{"id":42267,"date":"2025-05-13T17:35:18","date_gmt":"2025-05-13T14:35:18","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=42267"},"modified":"2025-10-18T16:04:37","modified_gmt":"2025-10-18T13:04:37","slug":"what-is-hyperliquid-what-does-it-do","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/","title":{"rendered":"What is Hyperliquid? What Does It Do?"},"content":{"rendered":"<p dir=\"ltr\"><a href=\"https:\/\/coinengineer.net\/blog\/arizona-governor-hobbs-vetoes-reserve-bills-and-controls-on-bitcoin-atms\/\"><strong>Hyperliquid<\/strong><\/a>, as a decentralized <strong>L1 blockchain<\/strong>, is a platform optimized for <strong>perpetual futures contracts<\/strong> (perps) and <strong>spot asset trading<\/strong>. Hyperliquid stands out as a Layer 1 (L1) blockchain offering a high-performance, fully onchain financial market. Hyperliquid is an innovative platform designed specifically for perpetual futures and spot asset trading. So, what exactly is Hyperliquid, what does it do, and why is it attracting so much attention? In this article, we will explore Hyperliquid\u2019s trading mechanisms, features, and its place in the DeFi world in detail.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#What_is_Hyperliquid_What_Does_It_Do\" title=\"What is Hyperliquid? What Does It Do?\">What is Hyperliquid? What Does It Do?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#1_Perpetual_Futures_Contracts\" title=\"1. Perpetual Futures Contracts\">1. Perpetual Futures Contracts<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#Hyperps\" title=\"Hyperps\">Hyperps<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#2_Onchain_Order_Book\" title=\"2. Onchain Order Book\">2. Onchain Order Book<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#3_Fee_Structure_and_Community-Driven_Model\" title=\"3. Fee Structure and Community-Driven Model\">3. Fee Structure and Community-Driven Model<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#Builder_Codes\" title=\"Builder Codes\">Builder Codes<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#4_Order_Types_and_Risk_Management\" title=\"4. Order Types and Risk Management\">4. Order Types and Risk Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#5_Margin_and_Liquidation_Processes\" title=\"5. Margin and Liquidation Processes\">5. Margin and Liquidation Processes<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#Auto-Deleveraging_ADL\" title=\"Auto-Deleveraging (ADL)\">Auto-Deleveraging (ADL)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#6_Funding_Rates\" title=\"6. Funding Rates\">6. Funding Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#7_User_Interface_and_Other_Features\" title=\"7. User Interface and Other Features\">7. User Interface and Other Features<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#Hyperliquids_Advantages\" title=\"Hyperliquid\u2019s Advantages\">Hyperliquid\u2019s Advantages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#HYPE_Tokenomics\" title=\"HYPE Tokenomics\">HYPE Tokenomics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#Hyperliquid_Founding_Team\" title=\"Hyperliquid Founding Team\">Hyperliquid Founding Team<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/coinengineer.net\/blog\/what-is-hyperliquid-what-does-it-do\/#Official_Links\" title=\"Official Links\">Official Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"What_is_Hyperliquid_What_Does_It_Do\"><\/span>What is Hyperliquid? What Does It Do?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">Hyperliquid, as a decentralized L1 blockchain, offers a platform optimized for perpetual futures contracts (perps) and spot asset trading. Unlike traditional exchanges, all of Hyperliquid\u2019s operations occur onchain and are supported by a high-performance order book engine called HyperCore. This system has a capacity to process 200,000 orders per second and provides a fast and reliable experience with one-block finality through the HyperBFT consensus mechanism.<\/p>\n<p dir=\"ltr\">The primary goal of Hyperliquid is to democratize financial markets and deliver the speed and liquidity offered by centralized exchanges (CEX) in a decentralized structure. The platform uses USDC as collateral, offering trading opportunities for over 100 perpetual futures contracts and spot assets. Additionally, Hyperliquid\u2019s proprietary \u201chyperps\u201d products stand out with a pricing model resistant to price manipulation.<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-155799 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/05\/hyper4.png\" alt=\"\" width=\"1200\" height=\"477\" \/><\/p>\n<p dir=\"ltr\">Here are the platform\u2019s core functions and the advantages it offers:<\/p>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"1_Perpetual_Futures_Contracts\"><\/span>1. Perpetual Futures Contracts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Hyperliquid provides a robust infrastructure for perpetual futures contracts (perps) trading. Perps are derivative products without an expiration date, allowing traders to speculate on an asset\u2019s price by taking long (bullish) or short (bearish) positions. Hyperliquid\u2019s perps market uses USDC-collateralized and typically USDT-denominated linear contracts (quanto contracts). This means profits and losses are calculated in USDC.<\/p>\n<p dir=\"ltr\">The platform prefers USDT pricing for most contracts, except for cases like PURR-USD and HYPE-USD. These exceptional contracts are priced in USDC due to their liquidity in Hyperliquid\u2019s spot market. The simple and standardized structure of the contracts offers an accessible experience even for beginners.