Hyperliquid has emerged as a leading decentralized cryptocurrency exchange (DEX), combining a seamless trading interface with the core benefits of decentralization. This review explores its unique structure, tokenomics, technical innovations, and competitive edge in the DeFi landscape.
Quick Navigation
- What is Hyperliquid?
- How to Bridge to Hyperliquid
Hyperliquid Review 2025: Features
- How to Trade on Hyperliquid
- Supported Cryptocurrencies
Hyperliquid: Technicals
- HyperEVM: Full Ethereum Compatibility
- HyperBFT: Hyperliquid’s Consensus Algorithm
The HYPE Tokenomics
- HYPE Token Allocation
- Hyperliquid Airdrop
- How Safe is Hyperliquid?
What Makes Hyperliquid Unique?
- Low Slippage with Decentralized Orderbooks
- Cross-Chain Bridging Capabilities
- Founders of Hyperliquid
Hyperliquid Main Competitors
- GMX
- dYdX
- Jupiter Perps
What is Hyperliquid?
Hyperliquid is a decentralized exchange (DEX) operating on its proprietary blockchain, offering perpetual futures contracts without requiring ownership of underlying assets. Its platform blends centralized exchange (CEX) functionalities like leveraged trading with DeFi principles, ensuring low latency, high reliability, and a user-friendly experience.
👉 Explore Hyperliquid’s trading platform
How to Bridge to Hyperliquid
Method 1: Centralized Exchange (CEX)
- Withdraw USDC (the only supported stablecoin) to an Arbitrum-compatible wallet (e.g., MetaMask).
- Connect your wallet to Hyperliquid to start trading.
Method 2: Decentralized Bridge
- Use bridges like Arbitrum Bridge, Synapse, or HyBridge to transfer funds from Ethereum, Solana, or other chains to Hyperliquid.
- Confirm the transaction and access your funds on Hyperliquid.
Hyperliquid Review 2025: Features
Trading on Hyperliquid
- Perpetual Contracts: Trade BTC, ETH, SOL, and 50+ other assets with up to 50x leverage.
- Order Types: Market, limit, stop-loss, and innovative scale orders (splitting large orders into smaller ones).
- Hyperps: Unique perpetuals requiring no external oracle data.
Supported Cryptocurrencies
- Leverage Trading: BTC, ETH, SOL, XRP, HYPE, and niche tokens like FARTCOIN.
- Spot Trading: HYPE/USDC, BTC/USDC, ETH/USDC, and select altcoins.
👉 Discover Hyperliquid’s full asset list
Hyperliquid: Technical Innovations
HyperEVM
- Ethereum Compatibility: Enables smart contract interactions with Hyperliquid’s core features (e.g., order books).
- Native Token Standards: ERC20 tokens are fungible with Hyperliquid’s native assets.
HyperBFT Consensus
- Speed: Processes 200,000+ TPS with sub-second block confirmation.
- Security: Byzantine Fault Tolerance (BFT) ensures resilience against malicious validators.
HYPE Tokenomics
Token Allocation
- Community Rewards: 38.88%
- Airdrop: 31% (distributed to 94K users in Nov 2024)
- Team & Foundation: 29.8%
Hyperliquid Airdrop
The Nov 2024 airdrop allocated ~$45K–$50K per user, setting a benchmark for community-focused distributions. HYPE’s price surged post-airdrop, reflecting strong market confidence.
Safety and Controversies
- Security Claims: Hyperliquid denies allegations of DPRK hacker exploits, emphasizing rigorous audits and bug bounty programs.
- User Funds: No reported breaches; all funds remain secure.
Unique Advantages
- Decentralized Orderbooks: Minimizes slippage vs. AMM-based DEXs.
- Cross-Chain Bridges: Supports transfers from Ethereum, Solana, Arbitrum, and more.
Founders and Team
Co-founded by Jeff Yan (ex-Hudson River Trading) and pseudonymous contributors, Hyperliquid’s team includes MIT and Harvard alumni.
Competitors
| Platform | Leverage | Fees | Key Feature |
|----------------|----------|------------|----------------------------------|
| GMX | 50x | 0.1% | Deep liquidity |
| dYdX | 20x | 0.02–0.05% | Advanced UI |
| Jupiter | 100x | Variable | Solana-based, high leverage |
FAQ
1. How does Hyperliquid differ from other DEXs?
Hyperliquid’s proprietary blockchain, decentralized orderbooks, and HyperEVM integration offer CEX-like speed with DeFi transparency.
2. Is Hyperliquid safe for trading?
While past controversies exist, no exploits have been reported. Users retain full custody of funds.
3. What’s special about HYPE tokenomics?
76.2% of HYPE supply is community-focused, with no private investor allocations.
Final Thoughts
Hyperliquid redefines DeFi trading with institutional-grade features, low fees, and a community-driven ethos. Its blend of innovation and accessibility positions it as a top contender in the perpetual futures market.