![trade[XYZ] logo](https://icons.llamao.fi/icons/rwa/tradexyz.png?w=48&h=48)
trade[XYZ]
On-chain AUM$0
Platform totals
Live assets89
Chains1
DeFi TVL$0
Confirmed attestations0 / 89
Primary accessCustodial Only (75)
Totals for filtered assets
0
$0
$0
$0
0
| Name | Asset Group |
|---|
About trade[XYZ]
trade[XYZ] is the first HIP-3 builder-deployed perpetual venue on Hyperliquid, launched October 13, 2025 by the Hyperunit team. It operates 24/7 cash-settled perpetual markets covering US equities, ETFs, equity indices (including the world's first officially S&P 500-licensed perpetual via sister deployment ABCD, March 2026), commodities, FX, and pre-IPO/private-company valuations. Markets appear under the xyz namespace and are margined and cash-settled in USDC, giving users synthetic price exposure rather than ownership of the underlying. Cumulative volume since launch has exceeded $100B with an annualized run rate above $600B, accounting for over 35% of all Hyperliquid trading volume.
Profile
- Primary chain
- Hyperliquid L1
- Parent platform
- trade[XYZ]
- Issuer
- Hyperunit (trade[XYZ])
Economics & revenue
Margin settlement assetsUSDC (Hyperliquid)
Revenue confidenceIssuer-Disclosed
Fees last verified2026-05-11
Attestations & milestones
- Attestation frequency
- N/A (Perp Venue)
- Last attestation
- N/A (Perp Venue)
Revenue methodology & documents
Revenue model: Maker/Taker Fees + Funding Skim
trade[XYZ] is the largest HIP-3 builder-deployer on Hyperliquid (operates ABCD, COIN, ALPHA, and other namespaces). Under HIP-3, user-facing fees are 2x the standard Hyperliquid validator-perp rate (~7-9 bps taker, ~2-3 bps maker on standard mode; Growth Mode reduces all-in fees by 90%+, to ~0.45-0.9 bps taker). The 50% deployer revenue share goes to trade[XYZ]; the remaining 50% goes to the Hyperliquid protocol. Specific per-market rates vary by Growth Mode setting per asset. Source: https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-3-builder-deployed-perpetuals
Issuer registry, regulation & leadership
Issuer registry
Operated by the Hyperunit team (also behind Hyperliquid asset-tokenization layer Unit). Core team brings expertise from HRT, Jump Trading, Fortress Investment Group, and US cyber units; founder remains pseudonymous. Markets are deployed under the xyz namespace on Hyperliquid via HIP-3 builder-deployed perpetuals.