What Is Hyperliquid? The Decentralized Exchange With Its Own Blockchain

Hyperliquid is a decentralized exchange specializing in perpetual futures trading, built on its own layer-1 blockchain. Since its launch in 2023, it has gained immense popularity, processing over $2.7 trillion in volume and attracting more than 700,000 users. Hyperliquid offers low fees (starting at 0.07%) and high leverage (up to 40x), enabling traders to manage positions on various assets easily. The exchange's native token, HYPE, experienced notable success, positioning it among the top 20 cryptocurrencies by market capitalization. Founder Jeff Yan, rejecting venture capital backing, emphasized focusing on user value and building a trustworthy platform in the wake of multiple centralized exchange failures. Despite early challenges, including a liquidation crisis and security scrutiny, Hyperliquid is currently thriving as a major player in decentralized finance and is known for its competitive trading features.

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