HYPERMAX
  • HYPERMAX
    • About HYPERMAX
    • Roadmap
  • SmartFund
    • Overview
    • xDOM Balanced
    • xDOM Max
    • xHLP
  • HyperBonds
    • Overview
    • HFY
    • BFY
  • xHYPE
  • Add-Ons
    • Overview
    • CLMM
    • Lending
      • Collaterals
      • Oracle
      • Liquidation
    • xUSD
  • Tokenomics
    • HMX
  • COMMUNITY AND SUPPORT
    • Community Channels
    • Terms of Service
Powered by GitBook
On this page
  • xHYPE: Liquid Staking Token for the Hyperliquid Ecosystem
  • How xHYPE Works
  • What xHYPE Enables
  • Risk Considerations

xHYPE

xHYPE: Liquid Staking Token for the Hyperliquid Ecosystem

xHYPE is the liquid staking representation of staked HYPE, built to unlock utility and capital efficiency for participants in the Hyperliquid ecosystem. It enables users to earn staking rewards while retaining full onchain liquidity, making it a critical DeFi building block across trading, lending, and collateral markets.

Just like stETH on Ethereum, xHYPE abstracts away the operational complexity of staking and creates a freely tradable asset that accrues staking yield over time. Unlike traditional staking, where funds are locked, xHYPE holders benefit from both staking rewards and composability across the Hyperliquid DeFi stack.

How xHYPE Works

xHYPE is issued 1:1 when users stake HYPE via HYPERMAX's staking contract. It represents a claim on the underlying staked HYPE plus accrued rewards, and is redeemable at any time through designated liquidity providers.

  • Staking Users deposit HYPE and receive xHYPE in return. Staked HYPE earns native staking rewards distributed by the protocol.

  • Rebasing Yield Staking rewards are reflected as an increasing balance of xHYPE or as an increase in redemption value (depending on mode of integration), mirroring how stETH or cbETH operate.

  • Liquidity xHYPE can be freely traded on HYPERMAX’s Concentrated Liquidity AMM (CLMM), enabling real-time entry/exit without waiting for unstaking periods.

  • Composable xHYPE is accepted across the HYPERMAX Lending Market, SmartFund infrastructure, and third-party DeFi protocols as collateral or yield-bearing asset.

What xHYPE Enables

  • Staking Without Lockup Earn HYPE staking rewards while maintaining onchain liquidity through xHYPE.

  • DeFi Utility Use xHYPE across HYPERMAX for:

    • Borrowing xUSD or other assets

    • Participating in SmartFunds or LPs

    • Deploying into structured products or yield strategies

  • Capital Efficiency Unlike locked staking, xHYPE allows for double utility: earning rewards and putting assets to work elsewhere in DeFi.

  • Fully Onchain & Transparent All xHYPE issuance, balances, and yield accruals are handled by smart contracts—verifiable and audit-friendly.

Risk Considerations

  • Smart Contract Risk xHYPE relies on staking and accounting contracts. Although audited, all DeFi systems carry inherent risk.

  • Price Divergence Risk xHYPE may trade at a slight discount or premium depending on market conditions, liquidity, and expected yield.

  • Validator Performance Yield depends on validator set performance and protocol governance decisions.

PreviousBFYNextOverview

Last updated 2 days ago