Hyperion DeFi Signs 500,000-HYPE Bond Deal With Skew
Summary
- Hyperion DeFi said it signed a HAUS agreement with Skew Technologies using 500,000 staked Hyperliquid tokens.
- Skew plans to launch perpetual futures products for institutional investors on Hyperliquid's HIP-3 permissionless market.
- Hyperion said it will receive an equity stake in Skew and a portion of market operating revenue in return.
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Hyperion DeFi (HYPD), a Nasdaq-listed digital-asset treasury firm focused on Hyperliquid, has partnered with Skew Technologies to help launch a new institutional market on the Hyperliquid platform.
The Block reported on July 15 that Hyperion signed a so-called HAUS, or HYPE Asset Utilization Service, agreement with Skew and will deploy 500,000 staked HYPE to the company. The allocation is worth about $33.59 million.
Under the agreement, Skew plans to launch perpetual futures products for institutional investors on Hyperliquid's HIP-3 permissionless market. Introduced in October last year, HIP-3 is Hyperliquid's permissionless market protocol that lets anyone open a customized perpetual futures market by depositing 500,000 HYPE in bond form. In exchange, Hyperion will receive an equity stake in Skew and a portion of the market's operating revenue.
Skew founder David Gill said the company is ready to bring a new type of market to Hyperliquid. He added that both proprietary markets and products developed with partners could meaningfully expand the range of assets tradable on-chain. Hyperion DeFi's support provides infrastructure for innovation and a foundation for long-term collaboration, Gill said.
Hyperion was launched last summer as a digital-asset treasury firm specializing in Hyperliquid and currently holds 2 million HYPE. It has previously signed similar HAUS agreements with several platforms, including Silhouette. In June, it terminated agreements with Felix and Native Markets, which had operated markets based on Hyperliquid's native stablecoin USDH. Earlier this year, Hyperliquid adopted Circle's USDC as its default settlement asset in place of USDH.
