Question 1

What is Hyperliquid (HYPE)?

Accepted Answer

Hyperliquid (HYPE) is a Layer 1 blockchain designed for decentralised financial applications. It emphasises transparency and low-latency operations with features such as:

- **Custom Consensus**: Uses the HyperBFT algorithm for efficient block finalisation and scalability.
- **On-Chain Operations**: Handles trades, liquidations, and order management fully on-chain to ensure decentralisation.
- **Decentralised Exchange (DEX)**: Includes an order book-based DEX for perpetuals trading as a native application.
- **Integrated EVM**: Features a HyperEVM that allows developers to build dApps interacting directly with the blockchain's components.

The platform also includes native token standards, liquidity strategies, and support for permissionless APIs to facilitate decentralised trading and development.

Question 2

What is Hyperliquid (HYPE) used for?

Accepted Answer

Hyperliquid (HYPE) powers a decentralised ecosystem where users and developers can interact with robust financial tools and applications. Its primary use cases include:

- **Decentralised Trading**:
  - **Perpetual Contracts**: Facilitates high-performance trading via an on-chain order book.
  - **Spot Trading**: Supports HIP-1 native tokens with deep liquidity.
- **Liquidity Provision**:
  - Through strategies like Hyperliquidity (HIP-2), the platform bootstraps token liquidity in a decentralised manner.
- **Vaults for Passive Income**:
  - Users can deposit funds into vaults managed by traders or algorithms, sharing in profits from market-making and liquidation strategies.
- **Bridging Assets**:
  - A native bridge allows seamless transfer of assets between Hyperliquid and external chains, leveraging its validator set for security.
- **Developing Decentralised Applications (dApps)**:
  - With its integrated HyperEVM, developers can build dApps that utilise the high-performance features of the L1 infrastructure.

Question 3

Who created Hyperliquid (HYPE)?

Accepted Answer

Hyperliquid was developed by Hyperliquid Labs, co-founded by Jeff and Iliensinc, Harvard classmates. The team includes members from Caltech and MIT with professional experience at companies like Airtable, Citadel, Hudson River Trading, and Nuro. Initially engaged in proprietary market-making in 2020, the team expanded into decentralised finance in 2022, driven by frustrations with existing platforms’ limitations in market design, technology, and user experience.

