News

Bi-weekly update Trading + Reached new ATHs in 24h volume: $29B, OI: $16B, and 24h fees: $7.7M + PROVE perps were listed New Teams on HyperEVM (in no particular order) + Anchorage institutional custody for HYPE: https://x.com/anchorage/status/1955645436410417418 + Seda oracles for crypto and tradfi: https://x.com/sedaprotocol/status/1952746416310210956 + Rysk finance covered calls: https://x.com/ryskfinance/status/1953421264988623279 + Theo thBILL basket of US Treasury bills: https://x.com/theo_network/status/1954205977965690910 + Hyperstable borrow pools: https://x.com/HyperstableX/status/1953487403273916618 + Matcha Meta and Ooga Booga DEX aggregators: https://x.com/matchametaxyz/status/1955333880938119421, https://x.com/0xoogabooga/status/1955332822714970342 + Squid multichain router: https://x.com/squidrouter/status/1956012858967204116 New Teams on HyperCore (in no particular order) + BasedApp mobile app on iOS: https://x.com/basedapphq/status/1956026623104573740 + Liquid mobile app on iOS: https://x.com/liquidperps/status/1952701122952507613 Community Highlights + HypeRPC's hackathon in Seoul opened up for registrations: https://x.com/hlh_build/status/1952671705467650497 + There was a community organized event at Sunway University in Malaysia: https://x.com/Hyperliquid_MY/status/1956244363862008313 + Jeff shared some recommendations for MMs on Hyperliquid: https://x.com/chameleon_jeff/status/1954125933885173895

Hyperliquid reached new all-time highs with $29B in 24h volume and $7.7M in 24h fees.

By community request, you can now long or short $PROVE 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/PROVE

Bi-weekly update Product & Tech + The Hyper Foundation is running a non-validating node to provide low latency data access. For more information, see: https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/nodes/foundation-non-validating-node + For more technical updates, please reference the API announcements channel Trading + OI reached a new ATH of $15.8B + BONK and SPX6900 spot trading, deposits, and withdrawals are now live, thanks to Unit + kDOGS, OGN, REQ, and STG were delisted based on onchain validator vote + Refunds were distributed for users who experienced issues during API server congestion on July 29. Please see the previous announcements for more details. New Teams on HyperEVM (in no particular order) + Bridging: Axelar, Bungee, Hyperflow, Reactive Network + Pendle fixed yield: https://x.com/pendle_fi/status/1950526842634703177 + Blueberry tokenized HLP: https://x.com/blueberryFDN/status/1946318593517392092 + Spectra Finance fixed rates and yield leverage: https://x.com/spectra_finance/status/1948722798899183721 + Alchemy RPC and WebSockets: https://x.com/Alchemy/status/1949909651056980272 + Covalent indexing: https://x.com/Covalent_HQ/status/1949904401201762628 New Teams on HyperCore (in no particular order) + Dexari mobile app on iOS and Android: https://x.com/DexariDotCom/status/1948127961581773311 + Pear Protocol pair trading: https://x.com/pear_protocol/status/1949845049405329886 + Porto by Anchorage institutional self-custody wallet: https://x.com/Anchorage/status/1948421357827760469 + FalconX institutional custody: https://x.com/FalconXGlobal/status/1949871718597640380 Community Highlights + Circle announced that it will support native USDC on Hyperliquid in the future: https://x.com/circle/status/1950905110214914364 + Allium shared a Hyperliquid dashboard: https://x.com/ethanyish/status/1952380455757721720 + The community online hackathon began on July 28, with discussion in the builders channel in the Discord server: https://x.com/hl_hackathon/status/1949832493634355350 + There was a community organized event in Hanoi, Vietnam and a co-working day in London: https://x.com/hyperbuilder_hl/status/1951220757872476415, https://x.com/pear_protocol/status/1951318351088853587 + Jeff will be speaking at KBW in Seoul in September: https://x.com/kbwofficial/status/1947642810599149732

