Hyperliquid Exchange Overview and How to Use It (feat. Fee Discount)

Hyperliquid, which combines the fast trading speed of centralized exchanges with the transparency of blockchain, is changing the game in the crypto market.

With over 100,000 orders processed per second, 0.2-second block latency and a fully on-chain design, Hyperliquid is pushing past the limits of established exchanges like Binance.

In this post, we'll look at what Hyperliquid is, how to use it, its key features, and how to get fee discounts and earn airdrop points.

What Is Hyperliquid?

Hyperliquid isn't just a decentralized exchange. Hyperliquid is an on-chain financial ecosystem built on its own Layer 1 blockchain. It has the advantage of being fast, secure and transparent.

🟢 Go to Hyperliquid

Hyperliquid Is Growing Fast

Hyperliquid is growing rapidly and has overtaken all of its existing DEX competitors to take first place in the market. Its trading volume is dozens of times larger than that of second-place dYdX, giving it an overwhelming market share.

Meanwhile, compared with centralized exchanges such as Binance, Bybit and OKX, Hyperliquid's trading volume still falls short, but it is closely chasing Gate, which sits in the top 10, ranking just below it.

Hyperliquid's native application, the Hyperliquid decentralized exchange (Hyperliquid DEX), runs entirely on-chain, and all trading records and fund flows are publicly transparent.

How Do You Use Hyperliquid?

To use Hyperliquid, visit the link below. After connecting your wallet, enter the referral code HYPERDEX to get a lifetime 4% discount on fees.

• Hyperliquid exchange: https://app.hyperliquid.xyz/join/HYPERDEX

Next, click [Connect] in the top right corner to connect a personal wallet such as MetaMask or OKX Wallet. If you don't have a wallet, you might consider OKX Wallet, which is easy to use.

Deposits to the Hyperliquid exchange can be made by on-chain transfer over the Arbitrum network, and you can deposit USDC or USDT and start trading.

What Are Hyperliquid's Fees?

The base fees on the Hyperliquid exchange are 0.01% for makers and 0.035% for takers. This is cheaper than the typical base fees of existing centralized exchanges, which are 0.02% for makers and 0.04% for takers.

That's not all. These are just the base fees, and Hyperliquid offers fee discounts based on your 14-day average trading volume. For example, if your trading volume over the past two weeks is $25 million or more, you reach Tier 2 and get a taker fee of 0.025% and zero maker fees.

Hyperliquid DEX focuses on futures trading and offers advanced trading features such as TWAP orders, scaled orders, and take-profit and stop-loss orders.

What Are Hyperliquid's Key Features?

At the core of Hyperliquid is the HyperBFT consensus algorithm. This algorithm optimizes existing HotStuff-based technology to deliver both ultra-fast transaction processing and security.

In addition, block latency is under one second and MEV risk is minimized, providing an efficient and secure trading environment. These technical features make possible a user experience that rivals centralized exchanges such as Binance and Bybit.

In particular, the HIP-1 and HIP-2 token standards for spot trading showcase Hyperliquid's innovative approach to liquidity management. HIP-1 is a native token standard that makes it easy to create on-chain order books, while HIP-2 integrates liquidity pools with order books to enable more flexible liquidity provision.

Liquidity providers supply liquidity to trading pairs and are rewarded through a 0.3% spread. This model is designed to respond immediately even when demand for liquidity surges.

The Hyperliquid Ecosystem and the $HYPE Coin

At the center of the Hyperliquid ecosystem is the $HYPE coin. The HYPE coin plays a central role in running the Hyperliquid network and expanding its ecosystem. It also supports the decentralization of the validator network while maintaining both network stability and performance.

You can buy the Hyperliquid coin on Hyperliquid DEX or on exchanges such as Bitget, Gate and BingX. If you buy HYPE on Hyperliquid DEX, you can also stake it right away and earn returns.

How Can You Earn on Hyperliquid?

There are several ways to earn on Hyperliquid. The first is HYPE staking. Through Hyperliquid's [Staking] menu, you can stake the HYPE you hold and earn interest.

The second is providing liquidity. Through its HLP (Hyperliquidity Provider) program, Hyperliquid provides liquidity and shares the protocol's revenue with the community. Anyone can provide liquidity through HLP and earn returns as well. To date, earnings through HLP have exceeded $30 million.

Finally, the Hyperliquid Vaults feature lets users deposit funds and earn returns by copying the strategies of professional traders.

How Do You Earn Hyperliquid Airdrop Points?

The Hyperliquid airdrop for early users has already ended. However, a points system is currently running, and a substantial amount of $HYPE tokens is expected to be airdropped to the community in the future.

To earn points, you need to trade on Hyperliquid DEX and accumulate points. Register your wallet on Hyperliquid and enter the referral code HYPERDEX. Along with future airdrop benefits, you'll get a 4% discount on fees.

The On-Chain Binance: What's Next for Hyperliquid?

Hyperliquid delivers both the user experience of a centralized exchange and the transparency of blockchain, setting a new standard for perpetual DEXs built on an on-chain ecosystem.

Hyperliquid isn't just a decentralized exchange. It is a financial solution building an innovative on-chain financial ecosystem, and it is expected to achieve even greater growth in the future.