Hyperliquid Lists PUMP-USD Hyperps, Offers 3x Leverage on Unlaunched Token

2025-07-10 05:02:30

Main Idea

Hyperliquid has listed PUMP-USD hyperps with 3x leverage, attracting significant pre-market trading volume, but warns of high risks due to low liquidity and volatility.

Key Points

1. Hyperliquid's PUMP-USD pre-market trading volume exceeded $21 million, with the token peaking at $0.015 before settling at $0.0055.

2. The exchange offers 3x leverage on PUMP-USD hyperps, which trade like perpetual contracts without relying on external price oracles.

3. Hyperliquid flagged PUMP-USD as high-risk due to low liquidity, high volatility, and potential extreme funding costs.

4. The platform dominates the DEX perpetual trading market, accounting for over 70% of volume and allocating 97% of protocol fees to buybacks of its native token, HYPE.

5. Hyperliquid ranks eighth among all blockchains by total value locked (TVL), with $3.5 billion in bridge TVL and 500,000 users.

Description

Decentralized exchange Hyperliquid has added a new derivative to its growing list of hyperps, announcing on Thursday the listing of PUMP-USD. The product, announced Thursday, allows users to long or short the unlaunched $PUMP token with up to 3x leverage, expanding speculative access to yet-to-launch assets. Unlike traditional futures, hyperps do not rely on external oracles for pricing. Instead, they use a moving average of their own mark price to calculate funding rates. This design, unique to...

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