Hyperliquid, a decentralized exchange, has announced a new fee structure and staking system set to be implemented on May 5 at 03:00 UTC. The updated system introduces tiered staking benefits and separate fee schedules for perpetual contracts and spot trading, aimed at enhancing user experience and incentivizing the use of its native utility token, HYPE.

New Fee System and Staking Tiers

The new fee system will offer trading fee discounts ranging from 5% to 40%, depending on the amount of HYPE tokens staked. These discounts are categorized into six staking tiers:

  • Wood Tier: Requires staking a minimum of 10 HYPE for a 5% fee discount.
  • Platinum Tier: Offers up to 40% fee discounts for staking 100,000 HYPE or more.
  • Diamond Tier: Provides the maximum 40% discount for staking over 500,000 HYPE.

This tier-based system is designed to reward users who actively participate in the platform by staking HYPE tokens, making trading more cost-effective for high-volume traders.

Separate Fee Schedules for Perpetual and Spot Trading

Hyperliquid is also introducing distinct fee structures for perpetual contracts and spot trading. To determine a user’s overall fee tier, the platform will combine perpetual and spot trading volumes. Notably, spot trading volume will be counted as double its actual amount when calculating the fee tier, providing an added advantage to spot traders.

Account Linking for Staking Discounts

A new feature accompanying this update is the ability to link staking and trading accounts. This allows users to apply staking discounts from one account to another trading account. However, there are important conditions to note:

  • Once accounts are linked, the action is permanent and cannot be undone.
  • Linked staking accounts will have full access to the funds in the associated trading account.
  • The staking account will no longer receive staking-related fee discounts after being linked.

This feature is expected to roll out shortly after the new fee system and staking tiers go live.

Recent Developments at Hyperliquid

Last month, Hyperliquid delisted JELLY perpetual contracts following a significant loss of $10.63 million due to a sudden 230% spike in the token’s price. The platform attributed the incident to suspected market manipulation. This move underscores the platform’s commitment to safeguarding user assets and maintaining a secure trading environment.

As Hyperliquid continues to evolve, these updates aim to provide a more streamlined and user-friendly experience for both novice and experienced traders. The introduction of staking incentives and fee adjustments reflects the platform’s effort to remain competitive in the rapidly growing crypto trading space.

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