The project is self-funded, allowing the team to prioritise their vision without external pressures. Their expertise spans quantitative trading, blockchain technology, and user experience design, which they leverage to build an efficient decentralised ecosystem.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	HYPE-USDT HYPEUSDT	binance	AA	85.85USDT	0.50%	232,020.10HYPE	51,098	85.42USDT	88.12USDT
2	HYPE-USDT HYPE_USDT	gateio	A	85.84USDT	0.52%	175,837.99HYPE	37,645	85.40USDT	88.09USDT
3	HYPE-USDT HYPEUSDT	bybit	A	85.85USDT	0.51%	169,861.05HYPE	47,714	85.41USDT	88.09USDT
4	HYPE-USDT HYPE-USDT	okex	A	85.83USDT	0.51%	159,210.67HYPE	49,463	85.40USDT	88.11USDT
5	HYPE-USD HYPE-USD	coinbase	AA	85.77USD	0.49%	142,278.27HYPE	15,634	85.35USD	88.02USD
6	HYPE-USDC HYPE-USDC	coinbaseinternational	BB	85.77USDC	0.49%	142,278.27HYPE	15,634	85.35USDC	88.02USDC
7	HYPE-USD HYPEUSD	kraken	AA	85.72USD	0.48%	75,489.49HYPE	10,396	85.31USD	88.00USD
8	HYPE-USDC HYPEUSDC	binance	AA	85.79USDC	0.50%	59,882.34HYPE	9,298	85.36USDC	88.01USDC
9	HYPE-USDT HYPEUSDT_SPBL	bitget	BB	85.86USDT	0.51%	54,135.76HYPE	38,262	85.43USDT	88.12USDT
10	HYPE-EUR HYPEEUR	kraken	AA	76.69EUR	0.62%	15,694.32HYPE	3,178	76.22EUR	78.51EUR
11	HYPE-USD hypeusd	bitstamp	AA	85.81USD	0.54%	12,947.69HYPE	1,353	85.35USD	87.95USD
12	HYPE-USDT HYPE-USDT	kucoin	BB	85.81USDT	0.37%	13,529.33HYPE	7,379	85.49USDT	88.08USDT
13	HYPE-USDC HYPE-USDC	okex	A	85.73USDC	0.38%	13,210.97HYPE	7,966	85.41USDC	88.03USDC
14	HYPE-TRY HYPETRY	binance	AA	4,225.00TRY	0.55%	3,801.79HYPE	1,836	4,202.00TRY	4,326.00TRY
15	HYPE-EUR HYPE-EUR	okex	A	76.73EUR	0.56%	2,205.36HYPE	1,981	76.30EUR	78.57EUR
16	HYPE-USD hypeusd	gemini	A	86.08USD	0.53%	896.17HYPE	2,351	85.63USD	88.19USD
17	HYPE-USDC HYPE-USDC	kucoin	BB	85.80USDC	0.57%	706.69HYPE	271	85.32USDC	87.94USDC
18	HYPE-USD HYPE_USD	cryptodotcom	AA	85.77USD	0.91%	738.55HYPE	418	85.00USD	88.01USD
19	HYPE-USDT HYPE:UST	bitfinex	BB	86.22USDT	0.89%	221.16HYPE	131	85.47USDT	88.05USDT
20	HYPE-USD HYPE:USD	bitfinex	BB	85.96USD	0.56%	215.03HYPE	206	85.48USD	87.99USD
21	HYPE-EUR hypeeur	bitstamp	AA	77.12EUR	1.27%	147.07HYPE	28	76.15EUR	78.21EUR
22	HYPE-USDT HYPEUSDT	cexio	BB	87.03USDT	2.44%	37.05HYPE	3	84.96USDT	87.03USDT
23	HYPE-USDC HYPEUSDC	cexio	BB	86.84USDC	2.18%	2.50HYPE	1	84.99USDC	86.84USDC
24	HYPE-USD HYPEUSD	cexio	BB	86.31USD	1.56%	0.6296HYPE	4	84.98USD	86.56USD
25	HYPE-TRY HYPE-TRY	okex	A	4,236.13TRY	1.20%	4.36HYPE	3	4,186.05TRY	4,288.24TRY
26	HYPE-USDC HYPEUSDC	hyperliquid	-	85.79USDC	0.54%	501,921.86HYPE	65,635	85.33USDC	88.05USDC
27	HYPE-USDT HYPE_USDT	coinw	-	85.81USDT	0.44%	119,677.17HYPE	5,715	85.44USDT	88.08USDT
28	HYPE-USDT HYPEUSDT	toobit	C	85.84USDT	0.50%	74,196.03HYPE	60,108	85.41USDT	88.12USDT
29	HYPE-USDT hype_usdt	xtpub	-	85.84USDT	0.52%	71,224.31HYPE	13,819	85.40USDT	88.09USDT
30	HYPE-USDT sHYPEUSDT	phemex	C	86.13USDT	0.91%	67,299.58HYPE	5,841	85.35USDT	88.15USDT
31	HYPE-EUR HYPE-EUR	bitvavo	B	76.71EUR	0.66%	69,416.12HYPE	5,105	76.20EUR	78.58EUR
32	HYPE-USDT hype_usdt	digifinex	D	85.84USDT	0.52%	70,717.68HYPE	16,649	85.39USDT	88.12USDT
33	HYPE-USDT HYPEUSDT	bitrue	D	85.80USDT	0.46%	24,789.61HYPE	17,563	85.40USDT	88.09USDT
34	HYPE-EUR HYPEEUR	bit2me	B	76.69EUR	0.62%	15,037.71HYPE	3,039	76.22EUR	78.51EUR
35	HYPE-USDT HYPE-USDT	bingx	D	85.86USDT	0.55%	14,743.07HYPE	91,730	85.39USDT	88.12USDT
36	HYPE-USDT hype_usdt	lbank	C	85.87USDT	0.49%	12,795.56HYPE	84,923	85.45USDT	88.16USDT
37	HYPE-USDT HYPEUSDT	mexc	C	85.89USDT	0.53%	10,900.79HYPE	7,329	85.44USDT	88.17USDT
38	HYPE-USDT HYPE_USDT	bitunix	C	85.84USDT	0.52%	11,131.39HYPE	19,152	85.40USDT	87.99USDT
39	HYPE-USDT HYPE-USDT	btse	-	85.80USDT	0.47%	4,690.89HYPE	172,157	85.40USDT	88.11USDT
40	HYPE-USD HYPE-USD	btse	-	85.74USD	0.45%	4,055.69HYPE	212,277	85.36USD	88.04USD
41	HYPE-USD HYPEUSD	binanceusa	B	85.73USD	0.59%	3,336.49HYPE	259	85.23USD	87.94USD
42	HYPE-USDC HYPE_USDC	backpack	C	85.74USDC	0.45%	3,414.12HYPE	829	85.35USDC	87.91USDC
43	HYPE-USDT HYPE-USDT	bigone	-	85.87USDT	0.28%	2,802.69HYPE	4,841	85.63USDT	88.46USDT
44	HYPE-IDR hypeidr	indodax	E	1,530,000.00IDR	0.79%	2,323.48HYPE	1,330	1,517,998.00IDR	1,567,321.00IDR
45	HYPE-USD HYPEUSD	edxmarkets	C	85.88USD	0.66%	2,166.13HYPE	169	85.32USD	87.95USD
46	HYPE-TRY HYPETRY	btcturk	E	4,230.00TRY	0.61%	2,103.16HYPE	197	4,204.50TRY	4,330.00TRY
47	HYPE-USDC HYPEUSDC	mexc	C	85.86USDC	0.56%	960.89HYPE	5,677	85.38USDC	89.30USDC
48	HYPE-PHP HYPEPHP	coinspro	D	5,382.30PHP	0.54%	776.21HYPE	4,241	5,353.60PHP	5,522.50PHP
49	HYPE-USDT HYPE_USDT	bydfi	-	85.84USDT	0.61%	799.72HYPE	2,323	85.32USDT	88.02USDT
50	HYPE-USD1 HYPEUSD1	mexc	C	86.09USD1	0.78%	652.80HYPE	3,039	85.42USD1	88.50USD1