# Roadmap

A complete list of [announcements is available here](https://app.hyperliquid.xyz/announcements).

<figure><img src="/files/DtBIfFcffCye9HE9noui" alt=""><figcaption><p><a href="https://x.com/stevenyuntcap/status/1875221019356754143">Steven Timeline</a></p></figcaption></figure>

### **HyperBFT**

* TGE & Token

  <table><thead><tr><th width="204.66668701171875">Name</th><th width="358.3333740234375">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Closed Alpha End</strong></td><td>Points distributed to 11.5k users for activity before</td><td>✅ <a href="https://x.com/HyperliquidX/status/1779683269543666042">Oct 31, 2023</a></td></tr><tr><td><strong>Season 1</strong></td><td>Hyperliquid's points program</td><td>✅ <a href="https://x.com/HyperliquidX/status/1719149038858317863">Nov 1, 2023</a></td></tr><tr><td><strong>Season 1 End</strong></td><td>Season 1 completion</td><td>✅ <a href="https://x.com/HyperliquidX/status/1785452418173706721">May 1, 2024</a></td></tr><tr><td><strong>Season 2 (L1 Points)</strong></td><td>Expanded to an entire financial ecosystem</td><td>✅ <a href="https://x.com/HyperliquidX/status/1795683649960206488">May 29, 2024</a></td></tr><tr><td><strong>Hyper Foundation</strong></td><td>Creation and announcement of the TGE</td><td>✅ <a href="https://x.com/HyperFND/status/1845851735363027270">Oct 14, 2024</a></td></tr><tr><td><strong>Points Distribution</strong></td><td>Season 2 ended. Activity rewards for May, October, and early November 2024 with anti-Sybil checks</td><td>✅ <a href="https://x.com/HyperliquidX/status/1861663872274571595">Nov 27, 2024</a></td></tr><tr><td><strong>Genesis Launch</strong></td><td>$HYPE token launched at $3, marking ecosystem milestone</td><td>✅ <a href="https://x.com/HyperFND/status/1862007773191708760">Nov 29, 2024</a></td></tr><tr><td><strong>Expand Token Utility</strong></td><td>Grow $HYPE's role in governance, staking perks, and ecosystem rewards</td><td>🔄 Planned</td></tr><tr><td><strong>Drive Adoption</strong></td><td>Leverage price action and meme momentum for organic marketing</td><td>🔄 Planned</td></tr><tr><td><strong>Incentives</strong></td><td>42.81% of total incentives reserved for future distribution</td><td>🔄 Planned</td></tr></tbody></table>
* Staking

  <table><thead><tr><th width="204.66668701171875">Name</th><th width="358.33331298828125">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Staking Launch</strong></td><td>Mainnet staking with 400M+ $HYPE staked</td><td>✅ <a href="https://x.com/HyperFND/status/1873664112036901320">Dec 30, 2024</a></td></tr><tr><td><strong>Delegation Program</strong></td><td>Program to enhance network security and decentralization</td><td>✅ <a href="https://x.com/HyperFND/status/1896843804734599244">Mar 4, 2025</a></td></tr><tr><td><strong>Staking Tiers</strong></td><td>Trading fee discounts based on $HYPE staked amount</td><td>✅ <a href="https://x.com/HyperliquidX/status/1902304642392072660">Mar 19, 2025</a></td></tr><tr><td><strong>Team Stake Redistribution</strong></td><td>47M HYPE redistributed across 11 validators for decentralization</td><td>✅ <a href="https://x.com/JarryLim0110/status/1919772166666781034">May 6, 2025</a></td></tr></tbody></table>
* Validators

