Weekly Update Product & Tech + AQAv2 was activated for USDC + Recurring daily ETH, HYPE, and SOL binary outcomes are now supported Trading + Trade.xyz's SPCX market transitioned from pre-IPO perp (IPOP) to a regular perp + TON was delisted as part of its rebrand to GRAM + As part of the USDH sunset, all USDH-denominated markets on HyperCore, including HIP-3 DEXs Ventuals, Kinetiq, and Felix, will complete settlement by June 20. Users can swap USDH for USDC on the spot order book: https://app.hyperliquid.xyz/trade/USDH/USDC or swap USDH on the HyperEVM for USDC 1:1 with no fees via Across: https://across.to/?from=hyperevm&to=hypercore&inputToken=USDH&outputToken=USDC-SPOT New Teams on the HyperEVM & HyperCore (in no particular order) + Fomo integrated Hyperliquid via builder codes: https://x.com/fomo/status/2065102110673277330 + Markets.xyz Android app was released: https://x.com/Markets_xyz/status/2065115343824003563

is now live. 20x leverage, 24/7, 365.

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

has transitioned from an IPOP market and is now live with external pricing. 10x leverage, 24/7, 365.

Under AQAv2, USDC balance between the linked contract 0x6b9e773128f453f5c2c60935ee2de2cbc5390a24 and the treasury address 0xc20699185c15D0a2fD65779BB5d69f5b0B113c00 are balanced in a 1:9 ratio via system transactions that execute automatically on every HyperEVM block. Circle is serving as the technical deployer, with Coinbase as the treasury deployer. Under AQAv2, stablecoin deployers share approximately 90% of cost-adjusted reserve yield revenue on their Hyperliquid supply with the protocol. Reserve yield revenue accrues in 30 day intervals, automatically sent to the Assistance Fund 8 days after each interval completes. There is a built-in implementation grace period, with AQAv2 yield accrual beginning on August 26 and the first payment made on October 3.

Validators will vote on whether to delist TON around 9:00 UTC on 15 June. TON is rebranding to GRAM. If validators vote to delist an asset, the perps will settle to the 1 hour time weighted spot oracle price before the scheduled delisting voting time, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.

Max leverage and discovery bound settings have been updated for several TradeXYZ markets. For full details, refer to our documentation here: https://docs.trade.xyz

Hyperliquid now supports recurring daily ETH, HYPE, and SOL binary outcomes. Like BTC daily outcomes, these are automatically deployed and settled daily at 06:00 UTC to the Hyperliquid mark price of the underlying perp asset, e.g., ETH-USDC See Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/contract-specifications#recurring-outcomes

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

A note on the pre-IPO (IPOP) contract: TradeXYZ IPOP contracts are price-based perpetual contracts that track the market-implied expected price of one share of Class A or common stock. Neither share count nor market cap are an input to the market specification, oracle methodology, or conversion treatment. Our documentation had previously featured educational examples showing how a user might derive their own fair price in a scenario where they started with a view on both market cap and share count. Although these examples were included for context, we received feedback that they caused confusion, so we have removed them from the documentation. TradeXYZ does not use, publish, or rely on a share-count or market-cap denominator for or any other XYZ market. When SpaceX completes their IPO and sufficient external market data becomes available, is expected to transition to standard external oracle pricing, and the contract is expected to converge toward the public trading price.

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

Today we filed a comment with @paradigm on @USTreasury's proposed rule for stablecoin issuers. U.S.-regulated stablecoins power billions of dollars in daily trading, lending, and settlement. Our comment offers recommendations to preserve their critical role in onchain markets.

