Hyperliquid
Hyperliquid
Hyperliquid is a perpetuals DEX capturing over 70% of segment volume, with $4.62T cumulative volume, zero gas, sub-100ms latency, no VC backing and no hacks. The main open questions concern its anonymous team and proprietary appchain, raising centralization doubts alongside the usual liquidation risk on derivatives.
Data & conditions
| Liquidity model | CLOB |
|---|---|
| Maker / Taker fee | 0% / 0.02% |
| Markets | Spot + Perp |
| Supported chains | Hyperliquid L1 (appchain) |
| TVL (as of Jun 13) | $2.8B |
| 24h volume | $12B |
| Native token | HYPE |
| Fund custody | Non-custodial (funds in your wallet) |
| Supported wallets | MetaMask, Rabby, WalletConnect, Coinbase Wallet |
| Audits | Zellic — Hyperliquid bridge contract, initial security assessment (14 ago 2023) e patch review (27 nov 2023) |
| Governance | DAO + HYPE token (staking + governance) |
| KYC | Full |
| Supported countries | US, EEA, APAC, LATAM, MENA, AFRICA · 200+ countries |
| Regulator | None |
| Segment | B2C |
| MiCA / License status | None (decentralized protocol) DEX appchain |
Strengths
- 70%+ volume perp DEX; $4,62T cumulativo; zero gas; latenza <100ms; no VC; zero hack.
- Self-custody: funds stay in your wallet — the platform cannot touch them.
- Permissionless and decentralized: no approval needed to operate.
- Public security audits.
Weaknesses
- Team anonimo; appchain proprietaria; concentrazione risk.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (DEX appchain): reporting to authorities and freezes on order.
Verdict
Even the segment's outright leader offers no formal protection: no regulator, no guarantees, self-held keys and liquidation risk entirely on the trader. Added to this are concerns specific to the cautious user, like the anonymous team and proprietary appchain, which concentrate trust and risk. The top grade comes from technical strength, not consumer protection.
Here Hyperliquid is the benchmark: over 70% of perpetuals-DEX volume, $4.62T cumulative, a CLOB order book on a dedicated L1 with zero gas, sub-100ms latency, no VC backing and no hacks. Self-custody, no-KYC and on-chain settlement at the highest level; the anonymous team and proprietary appchain raise centralization doubts, the only shadow on an otherwise exceptional profile.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Hyperliquid truly decentralized?
Hyperliquid is a non-custodial decentralized exchange: funds stay in your wallet. Liquidity model: CLOB. Governance token: HYPE.
Which blockchains does Hyperliquid support?
Hyperliquid is available on Hyperliquid L1 (appchain).
What is Hyperliquid's TVL?
Hyperliquid's Total Value Locked is about $2.8B (snapshot 2026-06-13). The figure is dynamic: check the live value on DefiLlama.
What are Hyperliquid's fees?
Hyperliquid's trading fees range 0% – 0.02%. On top of these there are on-chain gas fees, which vary with network congestion.
Does Hyperliquid support perpetuals and leverage?
Hyperliquid offers perpetual contracts, with up to 50x leverage. It supports spot token swaps.
Sources
- Official service page Liquidity model · TVL · Blockchain · Fees · +4 Data verified on Jun 14, 2026
- coindesk.com Legal name · Company type · Stock ticker · Stock listing · +1 Data verified on Jun 14, 2026
- coinedition.com Investors Data verified on Jun 14, 2026
- hyperliquid.gitbook.io Security audit · Supported wallets Data verified on Jun 14, 2026
Show 5 more sources
- trustpilot.com Trustpilot reviews Data verified on Jun 14, 2026
- bitvixo.com 24h volume Data verified on Jun 13, 2026
- eco.com Governance Data verified on Jun 13, 2026
- hyperliquidguide.com Founders · Third-party audit · Bug bounty Data verified on Jun 13, 2026
- odaily.news Past incidents Data verified on Jun 13, 2026