Hyperliquid co-founder: HLP pioneers permissionless vaults, has returned $60 million in profits.

WuSaidBlockchainW · 2025-04-05T14:38:48+00:00

Jeff, co-founder of Hyperliquid, stated that HLP is a pioneering permissionless protocol vault that returned $60 million in profits to depositors; HLP operates on CEX, and the profits do not all belong to users; the role of HLP is market making and backup clearing, operating a passive strategy that accounts for less than 2% of total volume; there is exposure to manipulation risk, but the claim about the platform's solvency risk is incorrect.

WuSaidBlockchainW

2025-04-05 14:38:48

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According to Wu, Jeff, the co-founder of Hyperliquid, stated that HLP is a permissionless protocol treasury pioneered by Hyperliquid; HLP does not charge fees to depositors and has historically returned $60 million in profits to depositors; on CEX, these profits typically flow to internal market-making departments rather than to users; HLP plays two roles: market-making and backup clearing, in terms of market-making, HLP operates a passive strategy that accounts for less than 2% of Hyperliquid’s total volume; HLP only executes backup clearing, which means taking over positions that cannot be cleared in the market; the claim that the platform itself is at risk of insolvency is incorrect, but HLP is indeed overexposed to manipulation.

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