Hyperdelta

Building options on @HyperliquidX

[Hyperdelta @HyperdeltaX]

Options trading is now live on Hyperliquid testnet!

Hyperliquid is building the house for all of finance.

We’re launching the premier on-chain options exchange on Hyperliquid, using @derivexyz’s proven infrastructure.

THREAD ⬇️

[Hyperdelta @HyperdeltaX]

Hyperliquid spent years building the house of all finance.

2026 is when convexity goes mainstream.

Hyperdelta brings options to Hyperliquid - try it out now: https://t.co/IjgiOQxHsg

[Hyperliquid @HyperliquidX]

Hyperliquid today looks very different from Hyperliquid a year ago. This time last year, the HyperEVM hadn’t even launched, and there were only a handful of early believers building exclusively on Hyperliquid. Now, there are hundreds of teams building, dozens of regional communities with local events, and trillions more in volume traded.

This was achieved without any external funding and giving all protocol fees to the community. Hyperliquid was built with a strong belief in returning to the core ethos of crypto  -  changing entrenched and predatory practices to be fair and permissionless.

This art piece is meant to celebrate Hyperliquid’s growing ecosystem and commemorate how far we’ve come as a community in building the house of all finance. You’ll find many of your favorite apps and teams interwoven in the piece if you zoom in. A special thank you to @Degen_Alfie for bringing the community to life. Many great teams didn’t make it due to limited space and time, but your contributions have not gone unnoticed!

Notable product and tech releases in 2025 included:
+ HyperEVM launch with HyperCore composability via precompiles and CoreWriter
+ Spot assets bridged by Unit
+ Fully permissionless validator set
+ Native utility to staking, with fee discounts for traders and permissionless HyperCore deployment capabilities for builders
+ Permissionless spot quote assets
+ Hypurr NFTs
+ USDH governance vote and launch by Native Markets
+ HIP-3 permissionless perp deployment
+ Native USDC integration
+ Portfolio margin pre-alpha launch
+ Assistance Fund HYPE officially burned

Compared to 2024, ATHs in 2025 reached:
+ $32B in 24h volume from $15B in 2024
+ $16B in open interest from $4B
+ $6B in TVL from $2B
+ $20M in 24h protocol revenue from $3.5M
+ 1.4M users from 300k

Excited to see what the ecosystem looks like another year from now. Thank you to all the builders, users, and supporters who have come together to push forward Hyperliquid’s vision.

[Hyperdelta @HyperdeltaX]

@gainzy222 gDelta

[D2 Finance @D2_Finance]

The VC chains are beginning to rust, Their CEX vaporware tokens have lost all our trust.

We’re flushing the memes, the ponzis and the copycat away, Wishing for real @HyperliquidX innovation this Christmas Day.

So @hypurr_co , @HypurrFi , @HyperdeltaX,.. come raise up your glass! 🥂

For @chameleon_jeff , and the House of Finance built to last.

To the builders, the believers, and all the @HyperliquidX fam, A very Merry Christmas! 🎄⚡️🤝

[Hyperdelta @HyperdeltaX]

@D2_Finance @HyperliquidX @hypurr_co @HypurrFi HyperChristmas!

[Hyperdelta @HyperdeltaX]

If you haven't yet, join our Telegram group at https://t.co/3ayUBgqkuG to get your access code

[Hyperdelta @HyperdeltaX]

The first round of options on Hyperdelta has now expired and been settled!

Since our testnet launch, we've processed around $5 million in notional volume across options and perpetuals.

Thank you to everyone who has tried the product!

[Chris Newhouse @CryptoDeFiGuy]

Has been awesome to advise this team on some of their product decisions and watch them cook internally for the past few quarters!

Having been in the options/trading space for a few years and seeing several iterations of the product, all I can say is I'm looking forward to the launch! 🫡

[Hyperdelta @HyperdeltaX]

@HyperFlash_hl @DeriveXYZ Hyperliquid

[Hyperdelta @HyperdeltaX]

Options trading is now live on Hyperliquid testnet!

Hyperliquid is building the house for all of finance.

We’re launching the premier on-chain options exchange on Hyperliquid, using @derivexyz’s proven infrastructure.

THREAD ⬇️

[Hyperdelta @HyperdeltaX]

@odbonchain @DeriveXYZ Options are great because you can't get liquidated

[Hyperdelta @HyperdeltaX]

@D2_Finance @DeriveXYZ 💚

[Hyperdelta @HyperdeltaX]

@Wajahat @DeriveXYZ Thank you sir 🫡

[Hyperdelta @HyperdeltaX]

Special thanks to: @chameleon_jeff @iliensinc @xulian_hl @domrom__ @dillonlin_ @0x_Atreyu @CryptoDeFiGuy @cainosullivan @kirbyongeo @0xVelocity88 @NarwhalTan @0xBroze @do_not_trade @D2_Finance @hufhaus9 @sershokunin @hyperliquidbull @DanDeFiEd @Jib0xD @0xBobdbldr @Wajahat @chandlerdkk @HatashiYamatomo @androolloyd @andyhyfi @0xOmnia @arnx813_ @PashiPas

[Hyperdelta @HyperdeltaX]

6. Many more markets coming soon (HYPE, equities, ...).

Try it out now on: https://t.co/IjgiOQxHsg

Hyperliquid

[D2 Finance @D2_Finance]

HIP-3 live on the https://t.co/NKEoYfmTZF front-end this weekend was not on our bingo card, but very welcome OFC 💚 — @chameleon_jeff back on the risk-on arc? We already knew he wasn’t 996, but this is bigger than $USDH, kek.

Some great takes from @ThinkingUSD’s latest pod which is a must listen:

– Longs perpetualization is the real trade you do not have to miss — $HYPE, with clear bias, remains the better proxy (buybacks + team alignment).
– Echoes @izebel_eth’s point on the over-gamblification arc — rhyming perfectly with the Fourth Turning (still @RaoulGMI’s best recommendation ever).
– Jez’s July essay aged like fine $HYPE @ 35 called by @smartestmoney .

However, as one of the largest options users in DeFi (> $500M notional traded), and clearly bias as well: Perps won’t fully replace options — they’ll converge on @HyperliquidX. ( BTW we can’t wait for @HyperdeltaX 💚)

Sure, once a 0DTE goes ITM, the payoff = a perp. And a perp is a much cleaner UX for the hyper-gamblers, sure — but that’s just one PMF.

Convex payoff would be still a thing for different users who want different exposures.

And in the perpetualization bet, options are actually best friends —
they add real base volume from folks like us who delta-hedge.

The “perps > options” narrative assumes the hyper-gambler is the only PMF, but our thesis is broader — Hyperliquid as the liquidity layer for ALL finance, not just hyper-gamblers.

The issue is you needed very liquid and integrated delta-1 to make options competitive that’s exactly what’s @HyperliquidX + coreWriter are enabled.

If Jeff’s right and $HYPE’s upper bound isn’t just @degennQuant FUD levels 🤣,then we’d better start thinking bigger as Hyper-liquid ecosystem.

The house of ALL finance.

High-margin hyper-gamblers are welcome, kek —
but there’s a lot more to build on Hyperliquid.

🧠 Also, @izebel_eth’s take:
🔗 https://t.co/eFIimscyip

📗 For context on the Fourth Turning arc:
https://t.co/lDe9WRUI7r