News

Biweekly update Tech + As posted in API Announcements, API keys (both named and unnamed agents) will no longer work after their deadline. When a key expires, it is highly recommended to generate a new key, as the nonce tracking information for expired agents are eventually pruned from the L1 state. Note that legacy API keys created before deadlines were implemented will expire on Dec 14. + As a reminder, the validator set is permissionless on testnet. There is a self-delegation requirement of 10k HYPE to register a new validator and be eligible for the active set. The top N validators by total delegated stake form the active set. Currently N=50 on testnet. + Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via ⁠Discord ticket. Thank you for your reports! Product + Misc UI improvements: require checkbox confirmation to Send to new address on the L1, mobile QR code modal improvements, etc. Trading + ALGO, SAND, IOTA, HYPE, ME, and MOVE perps were listed + LOOM perps were delisted + OI reached a new ATH of >$3.5B + 24h volume reached a new ATH of >$10B + 24h liquidations reached a new ATH of >$1B Genesis Event + The HYPE genesis event occurred smoothly on November 29 Community Highlights + Builders can use the testnet EVM explorers built by Parsec and Prince: https://testnet.purrsec.com/ and https://hyperevm-explorer.vercel.app/ + Ambit wrote about precompiles: https://medium.com/@ambitlabs/the-not-so-definitive-guide-to-hyperliquid-precompiles-f0b6025bb4a3 + Pine Analytics shared notes on the Arbitrum bridge reaching 1.5B in USDC deposits: https://x.com/PineAnalytics/status/1865867525021409638 + Octav added support for spot in their portfolio tracker: https://x.com/OctavFi/status/1863606594845786318

By community request, you can now long or short $MOVE with up to 5x leverage. 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/MOVE

By community request, you can now long or short $ME with up to 5x leverage. 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/ME

LOOM-USD will be delisted on December 12 at 08:30 UTC. All positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, LOOM-USD perps will be delisted, and no new orders will be accepted.

Hyperliquid reached a new all-time high in open interest of >$3.5B.

Hyperliquid reached a new all-time high in 24h volume of >$10B.

By community request, you can now long or short $HYPE with up to 3x leverage. Note that the HYPE-USD oracle is USDC-denominated instead of USDT-denominated. As with all other perps, HYPE-USD is USDC-margined. 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/HYPE

Hyperliquid reached a new all-time high in 24h volume of >$8.5B. Open Interest also reached a new all-time high of >$3B.

By community request, you can now long or short $ALGO, $IOTA, and $SAND with up to 5x leverage. 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/ALGO https://app.hyperliquid.xyz/trade/IOTA https://app.hyperliquid.xyz/trade/SAND

It's inspiring to see tens of thousands of community members secure life-changing wealth as part of the Hyperliquid genesis event. Importantly, none of these people were insiders. They: 1) believed in the vision for a better financial system when no one else would 2) acted on that conviction by using and building upon the nascent technology, bootstrapping an unstoppable financial network The Hyperliquid genesis pays homage to the original ethos of Bitcoin: ownership goes to the believers and doers, not rent-seeking insiders. For all you early believers, thank you for the unwavering faith and support. Hyperliquid would be nowhere without you all. I'm grateful and honored to be building alongside you. -- Looking back, we've come a long way. But looking ahead, there's so much further to go. Finance is humanity's greatest invention. It is the only effective way to coordinate human effort across time and space. Yet, the legacy financial system contradicts its underlying goal of empowering individuals: - it is opaque and centralized - it is owned and operated by privileged insiders - it doesn't embrace technological innovation to better serve users Hyperliquid is the evolution of finance. And Hyperliquid has not succeeded until it houses all of finance. If you're reading this now, you're still early. The new financial system welcomes you with open arms.

