How Hyperliquid Becomes the Backend for ALL of Finance | Tushar Jain

Hyperliquid represents a shift toward a decentralized "Everything Exchange," leveraging portfolio margining to enable cross-asset collateralization across crypto, commodities, and event contracts. Unlike competitors relying on incentivized volume, Hyperliquid demonstrates organic traction through genuine liquidation data and cash flow. The platform’s growth strategy centers on HIP3 and builder codes, which decentralize market creation and user interface development, effectively turning potential competitors into collaborators. While the project currently operates offshore, a plausible path toward U.S. regulatory integration exists through the Clarity Act and the emergence of regulated, custodial front-ends. The HYPE token serves as the central value capture asset, with revenue streams directly tied to buy-and-burn mechanisms, aligning the interests of the core team, market deployers, and token holders in a unified, capital-efficient ecosystem.