01 /
Brief
High-performance perpetual DEX on its own L1 chain. HIP-3 RWA synthetics live with ~$3.9B open interest (Oct 2026) (S&P 500, WTI crude oil perpetuals). HIP-3 share of RWA perps market grew from 2.8% at October 2025 launch to 28.6% by March 2026; Q1 2026 HIP-3 volume hit $130.87B (up from $12.65B in Q4 2025).
02 /
Primary sources
Checks cover the claims listed below. Other details may still need review.
- Ondo: HyperEVM bridge launch (opens in a new tab)
Checked
- Ondo's May 11, 2026 launch brings bridged tokenized equities to HyperEVM through LayerZero.
- xStocks: HyperCore spot-market launch (opens in a new tab)
Checked
- August 10: five USDC-quoted HyperCore spot markets; wider HyperEVM integrations remain planned.
03 /
Snapshot
Key terms and identifiers.
- Asset classes
- Commodities, Equities, Treasuries
- Analytics
- defillama.com/protocol/hyperliquid
04 /
Milestones
How this player got here.
- Aug 2026Five xStocks spot markets launched on HyperCore, quoted in USDC
- May 2026Hyperliquid <-> Ondo Global Markets. HyperEVM gets tokenized stocks via LayerZero bridge.
- Apr 2026HIP-4 Binary Options launched
- Dec 2025Closed 2025 at 1.4M users, $32B daily volume, $16B OI; TVL tripled to $6B
- Oct 2025HIP-3 Permissionless Perpetuals launched, anyone can create perp markets by staking HYPE
- Feb 2025HyperEVM launched, enabling EVM smart contracts with native trading liquidity
- Jan 2025Daily volume crosses $3B
- Nov 2024HYPE token airdrop ($2B+ value)
05 /
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