https://t.co/EaiFWk9VGS

Weekly Update Tech + As mentioned in the ⁠API announcements channel, the tick formula was updated to allow all integer prices regardless of number of sig figs. For example, after the change 123456 will be a valid price for BTC-USD. + Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via Discord ticket. Thank you for your reports! Product + Misc UI improvements: Language in withdrawal modal was updated to explain transferring from Perps to Spot balances, improved notification dismissal animations on mobile, use trigger price instead of BBO for Stop Limit order warnings, etc. Trading + XLM and CHILLGUY perps were listed + OI reached a new ATH of >$2.5B Community Highlights + Parsec built a testnet HyperEVM explorer: https://testnet.purrsec.com/. Please share feedback with the Parsec team + Notifi supports alerts for token prices, liquidation risks, and more on HL: https://x.com/notifinetwork/status/1859794066407371068?s=46&t=FzB82NK1Ig2kb_HLvfwl3A + https://pvp.trade/ is running a trading competition: https://x.com/pvp_dot_trade/status/1861427350447005775 + ASXN has written several reports on Hyperliquid: https://data.asxn.xyz/ Points + 16.4M points were distributed for activity in May, October, and early November. Sybil clusters were slashed, with their points multiplied by 2% or 20% based on the scale of sybil activity. Genesis Event + The HYPE genesis event will take place at 07:30 UTC on November 29. + Note that higher network congestion on the L1 is expected around the genesis event. Deposits & withdrawals may also take longer than usual due to congestion on the Arbitrum bridge around the genesis event.

Please see the following message from the Hyper Foundation twitter account: https://x.com/HyperFND/status/1862007773191708760 Blog post: https://hyperfnd.medium.com/hype-genesis-1830a4dc2e3f Note that higher network congestion on the L1 is expected around the genesis event, which will occur at 07:30 UTC on November 29.

The genesis event for HYPE will occur at 07:30 UTC on November 29. Hyperliquid has grown to include the largest decentralised exchange by volume, open interest, and active users. Liquidity rivals the top centralised exchanges. The user experience bridges the seamless trading on CEXs with the self-custodial ideals of a fully onchain DEX. Hyperliquid represents the ethos of crypto and decentralised finance, with the technical innovations needed to bring all finance onchain without sacrifices. While Hyperliquid has come a long way, there is much further to go. Over the past year, the scope of Hyperliquid has expanded from a DEX to a full financial system. 1. At its base, Hyperliquid is a performant, modern L1. Powered by HyperBFT, a highly optimised proof of stake consensus algorithm, disparate nodes can achieve consensus at 200k transactions per second with ~0.2 second time to finality. As the native token, HYPE will be the staked asset securing HyperBFT. 2. The perpetuals and spot DEX are examples of native components built into Hyperliquid. These components are optimised high-throughput financial primitives with which users and smart contracts can interact. For example, HYPE/USDC will be traded on the native spot order book. 3. The HyperEVM will bring full programmability to native components and general-purpose onchain state alike. HYPE will be the gas token of the HyperEVM. 4. The community includes an ever-growing set of passionate and talented builders. Hyperliquid will serve as the infrastructure layer for the next generation of trustless and performant finance built by the community. Unlike other chains, Hyperliquid features onchain monetization for user applications that is built directly into the protocol. As the native asset of the protocol, HYPE will be a crucial building block for defi applications. The HYPE genesis event marks a key milestone in the journey, unlocking core functionality at every level of the stack. For more information, see the blog post: https://hyperfnd.medium.com/hype-genesis-1830a4dc2e3f

IMPORTANT NOTICE for users who recently started using the Hyperliquid L1 and those who previously missed out: You can review and accept the Genesis Event Terms & Conditions until 23:59 UTC on November 28. Visit https://hyperfoundation.org/genesis

Hyperliquid’s vision is to create a fair new financial system for all. All users are important, no matter their volume or account value. Real users receive fewer points when large-scale sybil farms try to game the system to receive more than their fair share. Investigation by different research teams identified that over 27,000 addresses operated by approximately 100 individuals attempted to receive disproportionately more points through large-scale and systematic inorganic behavior. These addresses’ points were multiplied by 2% or 20% based on the scale of sybil activity. Affected addresses include a line on the Points page saying, “Sybil behavior detected.” The end result is a larger fraction of points going to real users. In addition, 8M points were distributed for activity in May and 8.4M points for activity in October and early November. In sum, the final number of points is 57.9M.

