Hypernova, a proprietary cryptocurrency trading platform built on Hyperliquid, has raised $3 million in an oversubscribed pre-seed round to expand its funded trading operations and prepare for a public launch.
Funding round details
The round was led by crypto-focused firm Lemniscap, with participation from Very Early Ventures, CMS Holdings, and Pivot Global.
Additional capital came from several angels connected to the Hyperliquid ecosystem, including:
- Maximilian Fiege of Native Markets
- “Ericonomic” of Kinetiq
- “Huf” of Pear Protocol
- A group of founders under the HypurrCollective
These backers participated through their onchain investment group on Echo, the capital-raising platform recently acquired in a $375 million deal.
Hypernova’s co-founder and CEO Bayramov said fundraising began when the company was founded in September and closed in mid-October. The pre-seed was structured as a simple agreement for future equity with token warrants and was oversubscribed by about three times. Following the investment, Lemniscap took a board observer seat.
Capital deployment and launch plans
Hypernova plans to allocate:
- $1 million to a dedicated payout reserve for performance rewards to funded traders
- $2 million to hiring and operational costs tied to its planned public launch in the coming months
The firm currently employs seven people in London and expects to add a quantitative researcher and a developer in the next quarter.
How the platform works
Hypernova operates as a “trustless” proprietary trading firm on Hyperliquid, using smart contracts to automate onchain settlement and instant payouts. This design is meant to replace the manual, often delayed payout processes seen in traditional retail-focused prop firms.
According to Bayramov, Hypernova segments participants based on performance and data quality:
- Stronger performers may have their trades routed to the external market
- Less-proven participants remain within in-house execution models, limiting the firm’s balance sheet exposure
This tiered structure is positioned as a core risk-management mechanism, with early performance data determining whether a trader’s strategies are replicated with the firm’s capital.
Early traction and revenue model
Hypernova launched its closed alpha on May 1. So far, the platform has:
- Onboarded 250 traders
- Funded more than 20 of them
- Paid out over $30,000
Current revenue comes from “assessment” fees that participants pay to qualify for funded accounts.
Over time, the company expects to earn additional income by executing trades alongside its top-performing traders, effectively aligning its own profitability with the success and consistency of those participants. It also plans to introduce more product lines to diversify revenue.
The $1 million payout reserve is intended as a transparent pool earmarked for performance-based rewards. The pace at which these funds are distributed after public launch is likely to be viewed as an indicator of platform health and trader success.
Positioning within the Hyperliquid and defi ecosystem
Hypernova is built natively on Hyperliquid, a decentralized perpetuals platform that:
- Processes about $172.63 billion in 30-day perpetuals trading volume
- Holds roughly 31.9% share of the decentralized perpetual exchange market
- Has surpassed $4.4 trillion in cumulative trading volume
The oversubscribed round, led by a long-standing backer in the ecosystem, signals confidence in specialized applications developed directly on the Hyperliquid network rather than on generalized infrastructure.
The launch comes as decentralized finance derivatives volumes hit record levels, with sector-wide derivatives trading reaching $6.18 trillion in March 2026. Hypernova’s promise of automated, onchain, and immediate payouts will be closely watched during periods of heightened volatility, when execution and settlement systems face the most stress.
Industry context and competition
In the proprietary crypto trading segment, Hypernova competes with firms such as Breakout, HyperPnL, Propr, and Upscale Trade. A key friction point across the industry is payout reliability: some estimates suggest only around 7% of those who begin an evaluation at retail prop firms ever receive compensation, often after delays and disputes.
Hypernova’s smart contract-based settlement system is designed to address this gap by offering immediate, programmable payouts and minimizing manual intervention.
Team and technical focus
The founding team brings prior experience from both traditional finance and digital assets:
- CEO Bayramov previously led decentralized finance investments at RockawayX
- Co-founder and CTO Bakhshaliyev worked as a senior engineer at Coinbase and Citi
The planned hires in quantitative research and development underscore a focus on data-driven selection of profitable traders and on maintaining robust infrastructure. Those capabilities will be tested as the platform moves from a limited alpha to full public rollout.
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