Hyperdrive Incident Disclosure – September 27, 2025
On Saturday, September 27, 2025, at approximately 22:00 Singapore time (SGT), the Hyperdrive team was alerted to suspicious on-chain activity affecting the Primary and Treasury USDT₀ markets. Out of an abundance of caution, all markets were immediately paused while we investigated. Following a rapid internal review, we confirmed that the activity was the result of a malicious exploit. Our incident response plan was activated, and a dedicated war room was assembled consisting of the Hyperdrive...

Hyperdrive - THE Stablecoin Money Market
Hyperdrive was created with a vision - The stablecoin market will be crypto’s largest and fastest growing vertical. Though this view may be consensus today, the foundations for Hyperdrive to support this vision begun to be built many years ago. As we prepare to launch, we will outline below why we chose to focus on stablecoin lending, and why on Hyperliquid.The Stablecoin MarketJust 5 years ago in 2020, Ethereum had found its flagship product - DeFi. With just over $600M in TVL at the start o...

Maximize Your Yield: The Ultimate Guide to Liquid Staking HYPE
Whether you're a passive staker or an active trader, the launch of HyperEVM brings new opportunities to maximize your yield, stay liquid, and grow your portfolio.How to Get Started:Stake $HYPE on Hyperdrive and receive $HYPED tokens for liquidity and rewards.Trade with $HYPED, supply $HYPED, or borrow more assets using $HYPED as collateral.Use one-click strategies to maximize your earning potential.Track everything on Hyperdrive in real-time.What Is Liquid Staking and Why Does It Matter ...
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Hyperdrive offers risk mitigated high-yield strategies to those looking to safely park their USDC. Hyperdrive is the premier DeFi hub on Hyperliquid, offering unparalleled yield strategies to all users:
Earn - Earn yield on USDC or access Hyperdrive’s curated list of yield strategies. Battle-tested, double-audited lending infrastructure built on Hyperliquid.
Borrow - Use Hyperliquid tokens such as $BTC, $HYPE, $PURR as collateral to borrow USDC.
Liquid HLP & Leveraged HLP — HLP is Hyperliquid’s flagship vault. Through market-making and liquidation strategies, the vault has generated >40% APR in 2024. With Hyperdrive’s HLP Market, users can attain leveraged exposure to HLP.
Liquid Staking ($HYPED) — Earn yield on your HYPE by staking it with Hyperdrive. HYPE staked with Hyperdrive gets tokenized as HYPED, allowing users to post it as collateral on Hyperdrive to engage in other yield strategies.
The best risk-adjusted strategies — Hyperdrive offers risk mitigated high-yield strategies to those looking to safely park their USDC. This is achieved via Hyperdrive’s proprietary mechanisms that manages risk and utilizes Hyperliquid’s low-latency response times and spot orderbook.
Yield for all risk-profiles — Users can choose from multiple yield strategies, including high-yield opportunities such as leveraged exposure to top-performing vaults.
HLP functionality — Hyperdrive has been working on HyperEVM testnet since July 2024, allowing us to acquire a deep technical understanding of how the Hyperliquid L1 works. This technical knowledge is then applied to:
Be the first to tokenize HLP, unlocking deep composability and advanced trading strategies for HLP holders.
Seamlessly integrate with Hyperliquid to make HyperEVM DeFi capital-efficient and scalable
Battle-tested — Developed over 10+ months, already live and proven.
Hyperdrive is built by a team of seasoned DeFi veterans. Our goal is to be the layer that HyperEVM’s DeFi ecosystem is built upon, ensuring a robust and sustainable financial network is accessible to everyone. Visit Hyperdrive today!
We’re committed to growing the Hyperliquid ecosystem by supporting builders and users. Through Hyperdrive Office Hours, we provide mentorship, technical guidance, and strategy sessions for those looking to build on HyperEVM. If you’re working on something innovative, we’d love to help — let’s build together!
Learn more:

