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HYPE Hyperion DeFi is a Nasdaq-listed company that holds Hyperliquid (HYPE) tokens as its main treasury asset. The company announced on July 15 that it would deploy 500,000 pledged HYPE tokens worth approximately $33.59 million to Skew Technologies under a structured asset use agreement.
The transaction uses Hyperion's HYPE Asset Utilization Services (HAUS) framework. Under the terms, Skew received pledged tokens as bonds, allowing it to launch a customized perpetual futures market on Hyperliquid's HIP-3 agreement. Hyperion receives Skew's equity and a share of revenue generated from market listing services. 
Features of HIP-3
Hyperliquid launched HIP-3 in October 2025 as a permission-free system for launching the perpetual futures market on its Layer-1 blockchain. Any participant offering 500,000 HYPE bonds can create a custom market through the agreement. Perpetual futures are contracts with no expiration date and are one of the most active trading instruments in the cryptocurrency market.
Skew founder David Gil said the company plans to expand the range of tradable assets on the chain through products developed internally and products built with partners. The July 15 announcement did not specify which markets Skew planned to list first. Gil said Hyperion's support provides the infrastructure and collaboration needed to implement these initiatives.
Hyperion rebuilds after cancellation of previous transaction
Founded in the summer of 2025, Hyperion is a treasury company built around HYPE, generating revenue by pledging and deploying its token holdings. The company currently holds 2 million HYPE tokens and previously signed HAUS agreements with Felix and Native Markets, both of which are building a HIP-3 market denominated in USDH (Hyperliquid's now-obsolete native stablecoin).
In June 2026, Hyperion terminated the two agreements after Hyperliquid abandoned USDH and adopted Circle's USDC as the main offering asset, and Coinbase was designated as the treasury provider of stablecoin. The agreement with Skew is the first new HAUS agreement announced by Hyperion since its termination.
