Hyperliquid, the Layer-1 blockchain that built its reputation on perpetual contracts and blazing-fast order books, is adding options trading to its toolkit. The platform announced the upcoming launch of native options tied to Ethereum, a move that plants its flag squarely in one of crypto’s fastest-growing derivatives segments.
For a platform that has already attracted roughly $7.8 billion in perpetual contract open interest, the expansion into options feels less like a pivot and more like the next logical step.
What Hyperliquid is actually building
The new product will offer what the platform calls “Hyperliquid native and Ethereum native options.” In English: options contracts that live directly on Hyperliquid’s Layer-1 chain, with ETH as a key underlying asset.
The groundwork was laid months ago. In February 2026, Hyperliquid rolled out a product called “Outcomes” under its HIP-4 proposal. These are fully collateralized contracts designed to function like binary and limited-risk options, but without leverage or liquidation risk.
