News

GE Vernova is now live. 10x leverage, 24/7, 365.

KORU is now live. 10x leverage, 24/7, 365.

The Pre-IPO Perpetual (IPOP) Market for UNITREE is now live. UNITREE is a pre-IPO market reflecting the market-implied expected price per A-share of Unitree Technology Co., Ltd., expected to list on the Shanghai STAR Market (code 688836). Unitree designs and manufactures quadruped and humanoid robots and robotic arms. After the IPO, the oracle will convert the CNY share price to USD at the prevailing offshore USD/CNH rate.

Markets take weekends off. The news doesn't. New @blockworksres research measured 614 weekends of live 24/7 trading in equities, commodities, FX, and indices on Hyperliquid. The first hard data on what happens when markets simply keep going. The weekend markets held up: weekday-tight spreads, weekday-cost fills, while everything else was closed. And the weekend prices knew where markets would reopen. They cut the typical reopening miss in half, and on big moves they called the direction right 94.9% of the time. Read the full report:

Weekly Update Product & Tech + TWAP orders now support a) Longer running time: extended to 7 days b) Dynamic suborder intervals: suborder intervals are calculated from the total size and running time set, with 30 seconds as the minimum c) Lower minimum order size at $100 notional per TWAP order, with minimum notional per suborder still at $10 + The initial implementation of HIP-4 permissionless deployments is live on testnet. See https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/hip-4-deployer-actions for details. Additional features will be iteratively rolled out, including configurable fees and more testnet templates. Feedback is appreciated. New Teams on the HyperEVM & HyperCore (in no particular order) + HL Eco developed a HyperEVM explorer: https://x.com/hl_eco/status/2083891684136386860 + Mass App added onboarding options from any CEX to HyperCore: https://x.com/massdotmoney/status/2082455996820267465 Community Highlights + Panel recordings from HL Global's summit can be found on YouTube: https://x.com/HLglobal_/status/2081924713320964477

TWAP orders now support the following features, fully onchain: + Trigger price: TWAP order activates when mark price reaches your set level + Max/min price: TWAP order terminates when mark price crosses your max price (for buys/longs) or min price (for sells/shorts) + Longer running time: Extended to 7 days + Dynamic suborder intervals: Suborder intervals are no longer fixed at 30 seconds. The interval is calculated from the total size and running time set, with 30 seconds as the minimum + Lower minimum order size: $100 notional per TWAP order; minimum notional per suborder is still $10

Distributions for the July 27 SKHYNIX pricing event have gone out. Each eligible liquidation was measured against a reference price of $1,115.5. Where the resulting amount is under 10,000 USDC, wallets have been credited in full, and no action is needed. Where it exceeds 10,000 USDC, an initial 9,999 USDC has been credited. We are required to conduct enhanced due diligence for amounts in excess of 10,000 USDC. Please reach us through support at http://app.trade.xyz/support to complete this process before August 15. Thank you to our users for their patience this week.

Kioxia (TSE: 285A) and SoftBank Group (TSE: 9984) are halted limit-up on the Tokyo Stock Exchange. GigaDevice (SSE: 603986) has likewise encountered limit-up conditions in today's Shanghai session. XYZ markets for these assets have transitioned to internal pricing until their respective underlying exchanges reopen following the weekend - Kioxia and SoftBank with two discovery bound resets, GigaDevice with one. Discovery bounds remain unchanged at 10%. For more information on internal pricing mechanics, refer to our documentation.

Trade[XYZ] reached new all-time highs with $8.1B in 24h volume.

