London, Aug 27 (Investing.com) – Valantis and Pendle have created the first open market for Hyperliquid trading fee discounts. The platform allows traders to purchase fee reductions without acquiring the underlying HYPE token, and enables HYPE stakers to sell discount rights for additional yield.
Staking tiers are set at 10 HYPE (approximately $800) for a 5% fee discount and 500,000 HYPE (about $40 million) for a 40% discount. Current discount usage represents roughly $40 million in annual savings across Hyperliquid’s top 20,000 traders, with an estimated 5% of circulating HYPE already staked for the benefit.
Valantis projects that broader access to the discount could generate an extra $100 million to $300 million in yearly savings. About half of the top 20,000 traders do not stake any HYPE and are responsible for roughly 70% of all fees paid on the platform.
The market opened on Aug. 27, 2026 and is set to expire on Jan. 28, 2027, with a follow‑on market planned before expiry. Valantis Prime smart contracts extend the discount to stHYPE holders while keeping the tokens usable as margin on platforms such as Hyperlend and Morpho.
Previously, fee discounts were traded privately among market makers and protocols. Hyperion DeFi, a Nasdaq‑listed firm that holds HYPE as a treasury asset, publicly committed HYPE to large trading wallets in exchange for revenue from fee savings.
"Hyperliquid is leading the frontier on token utility. There is more than $40 million a year in fee savings sitting on Hyperliquid, and until today none of it could be bought, sold, or priced... A trader who needs lower fees can now rent them. A holder who doesn't can sell them and earn more for it," said Deven Matthews, co‑founder and CEO of Valantis Labs.
