HyENA winds down all Hyperliquid markets after $4B+ volume, discontinuing USDe margin trading as Hyperliquid shifts focus to USDC alignment.

DeFi & Yields · 2026-08-28

HyENA is discontinuing all perpetual markets on Hyperliquid following $4 billion in cumulative trading volume, citing Hyperliquid's strategic shift toward USDC alignment that has narrowed the competitive landscape for alternative stablecoins. The platform processed trades for over 12,000 traders who collectively earned approximately 2.5 million USDe in rewards; eighteen markets will delist sequentially between August 31 and September 2, 2026, with positions settling automatically and margin returned to spot balances at no cost to users.

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