Liquidity providers supply Algebra concentrated-liquidity positions (or Steer-managed Smart Pools); traders swap against them. NEST governance is locked for veNEST to direct emissions and earn protocol revenue.

An Algebra-fork concentrated-liquidity DEX. Holds the deepest kHYPE and wstHYPE liquidity on HyperEVM, used as a price source for those HYPE liquid-staking tokens.

Nest Exchange is a ve(3,3) MetaDEX on HyperEVM, providing concentrated-liquidity and Smart Pool trading for the Hyperliquid ecosystem.

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Nest Exchange

# Circulating supply Methodology

## Overview

Circulating supply measures the number of tokens that are currently available for trading on the open market. It excludes tokens that are locked, unvested, or held in the project’s own treasury.

Number of tokens currently available for trading on the open market.

Nest ExchangeNEST

Circulating supply

Circulating supply

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