Lemniscap leads a 3 million pre-seed round. Smart contract automatic settlement and dynamic position updates—an experiment to make proprietary trading more transparent. Once it’s publicly released, we’ll see how it performs by its actual transaction volume/cashflow.

Hyperliquid’s proprietary trading platform, Hypernova, has completed a $3 million pre-seed funding round, led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, Pivot Global, and other angel investors. Hypernova automates trader payments through smart contracts, addressing the problem in traditional proprietary trading where payment is opaque and profitable/earning traders become the company’s liabilities, and it can dynamically route positions based on trader quality. It is currently in a closed alpha and plans to be released to the public within two months.