HYPE

Robust revenue model and tokenomics

Hyperliquid uses over 95% of revenue for daily open-market buybacks of HYPE, which creates consistent demand and supports long-term value. Over $1 billion worth of tokens have been bought back to date, a scale and consistency unmatched in the space.

Moreover, Hyperliquid operates a solid, self-sustaining business, generating over $56 million per month from trading fees, which is sufficient to support itself without relying on token price fluctuations or outside investors. The team has turned down venture capital funding, opting instead to allocate more than 76% of its tokens to the community, reflecting its commitment to its users. Team tokens are locked until 2028, which reduces the risk of early sell-offs and encourages long-term growth.

A new standard in decentralized trading

Unlike other decentralized exchanges that rely on slower, off-chain systems and outside data sources (external oracles), Hyperliquid runs everything fully on-chain with a real-time order book, enabling faster trades, greater reliability, and deeper liquidity. Today, Hyperliquid handles over 10 times more trading volume than its closest competitors.

Hyperliquid offers a seamless, centralized exchange-like trading experience with zero gas fees and one-click execution. Due to its strong appeal, Phantom, a well-known crypto wallet, has partnered with Hyperliquid, enabling users to access advanced trading from their phones.

A DeFi powerhouse

Hyperliquid runs on its own high-speed blockchain, the Hyperliquid Chain, and has a custom operating system called HyperEVM, which allows external developers to build applications that go beyond spot and perpetual trading. This vertical expansion strategy is transformative for decentralized finance, positioning Hyperliquid not just as a trading platform, but as a full-stack financial operating system. While competitors rely on fragmented protocols for trading, token issuance, liquidity, and app development, Hyperliquid brings all of these functions together natively on a single chain.