Decentralized perpetuals exchange Hyperliquid crossed $1 billion in cumulative protocol revenue on June 30, 2026, according to the report cited by Odaily. The platform posted about $492 billion in trading volume in the first quarter of 2026, ranking behind only Coinbase by volume. Hyperliquid said roughly 97% to 99% of protocol fees are routed through its Assistance Fund to buy back HYPE on the open market. In total, more than 41 million HYPE tokens have been repurchased and burned, with a value exceeding $1 billion. The report also said Hyperliquid runs on its own blockchain, while HIP-3 lets users create permissionless asset markets based on price feeds. Protocol revenue mainly comes from fees charged when opening and closing trades, as well as fees for launching new markets. Funding payments are exchanged periodically between longs and shorts, and are not retained by the protocol.
Hyperliquid, a decentralized perpetual futures trading platform, surpassed $1 billion in cumulative protocol revenue on June 30, 2026, according to the report cited by Odaily.
The platform recorded about $492 billion in trading volume in the first quarter of 2026. By trading volume, it ranked behind only Coinbase.
Hyperliquid said about 97% to 99% of protocol fees are used through its Assistance Fund to buy back HYPE on the open market. The platform has repurchased and burned more than 41 million HYPE tokens in total, valued at more than $1 billion.
How the protocol generates revenue
Hyperliquid operates on its own blockchain. The report said HIP-3 allows users to create permissionless asset markets based on price feeds.
Protocol revenue mainly comes from fees charged for opening and closing trades, along with fees collected for creating new markets. Funding payments are exchanged periodically between long and short traders, and the protocol does not retain that portion.
The report was attributed to Bitcoin.com News.
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