<\/p>\n<h4 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Hyperps\"><\/span>Hyperps<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p dir=\"ltr\">One of Hyperliquid\u2019s most notable features is its \u201chyperps\u201d perpetual futures product. While traditional perps rely on spot or index oracle prices, hyperps use a Hyperliquid-specific moving average hyperp mark price. This creates a system more resistant to price manipulation and supports price stability, especially during high volatility periods. Funding rates in hyperps are designed to encourage market balance, ensuring traders maintain balanced positions.<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-155796 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/05\/hyperliquid2-scaled.png\" alt=\"\" width=\"2560\" height=\"1388\" \/><\/p>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"2_Onchain_Order_Book\"><\/span>2. Onchain Order Book<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Hyperliquid\u2019s order book operates entirely onchain and is powered by HyperCore. This system is optimized to rival the speed of centralized exchanges. The order book uses mark prices that combine external exchange (CEX) prices with Hyperliquid\u2019s own market state. This is critical for preventing manipulation, especially during liquidations.<\/p>\n<p dir=\"ltr\">The platform\u2019s high-performance infrastructure can process hundreds of thousands of orders per second, and the HyperBFT consensus mechanism ensures transactions are finalized within a single block. This means low latency and a reliable experience for traders. Additionally, the transparent structure of the order book eliminates insider advantages and ensures market fairness.<\/p>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"3_Fee_Structure_and_Community-Driven_Model\"><\/span>3. Fee Structure and Community-Driven Model<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Hyperliquid\u2019s fee structure is defined separately for perpetual futures and spot trading. However, a trader\u2019s fee tier is determined by their total trading volume (perpetual futures volume + 2x spot volume). Maker order rebates are continuously transferred to the trader\u2019s wallet, while referral rewards can be claimed separately.<\/p>\n<p dir=\"ltr\">Unlike centralized exchanges, Hyperliquid\u2019s fees benefit the community. Fees are distributed among the Hyperliquid Protocol (HLP), the assistance fund, and spot token deployers. Spot token deployers can retain up to 50% of the fees from their tokens. The assistance fund holds most of its assets in HYPE, Hyperliquid\u2019s native liquid asset.<\/p>\n<h4 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Builder_Codes\"><\/span>Builder Codes<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p dir=\"ltr\">DeFi developers can earn additional income on Hyperliquid through \u201cbuilder codes.\u201d A trader can approve a builder code for a specific order, setting a maximum fee. Builders must have at least 100 USDC in their perpetual futures account. This system encourages innovators in the DeFi ecosystem and reinforces the platform\u2019s developer-friendly structure.<\/p>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"4_Order_Types_and_Risk_Management\"><\/span>4. Order Types and Risk Management<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Hyperliquid offers various order types tailored to traders\u2019 needs:<\/p>\n<ul class=\"tight\" dir=\"ltr\" data-tight=\"true\">\n<li>\n<p dir=\"ltr\">Market Orders: Used for instant trading.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Limit Orders: Enable buying or selling at a specific price level.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Take Profit\/Stop Loss (TP\/SL): Allow traders to lock in profits or limit losses.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\">TP\/SL orders are critical for risk management, especially in volatile markets. These orders are processed onchain and executed transparently, enabling traders to manage their positions automatically.<\/p>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"5_Margin_and_Liquidation_Processes\"><\/span>5. Margin and Liquidation Processes<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Hyperliquid\u2019s margin system is generally based on USDC collateral. Traders can choose between cross margin (a shared collateral pool for all positions) or isolated margin (collateral allocated to specific positions). The initial margin rate depends on the leverage used (e.g., 1% for 50x leverage, 16.7% for 3x leverage). The maintenance margin is half of the initial margin and determines the liquidation level.<\/p>\n<p dir=\"ltr\">Liquidation is triggered when an account\u2019s equity falls below the maintenance margin. In this case, market orders are sent to close positions. If this is insufficient, backstop liquidation occurs via the liquidator vault, and the maintenance margin is not returned. Liquidation profits are distributed to the community (HLP) and do not benefit insiders. Traders can use stop-loss orders to avoid liquidation.<\/p>\n<h4 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Auto-Deleveraging_ADL\"><\/span>Auto-Deleveraging (ADL)<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p dir=\"ltr\">If liquidations cannot resolve negative balances, auto-deleveraging (ADL) is activated. ADL closes positions of traders with high leverage or high profit\/loss ratios to maintain the platform\u2019s solvency. This prevents bad debt and only affects traders with open positions.<\/p>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"6_Funding_Rates\"><\/span>6. Funding Rates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Funding rates ensure that perpetual futures contracts remain aligned with spot prices. On Hyperliquid, funding is paid hourly (1\/8th of the 8-hour rate). The formula considers the average premium index and the interest rate difference, capped at 4% per hour. Funding rates encourage market imbalances, prompting traders to balance their positions.