Hyperion Deploys $33.6M HYPE Bond to Skew for Hyperliquid Perps

Hyperion DeFi said Wednesday it will deploy 500,000 staked HYPE tokens, worth about $33.59 million, to Skew Technologies under a HYPE Asset Use Service (HAUS) agreement. The bond will let Skew use Hyperliquid’s HIP-3 permissionless framework to create and list perpetual futures markets.

HIP-3, launched last October, requires a 500,000 HYPE bond to open a custom perpetual market. Perpetual futures are contracts without an expiry date that allow traders to hold positions with periodic settlement.

Skew plans to develop institutional perpetual products on Hyperliquid, a Layer 1 blockchain built to host perpetual futures contracts. Skew will use the bond posted by Hyperion instead of assembling the 500,000 HYPE itself.

Under the agreement Hyperion will receive equity in Skew and a share of revenues from the market listing service. The arrangement lets Hyperion monetize part of its HYPE holdings while gaining an ownership stake and ongoing income tied to listings.

David Gil, Skew’s founder, said, “Skew is positioned to bring a new class of markets to Hyperliquid. We see a meaningful opportunity to expand what can be traded on-chain, both through markets launched ourselves and products developed with partners. Support from Hyperion DeFi provides us with the infrastructure and long-term alignment to innovate, supporting new market categories and expanding the product surface of Hyperliquid.”

Hyperion launched last summer as a digital asset treasury focused on staking and deploying HYPE tokens and holds about 2 million HYPE. The treasury has previously entered HAUS agreements with other platforms and has at times unwound staking arrangements, most recently in June with two teams that had planned markets denominated in Hyperliquid’s former USDH stablecoin.

Hyperliquid earlier adopted Circle’s USDC as its primary quote asset and named Coinbase as its stablecoin treasury provider. The announcement did not identify which assets or market types Skew will list first. Hyperliquid’s services are geo-restricted in the United States, and regulators, derivatives firms and exchange operators have engaged with U.S. authorities on on-chain perpetuals.