In approximately one month, the active validator set will increase from 24 to 27 validators. The validator set will remain permissionless, as it currently is.

Validators are encouraged to carefully understand the technology and familiarise themselves with testnet before proceeding with mainnet. Note that the self-delegation of 10k HYPE is locked by the protocol for one year. This lockup applies even if a validator is not part of the active set, and should be carefully considered before committing the stake.

Weekly Update

Product & Tech
+ Coinbase and Circle announced their plans to activate AQAv2 on USDC. HIP-4 markets will use USDC as the quote asset in a future network upgrade. For more, see https://tg-me.sbs/hyperliquid_announcements/548
+ In approximately one month, the active validator set will increase from 24 to 27 validators. Note that the validator set will remain permissionless, as it currently is.

Trading
+ HIP-3 markets reached a new ATH of $2.6B in open interest
+ Trade.xyz's CBRS market transitioned from pre-IPO perp (IPOP) to a regular perp, and SPCX IPOP was listed: https://x.com/tradexyz/status/2056159560470319515

New Teams on the HyperEVM & HyperCore (in no particular order)
+ Euler is transitioning HypurrFi lending in-house: https://x.com/eulerfinance/status/2055307187061231838
+ Liquidiction added support for HIP-4: https://x.com/liquidictionhl/status/2050507593378861404

Validators will vote on whether to delist BLAST, CHILLGUY, FTT, and TST around 25 May 2026 at 09:00 UTC, based on stalequant's methodology and community request.

If validators vote to delist an asset, the perps will settle to the 1 hour time weighted spot oracle price before the scheduled delisting voting time, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.

Hyperliquid now supports canonical outcome markets based on offchain events. The markets are published by automated newsfeed software that validators run as part of their regular chain operations. Validators vote on deployment and settlement of canonical markets based on a variety of factors, including unambiguous rules, correctness, and subjective quality of the market.

Weekly Update

Product & Tech
+ Hyperliquid now supports canonical outcome (HIP-4) markets based on offchain events, with the first markets being May CPI year-over-year change and the June federal funds rate change. HIP-4 markets also now use USDC as the quote asset
+ Updated Docs on Account Type and Portfolio Margin to help answer user questions: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/account-abstraction-modes, https://hyperliquid.gitbook.io/hyperliquid-docs/support/faq/portfolio-margin

Trading
+ BLAST, CHILLGUY, FTT, and TST were delisted

New Teams on the HyperEVM & HyperCore (in no particular order)
+ Bounce deployed a leveraged token product: https://x.com/BounceTech/status/2056740906565320843
+ MoonPay fiat onramp integrated HyperCore USDC: https://x.com/moonpay/status/2057814699480125807
+ Worm terminal added support for HIP-4: https://x.com/wormwtf/status/2056414229193011698

USDT has been enabled as borrowable for portfolio margin on testnet, and will be enabled on mainnet on the next network upgrade. As a reminder, any bugs relating to portfolio margin are eligible for mainnet-level bug bounties.

Weekly Update

Product & Tech
+ The permissionless validator set increased to 27
+ USDT was added as a borrowable asset to portfolio margin

Trading
+ HIP-3 markets reached a new ATH of $3.1B in open interest

New Teams on the HyperEVM & HyperCore (in no particular order)
+ Talos integrated Hyperliquid for its institutional clients: https://x.com/talostrading/status/2059243635137196347
+ Trust Wallet added support for HIP-4: https://x.com/TrustWallet/status/2060335232008474996

Community Highlights
+ hl.eco built a Hyperliquid dashboard: https://x.com/hl_eco/status/2058896726551867573
+ The French HL community is organizing an event today in Paris: https://x.com/HyperliquidFR/status/2061354109882466762

Weekly Update

Product & Tech
+ See the API announcements channel re: updates to order modifies and snapshot-based websocket API endpoints

New Teams on the HyperEVM & HyperCore (in no particular order)
+ Nansen integrated Hyperliquid perps via builder codes: https://x.com/nansen_ai/status/2064249419047080099
+ Near Protocol integrated Hyperliquid perps via builder codes: https://x.com/NEARProtocol/status/2064347905025102082
+ Rhea integrated Hyperliquid perps: https://x.com/rhea_finance/status/2062200556232565091
+ TrueNorth, an agent-focused trading platform, launched using Hyperliquid: https://x.com/get_truenorth/status/2062160092489990166

Community Highlights
+ The NL community is organizing an event on June 22 in Amsterdam: https://x.com/hypurr_nl/status/2059549922702082140
+ Users can redeem USDH on HyperEVM 1:1 for USDC on HyperCore with no fees via Across: https://x.com/nativemarkets/status/2063015221921489029, https://across.to/?from=hyperevm&to=hypercore&inputToken=USDH&outputToken=USDC-SPOT
+ WSJ featured an article on Hyperliquid: https://x.com/WSJ/status/2061833108488433768

Hyperliquid now supports recurring daily ETH, HYPE, and SOL binary outcomes. Like BTC daily outcomes, these are automatically deployed and settled daily at 06:00 UTC to the Hyperliquid mark price of the underlying perp asset, e.g., ETH-USDC

See Docs: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/contract-specifications#recurring-outcomes

Validators will vote on whether to delist TON around 9:00 UTC on 15 June. TON is rebranding to GRAM.

If validators vote to delist an asset, the perps will settle to the 1 hour time weighted spot oracle price before the scheduled delisting voting time, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.

Under AQAv2, USDC balance between the linked contract 0x6b9e773128f453f5c2c60935ee2de2cbc5390a24 and the treasury address 0xc20699185c15D0a2fD65779BB5d69f5b0B113c00 are balanced in a 1:9 ratio via system transactions that execute automatically on every HyperEVM block. Circle is serving as the technical deployer, with Coinbase as the treasury deployer.

Under AQAv2, stablecoin deployers share approximately 90% of cost-adjusted reserve yield revenue on their Hyperliquid supply with the protocol. Reserve yield revenue accrues in 30 day intervals, automatically sent to the Assistance Fund 8 days after each interval completes. There is a built-in implementation grace period, with AQAv2 yield accrual beginning on August 26 and the first payment made on October 3.

Weekly Update

Product & Tech
+ AQAv2 was activated for USDC
+ Recurring daily ETH, HYPE, and SOL binary outcomes are now supported

Trading
+ Trade.xyz's SPCX market transitioned from pre-IPO perp (IPOP) to a regular perp
+ TON was delisted as part of its rebrand to GRAM
+ As part of the USDH sunset, all USDH-denominated markets on HyperCore, including HIP-3 DEXs Ventuals, Kinetiq, and Felix, will complete settlement by June 20. Users can swap USDH for USDC on the spot order book: https://app.hyperliquid.xyz/trade/USDH/USDC or swap USDH on the HyperEVM for USDC 1:1 with no fees via Across: https://across.to/?from=hyperevm&to=hypercore&inputToken=USDH&outputToken=USDC-SPOT

New Teams on the HyperEVM & HyperCore (in no particular order)
+ Fomo integrated Hyperliquid via builder codes: https://x.com/fomo/status/2065102110673277330
+ Markets.xyz Android app was released: https://x.com/Markets_xyz/status/2065115343824003563