Hyperliquid unveils new fee discount system and account linking feature for May 5
Hyperliquid will adopt a new system to calculate fees on the platform, which includes different tiers for staking as well as separate fee schedules for perpetual contracts and spot trading.
In a recent post, the decentralized exchange announced that it will start implementing the new fee system and staking tiers starting from May 5 at 03:00 UTC. The new fee system includes lower trading fees when users stake HYPE (HYPE), the platform’s utility token.
Based on the staking tiers, users will be eligible for trading fee discounts ranging from 5% to 40%. Divided into six staking tiers, the discounts will be determined by the amount of HYPE staked. For example, the lowest tier called “Wood” requires a minimum of 10 HYPE staked. Users that stake Wood can receive a 5% discount on their trading fees.
On the other hand, the higher tiers like “Platinum” and “Diamond,” offer discounts up to 40% if users stake HYPE above 100,000 or more than 500,000.
In addition, Hyperliquid will start introducing separate fee standards for perpetual contracts and spot trading. Perpetual contracts and spot volume will be added together to determine a user’s fee tier. Not only that, spot volume will be counted as double its amount for calculating the fee tier.
Another new feature that will also be introduced along with this update is that users can link their staking and trading accounts on the testnet. This would allow users to use the staking discounts received from one account and apply it towards a different trading account.
According to the blogpost, linked staking accounts will be able to gain full access of the funds on a user’s trading account. The staking user will not receive any staking-related fee discounts after being linked. The act of linking an account is permanent, and once two accounts are linked, they cannot be unlinked.
Hyperliquid stated that the account linking feature is expected to go live not long after the introduction of fee systems and staking tiers.
Last month, Hyperliquid delisted JELLY perpetual contracts from its platform after experiencing a loss amounting to $10.63 million due to a sudden 230% surge in the token’s price. The Hyperliquid team suspected market manipulation was behind the token’s sudden spike.
