Hyperliquid has been added to the MAS's Investor Alert List (IAL). IAL listing does not constitute a ban, an enforcement action, or a finding of wrongdoing. The IAL provides a list of entities that, based on information available to MAS, may be wrongly perceived as being licensed or in any other way authorised or regulated by MAS. Many large exchanges and defi protocols have been included on the IAL.
Hyperliquid is permissionless infrastructure. It is not, and has never claimed to be, licensed or authorised by MAS, and no one should regard it as such. Nothing about the network has changed. As on other permissionless blockchains, users maintain self-custody at all times, and transactions settle transparently and fully onchain.
The Hyperliquid ecosystem remains committed to engaging collaboratively and constructively with regulators and institutions globally and to supporting clear, well-designed frameworks for onchain finance.
Over the past 2 weeks, RWA trading on Hyperliquid has repeatedly broken records, surpassing $1.3B in open interest and $1.4B in weekend volume.
When traditional markets are closed, Hyperliquid is the premier venue for 24/7 price discovery on oil, metals, indices, and other essential assets. This is an important step towards housing all of finance.
HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments. There has been extensive user demand in both of these areas, and builders will likely think of novel applications as well.
Outcomes bring non-linearity, dated contracts, and an alternative form of derivative trading that does not involve leverage or liquidations. The outcome primitive expands the expressivity of HyperCore, while composing with other primitives such as portfolio margin and the HyperEVM.
Outcomes are a work in progress and currently only being tested on testnet. Canonical markets based on objective settlement sources will be deployed once technical development is complete. Canonical markets will be denominated in USDH. Pending user feedback, the infrastructure will be extended to permissionless deployment.
Hyperliquid has quietly achieved an important milestone of becoming the most liquid venue for crypto price discovery in the world. See below for side by side comparison of BTC perps on Binance (left) and Hyperliquid (right).
With HIP-3 teams leading the way, Hyperliquid has also grown to become the most liquid venue for perps on tradfi assets. Thank you to everyone's hard work as we upgrade the financial system and house all of finance.
Integrity has always been one of Hyperliquid's core values.
The house of all finance must be credibly neutral. This means no private investors, no market maker deals, and no protocol fees to any company.
The initial state of any blockchain is a crucial part of its story that can never be erased. The original ethos of Bitcoin was a permissionless network accessible to all. Hyperliquid's genesis distribution followed this spirit, going entirely to early users with core contributors excluded. The full distribution is verifiable onchain without obfuscation.
This principle of fairness frustrates a few users and builders who are used to special treatment. It means that Labs has zero tolerance for team members with integrity yellow flags. It means we do things the hard way as a community. But the world deserves a financial system owned by the people, where fairness to all users is in the DNA. Nothing else is worth building.
The Hyper Foundation is proposing a validator vote to formally recognize the Assistance Fund HYPE as burned, removing the tokens permanently from the circulating and total supply.
For context, the Assistance Fund converts trading fees to HYPE in a fully automated manner as part of the L1 execution. The Assistance Fund uses the system address 0xfefefefefefefefefefefefefefefefefefefefe. Similar to the zero address, the Assistance Fund system address has never had a private key with control over its funds. Funds are mathematically irretrievable without a hard fork.
By voting “Yes,” validators agree to treat the Assistance Fund HYPE as burned. No onchain action is required, as the tokens are already in a system address with no private key. This vote is binding social consensus to never authorize a protocol upgrade to access this address.
Voting process:
+ Validators should signal their intent in the governance forum by December 21 at 04:00 UTC (i.e., reply with Yes or No)
+ Users can stake to a validator who matches their view by December 24 at 04:00 UTC
+ The result will be based on stake-weighted consensus as of December 24 at 04:00 UTC
Those who can, do
Those who can't, fud
Before writing a paper maybe learn the definition of what you are studying? ADL does not "transfer pnl to HLP." It treats HLP entirely symmetrically with users. **ADL has nothing to do with HLP or backstop liquidations**
ADL did not "destroy $653 million of pnl" either. If you don't understand what you're talking about, you are not qualified to spread lies masked by fancy ML terms to sound smart. It's a shame that these are the "academics" that the industry looks up to.
Hyperliquid supports permissionless perps on anything. As all of finance moves onchain, there is a billion dollar opportunity to build a mobile app for non-crypto users.
The two keys are:
1. seamless fiat onboarding
2. a mobile UX that non-crypto users love
Hyperliquid and HIP-3 perps offer the full backend liquidity infrastructure. Solve 1 and 2, and you have a product that markets itself: global, permissionless finance at your fingertips. Builder codes allow monetization proportional to volume flowing through the app, fully configurable per-trade.
Hyperliquid’s ethos is to let talented, hungry teams reinvent the pillars of finance. For those who specialize in UX and building magical user experiences, nothing stands between you and the empires to be built.
Congratulations to @tradexyz, @ventuals, and @felixprotocol on their HIP-3 launches!
It's exciting to see things come together after months of hard work building on the core protocol and deployer sides. Permissionless perp deployments are a massive step in Hyperliquid's journey to house all of finance.
On Hyperliquid, hungry and ambitious builders step up to reinvent core pillars of finance. Perps will bring unprecedented capital efficiency and price discovery to global markets. HIP-3 empowers any builder to upgrade financial markets by leveraging Hyperliquid's battle-tested onchain infrastructure.
Thank you to the builders working to push the frontiers of onchain finance. Thank you to the users for being there from day one with your support.
You can now secure your HYPE (@HyperliquidX’s native token) and other HyperEVM ecosystem tokens directly in Ledger Wallet!
With Ledger + Ledger Wallet, you can:
→ Send & receive HYPE
→ Swap securely in-app
Hyperliquid is one of the fastest-growing L1 blockchains in crypto, with billions in weekly trading volume and over $5B in TVL - and HyperEVM, its Ethereum-compatible smart contract layer, is powering the next wave of on-chain DeFi innovation.
Now you can access it all securely and seamlessly with Ledger Wallet. 🔒
Over the last 30 days, $HYPE has accounted for nearly 30% of the revenue of all blockchains and protocols combined, but its market cap represents only 0.44% of the top 100 cryptocurrencies.
On Hyperliquid, there is no listing fee, no listing department, and no gatekeepers.
Spot deployment on Hyperliquid is permissionless. Anyone can deploy a spot asset by paying a gas fee in HYPE. Deployers can choose to receive up to 50% of trading fees on their spot pairs. Everything is transparent and verifiable onchain.
The full defi lifecycle includes building a project, launching a token, and trading that token. Every step of that journey can be done permissionlessly on Hyperliquid.
During the recent market volatility, the Hyperliquid blockchain had zero downtime or latency issues despite record traffic and volumes. HyperBFT consensus and execution handled the spike in throughput gracefully.
This was an important stress test proving that Hyperliquid's decentralized and fully onchain financial system can be robust and scalable. The system's risk and margining implementation functioned as designed, ensuring platform solvency throughout the extreme volatility.