Hyperwave has launched hwHLP, the first-ever liquid token that accrues yield from the Hyperliquidity Provider vault (HLP).

The launch marks the first major step in Hyperwave’s mission to build the Hyperliquid DeFi SuperApp.

Hyperliquidity Provider (HLP) is a community-owned vault on Hypercore that democratizes access to market-making, liquidations, and trading fees—revenue sources that were previously reserved for the privileged few.

Hyperwave HLP (hwHLP) brings a liquid, yield-bearing HLP token to the HyperEVM for the first time. This unlocks additional composability, utility, and accessibility for HLP, providing a new foundation of yield to turbocharge the HyperEVM.

Hyperwave is incubated by Swell Labs with the support of key HyperEVM protocols including Hypurrfi, Felix, and KittenSwap, along with infrastructure partners USDT0, RedStone, Pyth, and LayerZero, which makes hwHLP and deposit assets USDe and USDT0 multi-chain without wrapping.

How hwHLP works

  1. Deposit stablecoins (including USDe and USDT0) and get hwHLP.

  2. Earn HLP yield.

  3. Boost your HLP yield in protocols including Hyperswap and Kittenswap, plus future looping, lending, and stablecoin collateralization opportunities across the HyperEVM and beyond.

Get hwHLP

app.hyperwavefi.xyz

Zero fees

To celebrate the launch and give back to the Hyperliquid community, hwHLP fees will be zero for a minimum of 90 days from launch, after which they will remain below market rate.

 “Hyperwave DAO aims to help Hyperliquid become the blockchain to house all of finance. Our objective is to accelerate the liquidity, utility, and adoption of the HyperEVM in alignment with Hyperliquid. Hyperwave DAO is a project that was born out of a shared passion to see crypto win.” – Hyperwave DAO and Swell Founder Daniel Dizon

About Hyperwave

Hyperwave is the HyperEVM DeFi super app that aims to help Hyperliquid house all of finance. Hyperwave’s hwHLP is a yield-bearing token that brings HLP’s market-making and trading fee revenue to the HyperEVM.