Hyperliquid · interactive mechanism simulation

Traders route orders to HyperCore's onchain order book. Fees split to the Assistance Fund, which buys back & retires HYPE, and to HLP, the community market-maker vault. Try squeezing HLP with a thin-liquidity perp, JELLY-style.
Traders perp orders HyperCore CLOB onchain order book Protocol fees 0.03% taker fee HLP vault 0.0 ETH P&L Thin-liq perp open interest low Validator vote delist / force-settle Assistance Fund 0 HYPE bought
Orders simulated
0
Fees collected
0.0 ETH
HYPE bought back
0
HLP P&L
0.0 ETH
Parameters — edit me
2.5/s
0.03%
97%
25%
Controls

Illustrative simulation. Mirrors the researched Hyperliquid mechanism (onchain CLOB matching, ~97-99% of fees to the Assistance Fund's HYPE buybacks, HLP as community market-maker) but order sizes and timing are randomized for visualization — not live onchain data. "Trigger the failure mode" replays the March 2025 JELLY dynamic: a thin-liquidity perp gets squeezed against HLP until validators vote to delist and force-settle. Part of The Onchain Experiment Atlas.