Hyperliquid Announcements

Biweekly update Product + Enabled MFA for email login, which you can find in the address dropdown in the navigation bar. MFA will be valid for a 15 minute period and then re-prompted upon your next transaction. Please flag if you experience any issues. + Updated UI to explain why HYPE balances can be escrowed if your first action is a transfer from the EVM and how to activate the trading account. Trading + There is now a 20% margin ratio on margin transfers, e.g., withdrawals, perp to spot transfers, adding or removing isolated margin, etc. This change does not affect the opening of new cross margin positions and only affects new isolated margin positions if cross margin usage would exceed 5x after the isolated position is opened. + Partial liquidations are live on mainnet. ⁠ Validators + The Delegation Program application deadline for the first batch of delegations passed on March 16. Applicants should hear back within the next week or two. EVM Updates + HyperEVM <> HyperCore transfers on testnet have been changed to use a unique system address per token. + Shared an example to build a full archival RPC for HyperEVM: https://github.com/hyperliquid-dex/hyper-evm-sync + A reminder to be careful, DYOR, and do small test transactions when interacting with applications built on the HyperEVM Teams Live on EVM (in no particular order) + Staked HYPE (stHYPE) by Thunderhead: https://x.com/stakedhype/status/1892699617088962573 + HyperPie liquid staked Hype: https://x.com/Hyperpiexyz_io/status/1900095404332507594 + Timeswap borrow/lend protocol: https://x.com/TimeswapLabs/status/1893993021609590785 + Laminar swap DEX: https://x.com/laminar_xyz/status/1897435281474904457 + Palmera SAFE multi-sig deployment: https://x.com/palmera_dao/status/1899460307401019488 + Tholos MPC multi-sig: https://x.com/tholosapp/status/1897001526939541628 + Liquina NFT app: https://x.com/LiquinaHL/status/1896580776063631417 + Trippy Wolves NFTs bridged to HyperEVM: https://x.com/rekt_gang/status/1899234670102921689 Community Highlights + Multiple teams are running public RPC nodes: https://github.com/hyperliquid-dex/node?tab=readme-ov-file#mainnet-non-validator-seed-peers + Delphi Digital wrote a report on Hyperliquid: https://x.com/Delphi_Digital/status/1898402739438440663 + Hyperstats shared a dashboard for transfers between HyperCore and HyperEVM: https://x.com/hyperstats_xyz/status/1900705746704363770 + CoinGlass built a whale dashboard for top positions by address: https://www.coinglass.com/hyperliquid + karl_0x and 0xasht made a dashboard to track HL volume and OI compared to CEXs: https://x.com/karl_0x/status/1900639088774148134

Hyperliquid has redefined trading. When a whale shorts $450M+ BTC and wants a public audience, it's only possible on Hyperliquid. When headlines say "Bitcoin Market on Edge," they are equating "Hyperliquid" with the "market." Anyone can photoshop a PNL screenshot. No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here.

Max leverage has been decreased for various assets to ensure platform stability during extreme volatility. 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 20x, the maintenance margin is 2.5%.

To date, Hyperliquid has processed over $1 trillion in trading volume and become the first DEX to rival CEX scale. As volume and open interest continue to grow, there are increasingly large tests for the margining system. Yesterday’s event highlighted an opportunity to strengthen the margining framework to address extreme conditions more robustly. Immediate review was undertaken to analyze the scenario in detail and investigate ways to mitigate similar situations. Risk management is, and has always been, a top priority. It is a constant focus, even if not publicly highlighted each day. To that effect, there will be a change to require 20% margin ratio on margin transfers in a network upgrade after March 15 0:00 UTC. "Margin transfer" refers to funds leaving cross wallet and isolated margin positions. Examples include withdrawals, perp to spot transfers, and adding or removing isolated margin. This change does not affect the opening of new cross margin positions and only affects new isolated margin positions if cross margin usage would exceed 5x after the isolated position is opened. This update is intended to maintain healthier margin requirements and reduce the systemic impact of large positions with hypothetical market impact upon closing. As always, Hyperliquid remains committed to providing a performant, transparent, and resilient trading environment and delivering the best possible experience for users.