Hyperdrive offers risk mitigated high-yield strategies to those looking to safely park their USDC. Hyperdrive is the premier DeFi hub on Hyperliquid, offering unparalleled yield strategies to all users:
Earn - Earn yield on USDC or access Hyperdrive’s curated list of yield strategies. Battle-tested, double-audited lending infrastructure built on Hyperliquid.
Borrow - Use Hyperliquid tokens such as $BTC, $HYPE, $PURR as collateral to borrow USDC.
Liquid HLP & Leveraged HLP — HLP is Hyperliquid’s flagship vault. Through market-making and liquidation strategies, the vault has generated >40% APR in 2024. With Hyperdrive’s HLP Market, users can attain leveraged exposure to HLP.
Liquid Staking ($HYPED) — Earn yield on your HYPE by staking it with Hyperdrive. HYPE staked with Hyperdrive gets tokenized as HYPED, allowing users to post it as collateral on Hyperdrive to engage in other yield strategies.
The best risk-adjusted strategies — Hyperdrive offers risk mitigated high-yield strategies to those looking to safely park their USDC. This is achieved via Hyperdrive’s proprietary mechanisms that manages risk and utilizes Hyperliquid’s low-latency response times and spot orderbook.
Yield for all risk-profiles — Users can choose from multiple yield strategies, including high-yield opportunities such as leveraged exposure to top-performing vaults.
HLP functionality — Hyperdrive has been working on HyperEVM testnet since July 2024, allowing us to acquire a deep technical understanding of how the Hyperliquid L1 works. This technical knowledge is then applied to:
Be the first to tokenize HLP, unlocking deep composability and advanced trading strategies for HLP holders.
Seamlessly integrate with Hyperliquid to make HyperEVM DeFi capital-efficient and scalable
Battle-tested — Developed over 10+ months, already live and proven.
Hyperdrive is built by a team of seasoned DeFi veterans. Our goal is to be the layer that HyperEVM’s DeFi ecosystem is built upon, ensuring a robust and sustainable financial network is accessible to everyone. Visit Hyperdrive today!
We’re committed to growing the Hyperliquid ecosystem by supporting builders and users. Through Hyperdrive Office Hours, we provide mentorship, technical guidance, and strategy sessions for those looking to build on HyperEVM. If you’re working on something innovative, we’d love to help — let’s build together!
Learn more:
Hyperdrive Incident Disclosure – September 27, 2025
On Saturday, September 27, 2025, at approximately 22:00 Singapore time (SGT), the Hyperdrive team was alerted to suspicious on-chain activity affecting the Primary and Treasury USDT₀ markets. Out of an abundance of caution, all markets were immediately paused while we investigated. Following a rapid internal review, we confirmed that the activity was the result of a malicious exploit. Our incident response plan was activated, and a dedicated war room was assembled consisting of the Hyperdrive...

Hyperdrive - THE Stablecoin Money Market
Hyperdrive was created with a vision - The stablecoin market will be crypto’s largest and fastest growing vertical. Though this view may be consensus today, the foundations for Hyperdrive to support this vision begun to be built many years ago. As we prepare to launch, we will outline below why we chose to focus on stablecoin lending, and why on Hyperliquid.The Stablecoin MarketJust 5 years ago in 2020, Ethereum had found its flagship product - DeFi. With just over $600M in TVL at the start o...

Maximize Your Yield: The Ultimate Guide to Liquid Staking HYPE
Whether you're a passive staker or an active trader, the launch of HyperEVM brings new opportunities to maximize your yield, stay liquid, and grow your portfolio.How to Get Started:Stake $HYPE on Hyperdrive and receive $HYPED tokens for liquidity and rewards.Trade with $HYPED, supply $HYPED, or borrow more assets using $HYPED as collateral.Use one-click strategies to maximize your earning potential.Track everything on Hyperdrive in real-time.What Is Liquid Staking and Why Does It Matter ...
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