  <table><thead><tr><th width="205.33331298828125">Name</th><th width="358.33331298828125">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>HyperBFT Consensus</strong></td><td>Custom consensus algorithm for massive TPS improvements</td><td>✅ <a href="https://x.com/chameleon_jeff/status/1787140092735185365">May 5, 2024</a></td></tr><tr><td><strong>Initial Validator Set</strong></td><td>Validators expanded from 4 to 16 nodes</td><td>✅ <a href="https://x.com/Hyperliquid_Hub/status/1873670272852869592">Dec 30, 2024</a></td></tr><tr><td><strong>Permissionless Validators</strong></td><td>Top 20 stakers form active validator set</td><td>✅ <a href="https://x.com/HyperFND/status/1896843804734599244">Mar 4, 2025</a></td></tr><tr><td><strong>Onchain delisting voting</strong></td><td>Permissionless stake-based vote weighting primitive</td><td>✅ <a href="https://x.com/HyperliquidX/status/1905665684790784006">Mar 29, 2025</a></td></tr><tr><td><strong>21 Validators Active</strong></td><td>Reached 21 active validators</td><td>✅ <a href="https://x.com/HyperFND/status/1914520069897670826">Apr 22, 2025</a></td></tr><tr><td><strong>Full Decentralization</strong></td><td>Multi-phase process to completely decentralize the network (priority for next 6-12 months)</td><td>🔄 Planned</td></tr><tr><td><strong>Open Sourcing Node Code</strong></td><td>Code will be open source when it's secure to do so</td><td>🔄 Planned</td></tr><tr><td><strong>Multiple Binaries</strong></td><td>Even very mature networks like Solana have the vast majority of validators running a single client</td><td>🔄 Planned</td></tr></tbody></table>
* API

  <table><thead><tr><th width="205.33331298828125">Name</th><th width="357.6666259765625">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Permissionless API servers</strong></td><td>Anyone will be able to run an API server pointing at any node</td><td>🔄 Planned</td></tr></tbody></table>

### **HyperCore**

* DEX
  * Technical Infrastructure

    <table><thead><tr><th width="205.3333740234375">Name</th><th width="327">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Hyperliquid Q3 22 to Q2 23 Update</strong></td><td>Quarterly platform updates</td><td>✅ <a href="https://hyperliquid.medium.com/hyperliquid-q2-update-7c39c726c45b">Jul 6, 2023</a></td></tr><tr><td><strong>Hyperliquid Q3 23 Update</strong></td><td>Quarterly platform updates</td><td>✅ <a href="https://hyperliquid.medium.com/hyperliquid-q3-update-1fd4702975a9">Oct 5, 2023</a></td></tr><tr><td><strong>Sub-accounts</strong></td><td>Secondary account management</td><td>✅ <a href="https://x.com/HyperliquidX/status/1749590989251989912">Jan 23, 2024</a></td></tr><tr><td><strong>TWAP orders</strong></td><td>Time-weighted average price orders</td><td>✅ <a href="https://x.com/HyperliquidX/status/1760325603402654192">Feb 21, 2024</a></td></tr><tr><td><strong>Fee Tiers</strong></td><td>Reward high volume users while keeping fees low for everyone</td><td>✅ <a href="https://x.com/HyperliquidX/status/1758695511991718358">Mar 10, 2024</a></td></tr><tr><td><strong>Account Abstraction</strong></td><td>Trade with just an email and on mobile</td><td>✅ <a href="https://x.com/HyperliquidX/status/1805546795097112877">Jun 25, 2024</a></td></tr><tr><td><strong>Builder Codes Launch</strong></td><td>Native L1 primitive for app monetization</td><td>✅ <a href="https://x.com/chameleon_jeff/status/1841392573199585291">Oct 1, 2024</a></td></tr><tr><td><strong>Optional Hyperliquidity</strong></td><td>Spot assets can deploy with empty orderbooks</td><td>✅ <a href="https://x.com/stevenyuntcap/status/1883546284000469382">Jan 27, 2025</a></td></tr><tr><td><strong>Spot Token Fee Options</strong></td><td>Deployers can choose to receive trading fees instead of burning</td><td>✅ <a href="https://x.com/stevenyuntcap/status/1883546284000469382">Jan 27, 2025</a></td></tr><tr><td><strong>Multi-Sig Security</strong></td><td>Native multi-sig launched for enhanced security</td><td>✅ <a href="https://x.com/HyperliquidX/status/1889704752419848240">Feb 12, 2025</a></td></tr><tr><td><strong>Margin update</strong></td><td>Require 20% ratio on margin transfers</td><td>✅ <a href="https://x.com/HyperliquidX/status/1900199063880171578">Mar 13, 2025</a></td></tr><tr><td><strong>Staking Tiers</strong></td><td>New Fee System with trading fee discounts goes live</td><td>✅ <a href="https://x.com/HyperliquidX/status/1917107760694759920">May 5, 2025</a></td></tr><tr><td><strong>Margin Tiers</strong></td><td>Define the max leverage allowed as a function of notional position</td><td>✅ <a href="https://discord.com/channels/1029781241702129716/1030197017655394447/1374630391532486798">May 22, 2025</a></td></tr></tbody></table>
  * Integrations

