The Hyperliquid story
One chain built to house all of finance.
Quant trader Jeff Yan and co-founder iliensinc started building Hyperliquid in 2022 and went all in after FTX collapsed. Self-funded, with no venture capital.
An exchange where every order book lives onchain.
Perps went live in February 2023. HyperCore keeps every perp and spot order book inside the chain, secured by HyperBFT consensus: about 200,000 orders a second.
A token handed to users, not investors.
On 29 November 2024, 310 million HYPE, 31% of supply, landed in early users' wallets, earned through points. Not one token went to private investors.
Real BTC, ETH and SOL sail straight in.
From February 2025, Unit let traders deposit native bitcoin, then ether and solana, from their own chains and trade them on Hyperliquid's spot order books.
Anyone can build here, even a whole exchange.
HyperEVM brought smart contracts in February 2025. Since October 2025, HIP-3 lets builders who stake 500,000 HYPE launch their own perp markets: stocks, gold, even the S&P 500.
Wallets became front doors to Hyperliquid.
With builder codes, apps send orders to Hyperliquid's books and earn a fee. Phantom, Rabby and MetaMask added perps in 2025; Coinbase's Base App followed in August 2026.
The city's dollar: native USDC.
Circle brought native USDC in September 2025. In May 2026, Coinbase and Circle made it the core settlement dollar, sharing reserve income with the protocol.
Wall Street comes aboard.
Hyperliquid Strategies, a HYPE treasury company, began trading on Nasdaq in December 2025. Spot HYPE ETFs followed in May 2026. Next, Kraken's parent plans regulated US access.
And down in one corner: Embracechain.
Built on HyperCore, with its own token, EBR, and two engines under one roof: one for creating, one for trading.
Create onchain with the best AI models.
Image, video and music models side by side in one studio, for artists, filmmakers and musicians. What you top up never expires and never burns: use it whenever you like, for less than the centralized AI platforms charge.
Open the studioTrade on Hyperliquid, security first.
A terminal for Hyperliquid perps and spot. Orders go straight to Hyperliquid's order books, your funds never leave your own Hyperliquid account, and your keys stay yours.
Start tradingWhat we earn goes back to the community.
Revenue from both engines, Create and Trade, returns to the community through buybacks: the path Hyperliquid showed us.