Hyperion DeFi (HYPD), a Nasdaq-traded company that holds a large treasury of (HYPE) tokens, has partnered with Skew Technologies to support new, custom markets on Hyperliquid with an approximately $33.59 million asset deployment.
As part of the arrangement, announced Wednesday, Hyperion will deploy 500,000 staked HYPE to Skew through a so-called HYPE Asset Use Service (HAUS) agreement, which will seed "a new suite of institutional perpetual futures products on Hyperliquid’s HIP-3 permissionless markets."
In return, Hyperion will receive equity in Skew and a share of revenues from the market listing service.
The move comes amid continuing growth for Hyperliquid, the Layer 1 blockchain designed for perpetual futures. Perps, or futures contracts with no expiration date, have become an increasingly popular way to trade crypto as well as commodities and stocks.
Last October, Hyperliquid launched HIP-3, which allows anyone to launch custom perps futures markets on its platform by staking a 500,000 HYPE bond.
