entities/internet-finance/hyperliquid.md

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+# Hyperliquid
+
+**Type:** Protocol  
+**Status:** Active  
+**Domain:** internet-finance
+
+## Overview
+
+Hyperliquid is a community-owned DeFi derivatives protocol with zero VC allocation. All HYPE tokens were distributed to users, creating ownership alignment from inception.
+
+## Key Metrics (February 2026)
+
+- 7-day trading volume: $40.7B
+- 24-hour open interest: $9.57B
+- Oil-linked perpetual futures: $991M 24-hour volume
+
+## Ownership Structure
+
+Community-owned protocol with HYPE token distributed entirely to users. Zero VC allocation distinguishes it from competitors like dYdX and GMX.
+
+## Timeline
+
+- **2026-02-04** — Ripple Prime integration enables institutional access to Hyperliquid derivatives with cross-margining across digital assets, FX, fixed income, OTC swaps, and cleared derivatives
+- **2026-02-18** — Launched Hyperliquid Policy Center in Washington D.C. with $29M HYPE token backing for regulatory lobbying