Regarding commentary and questions on the 0xf3f4 user's ETH long: To be clear: There was no protocol exploit or hack. This user had unrealized PNL, withdrew, which lowered their margin, and was liquidated. They ended with ~$1.8M in PNL. HLP lost ~$4M over the past 24h. HLP's all-time PNL remains at ~$60M. As a reminder, HLP is not a risk-free strategy. Max leverage will be updated for BTC and ETH to 40x and 25x respectively to increase maintenance margin requirements for larger positions. This will provide a better buffer for backstop liquidations of larger positions.

The Delegation Program application deadline to be considered for the first batch of Foundation delegations is Sunday, March 16 at 23:59 UTC. An announcement will be made shortly before the network upgrade that transitions the mainnet validator set to a fully permissionless model. This is expected to occur in a few weeks.

The mainnet validator set will become fully permissionless after the next network upgrade. Like on testnet, the top N validators by stake will form the active set. Initially, N will be set to 20 and will increase over time. In addition, the Delegation Program…

Hyperliquid mainnet non-validator nodes are now available for anyone to run. Several validators have opened seed nodes to which the public may connect, with more to follow. See the GitHub repository for instructions on how to run a node: https://github.com/hyperliquid-dex/node. In the community spirit of Hyperliquid, it is highly appreciated for new validators and non-validators alike with reliable infrastructure to publish their peers to further diversify the network.

Biweekly update Product + Added an Announcements page https://app.hyperliquid.xyz/announcements to make it easier for users to get updates without having to check social media + Included reasons for cancels in Order History Trading + KAITO perps were listed EVM Updates + Created a new channel ⁠in Discord #hyperevm-eco to share updates about new apps, tools, etc. live on the HyperEVM + Shared FAQ on how to use the HyperEVM for users and builders: https://hyperliquid.gitbook.io/hyperliquid-docs/onboarding/how-to-use-the-hyperevm + A reminder to be careful, DYOR, and do small test transactions when interacting with applications built on the HyperEVM Teams Live on EVM (in no particular order) + Drip.Trade NFT marketplace: https://app.drip.trade/ + Hypio NFTs bridged from Base: https://x.com/HypioHL/status/1895140618310979606 + Tiny Hyper Cats (THC) NFTs: https://x.com/tinyhypercats/status/1893649982365802601 + NFT creator toolkit by NFTs2ME: https://x.com/nfts2me/status/1892518046616682547 + LiquidLaunch token launch platform: https://x.com/LiquidLaunchHL/status/1891880361614852120 + Hypurrfi HYPE lending: https://x.com/hypurrfi/status/1892635932047692140 + Keiko Finance HYPE lending: https://x.com/KeikoFinance/status/1892369981418975540 + LoopedHYPE: https://x.com/Looped_HYPE/status/1896550278398140705 + Sunder Finance AMM: https://x.com/sunder_finance/status/1891906166667825580 + EternalAI AI agents: https://x.com/CryptoEternalAI/status/1892220146711920979 + Den x Hypurrfi SAFE multisig: https://x.com/hypurrfi/status/1892715666395857095 + Revoke.cash to revoke approvals: https://x.com/RevokeCash/status/1894514201281904645 + Private RPC node set-up: https://x.com/sprites0_hl/status/1893149186201428410 + HyperDash EVM transfers: https://x.com/hypurrdash/status/1892211790181798168 + Hyperlane bridging: https://x.com/hyperlane/status/1892062408342110553 + DeBridge bridging: https://x.com/deBridgeFinance/status/1892665054539260244 + LayerZero bridging: https://x.com/LayerZero_Core/status/1894423115691868653 + Router Protocol bridging: https://x.com/routerprotocol/status/1894379654599119157 + Pyth oracle: https://x.com/PythNetwork/status/1892280784230523170 Community Highlights + HypurrCo co-hosted community events at Consensus HK (https://x.com/hypurr_co/status/1892896924770193431) and ETH Denver (https://x.com/hypurr_co/status/1895678503015891171) + GeckoTerminal added support for Hyperliquid: https://x.com/GeckoTerminal/status/1894332952030711823 + Nansen Profiler tracks Hyperliquid positions and balances: https://x.com/nansen_ai/status/1894689653334356316 + ASXN and Messari shared write-ups on Unit supporting spot: https://x.com/asxn_r/status/1893336875391181235, https://messari.io/report/analyst-note-introducing-unit-bringing-spot-btc-to-hyperliquid

