HyENA Overview

Introducing HyENA

HyENA is the most capital-efficient perpetual DEX with USDe margin, built on Hyperliquid.

Earn Rewards on Your Positions

Trade perpetual contracts using USDe collateral/margin and earn rewards as you open and maintain positions.

Built by the Based Team, Powered by Ethena

HyENA is developed by the Based team, the largest Hyperliquid app by revenue.

Built on HIP-3: Builder-Deployed Perpetuals

HyENA leverages Hyperliquid’s HIP-3 Builder-Deployed Perpetuals framework. HIP-3 allows HyENA to independently deploy and manage perpetual markets, introduce new pairs faster, and experiment with custom configurations, all while maintaining performance, security, and transparency through Hyperliquid.

HyENA combines performance, innovation, and yield in one platform.