As mentioned previously, during the period from 14:10-14:47 UTC on July 29, orders were delayed due to API servers experiencing a significant spike in traffic. The API returned error responses despite transactions being sent to the mempool and later included in blocks. This experience confused many users who did not realize their orders were executed. As such, the following methodology was used to refund users who: 1) Had orders filled from 14:09-14:48 UTC. For each user who made <$10k pnl during that period, the difference was taken between the entry price for orders filled from 14:09-14:48 UTC and the mark price at a single point in time in the 30-minute period afterward (14:48-15:18 UTC) for which the calculation was most favorable for that user. This methodology refunds users as if they had exited at the worst possible time in the 30 minutes following the affected period. In particular, this means that those who exited in those 30 minutes made positive closed pnl on the opened trades after incorporating the refund. 2) Paid funding at 15:00 UTC on assets whose funding rate was >40x larger than the previous hour. Those assets were kBONK, CFX, MKR, MOODENG, NXPC, RESOLV, and VINE. For these users, the sum of funding payments was taken across these seven assets and refunded. Users who would receive <5 USDC across the two methodologies were not included. Note: sub-accounts were aggregated with the master account in both calculations above. Users who would receive >=10k USDC need to go through KYB/KYC to receive their refund. 9,999 USDC has already been sent to these users, listed below. If they would like to receive the full amount, they should ⁠open a ticket in the Discord by August 18 to go through KYB/KYC. No action is needed from other users, whose refunds were already processed. 0x0296c6761c55a3a54815490428e12188f44e8f48 0x0e09b56ef137f417e424f1265425e93bfff77e17 0x154dfbb9a7072a2aea22c32b9868fbc4c8df8b51 0x173a982ba725580ff53f6a51572339ca46558ed7 0x25a52f080e48d0de2f127dbe8c8b5e3a8152d696 0x27c9fa86c91b84ddfa15de58c482ff662498d65d 0x31dea2516beee92135b96f464eeec3cf292a13f2 0x3bcc64fd73644cf57598c203ea611a6aec5abf5c 0x49bfe37f512851630ac1e849a708beb882379d99 0x53babe76166eae33c861aeddf9ce89af20311cd0 0x56498e5f90c14060499b62b6f459b3e3fb9280c5 0x56c58ed0c0b9b164653d7aa44fd40632393f8e38 0x600ccd80ff6ba4ac46972132b3d2d71e8729e3b3 0x643b713c5c6b86f74c0bbd77d0fe257acc772801 0x64afae722a05b1d28e831b2c20a8ebfea9da6352 0x69906b0ed626ca01a4b7c001e5711e5714ccf207 0x719e23789a9889076665aed41059b989c246cf8b 0x77de6d98efd6f191b9760398def5ac2a2f4a6fa8 0x82c4426b73929c9b2a373b3a902ae7471abf0914 0x8607a7d180de23645db594d90621d837749408d5 0x86c46eb2271c79f393a9c709bbf6c545522f402b 0x88b6addc407b2b809443aea0cf54221c6149b5c0 0x8a6c82fa6f58d57b9b28c3fbafd719b7d0cce125 0x8ed119b5e13cb7a1048f04a651bb32a5eb73b0a6 0x8f93ba2ba7ca200957845444a77a758b68204fc0 0x985fc4485570d0c4763dc5414b3f9dbf0e0f28aa 0xa4add8273d7f47318675bdfbcce3e9648cdb4509 0xa917f318592113e15f0c94eb29f751f98a297fa6 0xab213e43714ce4a5863d155fe805bdb9d9572742 0xacb68f23d39aeea8f8cf87ebfdf804d810bdfeab 0xace0a4c087f7f199328fb1e38d8d27bd237b03fd 0xae01c324a5878ed4243f67d024c91674c12a2412 0xae9ee667c9170f3b148a404c64579e1ed2c76e10 0xb04ff708ed602b11f49a12c5b4314e0a4fc8e803 0xb34519875ef21a74a3a5025b40b96288d1717f20 0xb50edc59d7554d21a5a16b5a128bfcaf1279f2f0 0xb663c9b86cad9940a7ecc0d589eefa35fa1e1da0 0xb690c9aa2438723baf60f892fdd81797764e2d1b 0xbc80befab38494f5b6eacf32e2ac0f22c5f23fc6 0xc45ee9d1cf539603560989a4d60c3930862b7ec5 0xca230e816bdb34a46960c2f978a30a563d1ae9e0 0xd225fd6fe03d9603642be58ea730e35c39eb382f 0xd6e1a6f7bb47aca69aaa511210227d40926ff256 0xd94606128b20680539a719b07bca6cbc30786a28 0xd985bd504d737c6533335dfa4ad74e571bb3bd88 0xe01a97fc4607a388a41626d5e039fdecbfc6acd9 0xe220cc6cc750c14e3340a74a6fff7d63e8e43d7b 0xede92c4c9ea7257043ba8928bf2d9b2e9fe1b931 0xf517639a8872e756ac98d3c65507d2ebc25cc032 0xf58b673c1633ccef0ac58263cdc95ed80f817fc7 0xf97ad6704baec104d00b88e0c157e2b7b3a1ddd1 0xfbf3bc0131f4f396fe24b87319c203bb98d0673a 0xfdd42517e81cf2f29e517d197e47736da3197cd6

