everyone else makes you choose
a perps app
a stocks app
a prediction market
a wallet to hold it all
we put the whole thing in one account
0% fees as volume grows and every trade earns you rewards
trade everything, own everything
we’ve been quiet
not because we stopped
because we’ve been building the front door to onchain finance
DEX is going live soon
one account for crypto, perps, stocks, commodities, prediction markets, yield, and DeFi
we’ve been quiet
not because we stopped
because we’ve been building the front door to onchain finance
DEX is going live soon
one account for crypto, perps, stocks, commodities, prediction markets, yield, and DeFi
Tokenized stocks. Commodities. Yield strategies. Copy trading. Social features.
Every financial product. Onchain, selft custodial and on one account
The onchain financial terminal
Follow us, we’re building in public
Onchain is the future of finance
But right now it’s 10 chains, 5 wallets, and 50 apps just to do what centralized apps do in one click
We’re fixing that. Here’s what DEX is building
Spot, peros, predictions, memecoins, yield, RWAs, these aren’t separate industries
They’re all financial instruments, they all belong in one place
Onchain makes that possible, DEX makes it usable
Hyperliquid Annual Report 2025
Today, we're excited to release Hyperliquid's 2025 Annual Report.
What Hyperliquid, the core team, and hundreds of contributors have built this year is largely unprecedented in financial history. This report is our attempt to capture that extraordinary year with the rigor it deserves.
A few months ago, we created HRC because we felt a clear need to reduce information asymmetry and lower entry barriers for new participants through independent research. We hope this report helps do exactly that.
For us, it is a privilege to be part of this ecosystem and to have produced this work. Months of research, data work, debate, and collaboration across Four Pillars, GLC, and all our contributors went into every page. It means a lot to share it today, so please, let us know what you think and how we can improve the reporting going forward.
Enjoy the read. Some excerpts below, with the link to the full PDF.
Hyperliquid.