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

Once you deposit USDHL on HyperEVM, it is bridged and converted to USDC (at or above $1.00), then automatically deposited into the HLP vault within 24 hours. In return, you receive wHLP tokens representing your share of the vault and its performance.

When redeeming wHLP, withdrawals follow a structured process to ensure liquidity and accurate asset delivery:

Step 1: Connect to the Terminal with your HyperEVM wallet.

Step 2: Users request wHLP redemption at any time.

Step 3: Up to 20% of the total vault NAV can be withdrawn daily to fulfill redemption requests.

Step 4: The Manager converts USDC into the stablecoin requested by the user.

Step 5: Converted assets are bridged back to HyperEVM and distributed directly to users.

No, you can unstake at any time. However, when in high demand, the withdrawal can take up to 5 days processing time when requests exceed 20% of vault deposits.

wHLP supports EVM-compatible wallets, including Metamask, Rabby, OKX Wallet (all with Ledger support), Coinbase & OneKey (both with OneKey HW).

wHLP captures and tokenizes HLP yield for DeFi composability and liquidity.

HLP is a community-owned vault on Hyperliquid that passively earns yield through:

• Market Making: Earns the spread by quoting buy/sell orders around a fair price.
• Liquidations: Profits from penalties by backstopping liquidated positions.
• Trading Fees: Collects a portion of trading fees from traders.

Yes, wHLP holders earn LOOP points by default, which makes them eligible for 3 different airdrops.

• Early Adopter Program
• Loyalty Rewards (Airdrops from Buy-backs) - must also hold min 5000 stLOOP