- Hyperwave launched hwHLP, the first liquid token that earns yield from the Hyperliquidity Provider vault (HLP).
- Users can deposit stablecoins like USDe and USDT0 to mint hwHLP, which can be used across the HyperEVM for boosted yield strategies.
In a major step toward building the Hyperliquid DeFi SuperApp, Hyperwave has launched hwHLP, the first-ever liquid token that accrues yield from the Hyperliquidity Provider vault (HLP).
This launch establishes a new foundation of utility, accessibility, and composability on the HyperEVM.
HLP, a community-owned vault on Hypercore, was created to democratize access to revenue streams like market-making, liquidations, and trading fees, opportunities previously reserved for the privileged few.
With hwHLP, those benefits are now packaged into a liquid, yield-bearing token available to anyone within the HyperEVM.
How the hwHLP Token Works
Users can deposit stablecoins such as USDe and USDT0 to receive hwHLP. Once minted, the token begins accruing yield from the underlying HLP vault.
hwHLP holders can further boost yield through integrations with Hyperswap, Kittenswap, and future protocols enabling looping, lending, and collateralisation across and beyond the HyperEVM.
Thanks to infrastructure support from USDT0, RedStone, Pyth, and LayerZero, hwHLP and its deposit assets are multi-chain compatible without requiring wrapping.
To onboard the community, Hyperwave is waiving all fees for a minimum of 90 days. After this period, fees will remain below market rate, ensuring continued value for users.
Incubated by Swell Labs, Hyperwave is backed by key HyperEVM protocols like Hypurrfi, Felix, and KittenSwap.
“Hyperwave DAO aims to help Hyperliquid become the blockchain to house all of finance... born out of a shared passion to see crypto win,” said Daniel Dizon, founder of Hyperwave DAO and Swell Labs.
Edited by Annette George
