News

Weekly Update Product & Tech + Gossip and order priority fees are now live on mainnet. See https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/priority-fees for details. Note that the maximum order priority fee was reduced from 20 bps to 8 bps based on user feedback. Order priority fees currently only apply to IOC orders on HIP-3 assets. Trading + The vault creation gas fee increased from 100 USDC to 10k USDC. This is meant to gradually deprecate legacy HyperCore vaults, which have been feature frozen for ~2 years. Vaults can be tokenized in a more configurable way as smart contracts on the HyperEVM using precompiles and CoreWriter. New Teams on the HyperEVM & HyperCore (in no particular order) + USDH launched zero-fee and zero-slippage fiat on and offramp: https://x.com/nativemarkets/status/2041901395566030923 + Hyperbeat launched their full liquid banking product: https://x.com/hyperbeat/status/2041878671179321849 + Azura integrated Hyperliquid via builder codes: https://x.com/AzuraTrade/status/2042301690125435200 Community Highlights + Colossus magazine published a profile on Jeff and Hyperliquid. A big thank you to Dom Cooke for telling this story: https://colossus.com/article/beyond-the-sky-jeffrey-yan-hyperliquid/ + Shaunda shared a dashboard to track Trade[XYZ] off-hours data: https://x.com/shaundadevens/status/2042956575564833007 + Hyperliquid IDN is hosting an event in Jakarta on April 23: https://x.com/hyperliquid_idn/status/2032587275620724895 + HypurrCo shared the latest info on regional chapters: https://x.com/hypurr_co/status/2042793135751991316

KR200 is now live. 20x leverage, 24/7, 365.

Treasury Secretary @SecScottBessent is absolutely right: "There is one way to give developers and entrepreneurs the comfort to reshore: durable law. Congress acted decisively with Genius, and the Clarity Act is the necessary next step."

JP225 is now live. 20x leverage, 24/7, 365.

RWA trading on Hyperliquid continues to reach new ATHs week after week, surpassing $2.3B in open interest

Weekly Update Product & Tech + A Hyperliquid mobile app is live on the Google Play Store as an initial MVP for testing. The initial MVP is intentionally limited in scope to iterate on user feedback re: feature prioritization and device-specific issues. Please share feedback in the Discord server + Testnet outcome trading of binary markets is eligible for mainnet-level bug bounties, effective immediately. Multi-outcome markets and frontend feedback are not in scope Trading + HIP-3 markets reached a new ATH of $2.3B in open interest + Accounts with >$10k in trading account value can now activate portfolio margin without any volume requirement. This allows new users to begin trading using portfolio margin immediately + Max leverage was reduced to 5x for INJ, LDO, OP, SEI, and TIA New Teams on the HyperEVM & HyperCore (in no particular order) + SushiSwap integrated Hyperliquid via builder codes: https://x.com/SushiSwap/status/2039789742233936354 + Ripple Prime integrated HIP-3 perps trading for institutional clients: https://x.com/mikehiggins/status/2038667689044971757?s=20 Community Highlights + Hyperliquid HK is hosting an event during the Web3 Festival on April 21: https://x.com/Hyperliquid_HK/status/2039722504412078418

Based on stalequant's methodology (https://stalequant.com/delisting_reco/index.html) and community request, max leverage was reduced to 5x for INJ, LDO, OP, SEI, and TIA. Note that max leverage decreases do not affect the liquidation price of open positions until they are modified. To reduce positions that exceed initial margin requirements under the new max leverage, use reduce-only orders. The first non-reduce-only order that modifies a position will subject it to the new max leverage and maintenance margin requirements. As a reminder, maintenance margin is half of the initial margin at max leverage. E.g., if max leverage is 10x, the maintenance margin is 5%.

Years ago, the CFTC was suing DeFi protocols. Now, @ChairmanSelig is championing what permissionless networks and onchain systems can do for the future of American finance. That vision, paired with the rules to match, is what will make America the crypto capital of the world.

On the next network upgrade, accounts with more than $10k in trading account value will be able to activate portfolio margin without any volume requirement. This allows new users to begin trading using portfolio margin immediately. Accounts with $5M in master account weighted volume will still be able to activate portfolio margin. This has not changed.

A Hyperliquid mobile app is live on the Google Play Store as an initial MVP for testing. Android users can access the app here: https://play.google.com/store/apps/details?id=xyz.hyperliquid.app The initial MVP is intentionally limited in scope, only including notifications for fills. It is meant to be an incremental upgrade from the PWA to iterate on early feedback re: feature prioritization and device-specific issues. During this testing period, there will be a limited number of downloads. Feedback is greatly appreciated. Note that this is an initial MVP. If you wish to disable notifications, you can uncheck "Enable Push Notifications" in the Settings dropdown. Additional work is planned to improve notification configuration. Important: Do not interact with fake apps in the Play Store and only use the link above.

Cross margin will be enabled for S&P 500 today at 12pm EST.

