Ask about HyperWave · freeTotal Value Locked$974,944
TVL by Chain
Hyperliquid L1$962,771
Base$8,317
Ethereum$3,456
Arbitrum$400.05
Key Metrics
Fees 30d$1,325
Fees 30d by chain
Hyperliquid L1$1,327
Fees 7d$613.57
Hyperliquid L1$613.57
Fees 24h$8.55
Hyperliquid L1$8.55
Cumulative Fees$2.63m
Hyperliquid L1$2.86m
Revenue 30d$130.72
Revenue 30d by chain
Hyperliquid L1$130.72
Revenue 7d$62.98
Hyperliquid L1$62.98
Revenue 24h$8.55
Hyperliquid L1$8.55
Cumulative Revenue$16,949
Hyperliquid L1$16,949
Holders Revenue 30d$0
Holders Revenue 30d by chain
Hyperliquid L1$0
Holders Revenue 7d$0
Hyperliquid L1$0
Holders Revenue 24h$0
Hyperliquid L1$0
Cumulative Holders Revenue$0
Hyperliquid L1$0
Market Cap$652,991
$HWAVE Price$0.0025
Fully Diluted Valuation$1.12m
$HWAVE Volume 24h$1,628
CEX Volume$0
DEX Volume$770.13(47.32% of total)
Protocol Information
Hyperwave is building the House of Payments—an onchain forex layer that reroutes global payments onto Hyperliquid. hwHLP is a tokenized form of the HLP vault, and hwHYPE is a vault that delivers the best risk-adjusted return for your HYPE.
Audits:
Methodology
TVL: TVL represents the sum of tokens deposited in the vault + HLP positions + HyperCore Spot positions.View code on GitHubFees: Yields generated from HLP and hwHYPE vaults.View code on GitHubRevenue: Yields collected by protocol as revenue, currently, no revenue.View code on GitHubHolders Revenue: View code on GitHubYields
Pools Tracked4
Average Supply APY0%
Competitors
HyperWave history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 8, 2025 to Oct 23, 2026.
All-time high TVL: $45.75m on Aug 27, 2025. All-time low TVL: $969,594 on Oct 19, 2026.
Daily TVL, Sep 24, 2026 to Oct 23, 2026
| Date | TVL |
|---|---|
| Sep 24, 2026 | $1.58m |
| Sep 25, 2026 | $1.55m |
| Sep 26, 2026 | $1.56m |
| Sep 27, 2026 | $1.56m |
| Sep 28, 2026 | $1.54m |
| Sep 29, 2026 | $1.51m |
| Sep 30, 2026 | $1.51m |
| Oct 1, 2026 | $1.55m |
| Oct 2, 2026 | $1.51m |
| Oct 3, 2026 | $1.51m |
| Oct 4, 2026 | $1.54m |
| Oct 5, 2026 | $1.54m |
| Oct 6, 2026 | $1.58m |
| Oct 7, 2026 | $1.43m |
| Oct 8, 2026 | $1.4m |
| Oct 9, 2026 | $1.34m |
| Oct 10, 2026 | $1.33m |
| Oct 11, 2026 | $1.04m |
| Oct 12, 2026 | $1.05m |
| Oct 13, 2026 | $1m |
| Oct 14, 2026 | $996,240 |
| Oct 15, 2026 | $993,210 |
| Oct 16, 2026 | $991,138 |
| Oct 17, 2026 | $991,171 |
| Oct 18, 2026 | $970,640 |
| Oct 19, 2026 | $969,594 |
| Oct 20, 2026 | $974,022 |
| Oct 21, 2026 | $1m |
| Oct 22, 2026 | $986,826 |
| Oct 23, 2026 | $982,590 |
TVL at each month end, Jul 2025 to Oct 2026
| Date | TVL |
|---|---|
| Jul 31, 2025 | $21.3m |
| Aug 31, 2025 | $44.92m |
| Sep 30, 2025 | $28.99m |
| Oct 31, 2025 | $24.94m |
| Nov 30, 2025 | $17m |
| Dec 31, 2025 | $9.45m |
| Jan 31, 2026 | $6.4m |
| Feb 28, 2026 | $4.73m |
| Mar 31, 2026 | $7.86m |
| Apr 30, 2026 | $3.87m |
| May 31, 2026 | $4.4m |
| Jun 30, 2026 | $3.4m |
| Jul 31, 2026 | $1.77m |
| Aug 31, 2026 | $2.07m |
| Sep 30, 2026 | $1.51m |
| Oct 23, 2026 (latest) | $982,590 |
Fees, revenue and holders revenue by UTC calendar month, Jun 2025 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Jun 2025 | $1,824 | $0 | - |
| Jul 2025 | $107,862 | $0 | - |
| Aug 2025 | $320,798 | $0 | $0 |
| Sep 2025 | $359,689 | $0 | $0 |
| Oct 2025 | $1.89m | $1,791 | $0 |
| Nov 2025 | -$142,877 | $6,626 | $0 |
| Dec 2025 | $18,702 | $1,975 | $0 |
| Jan 2026 | $6,346 | $605 | $0 |
| Feb 2026 | $20,709 | $1,710 | $0 |
| Mar 2026 | $13,213 | $1,175 | $0 |
| Apr 2026 | $9,010 | $753 | $0 |
| May 2026 | $4,966 | $402.34 | $0 |
| Jun 2026 | $8,012 | $682.38 | $0 |
| Jul 2026 | $5,133 | $443.34 | $0 |
| Aug 2026 | $4,294 | $460.37 | $0 |
| Sep 2026 | $3,043 | $186.97 | $0 |
| Oct 2026 (to date) | $1,323 | $138.31 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/hyperwave
Frequently asked questions
What is HyperWave's TVL?
As of Oct 23, 2026, HyperWave has $974,944 in total value locked. TVL has decreased 40% over the past 30 days.
What chains does HyperWave operate on?
HyperWave operates on 4 chains: Hyperliquid L1, Base, Ethereum, and Arbitrum. Hyperliquid L1 holds the largest share at 98.8%.
How much has HyperWave generated in fees and revenue?
Over the past 30 days, HyperWave generated $1,325 in fees. Of that, $130.72 was protocol revenue. Based on the trailing year, the annualized rate is -$25,119 in fees and $16,862 in revenue.
What is the HWAVE token price and valuation?
HWAVE is currently trading at $0.0025. Its circulating market capitalization is $652,958, ranking it #3,892. Its fully diluted valuation is $1.12m. Supply currently stands at 261.44m circulating, 446.91m total supply, 1b maximum supply.
How has HWAVE performed recently?
HWAVE is down 34.9% over the past 7 days and down 34.6% over the past 30 days. Its all-time high is $0.0049, reached on Oct 29, 2025. The token is currently 49.5% below that level.
How does HyperWave's TVL compare to similar protocols?
Among Yield protocols tracked by DefiLlama, HyperWave ranks #83 by TVL. The category holds $4.674b across 568 protocols, and HyperWave accounts for <0.1% of that total. Similar protocols include Pendle V2, Equilibria, Spectra V2, Harmonix Finance, Penpie, Toros, Royco V1, Napier, Spark Savings, and Stake DAO Yield.
How many yield pools does HyperWave have?
DefiLlama tracks 4 HyperWave yield pools with an average APY of 0%.