NVDA-PERP live on Hyperliquid. The first ever truly permissionless perpetual swap on single name equities in Crypto. The most important company in the world, trading on the most important exchange in Crypto. Hyperliquid

I've heard feedback from many that market making has gotten more competitive on Hyperliquid recently. This is great for end users as it means liquidity is deeper and more robust. Fairness is a core principle of Hyperliquid in every dimension. For market makers, this means that the blockchain is designed with equal access in mind. However, “equal” does not mean “easy.” As the protocol continues to scale to meet increasing demand, it becomes important to understand the intricacies of Hyperliquid's custom infrastructure that powers the largest permissionless trading venue. For a long time, the primary alpha was simply integrating Hyperliquid. The API is designed to abstract away most blockchain complexities for new users, allowing automated traders to port over strategies with ease. While the ease of onboarding has not changed, the importance of latency has increased. The most responsive strategies require the best client-side infrastructure. The overarching principle guiding latency optimization is that Hyperliquid is a blockchain, not a CEX: 1. The fastest data comes from running a node. - Action item: run against a reliable, static peer. For example, the Hyper Foundation offers a peer for non-validators to connect to. 2. The most complete data comes from running a node. Every transaction is streamed in real-time, and the node offers various formats for ingestion. - Note: run node with output buffering disabled. 3. Nodes execute the entire blockchain, no small feat of engineering and in stark contrast to CEXs where client-side code only processes the user’s state. Hyperliquid nodes execute and verify the entire blockchain state including HyperCore and HyperEVM on a single machine. While the execution can keep up with moderate hardware specs, the latency improvements scale with the number of cores because a significant portion of execution is parallelizable. - Action item: the data exposed by the node is rich and allows much more insight into the full blockchain state. In addition to local API servers, a full L4 book can be built. See example implementation. - Action item: users can see significant gains up to 32 cores, with additional diminishing returns above that. 4. Cancelations are designed to have a high success rate. The first order effect here is built into the HyperBFT's mempool prioritization of cancels. However, some users find further optimizations helpful. For example, an in-flight GTC order can be "canceled" while still in the mempool by invalidating the nonce used in the order.

During the recent market volatility, the Hyperliquid blockchain had zero downtime or latency issues despite record traffic and volumes. HyperBFT consensus and execution handled the spike in throughput gracefully. This was an important stress test proving that Hyperliquid's decentralized and fully onchain financial system can be robust and scalable. The system's risk and margining implementation functioned as designed, ensuring platform solvency throughout the extreme volatility.

Bloomberg talking about Hyperliquid today.

On Hyperliquid, there is no listing fee, no listing department, and no gatekeepers. Spot deployment on Hyperliquid is permissionless. Anyone can deploy a spot asset by paying a gas fee in HYPE. Deployers can choose to receive up to 50% of trading fees on their spot pairs. Everything is transparent and verifiable onchain. The full defi lifecycle includes building a project, launching a token, and trading that token. Every step of that journey can be done permissionlessly on Hyperliquid.

🚨 PERPS ARE NOW LIVE 🚨 You can start trading perps on MetaMask Mobile. And rewards are coming soon. 🧵👇

Hyperliquid grabs 80% of perp DEX market in just one year, analysts say Hyperliquid now controls roughly 80% of the decentralized perpetual futures market, highlighting its rapid dominance over competitors

Perps are one of crypto's biggest innovations primed to disrupt traditional finance: → Leverage → No Expiry → Long or Short → Anchored to spot through funding rates 🎙️ @dschamis

Unit 24 hour spot BTC volumes of 704M have now surpassed Bybit, (493m) Coinbase (201m) and OKX (206m).

⚡️🔗 Hyperliquid🔗⚡️ Smart, permissionless partnerships (like Phantom), onboarding is as easy as a few lines of code—no meetings, no lawyers, just pure crypto efficiency! 🚀🤝 📺 Watch now 👇 #Hyperliquid #Crypto #Trading #Frictionless @dschamis

🚨 LATEST: Hyperliquid tops revenue per employee at $102.4M, ahead of Tether ($93M) and OnlyFans ($37.6M).

Enter the Kinetiverse.

What happens to job creation worldwide if every venture deal suddenly prices in a 25% higher exit? Perps pave the way for earlier price discovery 🎙️ @dschamis

5/ ⚡ Segment 3 – Hyperliquid DAT @Dschamis on how @HyperliquidX’s DAT opens institutional access to on-chain liquidity - how scarcity, structure, and scale define the next generation of market infrastructure. “There will be a time where we're all sitting here and talking about Hyperliquid being bigger than Nasdaq.” Full interview 🔗👉: bit.ly/47zo3h6

(1/5) Hyperliquid Fee Growth YTD 2025 🧵 - 15.4% avg MoM growth - 121.2% growth from January --> August - 290.1% annualized CAGR - $3.67M avg daily fees in August - 3 record fee months in a row No signs of slowing down Some more stats / thoughts below 👇

