Hyperion DeFi is a U.S.-listed company whose core business is building and actively managing a treasury of HYPE, the native token of the Hyperliquid blockchain. Hyperliquid is a layer-one blockchain built for high-frequency on-chain finance, with its flagship product being a fully on-chain order book exchange for perpetual futures — derivatives that let traders speculate on asset prices without expiration dates. Rather than simply holding HYPE, Hyperion DeFi deploys its treasury across multiple yield-generating strategies. These include staking HYPE to its own validator node, earning commissions on third-party delegations through a co-operated validator (Kinetiq x Hyperion), and using liquid staking tokens as collateral in options strategies. The company's proprietary HYPE Asset Use Service (HAUS) model supplies staked HYPE to institutional counterparties — trading firms, DeFi protocols, and stablecoin infrastructure providers — who need large staked HYPE positions to access reduced trading fees, launch new perpetual futures markets, or support stablecoin collateral requirements. In exchange, Hyperion DeFi earns a share of the resulting fee savings or trading fee revenue. Hyperion DeFi funds HYPE accumulation primarily through equity raises. The company also retains a legacy ophthalmic device business, the Optejet drug delivery device, which it is in the process of divesting.