What is Hyperliquid? A look at the platform and the HYPE token

Hyperliquid is a next-generation decentralized trading platform that’s redefining the crypto trading experience. At its core is the HYPE token, which was recently launched and has impressed traders.

It’s a dynamic asset driving the platform’s ecosystem and offering users the ability to stake, govern, and trade seamlessly.

Here’s everything you need to know about Hyperliquid, its features, the role of HYPE, and its future.

Table of Contents

What is Hyperliquid and how does it work?

During the rise of DeFi, traders were frustrated with slow, clunky platforms. Enter Hyperliquid: a Layer 1 blockchain built for speed and independence, free from reliance on external networks. Officially launching in 2023, it quickly became a go-to for traders who wanted fast, scalable, and reliable transactions — and its momentum hasn’t slowed down since.

How does Hyperliquid work? Hyperliquid combines the advantages of both centralized and decentralized exchanges — offering the speed and user-friendly experience of centralized platforms while maintaining the transparency and security of blockchain technology. Users can:

Trade over 100 assets, both in spot markets and perpetual contracts.
Use advanced order types for precise trading strategies.
Provide liquidity through community-managed pools.

The main motivation behind Hyperliquid’s development was to solve the common issues faced by crypto traders: low liquidity, slow order execution, complex interfaces, and lack of transparency.

What is HYPE?

Hyperliquid (HYPE) is the native token powering the Hyperliquid ecosystem. Launched in late November 2024, the token quickly surged in price and entered the top 30 largest cryptocurrencies by market cap.

What is Hyperliquid used for?