Weekly Update Trading + HIP-3 markets reached a new ATH of $1.8B in open interest New Teams on the HyperEVM & HyperCore (in no particular order) + Hydromancer offers free historical data for Hyperliquid: https://x.com/hydromancerxyz/status/2036448548863017158 + MetaMask added support for the HyperEVM: https://x.com/metamask/status/2037214177966907641 Community Highlights + Jeff spoke at an HBS class studying Hyperliquid: https://x.com/MoneroMahesh/status/2037157748505276657 + At the Digital Asset Summit (DAS), Shaunda gave a talk on Hyperliquid and Jake (HPC), MC (Native Markets), and Bob (HSI) moderated by Rajiv (Framework) discussed Hyperliquid on a panel: https://x.com/shaundadevens/status/2037657887351222310, https://www.youtube.com/watch?v=zioOQWNTs9Q + Hyperliquid FR is hosting an event during Paris Blockchain Week on April 15: https://x.com/Yaugourt/status/2037628083977531759

The Discovery Bounds page is now live: https://app.trade.xyz/discovery-bounds During weekend trading, XYZ markets operate within discovery bounds anchored to the last external price. The page provides real-time visibility into each market’s session state (internal vs. external), along with the last external price, active bound range, and re-anchoring trigger levels.

"What we need to do is upgrade the laws and regulations in the US so that Americans, individuals and institutions, can trade on Hyperliquid." - @jchervinsky

DraftKings (DKNG), Hims & Hers Health (HIMS), Costco (COST), and Eli Lilly (LLY) are now live with 10x leverage 24/7, 365.

Trade[XYZ]'s TG announcement channel is now live: https://t.me/tradexyz_announcements Note: All other telegram channels are a scam and NOT affiliated with trade[XYZ].

Weekly Update Product & Tech + Fiat onramping is live for initial testing on app.hyperliquid.xyz, powered by Swapped Trading + S&P Dow Jones Indices partnered with Trade[XYZ] to launch the first and only officially licensed S&P500 perpetual derivative on Hyperliquid, enabling 24/7 trading of the S&P500: https://x.com/tradexyz/status/2034260987197444255, https://www.wsj.com/finance/s-p-500-owner-jumps-into-24-7-futures-for-index-on-crypto-exchange-6c65696b, https://www.bloomberg.com/news/articles/2026-03-18/booming-crypto-exchange-gets-official-s-p-data-in-tradfi-push + HIP-3 markets reached new ATHs of $1.7B in open interest and $5.9B in 24h volume New Teams on the HyperEVM & HyperCore + Coinbase added support for USDC on the HyperEVM: https://x.com/CoinbaseMarkets/status/2033596658949198067 Community Highlights + Hype Global (Imperator) and Hyperliquid FR are hosting an event for builders during ETHCC in Cannes on March 31: https://x.com/hypeglobal_/status/2035273993834701186. + See more upcoming events with HypurrCo here: https://x.com/hypurr_co/status/2036008468801544571

@tradexyz reached new all time highs across the board: - Cumulative trading volume: $110B - Open Interest: $1.6B - 24hr peak volume: $5.6B - Daily unique traders (24hr peak): 45.3k - Weekend trading peak volume: $1.09B - XYZ share of Hypercore volume (24hr peak): 44.4%

Discovery Bounds have been updated for SP500, XYZ100, GOLD, SILVER, NVDA, and AAPL, in addition to WTIOIL (CL) and BRENTOIL. For more details, refer to our documentation here: https://docs.trade.xyz/perp-mechanics/discovery-bounds

Display names and keywords for XYZ markets have been updated to improve discoverability and consistency. For example, CL now appears as WTIOIL, while remaining searchable via CL. These changes are only relevant to frontend displays, markets are unaffected.

Fiat onramping is live for testing, powered by swapped.com. Users can now use app.hyperliquid.xyz without existing crypto assets. Options including credit card and bank transfer are supported in certain geographies. To try it out, select "Fiat" as the asset in the deposit modal. Fiat onramping is in initial phases of testing only. Feedback is greatly appreciated. Offramps, other payment methods, and other onchain assets will be added in the future.

We are Unit Labs, the team behind @unitxyz and @tradexyz. We’re looking for elite talent to scale the team, starting with senior SWEs, devops, and quant researchers. You’ll join a small team building the asset layer on Hyperliquid. Since launch, our deployments have facilitated $150B+ in volume across spot crypto, equities, commodities, and FX. We believe perps have the potential to reshape capital markets the way stablecoins reshaped payments, a step-function change in how assets trade and settle. Our mission is to bring the world's asset classes onchain and to become the venue for global price discovery. Requirements: - Have built distributed systems at scale - Demonstrated history of taking products from 0 → 1 - In-person in Asia or NY, relocation covered Apply using the link below: https://x.com/tradexyz/jobs

Huge congratulations to TradeXYZ and S&P for this historic partnership. I'm honored that these teams choose to build on Hyperliquid. Seeing official S&P500 perpetual futures launch exclusively on Hyperliquid is a validation of everyone's past years of hard work: global access to decentralized finance, perpetual futures as 24/7 price discovery, and Hyperliquid upgrading the existing financial stack to house all of finance. The S&P500 is synonymous with "the market," a single number that captures the essence of the largest economy in the world. Looking forward to tracking the world's most important financial gauge 24/7 on the most liquid permissionless markets.

