The Growth of RWA Trading
->Pertumbuhan Dagangan RWA
RWA contracts have become a major force on Hyperliquid. The data shows they now account for a larger share of trading volume than any other asset class on the platform. Tokenized real-world assets — things like bonds, real estate, or commodities turned into digital tokens — are seeing growing demand from traders.
Translation:Kontrak RWA telah menjadi kuasa utama di Hyperliquid. Data menunjukkan ia kini menyumbang bahagian yang lebih besar daripada volum dagangan berbanding kelas aset lain di platform. Aset dunia sebenar bertoken — seperti bon, hartanah, atau komoditi yang ditukar menjadi token digital — menyaksikan permintaan yang semakin meningkat daripada pedagang.
Note: "major force" -> "kuasa utama". "account for" -> "menyumbang". "trading volume" -> "volum dagangan". "asset class" -> "kelas aset". "turned into" -> "ditukar menjadi". "growing demand" -> "permintaan yang semakin meningkat".The jump to 32% of activity marks a significant milestone for the category. It suggests users are increasingly comfortable trading these assets on Hyperliquid's decentralized exchange.
Translation:Lonjakan kepada 32% aktiviti menandakan pencapaian penting bagi kategori ini. Ia menunjukkan pengguna semakin selesa berdagang aset ini di pertukaran terdesentralisasi Hyperliquid.
Note: "jump" -> "lonjakan". "milestone" -> "pencapaian penting". "comfortable" -> "selesa". "decentralized exchange" -> "pertukaran terdesentralisasi".Why Revenue Lags Behind Volume
->Mengapa Hasil Ketinggalan Di Belakang Volum
Despite the heavy trading, RWA contracts brought in only $11.2 million of the $169 million total revenue. That's a fraction of what other products contribute. The numbers point to a fee structure that favors high volume over high margins.
Translation:Walaupun dagangan yang sibuk, kontrak RWA hanya membawa masuk $11.2 juta daripada jumlah hasil $169 juta. Itu adalah sebahagian kecil daripada sumbangan produk lain. Angka-angka menunjukkan struktur yuran yang mengutamakan volum tinggi berbanding margin tinggi.
Note: "heavy trading" -> "dagangan yang sibuk" or "dagangan yang banyak". "brought in" -> "membawa masuk". "fraction" -> "sebahagian kecil". "point to" -> "menunjukkan". "favors" -> "mengutamakan".RWA contracts likely carry lower fees than Hyperliquid's other offerings. Without official comment from the company, the exact reasons remain unclear. But the gap between volume share and revenue share is hard to ignore.
Translation:Kontrak RWA mungkin membawa yuran yang lebih rendah daripada tawaran Hyperliquid yang lain. Tanpa komen rasmi daripada syarikat, sebab sebenar masih tidak jelas. Tetapi jurang antara bahagian volum dan bahagian hasil sukar untuk diabaikan.
Note: "likely" -> "mungkin". "offerings" -> "tawaran". "exact reasons" -> "sebab sebenar". "gap" -> "jurang". "hard to ignore" -> "sukar untuk diabaikan".What the Numbers Mean for Hyperliquid
->Apa Maksud Angka-Angka Ini untuk Hyperliquid
The platform is clearly attracting users with RWA products. The trading activity shows strong demand. But the revenue side raises questions about how Hyperliquid will monetize this growing segment.
Translation:Platform ini jelas menarik pengguna dengan produk RWA. Aktiviti dagangan menunjukkan permintaan yang kukuh. Tetapi bahagian hasil menimbulkan persoalan tentang bagaimana Hyperliquid akan mengewangkan segmen yang semakin berkembang ini.
Note: "clearly" -> "jelas". "attracting" -> "menarik". "strong demand" -> "permintaan yang kukuh". "raises questions" -> "menimbulkan persoalan". "monetize" -> "mengewangkan". "growing segment" -> "segmen yang semakin berkembang".If RWA contracts continue to dominate trading, the company may need to adjust its fee model. Or it could accept lower margins in exchange for higher overall volume. Either way, the next quarterly report will show whether RWA's revenue share catches up to its trading activity.
Translation:Jika kontrak RWA terus mendominasi dagangan, syarikat mungkin perlu menyesuaikan model yurannya. Atau ia boleh menerima margin yang lebih rendah sebagai pertukaran untuk volum keseluruhan yang lebih tinggi. Walau apa pun, laporan suku tahunan seterusnya akan menunjukkan sama ada bahagian hasil RWA mengejar aktiviti dagangannya.
Note: "dominate" -> "mendominasi". "adjust" -> "menyesuaikan". "accept" -> "menerima". "in exchange for" -> "sebagai pertukaran untuk". "catches up to" -> "mengejar". Now combine all into content with HTML tags. Also title translation: "Hyperliquid RWA Contracts Surge to 32% of Trading Activity in Q2" -> "Kontrak RWA Hyperliquid Melonjak ke 32% Aktiviti Dagangan pada S2" (or "Suku Kedua" but we can use S2 as abbreviation). We'll use "S2" for consistency. Meta description: "Hyperliquid's RWA contracts now make up 32% of trading activity but only 6.6% of revenue. A look at the numbers from Q2." -> "Kontrak RWA Hyperliquid kini merangkumi 32% aktiviti dag
