What is Hyperliquid?

Most blockchains are general purpose platforms where an exchange is one app among many. Hyperliquid inverts that. The chain itself is designed around one job, running an exchange, and its consensus and execution are tuned for it.

The result is an order book exchange that behaves the way traders expect while remaining fully onchain. Limit orders, market orders, stops, and take profits are matched in a central limit order book. Orders, fills, funding payments, and liquidations are all recorded on the blockchain and publicly visible. Placing and canceling orders does not require gas payments, and blocks confirm in well under a second.

Hyperliquid lists perpetual futures across crypto majors and a growing set of markets deployed by builders, including stocks, indexes, energy, and metals. Each market sets its own maximum leverage. Positions exchange funding every hour, paid between longs and shorts, calculated on the full position size.

HYPE is Hyperliquid's native token. It is used for staking and securing the network and plays a role in the chain's fee mechanics. You do not need to hold HYPE to trade. Trading accounts are funded with USDC, and margin, profit, and loss are denominated in it.

Hyperliquid itself is a blockchain, so traders use apps to access it. Dexari is a native mobile app for iOS and Android built on Hyperliquid. It gives you the full order book, advanced order types, and position management from your phone, while your account stays self custodial.