Relationship to Hyperliquid

A note on the relationship between XYZ and Hyperliquid.

All XYZ markets operate on Hyperliquid.

Hyperliquid is a highly performant blockchain network that offers permissionless access to perpetual trading markets. Trades, execution and settlement are all handled onchain and processed by Hyperliquid’s decentralized set of validators.

Hyperliquid Improvement Proposals are network upgrades that extend the network’s functionality. Hyperliquid Improvement Proposal 3, or HIP-3, lets independent builders deploy and operate their own perpetual markets on Hyperliquid. You can read more details about HIP-3 in Hyperliquid’s documentation here.

The XYZ protocol is a HIP-3 DEX that deploys XYZ markets. XYZ markets exist for a range of asset classes, including equities, indices, commodities and FX. The XYZ protocol defines market listings, oracle sources, leverage limits, and sets other parameters for XYZ markets.

trade[XYZ] is an interface providing access to XYZ markets and other Hyperliquid markets. It is not the exclusive means of accessing XYZ markets.