The memo
REJECTED. Hyper Unit lets a user deposit native BTC, ETH, SOL, and other assets from their home chain and mints a matching balance on Hyperliquid, distinct from the separately-reviewed Hyperliquid Bridge (the Arbitrum-to-HyperCore USDC path). Custody runs through a "Guardian Network" using MPC/threshold-signature cryptography rather than a conventional multisig, but the network is reported to have only three total operators with a 2-of-3 signing threshold — a smaller, more concentrated trust set than the already-rejected Hyperliquid Bridge's 27-validator set. Cryptographic sophistication does not offset having only three parties, any two of whom can move funds, and no independent, Unit-specific security audit was confirmed.
What would reopen the file
- Guardian count expands materially, for example to seven or more, with published, named operator identities
- An independent, Unit-specific security audit, not the general Hyperliquid L1 audit, is published with no critical findings outstanding
- Withdrawal timing and dispute or challenge mechanics are independently confirmed and pass a proposed-size stressed-exit test
- Twelve consecutive months with no Guardian-key or MPC-ceremony compromise
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Ethereum
- Memo version
- v1
- Reviewed
- Next review