HyperLend

Introducing Aviya - Institutional Credit on Hyperliquid. Aviya is a private, compliance gated credit venue built on Hyperliquid, designed to extend structured credit access to institutional participants. The platform facilitates bilateral, fixed-rate financing, initially against HYPE collateral, with a roadmap to expand into additional asset classes over time. As capital allocators increasingly engage with on-chain markets, access to predictable, structured credit becomes a requirement. Aviya is designed to meet this demand by offering a more controlled alternative to fully permissionless lending systems, while still leveraging the efficiency and settlement advantages of Hyperliquid’s infrastructure. We view Aviya as a core component in the development of HyperLend as the credit layer of the Hyperliquid ecosystem, enabling capital formation, leverage, and structured financing across both native and future tokenized assets such as equities, commodities, fixed-income instruments and even the likes tokenised pre-IPO companies. Over time, Aviya will serve as a gateway for institutional credit into emerging on-chain markets, including real-world and tokenized financial assets. We are also pleased to deepen our collaboration with @HyperionDeFi, working together on institutional business development and capital formation. Aviya represents a continued step toward integrating credit natively into the broader Hyperliquid financial system. gLend.

As part of our pursuit of continually refining and upgrading protocol security measures HyperLend is today introducing our newly created Veto Council. The Veto Council is a protective board made up of close partners, investors and key Hyperliquid community members. The Council functions as a backstop, with the ability to cancel queued protocol multisig transactions if any of the Core Team became compromised. We continue to strive to exceed industry security standards. gLend.

It's been 3 months since we launched the Stake & Save program, so its time for our first ever HPL Staking quarterly review. Over the first 3 months of the Stake & Save program borrowers have been paid out over $40,000 in borrow rebates, which equates to approximately 18% of protocol revenue over this time. Annualised, this averages out to approximately 11.6% APR across all HPL staked on HyperLend. Our most successful Saver is earning ~4480% APR on their staked HPL, having purchased their staked tokens early in the program and kept up a significant borrow position almost in perpetuity over the quarter. HPL is designed to accrue value through and for borrowers on HyperLend. As borrow demand grows on HyperLend, HPL is designed to grow with it, a feature we’ve already seen in practice on days where rates have spiked due to market activity. We’re very happy with the way the market has adopted HPL staking on Core Markets and we’re excited to roll out further borrowing opportunities that benefit from the mechanic over the rest of the year. gLend and happy saving.

With final markets settling across the Hyperliquid ecosystem we would like to remind our users of the pending shutdown of USDH. HyperLend recommends that users repay any outstanding USDH debt and convert any supplied USDH to USDC. See QT for methods to convert USDH.

HyperLend is quietly becoming one of the more attractive USDC lending markets in DeFi: - Latest @hyperlendx market weighted supply APY: ~7% - Industry average: ~3% Capital flows to yield, and HyperLend is now leading the pack. hyperliquid.

With HYPE dipping over the past week there's one main question on everyone's lips... How can I stack more HYPE for the least amount of money possible? Recently listed as collateral on HyperLend, I think PT-kHYPE is a really interesting option for the adventurous DeFi user. As people who have been following me for a while will know I've had a longstanding love affair with @PendleIntern and moving over into the HYPE ecosystem hasn't stolen that love from me. As a quick refresher, Pendle splits their tokens users tokens in two, creating a PT (a principal token) and a YT (a Yield Token). PT are always redeemable for one of the underlying token at the end of the market, meaning they cost less than the underlying and trend upward in value over the course of the market, while YT's earn all of the yield and points that the underlying token would've earned over the course of the market. We're here to max HYPE exposure, so we'll focus on PT's this time out rather than going deep into my favourite DeFi primitive. PT's sound scary, but in reality they're real simple. Okay, this one is a touch more complicated than the standard. The market defaults to kHYPE as the input and output token, but its priced in HYPE terms. This means that one PT kHPYE (HYPE) will at the end of the market return one HYPE worth of kHYPE. I'm trading away my access to ongoing yield for a guaranteed yield return after a period of time (106 days in the case of this market). This means that the value of your PT will always be increasing slowly over time, in this example starting at 0.9912 HYPE worth of kHYPE and increasing to parity at the market's close. PT's are effectively democratised access to fixed rate yield. When you introduce lending ontop of PT's things can get real interesting real fast. This is partially because you're locking in a fixed rate on the underlying, but they also bring a nuanced dynamic in that your underlying is always inherently increasing in value over time, getting back towards parity. With it's listing on HyperLend borrowers can now loop up against their kHYPE, using HYPE borrows to go and purchase even more HYPE. For the sake of the exercise lets imagine that you made better financial choices than me and you have 1000 HYPE sitting in your wallet. You could go and take that HYPE and use it to buy 1008.5 PT kHYPE (HYPE), netting you an additional 8.5 HYPE worth of kHYPE ontop of your stack when the market finishes in September. Then you take these 1008.5 PT kHPYE (HYPE) over to HyperLend and borrow HYPE against them at 50% LTV, borrowing another 500 HYPE at 0.94% APY. You then use these HYPE to buy another 504.334 PT-kHYPE and deposit these into HyperLend to have a nice juicy collateral ratio. After this one loop you'd find yourself with 1512.834 PT-kHYPE and 500 HYPE of debt. If you were to hold that loop until market close on 24 September (106 days) you would have accrued another 1.67 HYPE in interest, landing you at 501.67 HYPE in debt. You'd then have to spend 501.67 HYPE worth of your redeemed kHYPE to pay off your Debt, leaving you with 1011.164 HYPE worth of kHYPE after 106 days. What would otherwise be a nice lil 0.88% return becomes 1.116% return with one simple loop, annualising out at ~3.84% on your HYPE. Further loops add more additional yield, whilst of course raising your implicit risk as you take on more debt and increase your exposure to the green coin. This is a pretty low risk way to engage the loop, some absolute chads on HyperLend are stacking this up to 80% LTV multiple times over... If you want to stack more of a token Pendle is almost always a great tool, and adding in Kinetiq and HyperLend lets you juice the impact you can have on HyperEVM from just holding significantly. Happy Penddidling and gLend.

