Is HyperLend an Aave fork?

Yes. HyperLend's docs describe it as a friendly fork of Aave v3.6, recognized by Aave governance, with its code published at github.com/hyperlendx/hyperlend-core.

What fees does HyperLend charge?

There are no deposit or withdrawal fees. The protocol keeps a reserve factor on borrower interest (20% for most assets), takes a share of liquidation bonuses, and charges 0.04% on flash loans.

When does a HyperLend position get liquidated?

When its health factor drops below 1. Positions with under $2,000 of debt, or with a health factor below 0.95, can be fully liquidated; larger positions between 0.95 and 1 can be 50% liquidated. The penalty depends on the collateral asset.

Why can't I withdraw from HyperLend?

The app blocks withdrawals that would push your health factor below 1.25 (1.06 in E-mode). Withdrawals can also wait if an asset is fully borrowed, because the cash is out on loan.

Are HyperLend points still running?

No. HyperLend's official points season ran from March 24, 2025 to October 22, 2025.

HyperLend (2026): HyperEVM Lending, Fees, Liquidations and Risks

At a glance Live

What: Lending
Runs on: HyperEVM
Official site: hyperlend.finance
Docs: docs.hyperlend.finance
X: @hyperlendx
TVL on Hyperliquid: $334M +4.3% 7d · #3 on Hyperliquid L1
Fees, last 30 days: $452K
Fees: No deposit or withdrawal fees. Reserve factor of about 20% of borrower interest on most assets (per-asset values in the app), a treasury share of liquidation bonuses, and 0.04% on flash loans.

Official links

Checked against HyperLend's own site on November 4, 2026. Bookmark these instead of using search ads.

TVL by product (DefiLlama)

HyperLend Pooled	Lending	$334M
HyperLend Isolated	Lending	$169K

What HyperLend is

HyperLend is a lending protocol on HyperEVM, Hyperliquid’s smart-contract chain. You supply an asset to earn variable interest from borrowers, or post collateral and borrow against it. Its docs call it a friendly fork of Aave v3.6, recognized by Aave governance, so it works the way Aave does: you receive hTokens for what you supply, rates move with utilization, and loans are kept safe by liquidations rather than by a lender approving you.

It has two kinds of market:

Core Pools hold many assets in one pool. Listed assets include wHYPE, kHYPE, wstHYPE, beHYPE, UBTC, UETH, USOL, USDC, USDT0, USDe, sUSDe, USDH and Pendle PT tokens. E-mode gives a higher loan-to-value for correlated pairs, such as HYPE against a HYPE staking token.
Isolated Pools have exactly one collateral and one borrow asset, so trouble in one pair stays in that pair.

Prices come from Chainlink and RedStone, with RedStone OEV feeds used for liquidations. Block Analitica sets risk parameters and Hypernative monitors the protocol around the clock. HyperLend’s token, HPL, exists on both HyperCore and HyperEVM; staking it gives sHPL, with no lock-up.

What it costs

Item	Documented fee
Deposit and withdraw	Free (you pay HyperEVM gas in HYPE)
Borrowing	Variable rate set by utilization
Reserve factor	About 20% of borrower interest on most assets; per-asset values in the app
Liquidation	Penalty varies by collateral; part of the bonus goes to the treasury
Flash loans	0.04%

sHPL stakers get rebates on borrow interest: the borrow side only counts above 10,000 HPL staked, the rebate is capped at 80%, and you can claim weekly once at least $0.10 has built up. The points season ran from March 24 to October 22, 2025 and has ended.

How to use it

Get assets such as HYPE, USDC, USDT0 or kHYPE onto HyperEVM. HYPE on HyperCore moves over with “Transfer to EVM” in the Hyperliquid app.
Open app.hyperlend.finance and connect your wallet.
Supply an asset to start earning. To borrow, enable it as collateral and borrow another asset; turn on E-mode for correlated pairs.
Watch your health factor, a score of how well your collateral covers your debt; below 1 you can be liquidated. The docs suggest keeping it above 2.
Repay or withdraw at any time, subject to available liquidity.

Risks

Liquidation. Below a health factor of 1, liquidators repay part of your debt and take your collateral plus a penalty. Positions with under $2,000 of debt, or a health factor below 0.95, can be liquidated in full; larger ones between 0.95 and 1, by half.
Shared pool risk. HyperLend’s own docs warn that if one Core Pool asset fails, for example through market manipulation or an infinite-mint exploit, “the entire pool is at risk.”
Bad debt if collateral falls faster than it can be sold.
Oracles and bridging. A wrong price can trigger unfair liquidations. Liquidators can bridge collateral to HyperCore to sell it, which adds bridge and timing risk.
Withdrawal limits. Rates can spike when an asset is fully borrowed, and you can’t withdraw cash that is out on loan. The app also blocks withdrawals that would push your health factor below 1.25 (1.06 in E-mode).
Admin control. Upgrades and parameters run through a governance multisig with timelocks, plus an emergency-admin multisig.

Audits: Pashov Audit Group (January 2025, plus an oracle review in November 2025), a Cantina competition (January 2025), Ackee Blockchain (March 2025), Nethermind (April 2026) and CD Security (February and April 2026). The reports are on the audits and risk page and in HyperLend’s GitHub, and a bug bounty is published there too.

Who it suits, and alternatives

HyperLend suits people who want a familiar Aave-style market for supplying stablecoins or borrowing against HYPE and HYPE staking tokens such as Kinetiq’s kHYPE or Valantis stHYPE. Felix takes a different approach: a feUSD stablecoin you mint at a rate you choose, plus isolated markets built on Morpho. See HyperLend vs Felix for the side-by-side, or HypurrFi for another HyperEVM lender.

Live figures: DefiLlama (TVL on the Hyperliquid L1 chain; fees on Hyperliquid), refreshed 2026-11-04 10:16 UTC. We don't rank by who pays us. How we check facts.

HyperLend