Hyperliquid

Hyperliquid is a decentralized perpetual exchange that operates on its own high-performance layer-1 blockchain, HyperEVM. It specializes in perpetual futures trading, enabling users to speculate on cryptocurrency prices without needing to hold the underlying assets.

Additionally, Hyperliquid is designed for high performance and scalability. The platform focuses on providing a high-speed, low-fee trading experience for perpetual futures contracts, offering advanced features like scale orders and copy-trading.

Hyperliquid utilizes HyperBFT, a custom-built consensus algorithm based on the efficient HotStuff protocol. While leveraging HotStuff’s core principles, Hyperliquid meticulously rebuilt the algorithm and networking stack to tailor it precisely to the platform’s requirements. 

This customization enables the blockchain to achieve sub-second transaction finality, facilitating seamless and rapid trading.

By integrating HyperBFT, Hyperliquid achieves high throughput, low latency, and strong security, making it a reliable foundation for on-chain trading, governance, and ecosystem growth.

Hyperliquid’s native cryptocurrency, HYPE, powers the platform’s ecosystem as it is used for decentralized governance, economic incentives, and fee payments. By holding HYPE coins, users can participate in the decision-making processes to influence updates and changes through governance mechanisms.