Hyperion DeFi, a Nasdaq-listed public treasury firm focused on Hyperliquid, has signed a binding agreement to deploy 500,000 staked HYPE tokens with Skew Technologies. Valued at approximately $33.59 million, the asset deployment will allow Skew to meet the bond requirement for launching institutional perpetual futures markets under Hyperliquid’s HIP-3 framework.
The arrangement is structured through a HYPE Asset Use Service (HAUS) agreement, giving Hyperion equity in Skew Technologies and a share of listing-service revenues. Hyperion currently holds about two million HYPE tokens in its digital asset treasury and designed its model to generate income from staking and asset deployment. Previous HAUS agreements were signed with platforms like RockawayX-backed Silhouette, while earlier deals with Felix and Native Markets were unwound after Hyperliquid deprecated USDH in favor of USDC as its main quote asset.
Skew will leverage the bonded HYPE to launch custom perpetual futures markets on Hyperliquid without direct market making. “Skew is positioned to bring a new class of markets to Hyperliquid,” said founder David Gil. The HIP-3 framework, introduced last October, enables developers to create permissionless derivatives contracts by posting a 500,000 HYPE bond. Recent HIP-3 deployments have already expanded beyond crypto-native assets, including synthetic markets tied to pre-IPO companies like ChangXin Memory Technologies.
The partnership deepens Hyperion’s role within the Hyperliquid ecosystem and coincides with growing institutional interest. Bitwise recently added HYPE to its 10 Crypto Index ETF (BITW), and integrations with Circle and Coinbase have made USDC the preferred stablecoin. Hyperliquid remains unavailable to U.S. users due to geographic restrictions, while traditional derivatives operators continue to press regulators over offshore perpetual futures competition.
