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HyperdriveHyperdrive 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...
HyperdriveHyperdrive - 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...
HyperdriveIntroducing Hyperdrive: The Premier DeFi Hub on HyperEVM
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 ...
HyperdriveHyperdrive 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...
HyperdriveHyperdrive - 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...
HyperdriveIntroducing Hyperdrive: The Premier DeFi Hub on HyperEVM
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 ...
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Liquidation events have long been one of the most profitable opportunities in crypto trading, but centralized exchanges (CEXs) like Binance and Bybit keep these profits for themselves or distribute them to market makers. This leaves everyday users out of the equation.
Hyperliquid flips this model on its head. Through the HLP vault, liquidation profits flow directly back to users, creating a sustainable, high-yield ecosystem. Hyperdrive is now supercharging these profits with one-click leverage, unlocking unprecedented yield potential.
The HLP vault earns yield from multiple sources, making it a powerful tool for passive income:
Market Making Strategies – The vault profits from bid-ask spreads while ensuring deep liquidity.
Liquidations – Exclusive access to liquidation order flow on Hyperliquid allows the vault to capture profits before anyone else.
Platform Fees from Market Making – A share of transaction fees from Hyperliquid trading activity further boosts returns.
This diversified approach ensures consistent income generation, outperforming traditional DeFi yield strategies that rely solely on lending or staking.
Hyperdrive takes HLP yield to the next level by enabling leveraged exposure. With 3x leverage on HLP, returns would have reached approximately 120% APR in 2024, before accounting for borrowing costs.
This unlocks "Hyperdrive-level yields"—a strategy that allows users to maximize earnings without the complexities of manual leverage management. With one-click looping, users can enter leveraged HLP positions effortlessly, compounding their gains while maintaining full control.
The numbers speak for themselves:
40%+ APR in 2024
21 profitable months out of 22 since launch
Best month: +16.06% return
Only negative month: -0.79% drawdown
Unlike traditional DeFi vaults that struggle with yield sustainability, the HLP vault thrives on real trading activity and liquidation profits—ensuring long-term profitability for depositors.
Hyperdrive is pushing the boundaries of HLP liquidity even further. Once Hyperliquid enables precompiles, Hyperdrive will tokenize HLP positions on HyperEVM, bringing leverage and liquidation farming to the next generation of DeFi traders.
Additionally, through our partnership with LayerZero, HLP will soon become cross-chain compatible, allowing capital to flow seamlessly across 120+ blockchains. This means:
✅ Cross-chain collateralization – Use HLP across multiple ecosystems
✅ Unified liquidity – HLP will be tradeable and borrowable beyond Hyperliquid
✅ Increased capital efficiency – Yield farming strategies become more powerful
This expansion will make Hyperdrive the most capital-efficient way to farm yield in DeFi, reinforcing its position as the leading leverage market on Hyperliquid.
Liquidation events have long been one of the most profitable opportunities in crypto trading, but centralized exchanges (CEXs) like Binance and Bybit keep these profits for themselves or distribute them to market makers. This leaves everyday users out of the equation.
Hyperliquid flips this model on its head. Through the HLP vault, liquidation profits flow directly back to users, creating a sustainable, high-yield ecosystem. Hyperdrive is now supercharging these profits with one-click leverage, unlocking unprecedented yield potential.
The HLP vault earns yield from multiple sources, making it a powerful tool for passive income:
Market Making Strategies – The vault profits from bid-ask spreads while ensuring deep liquidity.
Liquidations – Exclusive access to liquidation order flow on Hyperliquid allows the vault to capture profits before anyone else.
Platform Fees from Market Making – A share of transaction fees from Hyperliquid trading activity further boosts returns.
This diversified approach ensures consistent income generation, outperforming traditional DeFi yield strategies that rely solely on lending or staking.
Hyperdrive takes HLP yield to the next level by enabling leveraged exposure. With 3x leverage on HLP, returns would have reached approximately 120% APR in 2024, before accounting for borrowing costs.
This unlocks "Hyperdrive-level yields"—a strategy that allows users to maximize earnings without the complexities of manual leverage management. With one-click looping, users can enter leveraged HLP positions effortlessly, compounding their gains while maintaining full control.
The numbers speak for themselves:
40%+ APR in 2024
21 profitable months out of 22 since launch
Best month: +16.06% return
Only negative month: -0.79% drawdown
Unlike traditional DeFi vaults that struggle with yield sustainability, the HLP vault thrives on real trading activity and liquidation profits—ensuring long-term profitability for depositors.
Hyperdrive is pushing the boundaries of HLP liquidity even further. Once Hyperliquid enables precompiles, Hyperdrive will tokenize HLP positions on HyperEVM, bringing leverage and liquidation farming to the next generation of DeFi traders.
Additionally, through our partnership with LayerZero, HLP will soon become cross-chain compatible, allowing capital to flow seamlessly across 120+ blockchains. This means:
✅ Cross-chain collateralization – Use HLP across multiple ecosystems
✅ Unified liquidity – HLP will be tradeable and borrowable beyond Hyperliquid
✅ Increased capital efficiency – Yield farming strategies become more powerful
This expansion will make Hyperdrive the most capital-efficient way to farm yield in DeFi, reinforcing its position as the leading leverage market on Hyperliquid.
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