Hyperliquid's Momentum: Numbers, Milestones & What Comes Next

Full Decentralization: Hyperliquid is in a multi-phase process to completely decentralize its network, with this being a top priority for the next 6-12 months. This includes plans for open-sourcing node code and supporting multiple binaries for validators.
Validator Expansion: The network has successfully expanded its validator set, reaching 21 active validators by April 22, 2025, and enabling permissionless validators where the top 20 stakers form the active set.
Token Utility Expansion: Plans are in place to grow the $HYPE token's role in governance, staking perks, and ecosystem rewards. Staking tiers offering trading fee discounts based on staked $HYPE went live on March 19, 2025.
Permissionless API Servers: Future plans include allowing anyone to run an API server pointing at any node, further enhancing decentralization.

Total Volume and No. of Traders:

Advanced Trading Features: Recent implementations include sub-accounts (Jan 23, 2024), TWAP orders (Feb 21, 2024), and fee tiers (Mar 10, 2024) to reward high-volume users. Account Abstraction was launched on June 25, 2024, enabling trading with just an email and on mobile.
Multi-Sig Security: Native multi-sig launched on Feb 12, 2025, for enhanced security.
Major Integrations: Hyperliquid integrated BTC (Feb 15, 2025), USDe (May 5, 2025), and USDT (May 9, 2025) for spot trading and HyperEVM support, with major crypto integrations (BTC, ETH, and SOL) by May 15, 2025.
HIP-3 Mainnet: The mainnet launch for HIP-3, enabling permissionless perpetual orderbook deployment and complete decentralization of perp listing, is planned.

Mainnet Launch: HyperEVM, an Ethereum-compatible smart contract execution environment, launched on February 18, 2025, enabling general-purpose programmability.
Atomic Composability: HyperCore and HyperEVM feature atomic transfer with ERC-20 contracts (Mar 25, 2025), allowing builders to read HyperCore state atomically from smart contracts. This enables new forms of DeFi.
Integrated Architecture: HyperEVM's design allows developers to deploy Solidity-compatible smart contracts while directly accessing HyperCore's native liquidity, eliminating bridge risk and enabling direct composability.

Hyperliquid is a high-speed Layer 1 blockchain and DEX known for its fully on-chain order book and low-latency trading.

HYPE powers staking, governance, fee discounts, and ecosystem incentives across the network.

HyperEVM enables Ethereum-compatible smart contracts with direct access to Hyperliquid's native liquidity.

It combines a fully on-chain order book with high-speed execution and decentralized infrastructure.

Hyperliquid aims to become a unified blockchain supporting both crypto and traditional financial markets.