Official Hyperliquid announcements and HIP-3 ecosystem updates, normalized into one chronological feed.
By community request, you can now long or short $LAYER 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/LAYER
Biweekly update Tech + Based on testnet usage, user feedback, and load testing, the HyperEVM adopted two architectural changes on testnet: dual-block architecture and sender-agnostic native token transfers. + Multi-sig is now live on mainnet. Unlike most other chains, multi-sig is a primitive built natively into the Hyperliquid L1 instead of requiring smart contracts. Read more in the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-l1/multi-sig + As always, feedback and bug reports are appreciated Product + Improvements to automatic deposit reliability for email login, mobile token selector, allowing negative % values for TP/SL, pending deposit & withdrawal display, etc. Trading + VVV, JELLY, BERA, and TST perps were listed Community Highlights + Added a new channel in Discord to help track airdrops and rewards from other projects to the Hyperliquid community + Across Protocol integrated Hyperliquid + CMM (CoinMarketMan), a trading journal, added support for Hyperliquid + Pine Analytics shared an update on TVL hitting 2.5B USDC: https://flipsidecrypto.xyz/pine/hyperliquid-bridge-metrics-lxNyGO (Separately, note that Defillama changed how they track Hyperliquid's TVL, which has confused a number of users) + pvp is hosting a 10k to 100k trading competition: https://x.com/pvp_dot_trade/status/1885783125814636631 + The Farm shared its product roadmap: https://x.com/thefarmdotfun/status/1884749705848168864 + SKYGG updated their ecosystem map: https://x.com/SKYGG_Official/status/1885297011324575822 + This is just a selection of highlights. You can find more in the Discord server
By community request, you can now long or short $TST 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/TST
By community request, you can now long or short $BERA 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/BERA
Due to user feedback, partial liquidations have been enabled on testnet for user testing. As a reminder, the vast majority of liquidations on Hyperliquid are sent directly to the order book. This allows all users to compete for the liquidation flow, and allows the liquidated user to keep any remaining margin. Unlike CEXs there is no clearance fee on liquidations. For liquidatable positions larger than 100k USDC (10k USDC on testnet for easier testing), only 20% of the position will be sent as a market liquidation order to the book. After a block where any position of a user is partially liquidated, there is a cooldown period of 30 seconds. During this cooldown period, all market liquidation orders for that user will be for the entire position, i.e. the current behavior. Any feedback or bug reports on testnet partial liquidations are greatly appreciated.
By community request, you can now long or short $JELLY with up to 3x leverage. This perpetual contract uses onchain AMMs for the underlying oracle price. Beware of low liquidity, high volatility, and increased liquidation risk. 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/JELLY
By community request, you can now long or short $VVV 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/VVV
Noticing a trend that important projects have perps on Hyperliquid before anywhere else Informed traders can no longer afford to stay on CEXs
Regarding questions about the Arbitrum bridge: Different lockers run different code, and this is a test transaction by an independent locker around improved locker logic. Apologies for any confusion caused. All user funds are safe.
