According to ME News, on August 28 (UTC+8), HyENA, a perpetual trading platform backed by Ethena’s USDe under the Hyperliquid HIP-3 standard, announced its shutdown. The team stated that with Hyperliquid’s deepening integration with USDC, the role of USDe as collateral on the platform has changed, prompting the decision to shut down the project—user funds remain unaffected. Markets will be gradually taken offline hourly between August 31 and September 2, with positions automatically settled at the mark price at the time of delisting, requiring no user action; HLPe deposits can be redeemed 1:1 at any time via Upshift (subject to a one-day redemption period); HyENA Points will not be snapshotted or converted into tokens, and no token issuance is planned. (Source: Foresight News)
HyENA Announces Shutdown, Markets to Be Phased Out from August 31 to September 2
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Summary
HyENA, a perpetual futures platform using Ethena’s USDe, will be suspended from August 31 to September 2. Markets will be removed hourly, with all positions settled automatically. Users can redeem HLPe via Upshift, but HyENA Points will not be converted. This decision follows Hyperliquid’s transition to USDC, which changes the role of USDe. Traders monitoring altcoin markets may observe the impact on perpetual futures markets.
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