What is Hyperliquid?

Hyperliquid is a Layer-1 blockchain purpose-built for decentralized perpetual-futures trading. It runs a fully on-chain order book with centralized-exchange-like speed, and HYPE is its native token. Here's how it works and why it matters.

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How Hyperliquid works

Unlike most DEXs that use automated market makers (AMMs), Hyperliquid runs a true on-chain central limit order book with sub-second finality and high throughput — aiming to match the experience of a centralized exchange while staying fully on-chain and self-custodial. It has become one of the largest decentralized perpetuals venues by volume.

How Hyperliquid makes money

Hyperliquid earns trading fees, generating real and substantial protocol revenue (BuyHype tracks it live via DefiLlama). A portion funds the Assistance Fund, which continuously buys HYPE back on-chain — linking the token's demand to actual platform usage rather than to emissions.

What is the HYPE token?

HYPE is Hyperliquid's native token, used for fee tiers, staking, and governance. Supply is capped at 1B with a low circulating float and monthly unlocks. To see whether HYPE is a buy right now, BuyHype runs a live 6-dimension Bayesian model and outputs a buy / wait / avoid verdict — check the home page. Not financial advice.

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