As discussed in the Discord governance channel, using stalequant's methodology for reference, validators will be voting on whether to delist kDOGS, OGN, REQ, and STG around 10:00 UTC on Aug 4.

Native USDC and CCTP V2 are coming to Hyperliquid https://www.circle.com/blog/native-usdc-cctp-v2-are-coming-to-hyperliquid-what-you-need-to-know

BONK spot deposits, withdrawals, and trading are now live on Hyperliquid through Unit Protocol. Deposit BONK on https://app.hyperliquid.xyz/trade or https://app.hyperunit.xyz/ Trade spot BONK at https://app.hyperliquid.xyz/trade/BONK/USDC

Yesterday, the API servers experienced a significant spike in traffic, leading to order delays from approximately 14:10-14:47 UTC. The past weeks have seen back-to-back-to-back all-time highs in open interest as well as record highs in protocol revenue. While growing pains are challenging, they are a testament to Hyperliquid's momentum. To be clear, there was no hack or exploit. The blockchain, consensus, and HyperEVM were unaffected. Blocks were produced at the usual rate despite congestion on the API servers. The API returned error responses despite transactions being sent to the mempool and later included in blocks. This confused many users, and improvements are being rolled out to address this. An update will be shared in the coming days once an appropriate refund methodology has been determined for users impacted by this particular issue. Refunds will be determined in an automated fashion; impacted users do not need to open a ticket at this time. Thank you to the community for their understanding as Hyperliquid continues to scale.

SPX6900 (SPX) spot deposits, withdrawals, and trading are now live on Hyperliquid through Unit Protocol. Deposit SPX on http://app.hyperliquid.xyz or http://app.hyperunit.xyz Trade spot SPX at https://app.hyperliquid.xyz/trade/SPX/USDC

Open interest continues to reach new all-time highs, surpassing $14.7B.

The CoreWriter system contract was activated on mainnet two weeks ago. CoreWriter and read precompiles allow trustless two-way communication between HyperCore and the HyperEVM, enabling builders to create an entirely new class of HyperEVM applications that interact with the liquidity and performance of HyperCore. For example, LSTs on other chains are usually controlled by an offchain multi-sig because staking occurs outside of the VM. The next generation of Hyperliquid LSTs can be built using read precompiles and CoreWriter for an entirely onchain tokenized staking experience. Furthermore, these onchain LSTs can participate in staking-related functionality through actions initiated from the HyperEVM, such as onchain LST-holder governance to deploy HIP-3 assets. As another example, borrow lend protocols can use read precompiles to incorporate prices from order books on HyperCore into more robust oracle prices. CoreWriter then allows these protocols to trustlessly liquidate undercollateralized positions on HyperCore order books. The seamless composability of HyperCore and the HyperEVM will be essential to enabling builders and bringing finance onchain.

