Hyperliquid is best known for its on-chain perps exchange, but did you also know there are vaults where users can deposit funds and follow specific trading strategies?
One of these vaults, currently enjoying a total value locked of more than $3 million, delivered 638% APY last month. Let’s examine.
What Are Hyperliquid Vaults?
Hyperliquid vaults are one of the more closely watched features on the decentralized derivatives exchange. They allow traders to participate in shared strategies.
Think about it this way – a vault works more like a pooled trading account. A vault leader runs a strategy, while other users can deposit funds into the vault and gain exposure to the results.
If the strategy makes money, depositors would share in the profits. If it loses money, they also share in the losses.
What makes vaults interesting is that, unlike a basic yield product that simply lends or rebalances assets, they are built directly into HyperCore. This means that vault strategies can tap into
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