Choose LiquidSwap if you...

  • Want a decentralized exchanges solution on Multi-Layer
  • Need features like DEX-aggregator and routing
  • Need: DEX aggregator spanning HyperEVM and HyperCore

Ecosystem Integration

ASXN logo

ASXN

ASXN operates on HyperCore (native on-chain perpetual orderbook). Running on HyperCore gives it direct access to the native orderbook with minimal latency and maximum throughput.

LiquidSwap logo

LiquidSwap

LiquidSwap operates on Multi-Layer (spans multiple hyperliquid layers). Spanning multiple layers lets it combine the strengths of each, though integration complexity is higher.

Community Verdict

Which do you prefer?

Share your experience with ASXN or LiquidSwap to help others in the Hyperliquid community make better decisions.

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