Open interest has reached new all-time highs seven days in a row. Today's OI record was $13.8B. Fees also continue to grow, with a new ATH in 24h fees of $6M.

Weekly update Product & Tech + Two features on testnet are eligible for mainnet level bug bounties: 1) Spot trading with multiple quote assets (USDT and USDZZ on testnet) and 2) the sendAsset action, which generalizes several other actions into a single format that supports perp DEXs and spot DEX, sub-accounts, and normal users. See https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/exchange-endpoint for more Trading + PUMP hyperps were listed and converted to vanilla perps + PUMP spot trading, deposits, and withdrawals are now live, thanks to Unit + OI reached a new ATH of $12.1B New Teams on HyperEVM (in no particular order) + Kinetiq liquid staking: https://x.com/kinetiq_xyz/status/1945166326562947201 + OpenOcean swaps and DCA strategies: https://x.com/OpenOceanGlobal/status/1943297922394919235 + KyberSwap swaps: https://x.com/KyberNetwork/status/1945120434627682553 + Fordefi MPC wallet: https://x.com/FordefiHQ/status/1943052610896040176 New Teams on HyperCore (in no particular order) + Rabby wallet displaying HyperCore balances: https://x.com/Rabby_io/status/1944729735986323924 + Transak fiat on-ramp: https://x.com/Transak/status/1943641499570192596 + Spot trading for Pudgy Penguins' PENGU: https://x.com/pudgypenguins/status/1943365644369400226 + Bullpen enabling spot trading: https://x.com/BullpenFi/status/1942974825518989444 Community Highlights + Various members of the ecosystem are co-organizing a 4-week online hackathon. Registration opens on July 28: https://x.com/hl_hackathon/status/1944803023152452055 + Hypurr visited CNBC: https://x.com/dschamis/status/1944768550876381552 + Multiple HYPE treasury strategy companies have been announced recently, including Hyperliquid Strategies (holding ~$888M), led by Bob Diamond and David Schamis, and Hyperion DeFi (holding ~$68M)

Last week, Hyperliquid was the first major venue to offer PUMP prelaunch trading. It became the main platform for price discovery leading up to PUMP’s highly anticipated TGE, with over $400M in open interest and $600M in 24h volume as a prelaunch perp. Following TGE, Hyperliquid was also the first major venue to offer spot trading of PUMP through Unit. It remains one of the most liquid venues to trade PUMP spot. Hyperliquid continues to support the movement of capital formation and price discovery onchain. This trend is reflected in four consecutive days of open interest all-time highs. Today’s OI reached $12.1B.

Based on extensive user and builder feedback, the staking referral program is being re-evaluated to ensure fairness for all builders and a healthy builder ecosystem. In its current formulation, there is a risk that some builders sharing back fees to users will create pressure for other builders to do the same to remain competitive. This would be a dangerous precedent that sets an effective requirement of staking in order to compete as an application. Permissionless systems must be designed thoughtfully as there is no central authority to prevent extractive behavior. Thank you to all users that have raised these concerns. At this time, there is no definitive implementation ready for mainnet. Additional feedback is appreciated around designing a robust solution.

PUMP spot deposits, withdrawals, and trading are now live on Hyperliquid through Unit Protocol. Deposit PUMP on http://app.hyperliquid.xyz or http://app.hyperunit.xyz Trade spot PUMP at https://app.hyperliquid.xyz/trade/PUMP/USDC

The PUMP hyperp has converted to a regular perp. You can now long or short $PUMP 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/PUMP

Hyperliquid hit a new OI ATH two days in a row. This time of >$11.3B.

Hyperliquid reached a new all-time high of >$10.6B in open interest.

