Hyperliquid Dominates Perpetual Futures Trading in DeFi

Hyperliquid is becoming the go-to platform for traders looking to leverage perpetual futures in DeFi. The decentralized exchange, founded by Jeff Yan and iliensinc, has attracted hundreds of developers, including big names like MetaMask and Phantom wallet, who are using its 'builder codes' to integrate perps trading into their platforms.

By providing a shared liquidity pool and fast execution, Hyperliquid is enabling builders to focus on user experience while it handles the backend infrastructure. This composability concept in DeFi allows for new tokenized financial products to be built upon the platform's existing liquidity.

According to Flowscan, builders have generated over $90 million in revenue so far, with some notable examples including MetaMask and VALR, a large centralized exchange that has plugged into Hyperliquid's order book to access its liquidity.