News

Biweekly update Staking + Staking went live on mainnet. >400M HYPE is currently staked + Nansen, ValiDAO, and HypurrScan added staking UIs: https://stake.nansen.ai/stake/hyperliquid, https://app.validao.xyz/stake/hyperliquid, https://hypurrscan.io/staking + ASXN and HypurrScan built staking dashboards: https://data.asxn.xyz/dashboard/hype-staking, https://hypurrscan.io/staking Trading + AI16Z, AIXBT, ZEREBRO, BIO, GRIFFAIN, and SPX perps were listed + Note that FTM perps will be delisted at 3:30 UTC on January 12 rather than 09:30 UTC Community Highlights + In the 2024 recap, you can find a non-exhaustive list of teams and projects who have contributed to the ecosystem. A sincere thank you to everyone who believed in the vision and played a part in Hyperliquid's growth: https://x.com/HyperliquidX/status/1876628922693251128 + BEATS, an AI agent music engine, launched: https://www.beatsfoundation.com/music + Tholos added support for multisig signing: https://x.com/TholosApp/status/1877098487923327133 + MayanFinance (powered by Wormhole) and Router Protocol integrated, offering bridges from new chains: https://x.com/MayanFinance/status/1876314021928071592, https://x.com/routerprotocol/status/1876701670123680219 + Awaken, tax software, added support for Hyperliquid transactions: https://x.com/AwakenTax/status/1873242101468807279 Looking back on the growth from 2023 to 2024 in numbers: + $1B 24h ATH volume to $15B (15x) + $178M open interest to $4.3B (24x) + $56M TVL to $2.1B (37x) + 31k users to 300k (9x) + 100 perps to 158 perps and 128 native spot assets + 24h revenue from trading fees and spot auctions exceeded $3.5M

Those who can, do Those who can't, fud

2024 in Review Hyperliquid started 2024 as a barely-known perp dex and ended the year as one of the largest decentralized financial hubs, processing billions in volume per day with a thriving ecosystem of builders, traders, and community members. Thank you to everyone who came together for a record-breaking 2024. All of this was achieved without taking any external funding and giving all trading fees to the community. Part of what makes Hyperliquid special is how the community is its strongest advocate and the largest beneficiary of its success. It’s humbling to see Hyperliquid’s vision resonate with so many of you. Hyperliquid was built with a strong belief in returning to the core ethos of crypto — changing entrenched and predatory centralized practices to be fair and permissionless. In 2025, even more builders and users will join the flourishing ecosystem on a mission to house all finance. Looking back on 2024, some milestones and metrics are highlighted in the post below. https://hyperfnd.medium.com/2024-in-review-28c472091320

By community request, you can now long or short $SPX with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/SPX

By community request, you can now long or short $GRIFFAIN with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/GRIFFAIN

FTM-USD will be delisted on January 12 at 09:30 UTC as part of the rebranding from FTM to S. All positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, FTM-USD perps will be delisted, and no new orders will be accepted.

By community request, you can now long or short $BIO with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/BIO

By community request, you can now long or short $ZEREBRO with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/ZEREBRO

By community request, you can now long or short $AI16Z and $AIXBT with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/AI16Z https://app.hyperliquid.xyz/trade/AIXBT

Staking is now live on mainnet. Staking is an important milestone for Hyperliquid because it allows the diverse community of HYPE stakers to collectively secure the network. Like other proof of stake networks, new blocks on Hyperliquid are proposed by validators in proportion to the HYPE staked to them. Staking is a serious responsibility for the Hyperliquid community. Users can stake HYPE to a trusted validator and earn staking rewards in HYPE. Users may consider different metrics when choosing which validators to stake to, such as uptime, commission, reputation, and community contributions. The Hyper Foundation will have a Delegation Program to support high-performing validators and further decentralise the network. More information about the program will be announced. Note that locked tokens may be staked, but their rewards are locked.

Biweekly update Tech + A staking UI was added to https://app.hyperliquid-testnet.xyz/staking on testnet to make it easier for users to test and familiarize themselves with staking Product + Added $ / % toggle to favorites bar + Added aggregation selector to full order book view on mobile + Enabled order book set size on click setting on mobile + Expanded TP/SL input fields proportionally when expanding the order form horizontally on desktop + Updated OI error message to be clearer, and more misc. UI improvements Trading + VIRTUAL, PENGU, USUAL, and FARTCOIN perps were listed + BLZ perps were delisted + OI reached a new ATH of >$4.3B + 24h volume reached a new ATH of >$15B Community Highlights + deBridge and Synapse integrated Hyperliquid, enabling cross-chain deposits + Sandwich Trading and Teal Street added support for Hyperliquid + Defillama began tracking Hyperliquid's fees on its dashboard: https://defillama.com/fees. Note that this does not include native spot auctions. + Jan organized a PURR Christmas donation to support a cat shelter: https://www.purrburn.fun/make-a-difference + As always, you can find more great content, analysis, etc. from the community in ⁠the community-research channel in Discord

Max leverage has been updated for various assets. Increases in max leverage reflect improved liquidity. Decreases in max leverage ensure platform stability during extreme volatility. Note that max leverage decreases do not affect the liquidation price of open positions until they are modified. To reduce positions that exceed initial margin requirements under the new max leverage, use reduce-only orders. The first non-reduce-only order that modifies a position will subject it to the new max leverage and maintenance margin requirements. As a reminder, maintenance margin is half of the initial margin at max leverage. E.g., if max leverage is 20x, the maintenance margin is 2.5%.

