HyENA, a perpetual futures trading platform built on Hyperliquid's HIP-3 standard and backed by Ethena's USDe as margin, has announced its closure. The team cited Hyperliquid's deepening integration with USDC as the reason the role of USDe-backed margin on the platform has changed. User funds remain unaffected. Markets will be delisted one by one hourly from August 31 to September 2, with positions auto-settled at the mark price at the time each market goes offline. HLPe deposits are redeemable 1:1 anytime via Upshift, subject to a one-day redemption period. HyENA Points will not be snapshotted or converted into tokens, and no token issuance is planned.
HyENA, a perpetual futures trading platform built on Hyperliquid's HIP-3 standard and using Ethena's USDe as margin, has announced it is shutting down. The team said that as Hyperliquid deepens its integration with USDC, the role of USDe-backed margin on the platform has fundamentally changed, prompting the decision to close the project.
User funds are not affected. All markets will be delisted gradually from August 31 to September 2 at a pace of one market per hour. Positions will be automatically settled at the mark price at the time each market goes offline, with no action required from users. HLPe deposits can be withdrawn 1:1 at any time via Upshift, subject to a one-day redemption period.
HyENA Points will not be snapshotted or converted into tokens, and the project has no plans to issue a token.
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