bbHLP
Tokenized exposure to Hyperliquid's HLP vault.
bbHLP gives you tokenized exposure to Hyperliquid's HLP vault. HLP participates in activities such as market making and liquidations, with depositors sharing its profits and losses.
| Detail | Value |
|---|---|
| Network | Hyperliquid / HyperEVM |
| Deposit asset | USDT0 |
| Withdrawal asset | USDT0 |
| Minimum deposit | $10 of value, calculated by the router |
| Gas token | HYPE |
How it works
Leveraging Hyperliquid's enshrined read-and-write pre-compiles ensures that we are able to have an entirely non-custodial and onchain product. Detailed information regarding pre-compiles can be found in the Hyperliquid Docs.
Liquidity management between HyperEVM and Hyperliquid Core is handled through specialized escrow contracts. These escrow contracts can reduce or entirely eliminate the withdrawal cooldown period a user would typically experience when the user directly deposits in the HLP vault (subject to current available liquidity).
This flexible approach to the bbHLP allows for the greatest amount of assets to be used to enter into the HLP vault with the fewest number of user actions. Making it a great lego block to be utilized in DeFi as collateral, trading pair, or yield asset.
Fees and returns
bbHLP charges a 1.5% annualized management fee on assets inside of the vault. This fee is updated on all changes in shares inside of the vault and is reflected in the issuance of net new shares to the fee collector's address. bbHLP does not charge any mint or redeem fees to the user.
The app's displayed rate comes from HLP's reported performance and does not deduct this Blueberry management fee.
Withdrawals and risks
Use Withdraw to redeem bbHLP for USDT0. Redemptions depend on the available liquidity in the vault; some assets may be deployed fully into the HLP vault and be temporarily unavailable. The liquidity sleeve is maintained based on velocity of minting and redemptions.
HLP can lose money. bbHLP also carries stablecoin, smart-contract and withdrawal-liquidity risks. Review any additional risks before using your shares in another protocol.