The mainnet validator set will become fully permissionless after the next network upgrade. Like on testnet, the top N validators by stake will form the active set. Initially, N will be set to 20 and will increase over time. In addition, the Delegation Program is live. The Delegation Program is designed to enhance network security and decentralisation and support validators committed to the growth of the Hyperliquid ecosystem. Technical details for validators: Validators are encouraged to carefully understand the technology and familiarise themselves with testnet before proceeding with mainnet. Note that the self-delegation of 10k HYPE is locked by the protocol for one year. This lockup applies even if a validator is not part of the active set, and should be carefully considered before committing the stake. It is strongly recommended to review and apply for the Delegation Program before running a mainnet validator: https://hyperliquid.gitbook.io/hyperliquid-docs/validators/delegation-program.

By community request, you can now long or short $KAITO 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/KAITO

Weekly update Tech + The HyperEVM is live. Please see ⁠the previous announcement regarding the EVM release on mainnet Product + BTC spot trading, deposits, and withdrawals are now live, thanks to Unit: https://hyperunit.xyz/https://x.com/hyperunit/status/1890437173738107107. Unit is the decentralized asset tokenization layer for all of finance, built exclusively on Hyperliquid. You can trade BTC here: https://app.hyperliquid.xyz/trade/0x8f254b963e8468305d409b33aa137c67 + Miscellaneous UI improvements Trading + LAYER, IP, and OM perps were listed Teams Live on EVM + Purrsec (Parsec's) explorer: https://x.com/parsec_finance/status/1891938492059398288 + 0xPrince's explorer: https://x.com/im0xPrince/status/1891741047341908085 + Gas.zip's explorer: https://x.com/gasdotzip/status/1891822061615480850 + HypurrScan EVM RPC: https://x.com/hypurrscan/status/1891863348326679007 + Goldsky indexer: https://x.com/goldskyio/status/1891904190965817464 + Indexing Co tooling: https://x.com/indexingco/status/1891957633734541367 + 0xikalgo's frontend to toggle big/small blocks: https://x.com/0xikalgo/status/1891978908691468361 + Hyperswap AMM: https://x.com/HyperSwapX/status/1891903088102912304 + hl names: https://x.com/hlnames/status/1891830454732370141 + Stork oracle: https://x.com/StorkOracle/status/1891917019806826653 Community Highlights + HypurrCo and Nansen co-hosted a community event in Singapore on Feb 12 where different ecosystem projects presented: https://x.com/hypurr_co/status/1889689557752504635. There are upcoming community events at Consensus HK (https://lu.ma/qu18gi5x) and ETH Denver (https://lu.ma/w0cinp8s) as well as a dodgeball tournament at ETH Denver (https://lu.ma/4k011viq) + HyperDash built a dashboard for Unit deposits and withdrawals, trading, etc.: https://unit.hyperdash.info/ + SKYGG wrote about precompiles: https://x.com/SKYGG_Official/status/1889290936427192526 + HL Fund, a platform for DAOs and community investments went live: https://x.com/hl_fund/status/1891433926477971684 + HyperFly, an AI trading companion in closed beta, added new features: https://x.com/hyperflyai + Chainflip supports BTC deposits using Unit: https://x.com/Chainflip/status/1891885294967980143 + Router supports Hyperliquid withdrawals: https://x.com/routerprotocol/status/1891907042568253566 + Gas.zip supports bridging to the HyperEVM: https://x.com/gasdotzip/status/1891735778084134999 + Hyperlane supports bridging to the HyperEVM: https://x.com/hyperlane/status/1892062408342110553 + Okto added support for spot trading: https://x.com/okto_web3/status/1891422647277457605 + For users who want to track teams building in the Hyperliquid ecosystem, you can use: https://www.hypurr.co/ecosystem-projects, https://hyperliquid.wiki/, https://data.asxn.xyz/dashboard/hyperliquid-ecosystem, https://x.com/SKYGG_Official/status/1885297011324575822