Hyperliquid is accelerating its push to become a full-stack on-chain financial system, with new data from RootData revealing a tightly integrated network of 30 core Web3 partners spanning custody, trading, wallets, and infrastructure.
The ecosystem map positions Hyperliquid not just as another Layer 1, but as a purpose-built engine for running a high-performance, fully on-chain liquidity layer.
Hyperliquid’s 30 Web3 Business Partners: Building the Ecosystem for On-Chain Liquidity@HyperliquidX has built a network of partners spanning stablecoins, cross-chain infrastructure, wallets, DeFi protocols, institutional custody, and trading ecosystems, forming a complete… pic.twitter.com/Q36j8TsloT
— RootData | We’re Hiring (@RootDataCrypto) May 6, 2026
A modular network powering on-chain finance
At its foundation, Hyperliquid is deeply integrated with leading stablecoin issuers, including Circle and Tether, alongside Ethena’s synthetic dollar framework. This ensures that trading and settlement across its derivatives-focused ecosystem remain natively dollar-denominated, an essential feature for institutional-grade markets.
To maintain speed and interoperability, Hyperliquid connects with key infrastructure providers like Chainlink, Axelar, and deBridge. These integrations allow external capital, liquidity, and real-time data to flow seamlessly into the network while preserving its hallmark low-latency, sub-second execution.
On the front end, user accessibility is driven by wallet and interface providers such as Phantom, Rabby Wallet, and DeBank, helping both retail and institutional users tap into Hyperliquid’s growing DeFi stack.
Meanwhile, HYPE, the native token of Hyperliquid, saw a sharp decline in protocol revenue in April, falling by nearly 50% as activity across perpetual futures decentralized exchanges weakened.
Liquidity layer evolves beyond a single-app model
Beyond infrastructure, a wave of DeFi protocols is building directly on Hyperliquid, expanding its use cases beyond perpetual futures into structured yield, credit markets, and more. Projects like Felix, HypurrFi, and HyperBeat reflect a broader shift toward treating Hyperliquid as a base liquidity layer rather than a standalone trading venue.
RootData counts over 145 projects within the ecosystem, including bridges, trading tools, and liquidity providers. Institutional-grade custody firms such as Anchorage Digital, BitGo, and Fireblocks are also integrated, signalling growing alignment with traditional financial infrastructure.
Market participants, including Bybit and IMC Trading, are helping deepen liquidity and improve order execution across the platform.
By anchoring all trades, orders, and liquidations directly on-chain, Hyperliquid is attempting to replicate the efficiency of centralized exchanges without relying on internal ledgers. Instead, it offers a shared liquidity environment where partners plug into a unified state, effectively laying the groundwork for what could become a decentralized, CEX-style operating system.
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