Biweekly update Tech + As mentioned previously, testnet balances have been reset to ensure a fair environment for testing trading, running a node, etc. This transition is still in process and should be fixed in a few days. In particular, withdrawals from the testnet bridge are still disabled. + As a reminder, to date, all mainnet validators have qualified based on testnet performance. The next phase of mainnet validators will be permissionless. Once validators are permissionless on mainnet, anyone who meets the self-delegation requirement will be able to register a validator and apply for the Delegation Program. + The number of allowed agents now only depends on the number of allowed sub-accounts, instead of requiring those sub-accounts to exist. + There is now a 100 USDC gas fee for creating a vault. This is in red text in the Create Vault modal. + The multi-sig UI is available for testing at app.hyperliquid-testnet.xyz/multisig as an advanced feature. Unlike most other chains, multi-sig is a primitive built natively into the Hyperliquid L1 instead of requiring smart contracts. Please read the Docs (https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-l1/multi-sig) to understand the details. Note that the UI is intended as a proof of concept for what interfaces can be built. For example, the multi-sig primitive supports all actions onchain even though the UI only supports a few. As always, any bug reports are greatly appreciated. Product + Prevented placing limit orders when at OI cap - previously, users who didn't realize there was an OI cap would place orders not realizing they would be cancelled. + Fixed default entry price for spot token transfers before trading is enabled. + Improved continuous loading of data when tab remains open for long periods of time. + Minor improvements to staking UI, funding comparison table, account dropdown, token selector, etc. Trading + S, MORPHO, TRUMP, MELANIA, ANIME, and VINE perps were listed + ANIME hyperp was listed + FTM perps were delisted Changes to Spot Deploy + Deployed tokens now allow a setting of the deployer fee share of trading fees paid in the token (i.e., on buys). The deployer fee share can only decrease. In particular, it can be set to zero to ensure that no fees are collected by the deployer in perpetuity. + Using HYPE as an anchor token in genesis now only includes staked HYPE. Excluding addresses from an anchor token will be enabled in the future. + Hyperliquidity is now optional for deployed assets. + wei decimals can now be up to 10, and size decimals can now be up to 5. + Note that the official UI does not yet support these new spot deploy configurations. + As a reminder, remember to test the exact configuration on testnet before using mainnet. If you have purchased a spot asset ID on mainnet and need assistance, please reach out. Community Highlights + Projects have been airdropping to HYPE stakers and other members of the Hyperliquid community, e.g., ANIME, TIME, GOD, and more + Hybridge added support for fiat on-ramp via credit card, Apple Pay, and Google Pay: https://x.com/HyBridgeHL/status/1883491980711194964 + Harmonix supports swapping token pairs on Hyperliquid: https://x.com/harmonixfi/status/1880184509905457327?s=46&t=FzB82NK1Ig2kb_HLvfwl3A + Build your own dashboard using https://hypervisor.gg/dashboard + SKYGG shared a map of the Hyperliquid ecosystem: https://x.com/SKYGG_Official/status/1879862273814204486 New ATHs + 24h volume: $22B + Open interest: $4.7B + 24h protocol revenue (fees + HLP): $9.5M
By community request, you can now long or short $VINE 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/VINE
ANIME has converted from a hyperp (pre-launch) to a regular perp.
By community request, you can now long or short pre-launch $ANIME with up to 3x leverage. Hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price. This makes the hyperp price more stable and less susceptible to manipulation, unlike usual pre-launch futures. Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: ANIME-USD will convert to a vanilla perp upon CEX spot listing. ANIME-USD is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism and how it differs from vanilla perps. NFA. https://app.hyperliquid.xyz/trade/ANIME
All-time highs two days in a row: Hyperliquid reached >$22B in 24h volume
MELANIA-USD has been converted to a normal perp using CEX spot prices for oracle sources. Trading now supports cross margin and up to 5x leverage.
New ATHs reached today include: + 24h volume: $21B + Open interest: $4.7B + 24h protocol revenue (fees + HLP): $9.5M
By community request, you can now long or short $MELANIA with up to 3x leverage. This perpetual contract uses onchain AMMs for the underlying oracle price. Beware of low liquidity, high volatility, and increased liquidation risk. 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/MELANIA
In accordance with its onchain mandate to securely preserve value and support the Hyperliquid community, the assistance fund will begin holding a diverse set of native assets on Hyperliquid. Selection criteria include a fair initial distribution, decentralized ownership, Hyperliquid-first native deployment, and a demonstrated positive impact for the Hyperliquid community. Among qualifying assets, the Hyper Foundation will initially decide on inclusion and relative representation. Over time, governance will take over this responsibility. The pilot asset added to the assistance fund is PURR. The assistance fund initially will hold 3M PURR, which accounts for approximately 0.5% of the total supply at the time of inclusion.
Even after a full day of CEX listings, TRUMP perps on Hyperliquid are doing 44% of the volume of Bybit: $3.25B vs $7.31B over 24h Users are waking up to the crypto-native way to trade
TRUMP-USD has been converted to a normal perp using CEX spot prices for oracle sources. Trading now supports cross margin and up to 10x leverage.
