Tokenized HyperLiquidity Provider (tHLP)

tHLP tokenises deposits into Hyperliquid’s HLP vault, providing a transferable ERC‑20 that grows in value as vault rewards accrue

Tokenized HLP automates the deposit workflow into Hyperliquid’s native vault by using Hyperliquids CoreWrite precompiles. It allows you to utilize your capital actively while earning HLP funding rate to maximize returns.

How tHLP Works

Each tHLP represents a share of the underlying HLP vault equity on Hyperliquid. As the vault generates trading profits, the USD value of every tHLP increases proportionally.

  • 1 tHLP starts at 1.00 USD; price appreciates as rewards accrue.
  • Deposits are bridged via LayerZero and locked for 4 days to match vault rules.
  • Shares are fully transferable across HyperEVM, enabling DeFi composability (lending, LP, collateral).

Key Facts

Snapshot of current vault configuration. Values can change subject to governance upgrade.

  • Target APY: ≈ 10 % (variable)
  • Performance fee: 10 % of vault gains, minted as dilutive shares.
  • Accepted assets: USDHL, USDT0, wHYPE, UBTC, UETH (auto‑swapped to USDC).
  • Manager: Nucleus | Front‑ends: HyperLend (deposit) · Staking Rewards (soon)
  • Token address (HyperEVM): 0x1359b05241cA5076c9F59605214f4F84114c0dE8
  • Bridging: native LayerZero OFT implementation