Weekly update

Product & Tech
+ See the posts above for Hyperliquid Labs' views on aligned quote assets, with a streamlined version here: https://hyperliquid.gitbook.io/hyperliquid-docs/hypercore/aligned-quote-assets
+ The onchain implementation for aligned quote assets is live on testnet, per https://discord.com/channels/1029781241702129716/1208476333089497189/1424066531389607947

Hypurr NFTs
+ Hypurr NFTs were deployed on the HyperEVM and distributed to Genesis Event participants. The collection can be viewed on https://drip.trade/collections/hypurr and https://opensea.io/collection/hypurr-hyperevm
+ The goal of the Hypurr NFT collection was to share a memento with those who believed in and contributed early on to Hyperliquid’s growth. Each NFT is unique and captures the different moods, hobbies, tastes, and quirks of the Hyperliquid community, as depicted by Hypurr

Trading
+ 2Z and ZEC perps were listed
+ 2Z spot trading, deposits, and withdrawals went live via Unit Protocol

New Teams on the HyperEVM (in no particular order)
+ Rysk Finance PURR covered calls: https://x.com/ryskfinance/status/1972546675635048497
+ Drip.Trade Hypurr NFT trading: https://x.com/drip__trade/status/1972338669991387601

Token2049 Week
Thank you to everyone who organized events and flew all the way to SG to join the community events this past week. We enjoyed meeting many of you in-person. There were too many great events to track, but a few highlights were:
+ Hyperliquid Labs event in Sentosa: https://x.com/HyperliquidX/status/1974077580065300962
+ HypurrCo event: https://x.com/kirbyongeo/status/1974274439245389902
+ Token2049 fireside chat and defi panel with Jeff: https://x.com/HyperliquidX/status/1973622266601861139

Other Community Events
+ Hyperliquid Malaysia is hosting a meet-up focused on opsec on Oct 16 at Symphony Square, Petaling Jaya: https://x.com/hyperliquid_my/status/1974746647310868757
+ Hyperliquid Italia hosted a meet-up in Rome: https://x.com/Hyperliquidita/status/1972390984886669737

By community request, Hyperliquid has listed MON-USD hyperps. You can now long or short the unlaunched Monad token with up to 3x leverage.

As a reminder, hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price.

Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: MON-USD will convert to a vanilla perp upon CEX spot listing. See Docs for more.

MON-USD is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism. NFA.

https://app.hyperliquid.xyz/trade/MON

Perps trading is now live on MetaMask, powered by Hyperliquid

https://metamask.io/news/introducing-metamask-perps

By community request, Hyperliquid has listed MET-USD hyperps. You can now long or short the unlaunched Meteora token with up to 3x leverage.

As a reminder, hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price.

Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: MET-USD will convert to a vanilla perp upon CEX spot listing. See Docs for more.

MET-USD is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism. NFA.

https://app.hyperliquid.xyz/trade/MET

During the recent market volatility, the Hyperliquid blockchain had zero downtime or latency issues despite record traffic and volumes. HyperBFT consensus and execution handled the spike in throughput gracefully.

This was an important stress test proving that Hyperliquid's decentralized and fully onchain financial system can be robust and scalable. The system's risk and margining implementation functioned as designed, ensuring platform solvency throughout the extreme volatility.

Weekly update

Product & Tech
+ HIP-3 was enabled on mainnet. There is no immediate change for users. Deployers who meet the onchain requirements can deploy perps for trading once ready. See Docs for more: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-3-builder-deployed-perpetuals
+ Hyperliquid had zero downtime, no latency issues, and no bad debt during the weekend's market volatility
+ Added filters by quote asset (USDC, USDH, USDT) for Spot in the token selector

Trading
+ Reached new ATH in 24h volume: $32B
+ MET and MON hyperps were listed

New Teams on the HyperEVM
+ Chainlink released a HyperEVM testnet RPC: https://x.com/chainlink/status/1976377162304287117

New Teams on HyperCore (in no particular order)
+ MetaMask added support for perps trading through Hyperliquid: https://x.com/metamask/status/1975910330669957326
+ Rainbow wallet integrated perps trading through Hyperliquid: https://x.com/rainbowdotme/status/1975234405074673691
+ Supercexy added conditional orders using 2 different assets (e.g., If BTC >$120k, close ETH long): https://x.com/try_supercexy/status/1975850627562373528

Upcoming Community Events
+ Hyperliquid UAE is hosting a meet-up on Oct 16 in Dubai: https://x.com/Hyperliquidae/status/1976604861618909565
+ Hyperliquid Australia is hosting a meet-up on Oct 23 in Melbourne: https://x.com/HyperliquidAu/status/1975776248816410856

On Hyperliquid, there is no listing fee, no listing department, and no gatekeepers.

