Hyperliquid price

HYPE

#11

Hyperliquid is a layer one (L1) blockchain best known for perpetual futures and spot trading. Beyond its flagship DEX trading platform, the ecosystem supports borrowing, lending, real world assets (RWAs), and a full-fledged Ethereum Virtual Machine (EVM), making it a leading force in decentralized finance (defi).

Just as electronic trading dramatically improved markets in the 2000s, Hyperliquid offers an opportunity for a massive technical upgrade of the existing financial system through a transparent, efficient, and resilient blockchain. HYPE is the native token of the Hyperliquid blockchain, with a maximum supply of 1 billion.

Hyperliquid is secured by HyperBFT, a state-of-the-art delegated proof-of-stake (PoS) consensus mechanism. Hyperliquid features fully onchain execution. For example, order books and matching happen entirely onchain.

HyperBFT Consensus

Hyperliquid is secured by HyperBFT, a Byzantine Fault Tolerant (BFT) protocol implemented from the ground up to optimize for latency and throughput. The network can tolerate malicious nodes as long as they don't control a supermajority of stake. HyperBFT supports ~200,000 transactions per second with a 0.07-second block time.

Delegated Proof of Stake

Token holders delegate their HYPE to validators, and an active set of 24 validators is selected based on stake. A quorum of more than 2/3 of total stake is required to commit each round of transactions. A 7-day unstaking queue deters large-scale consensus attacks. Other proof of state networks such as Ethereum and Solana rely on similar security principles.

Unified Security across the Entire Stack

The full execution state, including both HyperCore and the HyperEVM, is secured by HyperBFT. Every order, cancel, trade, and liquidation happens onchain, transparently with one-block finality. In addition, Hyperliquid is non-custodial, meaning that unlike centralized exchanges, Hyperliquid does not take custody of user funds.

Hyperliquid is best known for perpetual futures and spot trading of crypto, equities, commodities, FX, and more. Users can also borrow, lend, issue, and send assets. There is a full-fledged Ethereum Virtual Machine (EVM) that enables users and builders to access and build apps using smart contracts. This broad functionality underscores its versatility in the decentralized finance ecosystem.

HYPE is the native token of the Hyperliquid blockchain, with a maximum supply of 1 billion. HYPE is used for staking, governance, gas fees, trading fee discounts, and asset deployment fees.

Hyperliquid has marked its presence in the decentralized finance (DeFi) space through a series of significant developments and community engagements. One of the foundational steps was the deployment of HIP-1 and HIP-2 assets, which likely represent pivotal upgrades or initiatives within its ecosystem. These deployments are crucial for enhancing the platform's capabilities and ensuring its alignment with user needs and the latest technological advancements.

Further solidifying its infrastructure, Hyperliquid launched its own Layer 1 (L1) blockchain. This move is indicative of the platform's ambition to create a performant and optimized blockchain environment. By developing its own L1, Hyperliquid aims to address specific challenges in the DeFi space, such as scalability, speed, and cost, thereby offering a more efficient and user-friendly platform for perpetual exchanges.

The platform's commitment to community engagement is another cornerstone of its strategy. By actively listening to and incorporating feedback from its user base, Hyperliquid ensures that its developments are in tune with the needs of its community. This approach not only fosters a loyal user base but also drives continuous improvement and innovation within the platform.

In addition to these key events, Hyperliquid's recent endeavors include the launch of its own token and the achievement of significant growth and updates. The introduction of a native token is a strategic move that could enhance liquidity, governance, and incentive mechanisms within the Hyperliquid ecosystem. Coupled with a high trading volume and a growing number of users, these developments underscore Hyperliquid's expanding influence and success in the DeFi market.

Overall, Hyperliquid's strategic deployments, blockchain innovation, and community-focused approach exemplify its commitment to building a fully on-chain open financial system. These efforts not only contribute to the platform's growth but also to the broader adoption and evolution of decentralized financial services.

The Hyperliquid blockchain is comprised of two components, HyperCore and the HyperEVM. They are secured by the same underlying consensus mechanism, HyperBFT. Both the algorithm and blockchain are optimized from the ground up to support the unique demands of the L1 blockchain. Every order, cancel, trade, and liquidation happens transparently and the chain currently supports 200k orders/second. The order book is fully onchain, ensuring greater transparency and security, as all transactions and cancellations are verifiable on the blockchain.

Hyperliquid Labs leads core development of the Hyperliquid blockchain. Hyperliquid Labs is entirely self-funded and has not taken any external capital. This independence allows the team to focus on technical and product excellence and remain committed to upgrading the global financial system.

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