MiCA Crypto Alliance Releases MiCA White Paper for HYPE, the Hyperliquid Layer 1 Crypto-Asset

The MiCA Crypto Alliance is pleased to announce the release of the HYPE MiCA White Paper, prepared with assistance from the Alliance and submitted by YouHodler in accordance with Regulation (EU) 2023/1114.

The white paper supports the admission to trading of HYPE, the native crypto-asset of the Hyperliquid ecosystem, on YouHodler’s trading platform. It follows the MiCA Title II structure and includes the required Article 6 statements, alongside detailed disclosures on risks, the underlying technology, and sustainability indicators.

This submission illustrates how decentralised, Layer 1 crypto-assets can seek regulated market access in the European Union through MiCA-compliant documentation.

Key Highlights from the White Paper

• HYPE is the native crypto-asset of Hyperliquid, a purpose-built Layer 1 blockchain designed for fully on-chain trading, combining a high-performance trading engine (HyperCore) with an Ethereum-compatible smart contract environment (HyperEVM).
• The asset is classified as an “other crypto-asset” under MiCA Title II, as it is neither an asset-referenced token nor an e-money token, and it is not classified as a utility token under Regulation (EU) 2023/1114.
• HYPE has a fixed maximum supply of 1 billion tokens and is used for transaction fees, delegated proof-of-stake participation, and on-chain governance within the Hyperliquid network.
• The token does not grant holders any ownership, profit, dividend, redemption, or contractual rights against the issuer or any affiliated entity.
• The white paper has been prepared by YouHodler Italy SRL, with the assistance of the MiCA Crypto Alliance, in connection with the planned admission to trading of HYPE.

You can access the white paper here.

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About Hyperliquid

Hyperliquid is a Layer 1 blockchain optimised for low-latency, fully on-chain trading. All order placement, matching, execution, funding, and liquidation events are processed directly on-chain with deterministic finality through HyperBFT, a Byzantine fault tolerant consensus mechanism inspired by HotStuff.

HYPE serves as the core economic asset of the network, supporting transaction fees, delegated proof-of-stake participation, and on-chain governance. It does not grant ownership, profit rights, or claims against the issuer, and functions within a decentralised protocol architecture as described in the white paper.

About YouHodler

YouHodler is a Web3 fintech platform with operations in Switzerland and the European Union, offering a range of crypto financial services that connect fiat and digital asset ecosystems. Its offerings include crypto-backed loans, interest-earning crypto yield accounts, and asset conversion services that support both fiat and cryptocurrencies. The platform provides users with tools to manage, earn on, and convert their digital assets, while also offering features such as trading and leveraged products. YouHodler markets its services as accessible to a broad range of users, combining traditional financial mechanisms with crypto-native functionality.

White Paper Support

The MiCA Crypto Alliance supports issuers, offerors, CASPs, and ecosystem participants across major blockchain architectures and ecosystems in meeting MiCA requirements efficiently and transparently. Our work combines legal analysis, technical review, and standardised sustainability reporting to deliver MiCA-compliant white papers designed to support exchange listings and regulatory notification.

If you’d like to request compliance services, fill out this form.