Spot deployment on Hyperliquid is permissionless. Anyone can deploy a spot asset by paying a gas fee in HYPE. Deployers can choose to receive up to 50% of trading fees on their spot pairs. Everything is transparent and verifiable onchain.

The full defi lifecycle includes building a project, launching a token, and trading that token. Every step of that journey can be done permissionlessly on Hyperliquid.

Based on stalequant's methodology (https://github.com/stalequant/stalequant.github.io/blob/main/build_delisting_recos.py) and community request, max leverage was increased for PAXG (10x), PUMP (10x), and ASTER (5x) and reduced to 3x for BIGTIME, GRIFFAIN, NXPC, SAGA, SCR, and SOPH.

Note that max leverage decreases do not affect the liquidation price of open positions until they are modified. To reduce positions that exceed initial margin requirements under the new max leverage, use reduce-only orders. The first non-reduce-only order that modifies a position will subject it to the new max leverage and maintenance margin requirements. As a reminder, maintenance margin is half of the initial margin at max leverage. E.g., if max leverage is 10x, the maintenance margin is 5%.

Weekly update

Product & Tech
+ trade.xyz's XYZ100 market was the first HIP-3 deployment: https://x.com/tradeperps/status/1977741981414572186
+ An "abstracted" account mode was added to HIP-3 dexs to improve UX. See ⁠the post in the API Announcements channel for more details

Trading
+ Leverage was updated for various assets: PAXG, PUMP, ASTER, BIGTIME, GRIFFAIN, NXPC, SAGA, SCR, and SOPH

New Teams on the HyperEVM (in no particular order)
+ Morpho lending: https://x.com/morpholabs/status/1977721385641550144
+ Gondi NFT lending: https://x.com/gondixyz/status/1978481458483536307
+ Blockaid transaction screening and monitoring: https://x.com/blockaid_/status/1978087495553171960
+ Polymarket deposits & withdrawals: https://x.com/Polymarket/status/1978219148975980825
+ Backpack wallet: https://x.com/backpack/status/1979423645454995736
+ Avail crosschain deposits: https://x.com/AvailProject/status/1976316777727676872

Community Highlights
+ nof1's Alpha Arena compares 6 LLMs trading on Hyperliquid: https://x.com/jay_azhang/status/1979603796947820927, https://nof1.ai/
+ Jeff's fireside chat with Hart (Across) from Token2049 was uploaded: https://x.com/HyperliquidX/status/1978834364256440433
+ Monad (MON) is airdropping to Hypurr NFT holders: https://blog.monad.xyz/blog/the-mon-airdrop

By community request, Hyperliquid has listed MEGA-USD hyperps. You can now long or short the unlaunched MegaETH token with up to 3x leverage.

As a reminder, hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price.

Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: MEGA-USD will convert to a vanilla perp upon CEX spot listing. See Docs for more.

MEGA-USD is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism. NFA.

https://app.hyperliquid.xyz/trade/MEGA

The MET hyperp has converted to a regular perp. You can now long or short $MET with up to 3x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/MET

Validators will vote on whether to delist LAUNCHCOIN around 07:00 UTC on Oct 25.

If the asset is delisted, all positions will be settled at mark price, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.

On the next app.hyperliquid.xyz frontend update:

+ Validator-operated perps will be renamed to clarify the collateral asset. For example, ETH perps will be displayed as ETH-USDC instead of ETH-USD. This is a display-only change. No contract specifications have changed.
+ HIP-3 perps will be shown. These markets are deployed independently onchain by third-parties through a permissionless mechanism. New deployer perps will be initially added to the "all" list, and may be moved to "strict" pending user adoption and liquidity. New HIP-3 deployers must share links to a docs page with contract specifications before their perps can be shown. As a reminder, inclusion of a market in “strict” does not mean it is lower risk, nor does it imply endorsement or evaluation. Users should always assess risks independently before trading any market.
+ DEX abstraction for HIP-3 perps will be enabled automatically when users connect, unless the user has explicitly opted out of DEX abstraction (for example, on another frontend or in the settings dropdown). When DEX abstraction is on, users can trade HIP-3 perps from their existing perps and spot balances.

