RootData’s new map shows 30 core Web3 partners plugging custody, trading, wallets, and infra into Hyperliquid’s L1 as it pushes toward an on-chain liquidity OS.
RootData’s latest ecosystem map shows Hyperliquid positioning itself as a performant L1 “optimized from the ground up” to run a full on-chain financial system, with user‑built applications plugging into native components like its orderbook perpetuals DEX.
How Hyperliquid’s partner network is structured
At the funding and settlement layer, Hyperliquid has integrated with major stablecoin issuers—Circle (USDC), Tether (USDT), and Ethena’s synthetic dollar stack—to ensure that its derivatives and DeFi rails are natively dollarized.
Under the hood, it connects to cross-chain and oracle infrastructure such as Chainlink, Axelar, deBridge, and Ripple‑related rails, giving external capital and data feeds standardized ways to reach Hyperliquid while keeping latency low enough to maintain its sub‑second block times.
On the user entry side, RootData highlights wallets and interfaces including Phantom, Rabby Wallet, and DeBank as key partners, lowering friction for both retail and power users to interact with Hyperliquid’s L1 and its DeFi protocols.
DeFi protocols and institutions around Hyperliquid liquidity
RootData notes that more native DeFi protocols have begun to cluster directly on Hyperliquid, including Pendle-style yield products, Felix, HypurrFi, and HyperBeat, which collectively extend the chain’s use cases from perpetuals into structured yield, credit, and other on-chain instruments.
Across its ecosystem map, RootData counts 145 “quality projects” integrated with or built on Hyperliquid, from cross‑chain bridges and oracles to trading tools and prime brokers such as HyperLink and Hybra Finance, indicating that builders increasingly treat Hyperliquid as a base liquidity layer rather than a single‑app venue.
On the institutional side, custodians like Anchorage Digital, BitGo, and Fireblocks appear among the 30 highlighted partners, a sign that Hyperliquid connectivity is being wired into the same infrastructure large funds use to hold and move assets across chains.
Trading platforms, quant shops, and market‑making firms—including Bybit, trade.xyz, and IMC Trading—are listed as ecosystem participants, helping deepen order books and making it easier to route size into and out of Hyperliquid markets.
More detail on the partner breakdown and categories is available in RootData’s Chinese-language archive entry: Hyperliquid Crypto Business Partner.
Toward an on-chain CEX-style operating system
Taken together, RootData argues that Hyperliquid is “continuously expanding around on-chain liquidity,” effectively trying to replicate the ecosystem model of a centralized exchange—market structure, funding currencies, custody, front-ends, and institutional access—but with the core no longer being an internal account ledger.
Instead, every order, cancel, trade, and liquidation is executed on-chain at Hyperliquid’s base L1, with external partners plugging into that shared state rather than into siloed CEX databases, aligning custody providers, wallets, and DeFi protocols around the same liquidity backbone.
RootData places this Hyperliquid map alongside earlier ecosystem illustrations for players like Mastercard and Crypto.com, arguing that public visualization of partner networks has become a key way for crypto projects to improve transparency and market trust.
The platform explicitly “welcomes Web3 projects to claim their information” and continues to open more disclosure channels for business relationships, using ecosystem maps to nominate Web3 partners for upstream clients such as Visa, Mastercard, Stripe, Coinbase—and now, increasingly, on-chain liquidity hubs like Hyperliquid.