    <table><thead><tr><th width="204.6666259765625">Name</th><th width="326.33331298828125">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>BTC Integration</strong></td><td>BTC spot trading, deposits, and withdrawals via Unit</td><td>✅ <a href="https://x.com/hyperunit/status/1890437173738107107">Feb 15, 2025</a></td></tr><tr><td><strong>USDe Integration</strong></td><td>USDe spot trading and HyperEVM support</td><td>✅ <a href="https://x.com/ethena_labs/status/1919373849097109991">May 5, 2025</a></td></tr><tr><td><strong>USDT Integration</strong></td><td>USDT spot trading and HyperEVM support</td><td>✅ <a href="https://x.com/USDT0_to/status/1920841189000884565">May 9, 2025</a></td></tr><tr><td><strong>Major Crypto Integration</strong></td><td>BTC, ETH &#x26; SOL</td><td>✅ <a href="https://x.com/hyperunit/status/1922801777407295658">May 15, 2025</a></td></tr></tbody></table>
* Vault

  <table><thead><tr><th width="205.33331298828125">Name</th><th width="358.33331298828125">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>HLP Launch</strong></td><td>Hyperliquidity Provider democratizing market making</td><td>✅ <a href="https://hyperliquid.medium.com/hyperliquidity-provider-hlp-democratizing-market-making-bb114b1dff0f">May 17, 2023</a></td></tr><tr><td><strong>Vault Deployment Fee</strong></td><td>User vaults now cost 100 USDC</td><td>✅ <a href="https://x.com/stevenyuntcap/status/1883546284000469382">Jan 27, 2025</a></td></tr></tbody></table>
* HIPs

  <table><thead><tr><th width="205.33331298828125">Name</th><th width="357.66668701171875">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>HIP-1 &#x26; HIP-2 Testnet</strong></td><td>Native spot trading</td><td>✅ <a href="https://x.com/HyperliquidX/status/1773531180815507473">Mar 29, 2024</a></td></tr><tr><td><strong>HIP-1 &#x26; HIP-2 Mainnet</strong></td><td>Permissionless spot deploys live on mainnet</td><td>✅ <a href="https://x.com/HyperliquidX/status/1793967681986806153">May 24, 2024</a></td></tr><tr><td><strong>HIP-3 Testnet</strong></td><td>Permissionless perps orderbook deployment</td><td>✅ <a href="https://x.com/stevenyuntcap/status/1917918390699938254">May 1, 2025</a></td></tr><tr><td><strong>HIP-3 Mainnet</strong></td><td>Complete decentralization of perp listing</td><td>🔄 Planned</td></tr></tbody></table>

