JIO pre-IPO perpetual on Hyperliquid tops $1M daily volume as IPO closes
- —24-hour JIO-USDC volume was about $1 million, with open interest above $1.25 million
- —Mark price of $13.03 sits above the IPO band's upper-end dollar equivalent of roughly $11.80
- —Up to 5x leverage, USDC cash settlement, deployed via Trade.xyz under HIP-3
- —IPO size reaches about ₹30,213 crore at ₹1,065–1,119 per share
Why it matters: Pre-IPO perpetuals offer on-chain price discovery before listing and extend DeFi into traditional equity event risk.
Source: The Crypto Times