<\/p>\n<hr \/>\n<p dir=\"ltr\"><a href=\"https:\/\/app.hyperliquid.xyz\/join\/COINMUH\">Click here to sign up for Hyperliquid with a commission discount.<\/a><\/p>\n<hr \/>\n<h3 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"7_User_Interface_and_Other_Features\"><\/span>7. User Interface and Other Features<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p dir=\"ltr\">Hyperliquid\u2019s user interface offers features like real-time order book data, position management, and estimated liquidation prices. However, liquidation price estimates may vary due to funding payments or liquidity changes. Traders are advised to follow precise liquidation formulas.<\/p>\n<p dir=\"ltr\">The platform also includes a self-trade prevention mechanism to combat market manipulation. This prevents traders from trading against their own orders, preserving market integrity.<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-155798 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/05\/hyper3.png\" alt=\"\" width=\"1339\" height=\"271\" \/><\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Hyperliquids_Advantages\"><\/span>Hyperliquid\u2019s Advantages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul class=\"tight\" dir=\"ltr\" data-tight=\"true\">\n<li>\n<p dir=\"ltr\">Decentralization: All transactions occur onchain and are transparent.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">High Performance: HyperCore and HyperBFT deliver a fast and reliable experience.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Community-Driven: Fees and liquidation profits benefit the community and developers.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Security: Mark prices and liquidation mechanisms are resistant to manipulation.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Accessibility: Can be used via DeFi wallets or email login.<\/p>\n<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"size-full wp-image-155795 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/05\/hyperliquid.avif\" alt=\"\" \/><\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"HYPE_Tokenomics\"><\/span>HYPE Tokenomics<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">The total HYPE supply is 1 billion tokens, officially launched on November 29, 2024. No fundraising was conducted, so no allocation exists for investors. The distribution details are as follows:<\/p>\n<ul class=\"tight\" dir=\"ltr\" data-tight=\"true\">\n<li>\n<p dir=\"ltr\">31.0%: Genesis distribution, allocated to early Hyperliquid users based on their points via airdrop. Fully liquid.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">38.888%: Reserved for future distributions and community rewards.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">23.8%: Allocated to the team; these tokens will be locked for 1 year before distribution begins. Most tokens will vest between 2027\u20132028, with some vesting continuing beyond 2028.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">6.0%: Allocated to the Hyper Foundation.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">0.3%: Reserved for community grants.<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">0.012%: Reserved for HIP-2.<\/p>\n<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-155792 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/05\/tokenomic-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1440\" \/><\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Hyperliquid_Founding_Team\"><\/span>Hyperliquid Founding Team<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">Hyperliquid was founded in 2022 by Jeff Yan and iliensinc in Singapore. Both Harvard graduates, the duo turned to Hyperliquid to address the need for a decentralized derivatives exchange following the collapse of FTX.<\/p>\n<p dir=\"ltr\">The team includes experts from institutions like Caltech, MIT, Citadel, and Hudson River Trading. Led by Jeff Yan, previously a co-founder of the centralized exchange Chameleon Trading, the Hyperliquid team opted to proceed without venture capital support, relying on their own resources.<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-155791 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/05\/team-1.png\" alt=\"\" width=\"890\" height=\"149\" \/><\/p>\n<h2 dir=\"auto\"><span class=\"ez-toc-section\" id=\"Official_Links\"><\/span>Official Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li dir=\"auto\">Whitepaper: <a href=\"https:\/\/hyperliquid.gitbook.io\/hyperliquid-docs\">Hyperliquid Whitepaper<\/a><\/li>\n<li dir=\"auto\">X (Twitter): <a href=\"https:\/\/x.com\/hyperliquidX\">Hyperliquid X<\/a><\/li>\n<li dir=\"auto\">Discord: <a href=\"https:\/\/discord.gg\/hyperliquid\">Hyperliquid Discord<\/a><\/li>\n<\/ul>\n<p dir=\"ltr\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,<\/a>\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hyperliquid, as a decentralized L1 blockchain, is a platform optimized for perpetual futures contracts (perps) and spot asset trading. Hyperliquid stands out as a Layer 1 (L1) blockchain offering a high-performance, fully onchain financial market. Hyperliquid is an innovative platform designed specifically for perpetual futures and spot asset trading. So, what exactly is Hyperliquid, what<\/p>\n","protected":false},"author":29,"featured_media":42277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[15730,15732,943,15731,15729],"class_list":["post-42267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-review","tag-how-to-use-hyperliquid-hype","tag-hyperps","tag-usdc","tag-what-does-hyperliquid-hype-do","tag-what-is-hyperliquid-hype"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Hyperliquid? 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