Hyperliquid is a permissionless liquidity backend that has attracted a cumulative volume of $1,300 billion since its inception in June 2023. To date, it has attracted 450k unique users, of whom 20k actively trade, resulting in an average daily volume of $4.2 billion. This DAU number will need to 100x over the next few years for Hyperliquid to become the liquidity backend for all finance.
The Hyperliquid frontend is a basic web interface. However, apps like Scalable and Robinhood are the benchmarks for the mobile trading experience. For the userbase of Hyperliquid to 100x, we believe teams focused on matching and beating state-of-the-art tradfi trading apps will be paramount. The Hyperliquid team itself focuses on providing the blockchain and liquidity infrastructure. Products like Avy must build upon that infrastructure to create distribution. Moreover, Hyperliquid directly incentivizes teams to build on top of it through builder codes and user-deployed perps.
Recent policy shifts from Apple have also opened crypto apps to the biggest and most trusted software distribution channel. The app store enables teams to distribute their apps to billions of users. Apps bridge wallet interactions from the desktop to the mobile phone and create a hassle-free user experience. Therefore, we want to do our part and build the gateway to the home of all finance. Our first product is thus, a native iOS trading platform built upon the Hyperliquid backend.
Avy delivers real-time market insights, sends instant alerts, and offers strategic guidance to protect user’s positions. Avy’s single-largest KPI is to provide the best interface that allows millions or billions of users to access Hyperliquid.
Here is a view of some of the features Avy offers:
Avy uses Agent Wallets to seamlessly onboard Hyperliquid users. An Agent Wallet is a keypair that Hyperliquid registers as an authorized signer for transactions on behalf of a user on the Hyperliquid L1. Hyperliquid users can create Agent Wallets with a simple click on the frontend and import them through a QR code. The Hyperliquid frontend uses agent wallets to create a seamless trading experience, but stores them unencrypted in the browser cookies. Avy improves on this by storing the private key in the iPhone's secure enclave.
After importing a wallet, Avy offers all features a user expects from a trading app:
Currently, Hyperliquid traders have a negative $65 million cumulative PnL. Avy will implement a suite of products to give its users a strategic edge over regular market participants. We believe helping our users prevent liquidations and manage their risk properly will be one of the most significant moats we can build over time.
Avy will roll out personal assistants that ****work with ****users throughout the lifecycle of a trade.