Hyperliquid is a proprietary layer 1 (L1) blockchain designed to combine the high-performance trading experience of a centralized exchange (CEX) with the transparency and self-custody values of decentralized finance (DeFi). Initially, user assets were introduced through Arbitrum, an Ethereum-based layer 2 solution, but to overcome performance limitations and achieve vertical integration, we built our own L1 mainnet. Hyperliquid is not simply an exchange app, but is itself an infrastructure specialized in finance and aims to implement all financial activities on-chain, including perpetual futures, spot trading, lending, and stablecoin issuance.
Investment View
Maintaining neutrality: Its identity as a ‘neutral financial infrastructure’ without VC interference serves as a basis for trust for institutional investors and large builders to place assets on Hyperliquid in the long term. Progressive decentralization: Currently, a small number of core validators are leading the network, but system risk is being distributed through dispersion of staking volume and gradual expansion of validator slots. However, as a financial specialty chain, the possibility of being targeted by regulatory authorities (AML/KYC issues) and smart contract security incidents that may occur during the HyperEVM expansion process are key risks that require continuous management.
Source PDF
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Report Type
Crypto Economy Analysis
Version
v3
Analysis Date
May 28, 2026
Language
en
Disclaimer: This report is generated through AI-powered analysis and market data. This is not investment advice. All investment decisions should be made at your own risk.