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A mobile app most crypto natives hadn’t heard of six months ago just leapfrogged Trust Wallet in one of DeFi’s most competitive leaderboards. Invo, a social trading platform built on Hyperliquid, now sits at second place in 30-day builder code volume, trailing only Phantom on HyperTracker’s rankings.
The app recorded $1.49B in trading volume over the past 30 days, a 28% increase that pushed it past Trust Wallet and cemented its position as the fastest-growing front end in Hyperliquid’s ecosystem. It did this with 40,801 unique traders, more than double the count of the previous second-place holder.
Copy-trading meets TikTok marketing
Invo’s core product is deceptively simple. Users can mirror the trading strategies of top-performing traders on Hyperliquid’s perpetuals markets, essentially turning someone else’s alpha into a one-tap investment thesis. The app supports more than 170 trading pairs.
What separates Invo is how aggressively it has leaned into social media distribution, particularly on TikTok, to acquire users who might never have interacted with a decentralized exchange directly. The app’s user count dwarfs competitors in its tier, and its volume figures have remained consistently between $1.4B and $1.7B through late August 2026.
HyperTracker publicly acknowledged Invo’s trajectory on August 18, highlighting the platform’s “user-led growth initiatives” and its differentiation through social features rather than traditional wallet integrations.
What builder codes actually measure
For those unfamiliar with Hyperliquid’s architecture, builder codes are essentially referral tags baked into the protocol layer. When a front-end application routes trades through Hyperliquid, it stamps each transaction with its builder code. HyperTracker aggregates this data to show which interfaces are driving the most volume, giving the ecosystem a transparent scoreboard of who’s actually bringing users to the chain.
It’s a useful metric because it captures real economic activity, not just downloads or sign-ups. Invo’s $1.49B figure represents actual perpetual futures trades routed through its interface using the builder code INVO.
Phantom currently holds the top spot, which makes sense given its massive installed base as a multi-chain wallet. Trust Wallet, backed by Binance’s brand recognition and distribution, had been a comfortable second. Invo displacing it is roughly the equivalent of a scrappy startup outselling a major retailer in a specific product category.
The social trading thesis gets a stress test
The copy-trading model introduces a different set of risks. Users who mirror a top trader’s positions are essentially delegating their risk management to someone else. When that someone else is profitable, it feels like a cheat code. When they’re not, the losses compound across every follower simultaneously.
The TikTok distribution channel adds another layer of complexity. Younger demographics drawn in by social media promotions may not fully understand the mechanics of leveraged perpetual futures, which can liquidate positions rapidly in volatile conditions.
For Hyperliquid itself, Invo’s growth is an unambiguous positive. The protocol benefits from volume regardless of which front end generates it, and a diverse ecosystem of builder-code applications reduces dependency on any single interface.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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