PANews reported on May 29th that Hypernova, a proprietary trading platform built on Hyperliquid, has completed a $3 million pre-seed funding round, led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, and Pivot Global. Several angel investors from the Hyperliquid ecosystem also participated in this round.

This platform uses smart contracts to automate trader payments, aiming to address issues such as opaque payment processes and profitable traders becoming liabilities in traditional proprietary trading firms. Hypernova can dynamically decide whether to push positions to the market based on trader quality. The platform is currently in a closed alpha phase and is planned for public release within the next two months.