Hyperliquid

Hyperliquid is a high-performance decentralized exchange (DEX) designed specifically for perpetual futures trading. What sets it apart is its unique architecture: it’s built on its own dedicated Layer-1 blockchain, rather than on a pre-existing network like Ethereum or Solana. This custom-built chain, which uses the HyperBFT consensus mechanism, enables it to achieve sub-second transaction finality and handle up to 200,000 orders per second, rivaling the speed and efficiency of traditional centralized exchanges (CEXs) without compromising on decentralization.

A key feature is its fully on-chain order book, which ensures that every order and transaction is transparently recorded on the blockchain, eliminating the need for off-chain order matching. This provides traders with a familiar, CEX-like experience—complete with advanced order types and up to 50x leverage—while maintaining full self-custody of their funds. Hyperliquid’s gas-free trading and low fees further enhance its appeal, making it a powerful platform for professional traders and DeFi enthusiasts.