The memo
REJECTED. The current Hyperliquid interface terms classify United States persons as Restricted Persons, which is a categorical bar for this US-advisor mandate. Spot trading also does not create protocol yield: the worklist TVL is inventory and balances held on HyperCore, with each token carrying issuer and market risk plus Hyperliquid validator, bridge, and order-book dependencies. Direct protocol calls or an alternate interface do not turn a restricted client into an eligible one.
What would reopen the file
- Hyperliquid publishes terms permitting this registry's United States client population to use spot services
- The exact spot asset receives an approved asset-control profile and its issuer and transfer restrictions remain eligible
- A proposed-size native withdrawal completes through a documented bridge without an unreviewed third-party operator
- Any validator intervention that changes a spot settlement or any bridge loss opens an immediate review
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Hyperliquid L1
- Memo version
- v1
- Reviewed
- Next review