Yield-bearing vaults are a fundamental part of DeFi, allowing users to earn passive income on their assets. However, when it comes to Liquid Staking Tokens (LSTs), tracking yield accurately and securely is a challenge. Most LSTs, including Lido’s stETH, rely on an external Overseer model, introducing security risks, inefficiencies, and additional costs for users.

The HYPED Difference: Real-Time, On-Chain Exchange Rate

HYPED is a 0-fee LST for the HyperEVM, designed to eliminate these inefficiencies by leveraging a real-time exchange rate instead of relying on an Overseer.

🔹 How HYPED Works

HYPED calculates total assets, including staking rewards, completely on-chain and in real-time, thanks to Precompiles provided by the Hyperliquid team. This approach ensures that:

• No external trust is required – The protocol doesn’t rely on third parties to update its state.

• Users always receive the correct number of shares – The real-time exchange rate reflects the most up-to-date staking rewards.

• Security is maximized – Since there are no permissioned accounts updating the protocol, the risk of an exploit is eliminated.

• Instant response to slashing events – Unlike Overseer-based LSTs, which might be vulnerable to outdated accounting, HYPED automatically adjusts to any slashing events.

Why Choose HYPED?

✅ 0 Fees – No intermediaries taking a cut of your rewards.

✅ Secure by Design – No externally controlled permissioned accounts.

✅ Accurate Yield Tracking – Real-time updates ensure fair minting and redemption.

✅ Built for HyperEVM – Optimized to leverage Hyperliquid’s precompiles for maximum efficiency.

Just use Hyperdrive.