Hyperliquid Financials
Network revenue on Hyperliquid consists of Real Economic Value (REV) on HyperEVM and trading fee revenue on the trading platform (HyperCore).
Network REV is a standardized metric that tracks blockchain value accrual generated by user activity. REV consists of both in-protocol transaction fees and out-of-protocol tips that users pay for transaction execution, so it measures the monetary demand to transact on a general-purpose chain. All transaction fees are paid in HYPE and burned.
Trading revenue on HyperCore consists only of the amount earmarked to the Assistance Fund, which is currently 93% of total trading fees. The remaining 7% is distributed to the HLP vault, a liquidity provider mechanism, and is not included as revenue.