Hyperliquid Academy is a joint initiative of HL Eco, the data platform for the Hyperliquid ecosystem, and Hyperliquid Research Collective, the leading independent research group inside the Hyperliquid ecosystem.
We bring universities into the Hyperliquid ecosystem with free access to its data, gather every educational resource on the network in one place, and carry the academic research that follows to the builders, regulators and institutions advancing Hyperliquid.
The Financial System, Upgraded
Hyperliquid is a blockchain designed to upgrade the existing financial system.
Just as electronic trading dramatically improved markets in the 2000s, Hyperliquid offers an opportunity for a massive technical upgrade of the existing financial system through a transparent, open, and performant blockchain. In the same way that AWS provides the cloud infrastructure for developers to build on the internet, Hyperliquid provides the liquidity infrastructure for developers to build financial applications.
Hyperliquid is best known for perpetuals, a type of derivative contract without an expiration date. Perpetuals represent an evolution in how derivatives function. Today, Hyperliquid's liquidity rivals the largest centralized exchanges. Its network has expanded beyond trading, allowing anyone to build applications that inherit its advantages.
Transparency
All transactions are recorded on a public ledger, meaning anyone can view and verify them in real time.
Open access
Anyone can use and build applications without centralized gatekeepers.
Non-custodial
Users maintain control of their own assets.
Performance
Low latency and high throughput enable faster and cheaper transactions.
The Rules Are Catching Up
For years, onchain technology has outpaced the policy conversation around it. That gap is closing.
On Hyperliquid alone, perpetual contracts deployed by third-party builders have accumulated more than $500 billion in notional trading volume across more than 80 traditional commodity and equity markets.
Onchain financial infrastructure has matured and proven that it can operate at scale, and policymakers increasingly recognize both the significant opportunity and the high stakes. The question is no longer whether this technology will shape the future of finance, but how.
S&P Dow Jones Indices licensed the S&P 500 to trade[XYZ] to launch the first and only officially licensed perpetual derivative contract based on The 500, on Hyperliquid.
The Commission adopted its Policy Statement Concerning the Listing of Perpetual Contracts, setting out its views on how perpetual contracts may be listed on U.S.-regulated exchanges.
Hyperliquid Policy Center and trade[XYZ] filed a comment letter with the SEC on pre-IPO perpetual contracts, with the Cerebras contract as the case study.
Payward, the parent company of Kraken, is building permissioned Hyperliquid HIP-3 markets for U.S. clients.
The Commission's Market Participants Division issued a no-action position for the benefit of providers of passive software that facilitates trading with registered entities.
The Securities and Exchange Commission issued an order granting temporary, conditional exemptive relief to trade tokenized NMS stock onchain, and invited public comment.
Data, People, Questions and Distribution
Four commitments to every participating university.
Free access to Hyperliquid's data
Order flow, funding rates, oracle prices, liquidations and positions: the public record that university research on Hyperliquid is built on, with custom access through HL Eco for each project.
Direct lines into the ecosystem
Introductions to the builders, institutions and policymakers of the Hyperliquid ecosystem, whenever a research question calls for them.
Substantive research questions
Thesis topics developed together with regulators, faculty and Hyperliquid builders, and grounded in the open questions of a live market.
Distribution most academic work never gets
Research is carried to institutional investors, to regulators in Washington and to the Hyperliquid network, with the university credited in every case.
Working with Universities
Forms of collaboration open to every department, from a single lecture to a supervised thesis.
Lectures and seminars
Presentations to faculty and students on Hyperliquid, perpetual derivatives and onchain market structure, given by the Academy and by practitioners from the ecosystem.
Theses and supervision
Research questions developed with faculty, and support from the Academy and the ecosystem for bachelor's, master's and doctoral work.
Student placements
Placements with the Academy and its partners, working on live research questions with the data and the people behind the market.
Data and course material
Free access to Hyperliquid's data for coursework and research, and the Learn library as teaching material for courses on onchain markets.
University Research on Hyperliquid
Eighteen works, catalogued by institution.
Every Educational Source on Hyperliquid, in One Place
The documentation, the research, the interviews with institutions and the university work, indexed and searched together.
The Reading Room
The simplest way to reach any information on Hyperliquid: the documentation, the research, interviews with institutions and the academic literature, searched together in one place.
Documentation · Research · Videos · Academic research