HypurrFi Brings Euler Finance to Hyperliquid’s Growing Ecosystem

Euler Finance has made its way to Hyperliquid, with Hypurrfi powering the integration.

HypurrFi is a composable DeFi protocol on the Hyperliquid EVM that uses battle-tested primitives to unlock capital efficiency within the Hyperliquid ecosystem.

The protocol synthesizes pooled lending, spend, earn, leverage, and vaults into a unified connectivity layer.

Meanwhile, Euler is a modular lending platform that enables users to lend, borrow, and build without limits.

It empowers builders to create and manage custom lending markets in a fully permissionless way.

Euler’s full lending stack goes live on Hyperliquid

Euler Finance and HypurrFi have joined hands to launch the former’s complete lending stack, including Euler Markets, Earn Vaults, which are both live now, and EulerSwap, on Hyperliquid.

Hyperliquid is the fastest-growing perpetuals and spot DEX in crypto, with a clear trajectory to become a hub for onchain global finance. The sidecar EVM enables liquidity bootstrapping, derivative lending, and unlocks niche financial use cases.

The initial Earn Vault will be open for deposits soon, featuring HYPE, HYPE LSTs, and stablecoins USDH, USDC, and USDT0.

Last Friday, Hyperliquid unveiled portfolio margin for spot assets on HyperCore, unlocking a new opportunity set for Hyperliquid EVM lending products.

The rollout sparked some debate around whether lending on HyperEVM really mattered, but a recent post from Jeff Yan in Hyperliquid’s official channels reaffirmed the role of a lending layer that can properly underwrite risk for tokenized BLP and other complex trader positions.

With HypurrFi, Euler brings a modular lending stack purpose-built for Hyperliquid’s pace of innovation. With derivative-style assets like BLP emerging, the challenge isn’t liquidity alone, but risk isolation.

For example, if a BLP (portfolio margin) basket includes spot HYPE, BTC, ETH, and USDC, a traditional pooled lending market struggles to cleanly separate exposure between spot assets and their derivative representations.

Euler’s risk-isolated markets solve this by allowing each asset, including derivative lending primitives like BLP, to live in its own market with bespoke risk parameters.

This preserves capital efficiency while preventing cross-contamination of risk, something that pooled models or 1:1 models are structurally ill-equipped to handle.

As a result, HypurrFi gives Hyperliquid a lending layer that can scale alongside constant product innovation, without compromising on risk management.

Why should you pay attention?

As the first major HyperEVM lending protocol, Euler, powered by HypurrFi, is uniquely positioned to further expand liquidity and capital efficiency on Hyperliquid.

In a statement to blocmates, Andrew Redden, the Co-founder and CEO/CTO of HypurrFi, explained,

“Portfolio margin empowers Hyperliquid EVM lending protocols to serve a deeper set of traders and assets. Modular lending protocols can onboard new, volatile, or specialized assets and unlock innovative trading strategies.”

He added,

“Think about tokenized mortgages or PT Tokens, for example. DeFi lending, especially with the modular framework provided by Euler, vastly unlocks efficiency alongside Core Hyperliquid offerings.”

With over $2.3 billion in deposits, Euler has become one of the fastest-growing and largest lending platforms in the industry.

With native looping and borrower-friendly dutch auction liquidations, Euler’s architecture fits naturally into Hyperliquid’s trader-heavy ecosystem.

Michael Bently, the CEO and Founder of Euler Finance, told blocmates,

“We are thrilled to collaborate with HypurrFi. Their high-calibre team, already trusted within the Hyperliquid community, is the ideal partner to help Euler's tech stack reach its full potential on HyperEVM.”

What Hypurrfi brings to the table?

Built as the lending layer for traders on Hyperliquid, HypurrFi’s HyperEVM launch, featuring simple pooled markets, makes the Euler partnership a natural fit, bringing capital efficiency to Earn Vaults and enabling advanced yields via the Euler Vault Kit.

These offerings add to HypurrFi Pooled Markets, its upcoming trading terminal, and a Credit Card that allows users to spend without selling at 100 million+ merchants worldwide while borrowing directly from their HypurrFi position.

HypurrFi is also launching HIP-3 permissionless perpetuals markets on Hyperliquid, including PKMN, a high-value Pokémon collectible trading card index, and other tailor-made markets.

Euler is natively integrated into HypurrFi Markets and its UI, with a legacy deployment of Euler available for users who prefer that UX.

Euler’s modular, composable system lets HypurrFi rapidly build, customize, and scale lending products for diverse assets and compliance needs, something legacy lending tech can’t match.

Zooming out

While the launch is anchored in Euler’s highly audited infrastructure, with over 45 audits completed, HypurrFi controls full end-to-end ownership of the product, with a revenue agreement between the two.

Clearstar Labs is managing risk, markets, and vaults for the initial market launches and Earn Vault products.

Hypurrfi and Euler provide an organic playing ground to execute sophisticated, highly liquid strategies, capturing significant yield for their users. In hindsight, they unlock a reliable, audit-backed lending backbone on Hyperliquid, something large desks have been waiting for before committing meaningful capital.

As Hyperliquid’s revenue flywheel compounds and new derivative primitives come online, this stack is well-positioned to become a magnet for onchain deposits and a durable source of DeFi yield.

With attention and capital only just starting to rotate in, early participation matters. Positioning at this stage means staying ahead of upcoming Hyperliquid news and the liquidity it’s expected to unlock.

Together, HypurrFi and Euler Finance are setting the stage for a more efficient, liquid, and accessible onchain financial ecosystem.