Hyperliquid HLP

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

Hyperliquid HLP is published as a versioned release inside the Hyperliquid protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Hyperliquid HLP is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Dec 1, 2024
   Listed on DeFiLlama

Hyperliquid HLP is a Derivatives protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract. It is deployed on Hyperliquid L1. No public audit reports are listed on DeFiLlama for this protocol.

Hyperliquid HLP is a single-chain protocol, deployed exclusively on Hyperliquid L1 — this concentrates execution risk but simplifies the trust model. No public audit reports are linked from DeFiLlama for this protocol despite a non-trivial TVL — treat any deposit as carrying material smart-contract risk.

Verified external resources for Hyperliquid HLP — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Hyperliquid HLP is one of 7 Derivatives protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Jupiter Perpetual Exchange, Drift Trade, GMX V2 Perps, and 3 more. These peer protocols collectively secure $1.9B in deposits, giving you a frame of reference for whether Hyperliquid HLP's own TVL is at the top, middle, or tail of the category.

Jupiter Perpetual Exchange

TVL $910.6M · 24h -0.27%

Drift Trade

TVL $334.4M · 24h +0.22%

GMX V2 Perps

TVL $267.5M · 24h -0.08%

Extended

TVL $196.4M · 24h +0.06%

dYdX V4

TVL $125.3M · 24h +0.58%

Ostium

TVL $92M · 24h -8.07%