By community request, Hyperliquid has listed PUMP-USD hyperps. You can now long or short the unlaunched $PUMP token with up to 3x leverage. As a reminder, hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price. Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: $PUMP-USD will convert to a vanilla perp upon CEX spot listing. See Docs for more. $PUMP-USD is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism. NFA. https://app.hyperliquid.xyz/trade/PUMP

Biweekly update Product & Tech + The CoreWriter contract is live on mainnet. See the Docs for more: https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/hyperevm/interacting-with-hypercore#corewriter-contract + Spot trading with multiple quote assets is live on testnet with USDT and USDZZ (a testnet-only test token). Feedback is greatly appreciated, as always. + In approximately one month, the active validator set will increase from 21 to 24 validators. Note that the validator set will remain permissionless, as it currently is. Trading + SYRUP perps were listed New Teams on HyperEVM (in no particular order) + Etherscan's HyperEVM explorer: https://hyperevmscan.io/ + Gliquid v4 AMM: https://www.gliquid.xyz/pools + Harmonix HYPE yield vault: https://x.com/harmonixfi/status/1938540673009164696 + IVX 0dte options protocol: https://x.com/ivx_fi/status/1940706394325315778 + Proof of Play RNG solution for builders: https://x.com/ProofOfPlay/status/1938642122850398425 New Teams on HyperCore (in no particular order) + Phantom wallet perps trading through HyperCore: https://x.com/phantom/status/1942628993636917311 + Mass mobile wallet and Wallet V trading through HyperCore: https://x.com/massdotmoney/status/1940421198116200652, https://x.com/WalletV_io/status/1940795932456751407 + Lootbase mobile trading app through HyperCore on Apple App Store and Google Play Store: https://x.com/LootbaseX/status/1937873479350514084 + Maple Finance accepting HYPE as collateral: https://x.com/maplefinance/status/1938230304558485781 + Gigabrain open source MCP server to trade using Claude: https://x.com/GigabrainGG/status/1941113742818980268 Community Highlights + Community organized events took place at ETH CC Cannes and Dubai: https://x.com/NarwhalTan/status/1941145190770888984, https://x.com/Hyperliquidae/status/1942496159982858320 + Auros shared a guide to permissionless spot deployments on HyperCore: https://x.com/Auros_global/status/1940289302170345633

Phantom added perps trading to their wallet by using Hyperliquid as their liquidity layer. They are able to monetize permissionlessly through builder codes. https://x.com/phantom/status/1942628993636917311

Etherscan released a HyperEVM explorer: https://hyperevmscan.io/ https://x.com/etherscan/status/1942186694977192179

HyperBFT is undergoing consistent improvement over time to further decentralise the network without sacrificing performance. In approximately one month, the active validator set will increase from 21 to 24 validators. Note that the validator set will remain permissionless, as it currently is. Technical details for validators: Validators are encouraged to carefully understand the technology and familiarise themselves with testnet before proceeding with mainnet. Note that the self-delegation of 10k HYPE is locked by the protocol for one year. This lockup applies even if a validator is not part of the active set, and should be carefully considered before committing the stake.

The CoreWriter system contract will be enabled on the next mainnet network upgrade. As a reminder, any testnet bugs related to the CoreWriter are eligible for mainnet level bug bounties: https://hyperliquid.gitbook.io/hyperliquid-docs/bug-bounty-program

Spot trading with multiple quote assets is live on testnet. The currently available quote assets are USDT and USDZZ (a testnet-only test token). Any feedback is greatly appreciated. The current focus is on the technology. A later announcement will be made around the requirements for becoming a quote asset.

By community request, you can now long or short $SYRUP 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/SYRUP

