Hyperliquid has listed $USELESS perpetuals with up to 3x leverage on its order book, following a community request, alongside a separate 3x perps listing on the same day.
Tokenized stock markets from xStocksFi are going live on Hyperliquid. MUx, SKHYx, NVDAx, QQQx, and SPYx now trade as native spot markets on the exchange, extending Hyperliquid's onchain finance suite into tokenized equities.
Hyperliquid's onchain TWAP orders now support trigger prices, so an order activates only when mark price reaches your set level. They also support max/min price termination, ending a TWAP when mark price crosses a user-set ceiling (for buys/longs) or floor (for sells/shorts).
An attacker built a large leveraged POPCAT long behind a fake buy wall and then pulled it, triggering cascading liquidations that forced Hyperliquid's community liquidity vault (HLP) to absorb roughly $4.9 million in bad debt — the third market-manipulation event against the platform in 2025.
HIP-3 went live, letting anyone stake HYPE to deploy new perpetual markets onchain, including non-crypto assets such as equities — a milestone toward fully decentralizing the perp-listing process.
The validator set opened up so any sufficiently staked party could operate a validator, with the active set determined by the top validators by delegated HYPE stake.
An attacker used onchain spot purchases and leveraged positions to pump the low-liquidity JELLYJELLY token, forcing a large liquidated short onto the community-owned HLP vault; validators delisted the market and force-settled positions, limiting losses to roughly the cost of the manipulation.
Hyperliquid launched its Ethereum-compatible smart-contract environment (HyperEVM) on mainnet, bringing 'general-purpose programmability' and direct interactions with live exchange state without bridges.
Hyperliquid distributed roughly 31% of its fixed 1-billion-token HYPE supply to about 94,000 early users (points-based), with no prior VC allocation or private sale.
Hyperliquid's flagship perps trading platform went live at the end of February 2023, bootstrapped without outside investors; it later reached full mainnet status by August 2023.
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