what's Hyperdrive?
Hyperdrive is a DeFi protocol on Hyperliquid's HyperEVM designed for stablecoin yield infrastructure. Users can supply stablecoins like USDC to earn lending yields, borrow stablecoins against collateral such as Hyperliquid assets, and access tokenized positions for leveraged exposure to HLP vaults. It supports liquid staking of $HYPE tokens, allowing holders to earn staking rewards while maintaining liquidity for DeFi use as collateral. Cross-chain deposits are enabled via LayerZero, bringing stable yields to users on chains like Arbitrum. All protocol revenue is directed to the Hyperliquid Hyper Allocation Assistance Fund to buy back $HYPE.
Hyperdrive protocol completed Chainlink services integration on Nov 9th.
Links
x.com/hyperdrivedefiParticipates in the HypurrCo Gathers side event at Consensus HK 2026 on 2026-02-12 alongside HypurrCollective, Kagea, Coinpilot, Auros, No Limit Holdings, Native Markets, Redstone, Velar, Anchorage, and Pear Protocol.
Protocol completes integration with Chainlink services.
The exploit vulnerability has been fixed and users affected by the September 28th incident have been made whole.
The protocol suffers a major exploit resulting in ~$782K stolen through an arbitrary call vulnerability in the router.
Protocol launches new collaboration with ApeCoin enabling users to borrow USDC using APE as collateral and farm points across 8 different HyperEVM protocols.
Protocol identified as a stablecoin money market within HyperLiquid ecosystem and expected to potentially airdrop tokens to Hypio NFT holders.
New HYPED LST product launches, expanding protocol's liquid staking capabilities.
Multiple institutional buyers accumulate HYPE tokens while new protocol revenue mechanism implements automatic token purchases.
Points program active for borrowed fund deposits on Hyperliquid with writeprecompiles feature upcoming.
Protocol captures 75% DEX Perps market share with $250B total trading volume and $1B+ TVL at ATH.
TVL reaches $52.5M, ranking 9th in HyperEVM ecosystem
New tokenized HLP system features on-chain integration with HyperliquidX, enabling 80% liquidity redemption within 30 seconds.
USD lending rates currently available at 7-8% APY, positioning competitively among top liquid lending protocols.
Protocol announces imminent raise of borrowing caps across all markets including HYPE vault.
Low HYPE token borrow rates enable profitable cross-protocol yield farming opportunities across multiple HyperEVM protocols.
Protocol reaches $9M+ TVL with conservative risk management through capped pools
Questions emerge about undisclosed debt obligations to prior investors and possible rebranding with existing liabilities.
Announces integrations with Ethena Labs, USDT0, LayerZero, and Hyperunit for stablecoin infrastructure, with additional backing revealed from Delphi and Binance Labs.
Launches vaults and borrowing functionality as third major protocol on HyperEVM, attracting liquidity migration from Felix and other protocols.
Functions as lending protocol with CDP capabilities for HYPE/stHYPE tokens in Hyperliquid ecosystem
Raises $6M Series A led by Arrington Capital and Hack VC
Launches May 27th with points program, backed by Series A funding to build native DeFi primitives for HyperliquidX's $8B daily volume platform.
Reported higher trading volume than Pendle despite having 1/25th the liquidity. Traded 137.21 ETH vs Pendle's 114.58 ETH in 48 hours. Previously sold out in one minute on Echo.
Crossed $1M in trading volume with $3M in liquidity, with 75% of volume occurring in last 30 days.
Features pools that don't expire, with on-demand terms and no LP rollovers.
New Aerodrome Finance integration announced with AERO rewards.