Another day, another ATH. Hyperliquid reached a new all-time high in 24h volume of >$15B.

By community request, you can now long or short $FARTCOIN with up to 3x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/FARTCOIN

Hyperliquid reached a new all-time high in 24h volume of >$13B.

BLZ-USD will be delisted on December 22 at 08:30 UTC. All positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, BLZ-USD perps will be delisted, and no new orders will be accepted.

By community request, you can now long or short $USUAL with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/USUAL

By community request, you can now long or short $PENGU with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/PENGU

Hyperliquid reached a new all-time high in open interest of >$4.3B.

By community request, you can now long or short $VIRTUAL with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/VIRTUAL

Biweekly update Tech + As posted in API Announcements, API keys (both named and unnamed agents) will no longer work after their deadline. When a key expires, it is highly recommended to generate a new key, as the nonce tracking information for expired agents are eventually pruned from the L1 state. Note that legacy API keys created before deadlines were implemented will expire on Dec 14. + As a reminder, the validator set is permissionless on testnet. There is a self-delegation requirement of 10k HYPE to register a new validator and be eligible for the active set. The top N validators by total delegated stake form the active set. Currently N=50 on testnet. + Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via ⁠Discord ticket. Thank you for your reports! Product + Misc UI improvements: require checkbox confirmation to Send to new address on the L1, mobile QR code modal improvements, etc. Trading + ALGO, SAND, IOTA, HYPE, ME, and MOVE perps were listed + LOOM perps were delisted + OI reached a new ATH of >$3.5B + 24h volume reached a new ATH of >$10B + 24h liquidations reached a new ATH of >$1B Genesis Event + The HYPE genesis event occurred smoothly on November 29 Community Highlights + Builders can use the testnet EVM explorers built by Parsec and Prince: https://testnet.purrsec.com/ and https://hyperevm-explorer.vercel.app/ + Ambit wrote about precompiles: https://medium.com/@ambitlabs/the-not-so-definitive-guide-to-hyperliquid-precompiles-f0b6025bb4a3 + Pine Analytics shared notes on the Arbitrum bridge reaching 1.5B in USDC deposits: https://x.com/PineAnalytics/status/1865867525021409638 + Octav added support for spot in their portfolio tracker: https://x.com/OctavFi/status/1863606594845786318

By community request, you can now long or short $MOVE with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/MOVE

By community request, you can now long or short $ME with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/ME

LOOM-USD will be delisted on December 12 at 08:30 UTC. All positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, LOOM-USD perps will be delisted, and no new orders will be accepted.

Hyperliquid reached a new all-time high in open interest of >$3.5B.

Hyperliquid reached a new all-time high in 24h volume of >$10B.

By community request, you can now long or short $HYPE with up to 3x leverage. Note that the HYPE-USD oracle is USDC-denominated instead of USDT-denominated. As with all other perps, HYPE-USD is USDC-margined. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/HYPE

Hyperliquid reached a new all-time high in 24h volume of >$8.5B. Open Interest also reached a new all-time high of >$3B.

By community request, you can now long or short $ALGO, $IOTA, and $SAND with up to 5x leverage. Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA. https://app.hyperliquid.xyz/trade/ALGO https://app.hyperliquid.xyz/trade/IOTA https://app.hyperliquid.xyz/trade/SAND

It's inspiring to see tens of thousands of community members secure life-changing wealth as part of the Hyperliquid genesis event. Importantly, none of these people were insiders. They: 1) believed in the vision for a better financial system when no one else would 2) acted on that conviction by using and building upon the nascent technology, bootstrapping an unstoppable financial network The Hyperliquid genesis pays homage to the original ethos of Bitcoin: ownership goes to the believers and doers, not rent-seeking insiders. For all you early believers, thank you for the unwavering faith and support. Hyperliquid would be nowhere without you all. I'm grateful and honored to be building alongside you. -- Looking back, we've come a long way. But looking ahead, there's so much further to go. Finance is humanity's greatest invention. It is the only effective way to coordinate human effort across time and space. Yet, the legacy financial system contradicts its underlying goal of empowering individuals: - it is opaque and centralized - it is owned and operated by privileged insiders - it doesn't embrace technological innovation to better serve users Hyperliquid is the evolution of finance. And Hyperliquid has not succeeded until it houses all of finance. If you're reading this now, you're still early. The new financial system welcomes you with open arms.