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Introduction

HyperLend is a decentralized lending and borrowing protocol built on Hyperliquid's EVM blockchain (HyperEVM). The platform aims to become the primary money market on the Hyperliquid ecosystem by providing efficient, secure lending services through multiple pool types designed for different risk profiles and use cases. Launched on mainnet in March 2025, HyperLend combines proven lending mechanisms from established protocols like Aave and FraxLend with innovative features tailored specifically for the Hyperliquid ecosystem. The protocol offers three distinct lending markets: Core Pools for multi-asset lending, Isolated Pools for risk-segmented lending, and P2P Pools for personalized loan arrangements. HyperLend leverages Hyperliquid's high-performance infrastructure to deliver capital-efficient lending solutions with deep liquidity and competitive interest rates.

Key Features:

  • Multi-pool architecture with Core, Isolated, and P2P lending markets

  • Integration with Hyperliquid's native liquidity and trading infrastructure

  • Advanced features like flash loans and tokenized vault positions

  • Unified Trading Account (UTA) for automated portfolio management

Innovation

HyperLend introduces several innovative features that differentiate it from traditional DeFi lending platforms. The protocol's integration with Hyperliquid's native infrastructure enables unique capabilities such as tokenized HLP vault positions that can be used as collateral, allowing users to earn yield while maintaining borrowing power. The Unified Trading Account represents a significant advancement in user experience, automating complex borrowing processes for trading activities with a single wallet signature. HyperLend's three-pool architecture provides unprecedented flexibility, allowing users to choose their preferred risk-reward profile from shared-risk core pools to completely isolated markets.

Key Innovations:

  • Tokenized HLP Vaults: Convert Hyperliquid liquidity provider positions into ERC-20 tokens usable as collateral

  • Unified Trading Account: Automated borrowing and trading execution system for seamless portfolio management

  • Multi-Pool Risk Segmentation: Core pools for capital efficiency, isolated pools for risk management, P2P for customization

  • Liquid Perpetual Positions: Planned feature to tokenize perpetual futures positions as lending collateral

  • Flash Loan Integration: Enables arbitrage and liquidation strategies within the Hyperliquid ecosystem

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Architecture

HyperLend operates through a sophisticated three-tier lending architecture built on the Hyperliquid EVM. Core Pools, based on Aave V3.0.2, allow users to supply and borrow multiple tokens within shared liquidity pools for maximum capital efficiency. Isolated Pools, forked from FraxLend V3, create two-token markets that isolate risk to specific asset pairs with customizable loan-to-value ratios. P2P Pools enable completely personalized lending agreements between users with custom terms, collateral requirements, and repayment schedules. The protocol integrates deeply with Hyperliquid's infrastructure through precompiled contracts that enable smart contracts to read and write data to HyperCore, creating seamless interoperability between lending activities and trading operations.

System Architecture:

  • Core Pools: Multi-asset shared liquidity pools based on battle-tested Aave architecture

  • Isolated Pools: Two-token risk-segregated markets with flexible parameters

  • P2P Pools: Personalized loan marketplace with custom terms and conditions

  • HyperEVM Integration: Direct access to Hyperliquid's order book liquidity and oracle data

  • Cross-Chain Infrastructure: Planned integration with other networks through strategic partnerships

Code Quality

HyperLend demonstrates excellent code quality standards through comprehensive auditing and transparent development practices. The protocol is fully open-source and has undergone extensive security reviews by multiple reputable firms including Ackee Blockchain Security, Cantina, and Pashov, with a total audit investment exceeding 46 engineering days. The codebase leverages proven implementations from Aave V3.0.2 and FraxLend V3, reducing development risk while adding Hyperliquid-specific enhancements. Code commenting is rated as outstanding in the project scorecard, with good test coverage and maintainability indexes supporting long-term protocol sustainability.

Quality Indicators:

  • Open-source development with full code transparency

  • Multiple independent security audits from tier-1 firms

  • Outstanding code documentation and commenting practices

  • Good test coverage across all protocol components

  • Based on battle-tested code from established DeFi protocols

Product Roadmap

HyperLend successfully launched on mainnet in March 2025 and has achieved significant milestones including integration with the Aave ecosystem as a "friendly fork" and deployment of core functionality. The protocol continues expanding its feature set with planned implementations of liquid perpetual positions, enhanced cross-chain capabilities, and advanced vault strategies. Current development focuses on optimizing user experience through the Unified Trading Account system and expanding partnership integrations with oracles, cross-chain protocols, and yield optimization services. The roadmap emphasizes sustainable growth through deep integration with the expanding Hyperliquid ecosystem.

Development Milestones:

  • Mainnet launch completed in March 2025 with immediate user adoption

  • Aave DAO recognition as friendly fork established

  • Multiple security audits completed with ongoing monitoring

  • Advanced features like liquid perpetual positions in development

  • Cross-chain expansion planned through strategic partnerships

Usability

HyperLend prioritizes user accessibility through intuitive interfaces and comprehensive documentation. The platform offers a straightforward dashboard that clearly displays health factors, net worth, and position summaries, making it easy for users to manage their lending and borrowing activities. The three-pool system allows users to choose their preferred risk level without complexity, while the Unified Trading Account automates complex operations for advanced users. Integration with Hyperliquid's infrastructure provides familiar experiences for existing ecosystem users, and the HyperTrack Telegram bot offers real-time monitoring and alerts for position management.

User-Friendly Features:

  • Clean, intuitive dashboard with comprehensive position overview

  • Multiple pool options catering to different risk preferences and experience levels

  • Automated trading and borrowing through Unified Trading Account

  • Real-time monitoring and alerts via Telegram bot integration

  • Extensive documentation and community support resources

Team

HyperLend is developed by a focused team led by experienced DeFi professionals including 0xNessus and fbsloXBT. While the core development team consists of fewer than three active contributors, they demonstrate senior-level expertise and maintain solid coding standards. The project benefits from strategic partnerships with established organizations including Block Analitica for risk management, multiple audit firms for security, and integration partners like Resolv Labs, Swell, and ThunderHead. The team's recognition by the Aave DAO and successful mainnet launch demonstrate their capability to execute on complex DeFi infrastructure projects.

Conclusion

HyperLend represents a sophisticated evolution of DeFi lending protocols, successfully combining proven architectures from established platforms with innovative features tailored for the Hyperliquid ecosystem. The protocol's three-pool approach provides flexibility while managing risk, and its deep integration with Hyperliquid's infrastructure creates unique opportunities for capital efficiency. The successful mainnet launch, comprehensive security auditing, and recognition from the Aave ecosystem demonstrate the project's technical competence and strategic positioning. While the small development team presents some scalability challenges, the quality of execution and strategic partnerships provide a strong foundation for growth within the rapidly expanding Hyperliquid ecosystem.

Hyperlend Scorecard

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