By community request, you can now long or short $TRUMP with up to 3x leverage. This perpetual contract uses onchain AMMs for the underlying oracle price. Beware of low liquidity, high volatility, and increased liquidation risk. 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/TRUMP
By community request, you can now long or short $MORPHO 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/MORPHO
By community request, you can now long or short $S 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/S
SOLV is the first token with Day 1 CEX and Hyperliquid spot listings. SOLV is launching simultaneously on the Hyperliquid L1 and BNB chain on Friday. These two SOLV assets will be linked once the HyperEVM is live. Solv Protocol allows Bitcoin holders to stake, earn yield, and interact with defi products via SolvBTC, a Bitcoin reserve token.
The black market for testnet HYPE is strongly condemned. As stated many times, testnet is meant to be an open environment for users and builders to test the technology. To ensure fairness, testnet will undergo the following changes in the coming days: + The existing testnet USDC faucet functionality will be removed from the ERC20 smart contract + The new testnet USDC faucet will only work for existing mainnet addresses to prevent spam + Testnet HYPE balances will be reset to genesis balances + Existing testnet USDC balances will be zeroed out for all addresses + Testnet validators will be able to apply for testnet delegations once the Hyper Foundation Delegation Program is live The next phase of mainnet validators will be permissionless. Once validators are permissionless on mainnet, anyone who meets the self-delegation requirement will be able to register a validator and apply for the Delegation Program.
In 2024, Hyperliquid 1) redefined the crypto meta to put community above all. With Hyperliquid, there are no investors, no market makers, and no fees paid to any company. Billions of dollars of value were created by a common vision and relentless hard work. This value went directly to hundreds of thousands of users, building a passionate community with real skin in the game. You all continue to inspire me every day. 2) became the first mature, permissionless financial hub where liquidity and UX matched the most liquid centralized venues. Recent highlights include $15B 24-hour volume, reaching 20% of Bybit futures and 8% of Binance futures volume. Unlike CEXs, Hyperliquid accomplished this as a user-owned protocol. 3) reinvented several of the most entrenched and predatory centralized practices to be crypto-aligned: fair, transparent, and accessible. Examples of the last point: 1) Listings have always been controlled by CEXs that extort projects through listing fees to maximize their own profits. This is absurd, as the community drives long term success. CEXs tempt projects with immediate liquidity but kill their ultimate vision. On Hyperliquid, listings are fair, permissionless, and transparent: anyone can bid in the auction to deploy a new spot asset. Projects that want to control their own fate increasingly see Hyperliquid as one-stop infrastructure for both the tech stack and liquidity. 2) Historically, CEXs capture the lion's share of revenue in crypto. On Hyperliquid, builders are already bootstrapping 9 figure businesses. Some are monetizing >$100k per day in revenue entirely onchain through builder codes, which are a primitive built into the L1 to allow customizable monetization for applications. Others carve out and own entire verticals in the budding ecosystem. Builders are tapping into Hyperliquid as their blockchain of choice, and I’m excited for more and more to join the ecosystem this year. -- In 2025, I expect the technology of Hyperliquid to close much of the gap towards housing all of finance. The maturing technology will include a growing and permissionless validator set while improving the world-class liquidity infrastructure that Hyperliquid provides. Some concrete predictions: 1) Multiple billion dollar applications/protocols will be built on Hyperliquid. They will own their full stack but tap into the ever-growing liquidity and community. 2) More than 50% of volume from new defi projects will happen natively on Hyperliquid. Hungry teams will value the integration of CEX-level liquidity with the permissionless accessibility of blockchains. 3) Millions of users will use Hyperliquid without knowing about the blockchain at all. Just like web2, users will experience the magic of their favorite products without thinking about the underlying technology. These predictions are ambitious, but as I look back and realize just how much we've accomplished in a year, I think they're quite reasonable. Back to work!
The multi-sig UI is available for testing at app.hyperliquid-testnet.xyz/multisig. This is an advanced feature. Unlike most other chains, multi-sig is a primitive built natively into the Hyperliquid L1 instead of requiring smart contracts. Please read the Docs (https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-l1/multi-sig) to understand the details. Note that the UI is intended as a proof of concept for what interfaces can be built. For example, the multi-sig primitive supports all actions onchain even though the UI only supports a few. As always, any bug reports are greatly appreciated.
Hyperliquid x ANIME ANIME is the token powering the open anime universe, backed by Azuki. HYPE stakers will receive an ANIME airdrop as part of their TGE. Follow @animecoin on X for updates. https://x.com/HyperliquidX/status/1878598088979570985