Users can supply PT-kHYPE and earn the intrinsic yield PT tokens supply. PT-kHYPE is not borrowable. Borrowing against volatile assets always carries risk, ensure that you exercise caution and actively manage risk when opening any positions. Link to Market: app.hyperlend.finance/markets/0x50fC…

NEW ASSET LISTING: Pendle PT-kHYPE 24 September 2026 by @pendle_fi & @Kinetiq_xyz Designed for those looking to lock in a fixed rate APY on their HYPE, PT-kHYPE presents significant yield opportunities for those looking to deploy with size. gLend.

16% APY for USDC on HyperLend.

The new HPL/USDC market can be found on Hyperliquid here: app.hyperliquid.xyz/trade/HPL/USDC

New HPL Market: HPL/USDC With USDH slowly winding down its deployment a new market has been deployed on Hyperliquid pairing HPL with USDC. The majority of HPL liquidity will be moved over to this market, making it the trading venue with the deepest liquidity for HPL at this time. The HPL/USDH market on Hyperliquid will remain available for the forseeable future, with a plan to sunset and transition full liquidity support to the USDC pair over time.

Sunsetting USDH on HyperLend In light of todays announcement that USDH will begin winding down operations on Hyperliquid we have made the decision to begin the process of sunsetting USDH borrowing and lending on HyperLend. Within 48 hours users will no longer be able to supply or borrow further USDH on HyperLend as we look to wind down and eventually close this market. We encourage our users to be proactive in repaying any USDH loans they hold. @nativemarkets have been a pleasure to work with and a positive force in the Hyperliquid ecosystem and we wish the team all the best moving forward. As in all things DeFi, Hyperliquid will win in the end. gLend.

"HyperLend exits Q1 2026 as the leading lending venue in the Hyperliquid ecosystem" Hyperliquid's Credit Layer continues to establish itself as a core piece of the house of all finance. Read the full report from @Blockworks below.

HyperLend just crossed $20 billion in total volume processed.

HyperLend has completed it's upgrade to Aave v3.6 as per our agreement with the Aave DAO. The v3.6 upgrade centres around e-mode, allowing the protocol to offer more optionality to its users in this mode in the future. This upgrade also includes multiple security hardening measures, making the protocol more resilient. HyperLend is committed to continual renewal and improvement of our protocol, working with Block Analitica (@BlockAnalitica) to ensure user safety is paramount. We conducted two audits, one with Pashov (@PashovAuditGrp) and one with an independent auditor, before scheduling the upgrade. We then instituted a 7-day timelock and review period, during which the code became eligible for our mainnet bug bounty program of $250k. HyperLiquid's Credit Layer remains stronger than ever. gLend

In light of recent events, we at HyperLend want to extend our sincere support to those affected, these are truly difficult times, and our DMs are always open if anyone wants to talk. HyperLend had no exposure and all flows have continued processing smoothly. If you have any concerns whatsoever, please don't hesitate to reach out, we're happy to walk you through everything. Enjoy the rest of your Sunday, HL fam.

2 Weeks of Stake and Save. 26% of Circulating Supply Staked. Users already saving $130,000+. gLend.

How I designed HyperLend 2.0 .. For the last 2 years my team & I have been tracking user behavior and gathering important information in order to optimize your experience using our app. Rather than just copying protocols that came before us we dove into the data, using our years of ux research to piece together an app that shows you all the information you want and need as a user. We focused on three key pillars, working to make the app faster, smoother and cleaner. With these pillars in mind we’ve made HyperLend easier than ever to integrate into your daily rotation. HyperLend now allows users to track their HyperCore balance live in our app, with data updated every second. We believe credit is part of every core piece of the house of finance, so you shouldn’t have to leave the credit layer to view the rest of the house. As always, please let me know if you have any feedback on our design, the optimising never finishes 🫡 gMeow

Introducing HyperLend 2.0