Biweekly update Product & Tech + The CoreWriter contract is in final stages of testing on testnet and receives mainnet level bug bounties according to https://hyperliquid.gitbook.io/hyperliquid-docs/bug-bounty-program + In response to builder feedback, the node binary supports serving a local HTTP API server. Combined with the streaming data from nodes, builders can index and analyze the blockchain state without relying on external API servers or being subject to rate limits. See: https://github.com/hyperliquid-dex/node. Any feedback is appreciated. + On the next network upgrade, L1 blocks will sort post-only orders before cancels and fill notifications and minimum order value error messages will remove the dollar sign and instead specify the quote asset for spot trading. For more details, see the API announcements channel New Teams on HyperEVM (in no particular order) + Mintify NFT marketplace and launchpad: https://x.com/Mintify/status/1934666580744364084 + Optfun 1 minute BTC options: https://x.com/opt_fun/status/1935843657355252219 + Zerion wallet: https://x.com/zerion/status/1937525649545265593 + Perpflow call trace visualizer: https://x.com/perpflow/status/1937146676671598929 + Enso API shortcuts to trigger swaps, deposits, etc.: https://x.com/EnsoBuild/status/1937249279439257899 + Dune Sim API data: https://x.com/DuneSim/status/1934596897483931917 + ZKP2P fiat on-ramp: https://x.com/zkp2p/status/1932392366498816272 New Teams on HyperCore (in no particular order) + BasedApp mobile app to trade on Hyperliquid and spend with a Visa credit card: https://x.com/basedapphq/status/1937410638755901703 + Neutral Trade funding arb vaults (deposit USDC on Solana): https://x.com/TradeNeutral/status/1932791865088356864 + Blockworks Research dashboard: https://blockworks.co/analytics/hyperliquid + Copypaste community member's Rust SDK: https://x.com/controlcthenv/status/1937253831416635483 Community Highlights + Community organized events took place at Permissionless, in London, for builders in Seoul, and with pickleball in Kuala Lumpur the past 2 weeks. Find out about upcoming community events through https://x.com/hypurr_co + Jeff did a podcast with The Chopping Block: https://youtu.be/xQK9TFbGyN0?si=Kxp40smhlc0PNTwr&t=44

Biweekly update Product & Tech + The testnet HyperEVM L1Write system contract has been replaced with a new CoreWriter system contract at the same address. The new contract allows generalization to new HyperCore actions while keeping the system contract on HyperEVM static. It also includes a small gas charge to send HyperCore actions. See https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/hyperevm/interacting-with-hypercore for more details. Feedback is greatly appreciated. + See the API announcements channel for updates on HyperEVM streaming and L1 state snapshot file format + A Support section has been added to the Docs to help users with FAQ: https://hyperliquid.gitbook.io/hyperliquid-docs/support Trading + Margin tiers rollout was completed. For more information, see the Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/margin-tiers#mainnet-margin-tiers + SOPH and RESOLV perps were listed New Teams Live on HyperEVM (in no particular order) + Hyperdrive money market for borrow lend: https://x.com/hyperdrivedefi/status/192754542266433136 + LiquidLaunch LIQD staking: https://x.com/LiquidLaunchHL/status/1929572908977766604 + Beefy Finance yield aggregator: https://x.com/beefyfinance/status/1930959239255580958 + Hybra DEX: https://x.com/HybraFinance/status/1929808775877480526 + Farcaster's wallet: https://x.com/farcaster_xyz/status/1930377381895909714 + Gem Wallet: https://x.com/GemWalletApp/status/192510249969164723 + Biconomy account abstraction tooling: https://x.com/biconomy/status/1932110021082374558 + Definitive trading terminal: https://x.com/definitivefi/status/1929546029315354906 + Jumper, Symbiosis, and Interport bridges New Teams on HyperCore (in no particular order) + 0xPPL portfolio tracker integrated Hyperliquid: https://x.com/0xppl_/status/1929511816746717660 + Polaris added cross chain support to swap for HyperCore assets: https://x.com/Polaris_App/status/1930597241305358503 Community Highlights + HypurrCo Philippines hosted their first event today: https://x.com/HyperliquidPH/status/1932289770757276020 + HypurrCo and NLH are hosting a brunch and pickleball session in KL, Malaysia on June 19: https://x.com/hypurr_co/status/1925087664119939093 + HypurrCo is organizing an event at EthCC on July 4: https://x.com/hypurr_co/status/1929874132432572780 + Xulian shared recommendations on self-custody and keeping your assets safe: https://x.com/xulian_hl/status/1931291343265144896 + Jeff wrote about how transparency improves execution for whales in 2 posts: https://x.com/chameleon_jeff/status/1929753039969440212, https://x.com/chameleon_jeff/status/1928883871644528890