Weekly update

Product & Tech
+ HIP-3 perps are shown on app.hyperliquid.xyz. New deployers must share links to a Docs page with contract specifications before their perps can be shown.
+ DEX abstraction for HIP-3 perps is enabled automatically when users connect to app.hyperliquid.xyz. When DEX abstraction is enabled, users can trade HIP-3 perps from their existing perps and spot balances.
+ A Spanish language option was added in the Globe icon dropdown of app.hyperliquid.xyz

Trading
+ MEGAETH hyperp was listed
+ MET hyperp was converted to a regular perp
+ LAUNCHCOIN was delisted

New Teams on the HyperEVM & HyperCore (in no particular order)
+ Based released live-streaming and copy trading on HyperCore: https://x.com/BasedOneX/status/1981534082732630276
+ SubQuery supports indexing of the HyperEVM: https://x.com/SubQueryNetwork/status/1980197641490223559
+ Bitget wallet integrated the HyperEVM: https://x.com/BitgetWallet/status/1983096405473538055

Community Highlights
+ Hyperliquid Labs is hiring backend and frontend engineers. Apply here: https://jobs.ashbyhq.com/Hyperliquid%20Labs
+ Jeff spoke on TBPN: https://www.youtube.com/live/eej68BhIK_Q?si=z5-tabgpSJuazlH4&t=5768
+ Community meet-ups took place in Nigeria (https://x.com/hyperliquidNGx/status/1982750234296844338) and Melbourne (https://x.com/HyperliquidAu/status/1982674050188189714)
+ KNTQ (Kinetiq) is airdropping to Hypurr NFT holders: https://x.com/KinetiqFND/status/1981005133275373603

By community request, Hyperliquid has listed CC-USD hyperps. You can now long or short the unlaunched Canton Network token with up to 3x leverage.

As a reminder, hyperps do not rely on any external data for the oracle price. Hyperps trade like perpetual contracts that users are familiar with, but do not require an external spot or index oracle price. Instead, the funding rate is determined relative to a moving average of the hyperp mark price.

Trading is on low leverage and isolated margin only. Beware of low liquidity, high volatility, potentially extreme funding, and increased liquidation risk. Note: CC-USD will convert to a vanilla perp upon CEX spot listing. See Docs for more.

CC-USD is a hyperp contract that poses higher than normal risk. Do not trade contracts you are unfamiliar with and do not understand the risks for. Read the Docs to learn more about the hyperp mechanism. NFA.

https://app.hyperliquid.xyz/trade/CC

As a reminder, validators vote on the delisting of validator-operated perps. If validators vote to delist an asset, the perps will settle to the 1 hour time weighted spot oracle price before delisting. This is a settlement mechanism used by many CEXs. Users who wish to avoid automatic settlement should close their positions beforehand. See: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/delisting

Validators will vote on whether to delist AI16Z around 8:30 UTC on Nov 6. AI16Z is being rebranded to ELIZAOS.

If validators vote to delist an asset, the perps will settle to the 1 hour time weighted spot oracle price before delisting, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.

Weekly update

Product & Tech
+ The HyperEVM small block gas limit was increased from 2M to 3M
+ HIP-3 deployers can configure sub-deployers for fine-grained permissioning of deployer actions. See Docs for more: https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/api/hip-3-deployer-actions

Trading
+ CC hyperps were listed and AI16Z was delisted
+ Max leverage was increased for ZEC to 10x

Community Highlights
+ Community events are taking place in Bangkok on Nov 9 (https://x.com/Hyperliquid_TH/status/1986092898287505613), Vancouver on Nov 13 (https://x.com/hyperliquid_ca/status/1980686448212021377) and Jakarta on Nov 13 (details to be shared by https://x.com/Hyperliquid_IDN)

By community request, you can now long or short $ICP with up to 5x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/ICP

The CC hyperp has converted to a regular perp. You can now long or short $CC with up to 3x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/CC

By community request, you can now long or short $AERO with up to 3x leverage.

Listing is not an endorsement of the project. Past performance does not guarantee future results. Do not trade assets you are unfamiliar with and do not understand the risks for. Exercise control. NFA.

https://app.hyperliquid.xyz/trade/AERO