Hyperliquid Strategies ITW - Rethinking Financial Rails || @HypeStrat @ForwardGuidance @fejau_inc After the success of our itw recap with @Keisan_Crypto, @defi_monk and the Hyperliquid Strategies team, we’re back with a summary of @rediamondjr and @dschamis 'latest discussion with Felix on Forward Guidance. At GLC, Forward Guidance is one of the few podcasts we follow regularly, both for the quality of its macro insights and the caliber of its guests. We highly recommend subscribing and tuning in. Bob (ex-CEO of Barclays, now Founder & CEO of Atlas) and David (Founder & CIO of Atlas) are seasoned TradFi veterans with deep tech backgrounds. They were early to crypto, with David buying $BTC in 2015 and both becoming early investors in @circle. Having reviewed hundreds of crypto opportunities, Hyperliquid is the only project they truly backed, a conviction that speaks volumes. Hyperliquid’s explosive growth in decentralized trading inspired them to launch Hyperliquid Strategies, a Digital Asset Treasury (DAT) company focused on $HYPE. When two TradFi heavyweights are WhatsApping at midnight about Hyperliquid, you know it’s not just another investment, it’s a rare opportunity. Let’s dive into the ITW 👇🧵

Check out our latest research on Hyperliquid below. We examine the current $HYPE valuation multiple and whether it makes sense for the token to trade at such a discount compared to equities like $HOOD and $COIN. Our analysis covers the concept of a “token risk premium” which tends to compress multiples for tokens, as well as specific $HYPE characteristics that could justify a higher valuation. In short, we believe the current multiple undervalues Hyperliquid, especially when considering its growth trajectory and strong stakeholder alignment through buybacks. We attribute the discount largely to information asymmetry and poor distribution, particularly in the U.S, factors we expect will improve with the launch of @HypeStrat, led by @rediamondjr & @dschamis. Hyperliquid.

Chris Lyons checks in at No. 6⃣ on @SportsCenter Top-10 👏👏 #ThisIsYale

Pitsenberger Named Ivy League Offensive Player of the Week 🔗 Read ➡️ t.ly/sEDvZ | #Team152

NEW STARTING CORNER: True freshman CB Jeremy Lucien has earned a starting role heading into week 3's matchup against URI. #UConnFootball HC Randy Edsall explained why this morning #UConnSN

If you’ve been sidelined from $HYPE, imo now is a GREAT time to start building a position. Coinbase and Robinhood launching compliant futures is probably the biggest near term risk to Hyperliquid’s market share, and partly explains recent underperformance. But it also presents a compelling entry point. Hyperliquid is already printing more cash than most crypto projects. Daily perp volume often exceeds $10B, generating ~$3m/day in fees (0.03% maker/taker blend). Q1 revenue hit $136m; Q2 came in at $167m according to defillama. 97% of that gets autoburned via $HYPE buybacks, driving a $600~900m annual burn rate. The current fee base alone aggressively shrinks supply. And that engine is about to scale harder: 1. Builder codes turn liquidity into a platform business Any wallet or bot can plug into Hyperliquid’s orderbook with a builder address and collect up to 0.1% in fees. Nearly 200 builders are already live, with +$25m paid out ($12m builder code fees + $13m referral fees) without impacting protocol revenue. It’s a free distribution engine. More integrations → more volume → bigger buybacks. Source: hypeburn.fun/builders 2. HIP‑3 kicks off markets-as-a-service Stake 1m $HYPE, win an auction slot, and list any perp you want while keeping up to 50% of trading fees. Each new market locks $HYPE, decentralizes listings, and expands protocol revenue. HIP-3 auctions start soon. Uptake may start slow as builders weigh costs and demand, but over time this becomes a key revenue expansion lever. Source: ASXN 3. CoreWriter unlocks defi on HyperEVM HyperEVM went live in Feb 2025 with read only access. CoreWriter (launched July 5) now enables write access. Now smart contracts can stake, trade, and interact directly with HyperCore. This unlocks vaults, lenders, and bots to plug into Hyperliquid’s liquidity. Every smart contract burns $HYPE gas. HyperCore is gas free, but HyperEVM activity is not. So the more defi builds, the stronger the burn. Source: ASXN The beauty of this architecture is that it’s built to scale. Unlike cexs, Hyperliquid isn’t limited by UI or a single exchange. - HIP‑3 turns it into a listing factory. - Builder codes give it free distribution. - CoreWriter makes it programmable from any EVM app. This is not about competing with Binance on a few markets. It’s about becoming the backend liquidity layer for wallets, brokers, and new protocols. Meanwhile, Web2 firms like Hyperion and SONN have already allocated hundreds of millions to $HYPE, signaling serious institutional interest. The time to buy $HYPE has never been better.

BREAKING: No. 13 Yale will face No. 4 Auburn in the first round of March Madness. The Bulldogs are headed to Spokane, Washington.