If you’ve been following crypto for a while, you’ve probably heard about decentralized exchanges (DEXs). They’ve become some of the most widely used applications in crypto because they let people swap assets directly, like exchanging USD for Yen or Yen for Euro.
One platform that’s been gaining a lot of attention in 2025 is Hyperliquid (HYPE). It’s built to combine the best of both worlds, giving you the speed and smooth experience you’d expect, while still keeping everything within DeFi.
What is Hyperliquid?
Hyperliquid is a next-generation decentralized exchange built on its own custom Layer-1 blockchain. It’s designed to remove the slow, clunky experience many DEXs have struggled with and instead give users a system that feels fast, reliable, and easy to use. Some of the key features include:
- A fully on-chain order book
- Lightning-fast transactions
- Little to no gas fees
- Tools that feel familiar to anyone who has used a major exchange
The result is a platform that combines performance with accessibility while keeping you fully in control of your assets.
The History of Hyperliquid
Hyperliquid launched in 2023, founded by Harvard classmates Jeff Yan and Iliensinc, who teamed up with engineers and finance experts from Caltech, MIT, Citadel, and Hudson River Trading. What makes it stand out is that it wasn’t fueled by venture capital.
Instead, in late 2024, the team distributed about 70% of HYPE tokens through a massive community-driven airdrop, ensuring everyday users were at the heart of the project.
What is the HYPE Token?
HYPE, Hyperliquids' native cryptocurrency, is the lifeblood of the ecosystem. Here’s what it does:
- Governance: HYPE holders can shape the platform by voting on upgrades, fees, and new features.
- Staking Rewards: You can stake HYPE with validator nodes to earn yields and share in platform revenue.
- Platform Utility: HYPE powers activities on the network, including gas-free or low-fee transactions and smart contract interactions.
- Deflationary Design: With a burn rate of about 26% each year, the supply shrinks over time, supporting scarcity and long-term value.
Buy and Sell Hyperliquid (HYPE) at iTrustCapital
If you’re interested in adding HYPE to your portfolio, iTrustCapital makes it simple. You can buy and sell HYPE in two ways:
- Tax-Advantaged Crypto IRA: A retirement account with potential tax benefits*
- Secure Premium Custody Account: A non-IRA operating in a closed-loop system
Click here to open an account today!
*Some taxes may apply.
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Disclaimer
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