Wrapped HLP Liquid Staking

Wrapped HyperLiquidity Provider (wHLP), developed by Looping Collective, is a USD-denominated token that automatically deposits into HLP. Initially valued at 1.00 USD per WHLP, its value appreciates over time as HLP rewards accrue. wHLP is a tokenized representation of HyperLiquidity Provider (HLP), which enables holders to earn HLP’s yield while retaining full liquidity and DeFi composability on HyperEVM.

HLP (Hyperliquidity Provider) is a permissionless vault on Hyperliquid that enables users to passively earn from market-making and liquidation backstops across all trading pairs, without paying any depositor fees. Profits are distributed directly to liquidity providers, offering community ownership over revenue streams traditionally reserved for internal trading desks.

Step 1: Users deposit USDHL on HyperEVM through distributor frontends.

Step 2: Users receive wHLP tokens, representing their proportional share of the vault.

Step 3: The Manager bridges deposited funds and sets limit orders to convert to USDC at ≥$1.00.

Step 4: USDC is automatically deposited into HLP every 24 hours.

Standard Withdrawals: Immediate processing when sufficient HyperEVM liquidity exists

Daily Limit: Maximum 20% of total deposits processable within 24 hours

High Demand: Up to 4 days processing time when requests exceed 20% of vault deposits