Hyperbeat, a protocol facilitating yield infrastructure on the Hyperliquid decentralized exchange, has successfully completed a $5.2 million seed round, which was co-led by ether.fi Ventures and Electric Capital. The funds will be directed toward enhancing their yield infrastructure for traders, protocols, and institutions engaged in the Hyperliquid ecosystem.
What to know:
- Hyperbeat aims to improve yield infrastructure for its users.
Additional investments came from notable ventures including Coinbase Ventures, Chapter One, Selini, Maelstrom, and Anchorage Digital, alongside community contributions via HyperCollective.
Hyperbeat acts as the primary yield layer for Hyperliquid, creating a permissionless financial infrastructure that empowers users to generate earnings and manage their on-chain portfolios seamlessly. Their offerings unlock yields previously available only to sophisticated users and convert them into straightforward, tokenized vaults.
Key products in Hyperbeat’s ecosystem comprise:
- beHYPE: A liquid staking token.
- Hyperbeat Earn: High-yield vaults on HyperEVM.
- Morphobeat: A credit layer facilitating borrowing against vault positions.
- Hyperbeat Pay: An alternative to traditional banking services.
As Hyperliquid’s total locked value exceeds $2.1 billion, institutional interest in its ecosystem is also rising.
“Hyperbeat integrates solid technical capabilities with a deep insight into the Hyperliquid community,” commented Avichal Garg, General Partner at Electric Capital, in a press release shared with CoinDesk.
Read more: What’s Next for Hyperliquid’s HYPE Token?
