Overview

Hyperliquid Labs builds a Layer-1 blockchain called Hyperliquid and a specialized decentralized exchange for perpetual futures. HyperCore is the on-chain trading engine with a central limit order book, margin, and liquidations that can handle up to 200,000 orders per second, while HyperEVM provides an Ethereum-compatible environment for developers to create dApps that interact with the exchange liquidity. The platform enables traders to maintain self-custody with sub-second finality and aims to combine high-speed trading with on-chain security, using its own blockchain rather than a generic chain. It differentiates itself by being self-funded, directing most trading fees back into the protocol via a HYPE token burn mechanism, and targeting professional, high-volume traders who need fast, advanced order types.