Hyperliquid Lists Useless Coin Perps with Up to 3x Leverage

Hyperliquid, a Layer-1 blockchain and decentralized perpetual futures exchange, has listed Useless Coin ($USELESS) perpetual futures contracts with up to 3x leverage. This addition brings the total number of perp markets on Hyperliquid to over 190.

The listing is notable because it caps leverage at 3x for $USELESS, a conservative ceiling compared to other assets on the platform. For context, Hyperliquid allows up to 50x leverage on Bitcoin perpetuals, but the lower limit acknowledges the elevated risk of trading a token with no inherent value.

$USELESS is a Solana SPL token launched on May 10, 2025, with a total supply of 1 billion tokens allocated entirely to liquidity. The project's entire pitch revolves around its lack of a pitch, roadmap, or ecosystem partnerships, just 'vibes' and irony.

The token's fully diluted valuation is approximately $300 million due to its $0.30 price point at the time of listing. This move reflects Hyperliquid's approach to responding to community demand, as the platform has already processed trillions in cumulative transaction volume since launching in 2023.