### **HyperEVM**

<table><thead><tr><th width="219.66668701171875">Name</th><th width="370">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Testnet Announcement</strong></td><td>Native EVM with atomic composability announced</td><td>✅ <a href="https://x.com/HyperliquidX/status/1792393508101439800">May 20, 2024</a></td></tr><tr><td><strong>Dual-Block architecture</strong></td><td>Small blocks and large blocks</td><td>✅ <a href="https://discord.com/channels/1029781241702129716/1208476333089497189/1334521323082223678">Jan 30, 2025</a></td></tr><tr><td><strong>Mainnet Launch</strong></td><td>General-purpose programmability enabled</td><td>✅ <a href="https://x.com/HyperFND/status/1891730068151599464">Feb 18, 2025</a></td></tr><tr><td><strong>HyperCore &#x3C;-> HyperEVM</strong></td><td>HIP-1 assets feature atomic transfer with ERC-20 contracts</td><td>✅ <a href="https://x.com/HyperliquidX/status/1904441605005979876">Mar 25, 2025</a></td></tr><tr><td><strong>Read Precompiles</strong></td><td>Builders can read HyperCore state atomically from smart contracts</td><td>✅ <a href="https://x.com/HyperliquidX/status/1916779597531693355">Apr 28, 2025</a></td></tr><tr><td><strong>CoreWriter</strong></td><td>Enabling new forms of DeFi</td><td>✅ <a href="https://x.com/stevenyuntcap/status/1941359347181003004">Jul 5, 2025</a></td></tr></tbody></table>

### **Ecosystem**

* Milestones

  <table><thead><tr><th width="204.66668701171875">Name</th><th width="358.33331298828125">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Volume milestone</strong></td><td>60+ perps to trade</td><td>✅ <a href="https://x.com/HyperliquidX/status/1714347413085778114">Oct 18, 2023</a></td></tr><tr><td></td><td>$1B in 24-hour-trading volume achieved</td><td>✅ <a href="https://x.com/HyperliquidX/status/1734596197766095215">Dec 12, 2023</a></td></tr><tr><td></td><td>Wrapping up 2023</td><td>✅ <a href="https://x.com/HyperliquidX/status/1741665759418618026">Jan 1, 2023</a></td></tr><tr><td></td><td>$100M USDC TVL</td><td>✅ <a href="https://x.com/HyperliquidX/status/1748129960185966951">Jan 19, 2024</a></td></tr><tr><td></td><td>$3B in 24-hour-trading volume achieved</td><td>✅ <a href="https://x.com/HyperliquidX/status/1764492137037746245">Mar 4, 2024</a></td></tr><tr><td></td><td>$4.3B in 24-hour-trading volume achieved</td><td>✅ <a href="https://x.com/HyperliquidX/status/1820744452677455971">Aug 6, 2024</a></td></tr><tr><td></td><td>$15B in 24-hour trading volume achieved</td><td>✅ <a href="https://x.com/HyperliquidX/status/1870413637392941131">Dec 21, 2024</a></td></tr><tr><td></td><td>$8.9B OI, $5.4M 24h fees, $3.2B USDC TVL</td><td>✅ <a href="https://x.com/HyperliquidX/status/1925417760710152675">May 22, 2025</a></td></tr><tr><td></td><td>$5B USDC TVL</td><td>✅ <a href="https://x.com/HyperliquidNews/status/1947232382739759535">Jul 21, 2025</a></td></tr><tr><td><strong>Market Share</strong></td><td>Reached 20% of Bybit futures and 8% of Binance futures volume</td><td>✅ <a href="https://x.com/chameleon_jeff/status/1879086717900386782">Jan 1, 2025</a></td></tr><tr><td><strong>TradFi Recognition</strong></td><td>Bloomberg Surveillance Podcast coverage</td><td>✅ <a href="https://x.com/HyperliquidX/status/1922910069869408264">May 15, 2025</a></td></tr><tr><td><strong>Tier 1 CEX Listings</strong></td><td>Bybit major exchange listings for broader accessibility</td><td>✅ <a href="https://x.com/hypurr_co/status/1943502914712146270">Jul 11, 2025</a></td></tr><tr><td><strong>Institutional Custody</strong></td><td>Qualified custodians integration (Coinbase Custody, Anchorage, BitGo, Fireblocks)</td><td>🔄 Planned</td></tr></tbody></table>
* For Hyperliquid

