What is Hyperliquid?

Stub article — full content coming soon.

Hyperliquid is a decentralized perpetual-futures exchange running on its own Layer-1 blockchain. Traders open leveraged long/short positions on an on-chain order book with sub-second finality.

Why it matters for smart-money tracking

Because positions and fills are on-chain, anyone can observe what the best traders are doing in near real time. That transparency is what powers the smart-money flow view in the dashboard.