Author: Stacy Muur
Translation: Jinse Finance
In this article, I will briefly introduce 10 emerging Hyperliquid native protocols that I am currently following:
1. M Onetrix : A native yield-maximizing protocol on Hyperliquid, it's a single stablecoin driven by portfolio margins, integrating funding fees, HLP, maker rebates, and HIP-3 into a single on-chain aggregate yield. It can be understood as a Hyperliquid version of Ethena.
2. ROSETTA : Automated stablecoin yield routing on Hyperliquid. After depositing USDC, the system automatically migrates funds between Felix, Hyperlend, Morpho, Aave, and HLP to the protocol with the highest current yield at each block, while calculating gas fees and slippage costs.
3. papertrade.xyz : A fair-launched perpetual contract protocol on Hyperliquid, offering up to 1000x leverage with no funding fees and no slippage. Transaction execution is based on price oracles rather than order books, and the entire process is completed on-chain.
4. alt.fun : Launchpad on Hyperliquid, where each token is paired with a leveraged perpetual position, allowing you to establish 2x, 3x, or 5x long or short positions in any HL market. The token price is influenced by both trading activity and the performance of the underlying perpetual position.
5. Ventures : Pre-IPO perpetual contracts on Hyperliquid. Built on HIP-3, they allow long or short positions on the valuations of unlisted companies such as OpenAI, SpaceX, and Stripe, with leverage up to 10x.
6. Liminal : A Delta-neutral yield protocol on Hyperliquid. Deposit stablecoins , capture funding rates through automated short positions, and reuse generated xTokens (xBTC, xETH, xHYPE) as collateral within the DeFi ecosystem.
7. Melt : Brings tokenized stocks, commodities, and equity assets to the Hyperliquid spot market. You can trade real-world assets (RWA) on the same order book as BTC, 24/7, through your own wallet.
8. Chainsight : An oracle and data infrastructure protocol on Hyperliquid. It builds modular data stream pipelines, providing price sources, volatility indices, and risk metrics with latency of less than 3 seconds, powering new derivatives on HL.
9. rip.xyz : Tokenized Vault Strategy on HyperEVM. The flagship product rHYPURR allows you to gain liquidity and fragmented exposure to a Hypurr NFT managed basket backed by WHYPE and priced hourly at net asset value (NAV) through ERC-4626 shares.
10. Markets : The Hyperliquid perpetual contract exchange built by the Kinettiq team. It offers 24/7 trading of stocks, forex, commodities, bonds, and crypto perpetual contracts, supporting up to 50x leverage. All contracts are backed by USDH and priced using Kaiko's institutional-grade oracles.
In summary, Hyperliquid is moving beyond perpetual contracts and evolving into a complete on-chain financial stack. The aforementioned protocols are the underlying components that natively build real returns, liquidity, and new products.