Weekly Update Product & Tech + HIP-4 is live on testnet for user feedback. See https://t.me/hyperliquid_announcements/526 for more + Portfolio Margin limits have been increased. See https://t.me/hyperliquid_announcements/525 for more Trading + HIP-3 markets reached a new ATH of $1.4B in open interest + ZEC spot trading, deposits, and withdrawals went live via Unit Protocol New Teams on the HyperEVM & HyperCore (in no particular order) + Velo integrated Hyperliquid via builder codes: https://x.com/velo_xyz/status/2032443978260595199 + Byreal integrated Hyperliquid perps: https://x.com/byreal_io/status/2031273743016919070 + HyperLend launched compliance-gated private pools and dedicated credit facilities for institutions: https://x.com/hyperlendx/status/2030978006261322051 Community Highlights + Traditional news outlets have continued coverage of 24/7 price discovery on Hyperliquid, with WSJ: https://www.wsj.com/finance/commodities-futures/oil-futures-perpetual-contracts-d5496e5a, Bloomberg: https://www.bloomberg.com/news/articles/2026-03-09/oil-trades-are-booming-on-24-7-crypto-exchange-hyperliquid, Fortune: https://fortune.com/2026/03/14/hyperliquid-iran-oil-trade-weekend-markets-24-7/, and FT: https://www.ft.com/content/04ff96ba-90bb-4111-8a8b-cc5bcd05d0db + Rajiv built a fee dashboard with views by market and address: https://x.com/rajivpoc/status/2031829619104731185

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.

HIP-4 is live on testnet. The first set of outcomes are recurring binary options on HyperCore mark prices. The interface at app.hyperliquid-testnet.xyz shows these outcome markets under "Predict" in the asset selector. As a reminder, outcomes are fully collateralized contracts that settle within a fixed range. They introduce non-linearity and dated contracts, and do not involve leverage or liquidations. Multi-outcome markets are also supported but are not part of the initial release plan. The initial mainnet release will be 1-day binary markets on BTC and HYPE. The first priority is to validate the technical implementation while avoiding complexities around outcome creation and settlement. The outcome trading API is similar to spot, with the key differences highlighted here: https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/asset-ids. Feedback and bug reports are appreciated.

Portfolio margin will transition from pre-alpha to alpha phase on the next network upgrade. The limits should be suitable for portfolios under $500k, rather than only testing accounts. The new requirements for portfolio margin are: + Master account >$5M in weighted volume required before enabling portfolio margin + USDH: 500M USDH global supply cap, 100M USDH global borrow cap, 5M USDH user supply cap, 1M USDH user borrow cap + USDC: 500M USDC global supply cap, 100M USDC global borrow cap, 5M USDC user supply cap, 1M USDC user borrow cap + HYPE: 1M HYPE global supply cap, 50k HYPE user supply cap + BTC: 400 BTC global supply cap, 20 BTC user supply cap

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

Weekly Update Trading + HIP-3 markets reached a new ATH of $1.2B in open interest New Teams on the HyperEVM & HyperCore (in no particular order) + Superform added HyperEVM vaults: https://x.com/superformxyz/status/2028850931505467741 + Based launched an AI interface with x402 payments: https://x.com/BasedOneX/status/2029181231984984148 Community Highlights + Bloomberg featured another story on 24/7 price discovery on Hyperliquid this weekend: https://www.bloomberg.com/news/articles/2026-03-07/crypto-markets-track-war-risk-as-iran-conflict-endures + Hyperliquid Strategies (HSI) rang the opening bell at NASDAQ: https://x.com/rediamondjr/status/2029224093371814346 + MMT added heat maps for TP/SL and liquidations: https://x.com/MMT_Official_/status/2028509083079241964

CFTC @ChairmanSelig laid out an exciting roadmap for the Commission's top priorities at @MilkenInstitute's Future of Finance 2026 today: "I view Project Crypto as a historic initiative between the agencies to upgrade and modernize our rules and regulations and future-proof them for technologies like crypto...." "Many of the firms want to move onchain. The prior administration drove a lot of these firms and the liquidity offshore. The perpetuals markets are a great example of this. We've had perpetual futures contracts in crypto assets for a very long time[,] but they've developed offshore[.] We've got to bring that back to the United States. We need to have that liquidity here in the U.S...." "We're working towards getting perpetual futures, true perpetual futures, not long-dated contracts, here in the U.S. within the next month or so.... We're also working towards onchain markets, so we're looking to have clear guidance as to what sort of digital wallets would implicate our regulations. The prior administration really went after firms that were just offering software products...." "We're also working towards regulations that accommodate onchain software systems, so decentralized finance protocols and other types of blockchain networks.... We're going to make sure it's very clear as to what implicates the CFTC's regulations and what doesn't, and to the extent that an onchain software system or front-end does implicate our rules or regulations, we're modernizing and future-proofing those rules so that there's a place for all of that." HPC applauds Chairman Selig's forward-thinking approach to regulation and stands ready to support his crucial work ensuring that decentralized markets for perpetual derivatives thrive in the United States. 🇺🇸