We’re excited to announce that Bitso is one of the first global exchanges to list HYPE, the native token of Hyperliquid — a rapidly growing decentralized trading protocol built for speed, transparency, and composability. This listing gives Bitso users early access to a high-performance ecosystem that has already captured significant attention and trading volume across the DeFi space.
What is Hyperliquid?
Hyperliquid is not just another DEX; it’s a custom Layer-1 blockchain protocol purpose-built to deliver a professional-grade trading experience entirely on-chain. Every component of the platform —from order books and cancellations to trade executions and staking— is processed directly on-chain with sub-second finality and without any gas fees for users.
Rather than relying on third-party infrastructure, Hyperliquid operates on a dual-layered architecture that combines performance and programmability:
- HyperCore is the high-speed, on-chain trading and settlement engine optimized for throughput and financial precision.
- HyperEVM is the EVM-compatible smart contract environment that connects users via wallets like MetaMask, allowing them to interact with dApps, NFTs, vaults, and governance features.
This setup allows developers and advanced traders to operate with centralized-level performance while maintaining self-custody and transparency. Think of it as a high-speed financial operating system, purpose-built for capital markets on the blockchain.
Why HYPE matters
HYPE is the utility and governance token of Hyperliquid. It plays a central role in securing the network, enabling trading and vault activity, and aligning incentives across users, developers, and market makers.
Key use cases of HYPE include:
- Trading collateral: HYPE can be used as margin collateral for perpetual trading on the platform.
- Staking and governance: Users can stake HYPE to participate in delegated governance and help secure the network.
- Validator rewards: HYPE is used to compensate validators for processing transactions on HyperEVM, where users are not required to pay gas fees.
- Vault participation: Users can deposit HYPE into vault strategies to earn returns from market-making operations.
- Buybacks and burns: A great portion of protocol revenue is used to buy back and burn HYPE, reinforcing its long-term value.
Hyperliquid’s traction speaks for itself: with tens of billions in weekly trading volume in perpetual futures contracts, it is already the most-used decentralized derivatives platform globally.
Understanding how to use HYPE
HYPE is the native crypto of Hyperliquid—a next-generation decentralized trading protocol designed to process a high volume of transactions per second (TPS) with full on-chain efficiency. While the protocol is structured around two distinct components—HyperCore and HyperEVM—both are integral to how HYPE functions across the ecosystem.
Each layer serves a specific function in enabling performance and programmability within the protocol. HyperCore is optimized for speed and financial operations, while HyperEVM offers compatibility with wallets like MetaMask to interact with smart contracts. Internally, HYPE moves between these layers via a native transfer mechanism that bypasses traditional cross-chain bridging. This architecture provides flexibility to users and developers alike, while requiring some technical understanding of how the token moves between environments and functions in each of them.
Availability on Bitso
As of today, HYPE is available for conversions on the Bitso. Users can also gain exposure to the token’s market movements through our advanced trading platform—Bitso Alpha— with full access to price discovery and liquidity.
However, deposits and withdrawals will not be enabled at launch. While HYPE operates across multiple layers of the Hyperliquid protocol, current support is limited to the version compatible with standard wallet infrastructure (HyperEVM).
We are closely monitoring the evolution of the network’s tooling and accessibility, and may enable full deposit and withdrawal functionality once broader integration is feasible. In the meantime, users can confidently trade HYPE on the Bitso app and Bitso Alpha, knowing that further product enhancements remain on our roadmap.
Final Thoughts
By listing HYPE, Bitso reaffirms its position as an early mover in supporting emerging DeFi infrastructure. Hyperliquid’s unique dual architecture, gasless trading, and institutional-grade speed make it one of the most promising developments in on-chain finance. With HYPE now available, our users can tap into this next-generation financial layer, directly from Bitso.
Disclaimer
This blog post is for informational purposes only and does not constitute financial or investment advice. HYPE is a crypto asset native to the Hyperliquid protocol, which operates on a dual-layered architecture (HyperCore and HyperEVM). Bitso currently supports only the HyperEVM-compatible version of the token. Deposits and withdrawals are not enabled at this time. Users should avoid attempting to transfer HYPE from unsupported networks, as doing so may result in the permanent loss of funds. Bitso strongly encourages users to conduct their own research (DYOR) and fully understand the structure of the Hyperliquid ecosystem before engaging with the asset. Cryptocurrency trading carries risk and may not be suitable for all investors.