http://x.com/i/article/2064369559608377345

Weekly Update Product & Tech + See the API announcements channel re: updates to order modifies and snapshot-based websocket API endpoints New Teams on the HyperEVM & HyperCore (in no particular order) + Nansen integrated Hyperliquid perps via builder codes: https://x.com/nansen_ai/status/2064249419047080099 + Near Protocol integrated Hyperliquid perps via builder codes: https://x.com/NEARProtocol/status/2064347905025102082 + Rhea integrated Hyperliquid perps: https://x.com/rhea_finance/status/2062200556232565091 + TrueNorth, an agent-focused trading platform, launched using Hyperliquid: https://x.com/get_truenorth/status/2062160092489990166 Community Highlights + The NL community is organizing an event on June 22 in Amsterdam: https://x.com/hypurr_nl/status/2059549922702082140 + Users can redeem USDH on HyperEVM 1:1 for USDC on HyperCore with no fees via Across: https://x.com/nativemarkets/status/2063015221921489029, https://across.to/?from=hyperevm&to=hypercore&inputToken=USDH&outputToken=USDC-SPOT + WSJ featured an article on Hyperliquid: https://x.com/WSJ/status/2061833108488433768

has transitioned from an IPOP market and is now live with external pricing. 10x leverage, 24/7, 365.

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

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

Weekly Update Product & Tech + The permissionless validator set increased to 27 + USDT was added as a borrowable asset to portfolio margin Trading + HIP-3 markets reached a new ATH of $3.1B in open interest New Teams on the HyperEVM & HyperCore (in no particular order) + Talos integrated Hyperliquid for its institutional clients: https://x.com/talostrading/status/2059243635137196347 + Trust Wallet added support for HIP-4: https://x.com/TrustWallet/status/2060335232008474996 Community Highlights + hl.eco built a Hyperliquid dashboard: https://x.com/hl_eco/status/2058896726551867573 + The French HL community is organizing an event today in Paris: https://x.com/HyperliquidFR/status/2061354109882466762

RWA open interest on Hyperliquid reached a new ATH of $3B HIP-3 has set a new OI record every month since its launch in October 2025

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

We welcome today’s CFTC actions: approval of the first U.S.-listed perpetual derivatives contract, an accompanying Commission policy statement on the listing of perpetual derivatives, related interpretive guidance and no-action relief from the Market Participants Division, and a Staff Advisory on 24/7 Trading, Clearing, and Settlement, as a long-overdue acknowledgment that perpetual derivatives are a legitimate and essential tool for price discovery and risk management. For too long, regulatory ambiguity drove these markets offshore, depriving American traders and institutions of access to regulated venues and undermining U.S. competitiveness in the global derivatives markets. Today’s actions chart a new path forward. We look forward to engaging closely with the Commission to ensure that the framework it develops is workable not only for centralized intermediaries, but for the onchain protocols where the most significant perpetuals activity actually occurs.

The Pre-IPO Perpetual (IPOP) Market for Quantinuum is now live.

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

USDT has been enabled as borrowable for portfolio margin on testnet, and will be enabled on mainnet on the next network upgrade. As a reminder, any bugs relating to portfolio margin are eligible for mainnet-level bug bounties.

Weekly Update Product & Tech + Hyperliquid now supports canonical outcome (HIP-4) markets based on offchain events, with the first markets being May CPI year-over-year change and the June federal funds rate change. HIP-4 markets also now use USDC as the quote asset + Updated Docs on Account Type and Portfolio Margin to help answer user questions: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/account-abstraction-modes, https://hyperliquid.gitbook.io/hyperliquid-docs/support/faq/portfolio-margin Trading + BLAST, CHILLGUY, FTT, and TST were delisted New Teams on the HyperEVM & HyperCore (in no particular order) + Bounce deployed a leveraged token product: https://x.com/BounceTech/status/2056740906565320843 + MoonPay fiat onramp integrated HyperCore USDC: https://x.com/moonpay/status/2057814699480125807 + Worm terminal added support for HIP-4: https://x.com/wormwtf/status/2056414229193011698

Hyperliquid now supports canonical outcome markets based on offchain events. The markets are published by automated newsfeed software that validators run as part of their regular chain operations. Validators vote on deployment and settlement of canonical markets based on a variety of factors, including unambiguous rules, correctness, and subjective quality of the market.

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

is now live. 20x leverage, 24/7, 365.

Validators will vote on whether to delist BLAST, CHILLGUY, FTT, and TST around 25 May 2026 at 09:00 UTC, based on stalequant's methodology and community request. If validators vote to delist an asset, the perps will settle to the 1 hour time weighted spot oracle price before the scheduled delisting voting time, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.

Upcoming Earnings: Nvidia