Hyperliquid has increased open interest to $10 billion - ForkLog

# Hyperliquid has increased open interest volume to $10 billion

Open interest volume on the Hyperliquid platform has exceeded $10 billion. The protocol ranked third among the largest platforms for trading perpetual futures, according to the Talos report.

Source: Talos. The growth in metrics enabled the launch of markets for traditional assets — stocks, commodities, and indices. About $4 billion of open interest was attributed to decentralized exchanges created by third-party developers within HIP-3.

Source: Talos. According to the report, traders are actively using synthetic instruments. Oil and Nasdaq 100 index regularly account for over $100 million in daily trading volume. Pre-IPO markets also attracted notable interest: before SpaceX's listing, open interest in the relevant contract reached $250 million.

Source: Talos. An important milestone in the ecosystem's development was the transition to USDC. After the acquisition of the USDH brand by Circle and Coinbase, the stablecoin became the platform's main settlement asset.

Under the partnership terms, issuers are required to stake HYPE tokens and share with the protocol the yield from reserves. Hyperliquid will receive about 90% of the profits from treasury bonds and repo transactions that back USDC within the network. At current rates, this will generate approximately $160 million annually for the platform.

Additional protocol revenue will be used to buy back and burn native HYPE tokens. The total buyback amount is expected to reach $450 million. According to the project's mechanics, burning will reduce the asset's supply and support its market value.

Recall that in May, the share of trading volume for perpetual futures on Hyperliquid grew to a record 6.63% of the total turnover on CEX — $200 million out of $3 trillion.