On July 27 at 23:01 UTC, SKHYNIX mark price dropped from $1,127.9 to $917.25. This print was based on an executed trade which was relayed by multiple independent data providers. The XYZ oracle was live in external pricing and tracking that venue, which serves as the primary Korean pre-market venue. The oracle system worked as intended according to its specification. While the system performed as designed, users are understandably upset about liquidations that were triggered. Market integrity is among Trade[XYZ]'s core values, and we understand the trust of our users has been, and will continue to be, earned. With these values in mind, we have decided to cover liquidation losses attributable to this anomaly. Eligibility requirements will be conveyed soon, and distributions are anticipated to be completed in the coming days. This is a one-time discretionary decision and is not a guarantee of similar future action. Going forward, our pricing systems will be further improved to handle tail events. We are accelerating our review of how prices are formed, including revisiting assumptions on external venues, and taking into consideration the price formation which occurs on our own orderbooks, which carry increasingly meaningful depth and signal in relation to external sources. We will share further information soon.

Weekly Update Product & Tech + TWAP orders now support trigger price and max/min price Trading + HIP-3 markets reached a new ATH of $3.9B in open interest New Teams on the HyperEVM & HyperCore (in no particular order) + Dune added support for HyperCore: https://x.com/Dune/status/2079916078961131615 + Oku integrated Hyperliquid perps via builder codes: https://x.com/okutrade/status/2079919154149171308 + Talis, an AI-based Hyperliquid trading app, is live on iOS: https://x.com/talistrade/status/2079978762028851632 Community Highlights + Bloomberg wrote about Trade[XYZ]'s CXMT market: https://www.bloomberg.com/news/articles/2026-07-27/asia-s-biggest-ipo-of-2026-puts-crypto-shadow-market-to-the-test

@tradexyz reached new all time highs across the board: - Cumulative trading volume: $408.4B - Cumulative weekend trading volume: $26.07B - 24hr peak volume: $5.6B - Open interest: $3.9B - Daily unique traders (24hr peak): 60.6k

Prediction markets topped $50 billion in trading volume last month, and the biggest names in traditional finance are moving in. Today, with @multicoin, we filed a joint comment supporting the @CFTC 's proposed prediction markets framework. These markets have grown up. The proposed framework gives them what they deserve: durable standards, known in advance, under one federal rulebook. Our comment expresses support for the Commission’s approach and offers two recommendations to make an already strong rulebook even more targeted. Read it here:

http://x.com/i/article/2081710542939357184

CXMT has transitioned to a standard XYZ perpetual. 10x leverage, 24/7, 365.

CXMT is expected to IPO on the Shanghai STAR Board on July 27. The CXMT perpetual market's discovery bounds will adjust to 50% on July 26 11PM UTC in anticipation of this event.

CXMT is expected to IPO on the Shanghai STAR Board on June 27. The CXMT perpetual market's discovery bounds will adjust to 50% on July 26 11PM UTC in anticipation of this event.

GIGADEVICE is now live. 10x leverage, 24/7, 365.

Weekly Update Product & Tech + Initial spec for permissionless deployment of outcome markets (HIP-4) was shared above + Chase limit orders were added to app.hyperliquid.xyz New Teams on the HyperEVM & HyperCore + Arkham added support for HyperCore: https://x.com/i/status/2078133490747392454 Community Highlights + HL Global organized an institutional summit on July 16 in New York: https://x.com/HLglobal_/status/2079012386024174038 + The Malaysia community is organizing an event on July 30 in KL: https://x.com/Hyperliquid_MY/status/2076124385480462425

