Liquid Perps: Expanding Mobile-First DeFi Trading in the Hyperliquid Ecosystem

In the rapidly developing world of decentralized finance (DeFi), perpetual futures trading has emerged as one of the most competitive and high-growth sectors. Among the platforms pushing this evolution is Liquid Perps, a mobile-native application built to deliver a fast, secure, and accessible trading experience directly from a smartphone. By leveraging the infrastructure of Hyperliquid, the current market leader in decentralized perpetual futures, Liquid Perps is aiming to redefine how traders interact with on-chain derivatives.

On August 5, 2025, Liquid Perps announced public access to its iOS trading app, signaling a milestone in its development. While the rollout remains code-gated for some users and excludes U.S.-based traders due to regulatory restrictions, the move demonstrates the team’s readiness to scale access and engage a wider audience.

Let's delve in!

The Platform at a Glance

Liquid Perps integrates directly with Hyperliquid, a purpose-built Layer 1 blockchain optimized for perpetual futures. Hyperliquid has steadily captured more than three-quarters of the decentralized perps market, processing over $320 million in cumulative trading volume in July 2025 alone and maintaining a 47% month-on-month growth rate. Its infrastructure can handle up to 200,000 orders per second with sub-second execution times, matching or exceeding the speed of leading centralized exchanges while retaining the transparency and security of on-chain settlement.

This technical foundation allows Liquid Perps to deliver a trading experience that combines institutional-grade execution with the accessibility of mobile. The use of USDT as the sole collateral asset simplifies margin requirements, while the elimination of gas fees removes a common friction point in DeFi trading. As a result, traders can focus entirely on market strategy without the overhead of complex blockchain interactions.

The Liquid Perps app capitalizes on this infrastructure to deliver:

Support for BTC, ETH, and trending altcoins, with leverage of up to 40x.
USDT-only collateral for simplified margin management.
Low-latency trading with no gas fees.
A mobile-first interface designed for convenience and responsiveness.

Core Features

1. Mobile-First Design
Unlike many DeFi trading interfaces that are desktop-oriented or require complex wallet setups, Liquid Perps was designed from the outset for mobile use. The app enables traders to open, manage, and close positions from anywhere, ensuring they can react instantly to market conditions.

2. Advanced Leverage Options
With up to 40x leverage, the platform caters to both professional traders and experienced retail participants who want to amplify exposure to their chosen markets. High leverage can be used strategically to magnify gains, though it also increases exposure to losses.

3. Hyperliquid-Powered Execution
All trades are routed through Hyperliquid’s on-chain orderbook, benefiting from deep liquidity across over 150 perpetual markets. This integration minimizes slippage and delivers consistent order execution quality, even during periods of heightened volatility.

4. Non-Custodial Control
Liquid Perps follows a self-custody model. Users’ funds remain in their control at all times, reducing counterparty risk and avoiding the vulnerabilities of centralized custody. This approach aligns with DeFi’s core principles of transparency and user sovereignty.

5. Enhanced Onboarding and Security
By integrating with Privy, Liquid Perps combines secure account management with a smooth onboarding process, making the app approachable for new DeFi users without compromising safety.

Understanding Perpetual Futures in DeFi

What Are Perpetual Futures?

Perpetual futures are derivative contracts that allow traders to speculate on an asset’s price without an expiration date, unlike traditional futures. They are settled on-chain in DeFi, using stablecoins like USDT as collateral. Prices are kept in line with the spot market through a funding rate mechanism, where long or short positions pay periodic fees to balance market dynamics.

Why DeFi for Perpetual Futures?

DeFi platforms like Hyperliquid use decentralized orderbooks and on-chain settlement to ensure transparency and eliminate counterparty risk. Unlike centralized exchanges, where a platform holds user funds, DeFi protocols allow self-custody, giving traders control over their assets. However, DeFi trading often faces challenges like high gas fees and latency, which Hyperliquid and Liquid Perps address through optimized infrastructure.

Role in the Hyperliquid Ecosystem

Hyperliquid’s dominance in the decentralized perpetuals market has created a strong foundation for Liquid Perps. The ecosystem’s daily volumes exceed $15 billion, with open interest regularly surpassing $10 billion. In parallel, Hyperliquid’s native HYPE token has seen rapid appreciation, climbing 47% in a single week in mid-2025 and reaching a market capitalization of over $10 billion.

The network has also attracted strategic integrations. Phantom Wallet recently launched in-wallet perpetual futures trading powered by Hyperliquid, and major centralized exchanges such as Binance Futures and Coinbase Advanced are scheduled to list HYPEUSDT perpetual contracts with leverage up to 75x. These developments further validate the infrastructure Liquid Perps relies on and extend the reach of Hyperliquid-powered products.

Market Reception and Growth

The Liquid Perps launch has been met with enthusiasm from the DeFi community. The project’s X account has surpassed 13,000 followers, and community members have shared positive early impressions, highlighting the app’s responsiveness and ease of use. Platforms like DeFiLlama have begun tracking its performance on their Fees & Revenue Dashboard, signaling broader industry recognition.

Beyond retail traders, the platform’s architecture makes it suitable for algorithmic and professional trading strategies. Hyperliquid’s high throughput and Liquid Perps’ API accessibility mean that systematic traders can deploy bots or quantitative models without the latency issues that often plague on-chain platforms.

The app’s staged rollout strategy is deliberate, prioritizing stability, performance testing, and compliance over immediate mass adoption. By maintaining code-gated access, the team can refine user experience, scale infrastructure, and address regulatory complexities before opening to the general market.

Risks and Considerations

While Liquid Perps offers high-speed execution and deep liquidity, the nature of leveraged perpetual futures trading carries significant risks. Market volatility can result in rapid and substantial losses, as illustrated by a recent $40 million liquidation event on Hyperliquid. Traders are encouraged to apply strict risk management practices, such as setting stop-loss orders, avoiding excessive leverage, and maintaining healthy margin buffers.

The current exclusion of U.S. users and limited public availability may also slow initial growth. However, these measures could position the platform for more sustainable expansion in the long term.

Outlook

With the DeFi perpetual futures market expected to expand further in 2025, Liquid Perps’ combination of mobile accessibility, institutional-grade performance, and non-custodial security places it in a strong competitive position. As Hyperliquid continues to roll out performance upgrades, expand supported assets, and deepen liquidity pools, Liquid Perps stands to benefit directly.

If adoption follows current trends, Liquid Perps could become a primary gateway for mobile traders seeking a decentralized alternative to traditional derivatives platforms. Its success will depend on balancing accessibility with risk controls, expanding regional availability, and maintaining the execution quality that sets it apart from slower, more fragmented DeFi trading solutions.

For traders looking for a blend of the speed and liquidity of centralized exchanges with the transparency and control of DeFi, Liquid Perps represents a compelling proposition. Its integration with the Hyperliquid ecosystem ensures it is not just another trading app, but a strategic component in one of the most rapidly growing infrastructures in the decentralized derivatives market.