# Hyperliquid > Track Hyperliquid's fees, revenue, active users and trading volume with daily on-chain data across 4 chains. See charts and datasets in one place. Source: [Hyperliquid on Token Terminal](https://tokenterminal.com/explorer/projects/hyperliquid). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction). - Token: HYPE - Sectors: Derivative exchanges - Chains: arbitrum, hypercore, hyperevm, hyperliquid ## About ### What it is Hyperliquid is a layer-one (L1) blockchain purpose-built for trading and decentralized finance. It combines: HyperCore, the high-performance trading engine powering perpetuals, spot markets, and oracles; HyperEVM, a fully compatible smart contract layer enabling developers to build DeFi applications such as lending, vaults, governance, bridges, and stablecoins directly on-chain. Its consensus mechanism, HyperBFT, is a custom algorithm inspired by HotStuff, optimized for throughput (200k+ orders/sec) and deterministic finality. The HYPE token underpins the network, granting holders rights to participate in governance, staking, and securing the protocol — effectively letting users own a share of the Hyperliquid ecosystem. ### Who uses it HYPE tokenholders own, govern, and secure the Hyperliquid network through on-chain governance. The Hyper Foundation oversees community governance and ecosystem growth, ensuring decentralization and alignment of incentives across traders, builders, and validators. Hyperliquid’s investors include Tioga Capital Partners, Collab+Currency, Infinite Capital (San Juan), Optimista Capital, and RockawayX, all holding minority venture capital positions. ### How it works Hyperliquid generates revenue through on-chain perpetual futures and spot trading, facilitated by its HyperCore execution layer. Every order, trade, and liquidation occurs on-chain with one-block finality, enabling ultra-low latency and transparent trading. Liquidity providers and market makers earn supply-side fees from bid-ask spreads and transaction rebates, while network participants can earn governance and staking rewards via the HYPE token. ## Metrics Token Terminal tracks these metrics for Hyperliquid daily. Each page has a chart with the full history. - [Price](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/price) - [Fully diluted market cap](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/market-cap-fully-diluted) - [Circulating market cap](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/market-cap-circulating) - [Token trading volume](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/token-trading-volume) - [Token turnover (fully diluted)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/token-turnover-fully-diluted) - [Token turnover (circulating)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/token-turnover-circulating) - [Circulating supply](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/token-supply-circulating) - [Maximum token supply](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/token-supply-maximum) - [Bridge deposits](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/bridge-deposits) - [Trading volume](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/trading-volume) - [Notional trading volume](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/notional-trading-volume) - [Open interest](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/open-interest) - [Fees](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/fees) - [Supply-side fees](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/fees-supply-side) - [Revenue](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/revenue) - [P/F ratio (fully diluted)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/pf-fully-diluted) - [P/F ratio (circulating)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/pf-circulating) - [P/S ratio (fully diluted)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/ps-fully-diluted) - [P/S ratio (circulating)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/ps-circulating) - [Active users (daily)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/user-dau) - [Active users (weekly)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/user-wau) - [Active users (monthly)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/user-mau) - [Active addresses (daily)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/active-addresses-daily) - [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/active-addresses-weekly) - [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/active-addresses-monthly) - [Core developers](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/active-developers) - [Code commits](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/code-commits) - [Transaction count](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/transaction-count) - [Transactions per second](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/transactions-per-second) - [Average transaction fee](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/transaction-fee-average) - [Average fees per user (AFPU)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/afpu) - [Average revenue per user (ARPU)](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/arpu) - [Block time](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/block-time) - [Take rate](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/take-rate) - [Liquidation volume](https://tokenterminal.com/explorer/projects/hyperliquid/metrics/liquidation-volume) ## Links - [twitter](https://twitter.com/HyperliquidX) - [website](https://hyperliquid.xyz/) - [github](https://github.com/hyperliquid-dex) - [discord](https://discord.com/invite/hyperliquid) - [etherscan](https://app.hyperliquid.xyz/explorer/token/0x0d01dc56dcaaca66ad901c959b4011ec)