limUSD

limUSD is the USD expression of Hyperliquid's Native Yield: a single, yield-bearing token that continuously captures yield wherever it is most efficiently produced across Hyperliquid's yield sources. It dynamically allocates capital to get the best risk-adjusted yield across funding rates, staking, money market yield and upcoming new primitives.

limUSD is a yield-bearing token: the yield is embedded directly in its price. Starting at $1, its value increases over time as the underlying yield is captured. Simply hold limUSD to earn. No staking, no claiming, no action required.

limUSD dynamically allocates capital across all of Hyperliquid's yield sources to always capture the most efficient yield available. Funding rates: through delta-neutral strategies that capture funding payments from Hyperliquid's perpetual markets, without directional market exposure. xHYPE's spot leg is partially allocated to kHYPE, Kinetiq's LST, stacking staking rewards on top of funding rates. This approach will be extended to other xTokens when possible. Money market yield: by allocating across Morpho, HyperLend, HypurrFi, Felix and Hyperliquid's BLP, automatically routing capital toward the best available lending rate. As Hyperliquid expands, so does limUSD's opportunity set, with strategies on TradFi assets through HIP-3 and options through HIP-4 set to broaden the yield surface further.

On limUSD's vault page, the Analytics section provides performance metrics and historical charts for token price, APY, and DeFi integrations. The token price chart reflects cumulative yield over time and increases as the underlying strategies generate returns. APY is shown as an annualized figure based on historical yield over the selected time range, net of fees.

Liminal vaults are audited by top-tier security firms and rely on robust onchain and market infrastructure. However, smart contract and infrastructure risks can never be fully eliminated. These components are designed with multiple safeguards, including independent smart contract audits, institutional-grade custody, and monitored oracle systems. For a detailed breakdown of risks and mitigations, see the Security & Risk section in the documentation. Independent audit reports are also available in the docs.

limUSD is natively available on HyperEVM, Ethereum, Arbitrum and soon Solana. Regardless of which chain you mint and hold limUSD on, the underlying strategy always runs on Hyperliquid. You earn Hyperliquid's native yield directly from your preferred chain, without ever needing to interact with Hyperliquid yourself.

You can mint limUSD using stablecoins such as USDC, USDH, USDT and USDT0 from your Hyperliquid balance, HyperEVM, Ethereum and Arbitrum. Your deposit is converted at the current Price Per Share (PPS), and you receive your limUSD tokens on the selected chain.

Liminal does not charge any protocol fees to mint limUSD. You only pay the standard network fees (gas) required to submit the transaction on the chain you are using.

As a yield-bearing token, limUSD is designed to be used as productive collateral across the DeFi stack. Provide liquidity on AMMs to earn swap fees, borrow stablecoins against it on money markets and split the yield via Pendle: lock in fixed returns with PTs or trade underlying yield with YTs.

limUSD's underlying strategy continues accruing yield regardless of where your tokens are deployed across AMMs, money markets and yield derivatives venues.