HIP-4 (outcome markets) will support permissionless deployment in a future network upgrade, first on testnet and then on mainnet. As with spot and perp deployments, the technology for outcome markets required sufficient battle testing in a validator-deployed setting before scaling to permissionless deployment. Permissionless deployments are especially important for the growth of outcome markets. The possible universe of tradeable outcomes is vast. The number of suitable discrete events for outcomes dwarfs the number of underlying assets for perps and spot tokenization. To ensure markets are high quality and well defined, validators will vote on outcome templates, which HIP-4 deployers will be able to use as the basis for permissionless deployments. The specifications for the templates will be stored and enforced onchain. The set of templates will reflect outcomes that correspond to events with sufficient liquidity and interest. Templates will be constrained by validator vote to be healthy and unambiguous public goods for the ecosystem. Each HIP-4 deployer will be able to instantiate any template in their deployments. Deployers are responsible for defining and settling each market in accordance with the settlement criteria specified in the template’s instantiation. There is no restriction against multiple deployers deploying the exact same template instantiations. Canonical markets may still be deployed directly by validators from time to time, but these are expected to be rare. These canonical markets will be determined by validator vote, and ideally will represent fewer than 10 outcomes or questions per year. The staking requirement for HIP-4 deployers will be 500k HYPE. The staking requirement is subject to slashing by validator vote in case markets are poorly defined, settled incorrectly according to the template, or remain incorrectly unsettled for more than 1 week. As with HIP-3, deployer stake is locked for 6 months. To unstake, a deployer must settle all markets. Therefore, particular consideration should be given to very long dated outcomes. Initially, each deployer will have an allocation of 100 outcomes (200 outcome tokens). Multi-outcome questions may consume multiple allocated outcomes. When an outcome is settled, its allocation is freed and can be reused. An auction mechanism to expand the allocation per deployer will be introduced as a follow-up feature. HIP-4 deployers will be able to set up to 50% fee share on their deployed markets. Fee configurability will be released as a follow-up feature. As previously announced, only AQAv2 quote tokens are eligible for HIP-4. All specifications described above are preliminary and subject to change based on feedback. A future announcement will be made once permissionless deployment is available on testnet and the Docs are updated.

The Pre-IPO Perpetual (IPOP) Market for CXMT is now live. CXMT is a pre-IPO market reflecting the market-implied value of 1 ordinary share (A-share) of ChangXin Technology Group Co., Ltd. (SHE: 688825) in USD terms. CXMT manufactures semiconductor DRAM memory chips. After the IPO, the oracle will convert the underlying stock’s Renminbi price to USD at the prevailing FX rate.

Weekly Update Product & Tech + See the API announcements channel re: updates to priority fees Trading + HIP-3 markets reached a new ATH of $3.6B in open interest + CASHCAT perps were listed + ANSEM spot trading, deposits, and withdrawals went live via Unit Protocol New Teams on the HyperEVM & HyperCore (in no particular order) + HyperLink prime broker went live, powered by Hyperliquid: https://x.com/hyperlink_xyz/status/2074544219197198647 Community Highlights + Jeff did a podcast with VALR re: their builder codes integration: https://www.youtube.com/watch?v=7FxR2AfQESI

Real-world asset (RWA) open interest on Hyperliquid reached a new ATH of $3.6B Total OI reached a new high for 2026 of $11B

By community request, you can now long or short $CASHCAT perps with up to 3x leverage. Trading is on low leverage and isolated margin only. 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/CASHCAT

SKHY has transitioned to a standard XYZ perpetual. 10x leverage, 24/7, 365.

Thanks for having me on the podcast! It was a great conversation about a new category of integration: the first centralized exchange directly tapping into Hyperliquid's onchain infrastructure.

Writing the software isn't running the market. The same should hold true onchain. With the right rules, the CFTC can modernize these markets, keep builders in the United States, and give customers more control over their funds. Today, with @phantom, we filed a joint comment letter with the CFTC with recommendations on how to achieve that result. Read it here:

http://x.com/i/article/2075233075642892288

SKHY (xyz:SKHY) is available to trade, 24/7, 365. SKHY tracks the value of 1 SK Hynix American Depositary Share — the Nasdaq-listed security representing one-tenth of a SK Hynix common share held on deposit with a depositary bank. It launches as a pre-IPO contract and converts to a standard XYZ perpetual after the ADS begins trading on Nasdaq. TradeXYZ’s existing SKHYNIX market (xyz:SKHX) is unchanged. It tracks 1 common share of SK Hynix Inc. (KRX: 000660) and continues to operate normally against the company’s primary listing in Seoul. The two markets are related but distinct: 10 ADSs represent 1 common share, and the ADS may trade at a premium or discount to the Seoul line. As always, participants are advised to understand a market’s underlying before trading.

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