Hyperliquid has added a new twist to its already sprawling derivatives lineup: $USELESS perpetual contracts, launched with a leverage cap of just 3x. The token itself has no roadmap, no whitepaper and no stated purpose beyond its own self-aware name, yet it just became tradable with leverage on one of crypto’s biggest decentralized exchanges. The listing arrives as traders rotate through smaller altcoins looking for fresh momentum while bigger assets like Bitcoin trade in a comparatively quiet range.
Key takeaways
Hyperliquid listed $USELESS perpetual contracts with a 3x leverage cap, far below the 50x allowed on Bitcoin perpetuals on the same platform.
$USELESS represents a Solana-based token that debuted on May 10, 2025, featuring a total supply of 1 billion tokens entirely dedicated to liquidity provisions.
The token has been valued at approximately $0.30 across alternative trading venues, maintaining more than $100 million in combined open interest on exchanges incl
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