Trade xyz (N/A)

Trade.xyz project is the first HIP-3 deployment on Hyperliquid, enabling trading of XYZ perpetual futures. The HIP-3 by Hyperliquid enables any builders to copy and customize the framework of Hyperliquid perp DEX for staking at least 500K $HYPE on the network. 

In exchange, builders can leverage Hyperliquid’s core features and technology while setting their own fee rates, choosing price oracles, customizing the interface design, and integrating advanced trading tools. Eventually, they are able to offer trading pairs that are not available on the Hyperliquid DEX. The fees generated are split 50/50 between the platform and Hyperliquid.

The Trade XYZ’s perps track traditional (non-crypto) assets, are cash-settled, and use funding payments to stay aligned with the underlying price. They follow the same trading mechanics as standard Hyperliquid perps, including leverage, collateral management, and order types.

Users can trade crypto perpetuals through a dedicated margin account built for Hyperliquid-native perps. XYZ Trade equity perps via a separate margin account with fully isolated balances. Spot assets are held in a default account that remains separate and cannot be used as collateral for perpetual trading.

The platform provides three market types for seamless trading:

• Hyperliquid Crypto Perpetuals:  Users can trade crypto perpetual futures with leverage using a dedicated margin account designed for high-performance perpetual trading;
   
• XYZ Equity Perpetuals: Trade perpetual futures that track traditional (non-crypto) assets, with isolated balances and the same mechanics as crypto perps. It is the platform behind the launch of silver and gold perps on Hyperliquid, which led to a massive volume surge of TradFi perps on Hyperliquid in Jan 2026;
   
• Crypto Spot Assets: Buy and hold spot cryptocurrencies in a separate account, without leverage and without using these assets as collateral for perps.

Read more about the Trade.xyz Hyperliquid features in its docs.

🪙 Trade xyz token: As of December 2025, the project has not announced any plans to launch its own token. However, protocols of this type often introduce a token later and reward early users, which is why we prepared a comprehensive guide on how to qualify for a potential airdrop.
 

Considering the potentially upcoming Trade xyz airdrop, our team conducted a comprehensive research on Trade xyz, finding some of its pros and cons:
 

✅ Trade xyz pros:

• Almost $58B in cumulative trading volume;
• Has a reputable partner (Hyperliquid); 
• Above the average PR performance.
   

❌ Trade xyz cons: 

• No info about its token;
• Below the average SEO, SMM, Marketing Infrastructure, Influencer Marketing, and Growth Marketing score;
• No publicly available info about backers;
• No public Security audits;
• The team is anonymous.