New Fee Reduction System and Account Linking Feature Announced by Hyperliiquid, Effective from May 5th
A brand-new fee system is about to hit Hyperliquid, baby! 🤯💸 Starting from May 5 at 03:00 UTC, the decentralized exchange is gonna shake things up with some juicy changes in their trading fee game. Here's the lowdown:
The Gist:
- Staking Tiers and Fees: Users can now stake their HYPE tokens—that's right, the platform's cute little utility token—to snag some tasty trading fee discounts (up to 40%) across six staking tiers. Here's how it shakes out:
- Wood: Stake 10 HYPE or more (score a 5% fee discount)
- Higher tiers (like Platinum and Diamond, because who doesn't love shiny stuff?) offer discounts as high as 40% if you stake 100k+ or 500k+ HYPE, respectively.
- Separate fee schedules for Perps and Spot: Hyperliquid is gonna roll out distinct fee rate tables for perpetual contracts and spot trading. But here's the kicker: spot trading volume will be doubled when calculating your fee tier, so get those spot trades crackin'!
- Link up those accounts, Boss: An exciting new feature is on the horizon: the ability to link staking and trading accounts on the testnet. This means you can use the discounts from one account and apply them to another—sweet, right? This bad boy is expected to go live shortly after the new fee system launches.
So, what's the catch?
Linking accounts is forever—you can't reverse the decision once two accounts are joined together. And here's a crucial bit: when you link your accounts, you'll lose out on any staking-related fee discounts.
- Fee Calculation Changes: Ready for this mind-bender? Perpetual and spot volumes will be added together for fee tier calculations, and the doubled spot volume will weigh more heavily. This could make it easier for users to reach higher fee tiers through spot trading.
Now, there's some buzz that Hyperliquid could be cooking up a negative trading fee program using seasonal points, but nothing's been officially confirmed yet. The current perpetual futures fee stands at 0.05% for takers, with potential rebates under existing incentives.
Before we wrapped up, let's take a quick flashback to last month: Hyperliquid gave the cold shoulder to JELLY perpetual contracts after taking a $10.63 million hit due to a wild token price surge. The team suspects market manipulation was the root cause of the crazy spike.
And in other news, fellow crypto biz leader Bybit's CEO raised some serious points about DEX guardrails in response to Hyperliquid's ETH liquidation.
Bet y’all can’t wait for these changes to hit, right? Get ready to stake those HYPE tokens, grab some popcorn and enjoy the ride! 🍿🚀
- From May 5 at 03:00 UTC, Hyperliquid will introduce a new fee system, offering trading fee discounts for users who stake their HYPE tokens.
- The trading fee discounts range from 5% to 40%, across six staking tiers, with higher tiers requiring more HYPE tokens for eligibility.
- Hyperliquid will have separate fee rate tables for perpetual contracts and spot trading, with spot trading volume being doubled when calculating fee tiers.
- An upcoming feature allows users to link staking and trading accounts on the testnet, enabling discounts from one account to be applied to another.
- However, linking accounts is irreversible, and users will lose out on any staking-related fee discounts once accounts are joined together.
- The new fee system will also see changes in fee calculation, with both perpetual and spot volumes being added together, and the spot volume being given more weight in determining fee tiers. It's also speculated that Hyperliquid may introduce a negative trading fee program using seasonal points, but this remains unconfirmed.
