Valantis Launches Hyperliquid (HYPE) Fee Discount Market via Pendle, Capping Savings at 40%

Valantis Ties HYPE Fee Cuts to Pendle

Valantis, a liquid staking and trading platform, launched a market for Hyperliquid (HYPE) trading fee discounts in integration with the DeFi protocol Pendle, announced on Aug. 27, giving traders a way to buy fee savings without staking the token themselves. On Hyperliquid, trading fees fall as a wallet's staked HYPE rises: more than 10 HYPE staked trims fees by 5%, more than 100 HYPE by 10%, and the schedule scales to a 40% discount at the top tier — above 500,000 HYPE staked — according to the exchange's published fee schedule, a structure our how to trade on Hyperliquid guide walks through step by step. Until now, traders captured those tiers by staking HYPE directly, while large market makers and protocols reportedly struck over-the-counter deals to lift their discount levels.

The new mechanism combines stHYPE, Valantis's liquid staking token that earns staking rewards while remaining usable across DeFi, with Valantis Prime, the firm's trading service. Through Valantis Prime, stHYPE holders can apply a discount of up to 40% to ordinary spot and perpetual trading on Hyperliquid — including perps opened by third parties under HIP-3, the proposal that lets outside operators launch and run their own perpetual markets on the Layer 1 and extend them to assets beyond crypto. The Pendle integration attaches the fee-discount right to stHYPE's yield token (YT), which trades on Pendle, so the discount itself now carries a market price. Traders can buy the YT rather than purchase and stake HYPE, while stHYPE holders can sell discount rights they do not plan to use. A Valantis study of perpetual leverage trading from Jan. 1 to Apr. 1, 2026 found that among Hyperliquid's top 20,000 traders, those staking HYPE had cut roughly $40 million in annualized fees. The team's official announcement also cited $25 million in added liquidity for margin alongside the discount access.

On-Chain Watch Page Surfaces for Key Address

A dedicated on-chain watch page covering a specific address tied to Hyperliquid went live on Aug. 28 at 23:06 UTC, disclosed through a short notice from the community tracker HyperliquidNews that carried no figures and no details about the address itself. Wallet watching, as a practice, means following the trail an address leaves on-chain: its transactions, open positions, order fills, realized profit and loss, and shifts in balance. On an order-book venue, where fills and position changes register as discrete on-chain events — unlike an automated market maker, whose liquidity sits in pooled balances — that granularity makes address-level tracking unusually precise. Because Hyperliquid's economy centers on perpetual futures, positions and liquidations are visible at the wallet level in a way centralized-exchange flows are not, and address-level surveillance has become standard practice across the Hyperliquid ecosystem and the wider altcoin market.

The newly published page follows that template, exposing publicly recorded activity for the address it covers. Its limits matter as much as its capability: public on-chain data shows past behavior and current state, not intent, and it says nothing about where the wallet will trade next, so the page reads as context rather than a directional signal on HYPE. The notice confirmed only the page's existence — no additional metrics, alerting features or list of covered addresses were disclosed, and Hyperliquid-related data and alerting tools continue to be documented as separate materials become verifiable. Whether the tracked address belongs to a market maker, a treasury or an individual whale remains unstated, leaving the page's significance open until the wallet's activity is read directly. For readers tracking the token's broader flow picture, HYPE's spot price slipped 5.2% over the past 24 hours per aggregate market data, a move that keeps attention fixed on where large wallets stand. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

More Discount Markets Ahead

Read together, the two developments trace one arc: the utility wrapped around HYPE — fee tiers, staking rights, address-level transparency — is becoming a tradeable and monitorable layer of its own. Valantis's own announcement fixes the concrete terms: the first market went live on Aug. 27 and matures on Jan. 28, 2027, with a successor market planned before expiry. What was not disclosed matters as well — no total value locked, no size for the discount rights sold and no YT pricing were published at launch. The token's economic stack keeps thickening beyond fee markets; Hyperliquid has also begun accruing USDC reserve yield toward HYPE buybacks estimated at $160M annually. COINOTAG's reading: competition on this venue is shifting from token price toward infrastructure that monetizes or monitors HYPE utility.