Hyperliquid

Hyperliquid is a decentralized cryptocurrency derivatives exchange built on a proprietary Layer-1 blockchain, designed to deliver fast, transparent, and gas-free trading. Its core architecture features a fully on-chain order book that records every trade on the blockchain, ensuring transparency and eliminating intermediaries. The platform operates using HyperBFT, a custom proof-of-stake consensus mechanism, enabling sub-second transaction finality and high throughput capable of processing up to 100,000 orders per second.

Users can engage in non-custodial trading, maintaining control of their funds on-chain without the need to deposit into centralized accounts. Hyperliquid does not require user registration or KYC processes, allowing wallet-connected trading with minimal friction. The platform supports both cross-margin and isolated-margin trading modes, offering leverage up to 50x across more than 130 digital assets.

Hyperliquid eliminates gas fees for trading transactions, creating a cost-effective environment particularly suited for high-frequency traders and newcomers alike. Maker and taker fees are kept low at 0.01% and 0.035%, respectively. The platform also supports unified trading experiences by enabling spot asset tokenization with the Unit layer, facilitating seamless deposits, withdrawals, and integrated spot and derivatives market access.

Overall, Hyperliquid combines decentralized finance principles with performance and usability features typical of centralized exchanges, aiming to provide an efficient, transparent, and flexible environment for digital asset trading.

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Website: hyperfoundation.org

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