  <table><thead><tr><th width="205.3333740234375">Name</th><th width="358.3333740234375">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Unit Integration</strong></td><td>Brings spot tokens from other chains to Hyperliquid</td><td>✅ <a href="https://x.com/hyperunit/status/1890437173738107107">Feb 15, 2025</a></td></tr><tr><td><strong>WHYPE on Ethereum</strong></td><td>By HyperBeat</td><td>✅ <a href="https://x.com/hypurr_co/status/1950562355198489013">Jul 30, 2025</a></td></tr><tr><td><strong>TradFi Integration</strong></td><td>Traditional finance integration initiatives</td><td>🔄 Planned</td></tr></tbody></table>
* On Hyperliquid
  * HyperCore

    <table><thead><tr><th width="204.66668701171875">Name</th><th width="327">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>$PURR spot trading</strong></td><td>First native spot trading</td><td>✅ <a href="https://x.com/HyperliquidX/status/1780079468918587507">Apr 16, 2024</a></td></tr><tr><td><strong>DEX Screener Integration</strong></td><td>Trading interface integration</td><td>✅ <a href="https://x.com/HyperliquidX/status/1788410203433508951">May 9, 2024</a></td></tr><tr><td><strong>Insilico Terminal Integration</strong></td><td>Trade on Hyperliquid using Insilico</td><td>✅ <a href="https://x.com/HyperliquidX/status/1821558804552818721">Aug 8, 2024</a></td></tr><tr><td><strong>Wallets Integration</strong></td><td>Phantom Perps Integration</td><td>✅ <a href="https://x.com/hyperunit/status/1942641335212900836">Jul 8, 2025</a></td></tr><tr><td><strong>Frontend Decentralization</strong></td><td>Expand builder codes to incentivize tools like @pvp_dot_trade</td><td>🔄 Planned</td></tr><tr><td><strong>CEX Integration</strong></td><td>Builder codes integrated on CEXes</td><td>🔄 Planned</td></tr><tr><td><strong>Billion-Dollar Apps</strong></td><td>Support multiple billion-dollar protocols by 2025</td><td>🔄 Planned</td></tr><tr><td><strong>DeFi Dominance</strong></td><td>Capture >50% of new DeFi project volume natively</td><td>🔄 Planned</td></tr></tbody></table>
  * HyperEVM

    <table><thead><tr><th width="204.66668701171875">Name</th><th width="327">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Infrastructure Vision</strong></td><td>Position as "AWS of crypto" for scalable liquidity infrastructure</td><td>✅ Ongoing</td></tr><tr><td><strong>Rabby Wallet</strong></td><td>Integrate HyperEVM</td><td>✅ <a href="https://x.com/Rabby_io/status/1924815018803028093">May 20, 2025</a></td></tr><tr><td><strong>DeBank</strong></td><td>Integrate HyperEVM</td><td>✅ <a href="https://x.com/DeBankDeFi/status/1924796663409082717">May 20, 2025</a></td></tr><tr><td><strong>Etherscan Integration</strong></td><td>A block explorer for HyperEVM</td><td>✅ <a href="https://x.com/hypurr_co/status/1942189823084884441">Jul </a><a href="https://x.com/hypurr_co/status/1942189823084884441">7</a><a href="https://x.com/hypurr_co/status/1942189823084884441">, 2025</a></td></tr><tr><td><strong>Pendle Live</strong></td><td>Bringing Pendle's fixed yield infrastructure to life</td><td>✅ <a href="https://x.com/pendle_fi/status/1950526842634703177">Jul 30, 2025</a></td></tr><tr><td><strong>USDC Support</strong></td><td>Native USDC and CCTP v2</td><td>✅ <a href="https://x.com/hypurr_co/status/1950890830216278191">Jul 31, 2025</a></td></tr><tr><td><strong>Mass Adoption</strong></td><td>Support millions of users engaging with Hyperliquid-powered products</td><td>🔄 Planned</td></tr></tbody></table>
* Community<br>