By community request, you can now long or short $CHILLGUY with up to 3x leverage. 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/CHILLGUY

By community request, you can now long or short $XLM with up to 5x leverage. 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/XLM

Update Tech + See ⁠API announcements in Discord or TG for improvements to builder codes and api-related updates + Please continue to submit any findings for the testnet EVM bug bounty with a minimal reproducible example via Discord ticket. Thank you for your reports! Trading + New ATHs were reached in open interest ($2B) and 24h volume ($6B) + PURR and PNUT perps were listed Community Highlights + Shoutout to HypurrCo x HyperActive x CL for hosting an awesome event at DevCon: https://x.com/hypurr_co/status/1857369316003545138 + Jeff discussed what drives him, the vision for Hyperliquid, and how Hyperliquid stands apart from other blockchains in this podcast: https://www.youtube.com/watch?v=WeRh589I76o + Copin supports copy trading on HL: https://x.com/Copin_io/status/1853347962837143926 + Using builder codes, Okto supports trading on their mobile app: https://x.com/okto_web3/status/1853437295329997176 + Vooi, a perp dex aggregator, integrated HL: https://x.com/vooi_io/status/1859115693679001684 + Katoshi supports alerts for their HL trading bots, which are compatible with TradingView: https://x.com/KatoshiAI/status/1856747332324282673 + Hyperterminal displays trading details of top leaderboard users: https://x.com/hyterminal/status/1858199880466129034 + Pine Analytics shared stats on the Arbitrum bridge: https://x.com/PineAnalytics/status/1855977363596595501 + Monk made a map of early builders in the HL ecosystem: https://x.com/defi_monk/status/1856094194294473178 Points + Points will be distributed next week and will include activity in May, October, and early November

FINAL REMINDER: The period to accept the Genesis Event Terms & Conditions has been extended for 24 hours to give a final chance to those who forgot. https://hyperfoundation.org/genesis

By community request, you can now long or short $PNUT with up to 5x leverage. 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/PNUT

The past few days have seen record highs in OI ($2B) and 24h volume ($6B). OI hit new ATHs five days in a row.

The period to accept the Genesis Event Terms & Conditions has been extended until November 13 at 04:00 UTC to give one last chance to those who forgot. https://hyperfoundation.org/genesis

Today is the last day to review and accept the Genesis Event Terms. Confirm your participation at http://hyperfoundation.org/genesis.

Thanks for having me on, Kevin! Enjoyed discussing Hyperliquid’s backstory and vision

When Shift Happens podcast with Jeff Jeff discusses what drives him, the vision for Hyperliquid, and how Hyperliquid stands apart from other blockchains to support a full-fledged financial ecosystem. https://www.youtube.com/watch?v=WeRh589I76o

Hyperliquid reached a new all-time high in open interest of >$1.5B.

As a reminder, the deadline to review and accept the Genesis Event Terms is November 11 at 23:59 UTC. Note that the set of users eligible to participate in the genesis distribution has been increased to reflect the latest onchain data. Confirm your participation at http://hyperfoundation.org/genesis.

Yesterday's CEX listing drama highlights that even after a decade of defi, CEXs still monopolize liquidity. Builders must make a tough choice between rewarding their community and paying for distribution. Hyperliquid's vision is a unified platform to build applications and trade assets. No compromises. No rent-seeking gatekeepers.

Hyperliquid is bringing the entire financial stack onto one platform. As a proof of concept, PURR now has: 1. Native token ledger 2. Spot order book 3. Built-in oracle 4. Perps trading Each feature is built upon the previous. All live composably on the L1.