HyperLiquid ($HYPE) is a decentralized perpetual exchange project built on a proprietary Layer 1 blockchain. Its primary goal is to recreate the seamless trading experience typical of centralized exchanges (CEXs) but in a decentralized manner, prioritizing user experience, security, and transparency. By integrating features common to both decentralized applications (dApps) and traditional trading platforms, HyperLiquid fulfills the need for speed, efficiency, and user satisfaction in crypto trading.
The utility token, $HYPE, plays a crucial role within this ecosystem, providing liquidity for dApps deployed on HyperEVM. This functionality paves the way for developers to create innovative financial services that are fast and cost-effective, thereby expanding the DeFi landscape.