  <table><thead><tr><th width="205.33331298828125">Name</th><th width="357.6666259765625">Description</th><th>Status</th></tr></thead><tbody><tr><td><strong>Community Growth</strong></td><td>Passionate, user-owned community with no private investors</td><td>✅ Ongoing</td></tr><tr><td><strong>Zero Private Investors</strong></td><td>Entirely self-funded development with community-first approach</td><td>✅ Ongoing</td></tr><tr><td><strong>Community Revenue</strong></td><td>Millions in revenue redistributed to community through HLP and AF</td><td>✅ Ongoing</td></tr><tr><td><strong>Token 2049 event</strong></td><td>Meet the Core Contributor</td><td>✅ <a href="https://x.com/HyperliquidX/status/1694504427103670615">Aug 24, 2023</a></td></tr><tr><td><strong>Hyperliquid event</strong></td><td>Community event in Singapore</td><td>✅ <a href="https://x.com/HyperliquidX/status/1836351486051356689">Sep 17, 2024</a></td></tr><tr><td><strong>HypurrCo Singapore</strong></td><td>turnout of over 100+ people and 15 projects</td><td>✅ <a href="https://x.com/hypurr_co/status/1889689557752504635">Feb 12, 2025</a></td></tr><tr><td><strong>HypurrCo Hong Kong</strong></td><td>turnout of over 100+ people</td><td>✅ <a href="https://x.com/hypurr_co/status/1892896924770193431">Feb 21, 2025</a></td></tr><tr><td><strong>HypurrCo Pickle Ball</strong></td><td>Smash &#x26; Savour in KL - With <a href="https://x.com/nolimithodl">@nolimithodl</a> and <a href="https://x.com/deBridgeFinance">@deBridgeFinance</a></td><td>✅ <a href="https://x.com/hypurr_co/status/1935632112780255731">Jun 19, 2025</a></td></tr><tr><td><strong>HypurrCo New York</strong></td><td>Permissionless NYC - With <a href="https://x.com/hyperunit">@hyperunit</a> and <a href="https://x.com/Theo_Network">@Theo_Network</a></td><td>✅ <a href="https://x.com/hypurr_co/status/1932811768679838030">June 23, 2025</a></td></tr><tr><td><strong>HypurrCo Cannes</strong></td><td>With <a href="https://x.com/zellic_io">@zellic_io</a> <a href="https://x.com/Theo_Network">@Theo_Network</a><a href="https://x.com/hyperdrivedefi">@hyperdrivedefi</a> <a href="https://x.com/IMCTrading">@IMCTrading</a> <a href="https://x.com/felixprotocol">@felixprotocol</a><a href="https://x.com/nolimithodl">@nolimithodl</a></td><td>✅ <a href="https://x.com/NarwhalTan/status/1941145190770888984">Jul 4, 2025</a></td></tr><tr><td><strong>Hyperliquid Hackathon</strong> </td><td>Virtual | 4 weeks | $250K+ in prizes | Community organized | 45+ HL aligned sponsors</td><td>✅ <a href="https://x.com/hl_hackathon/status/1944803023152452055">Jul 28, 2025</a></td></tr><tr><td><strong>HL Hackathon Seoul</strong></td><td>First-ever in-person Hyperliquid Hackathon</td><td>✅ <a href="https://x.com/hlh_build/status/1952671705467650497">Sep 21, 2025</a></td></tr></tbody></table>

### **Why This Matters**

Hyperliquid's foundation is set: **no fees to middlemen**, **community ownership**, and **millions in revenue flowing back to users**. The focus for 2025 is clear, complete decentralization, expand the HyperEVM ecosystem, and establish Hyperliquid as the go-to liquidity infrastructure for builders aiming to onboard trillions in value as finance moves onchain.

*Stay tuned for updates and enjoy exploring the Hyperliquid ecosystem!*


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