Ventuals (HIP-3 dex 'vntl'), sunset
The former pre-IPO and index perp dex on Hyperliquid has shut. Here are the settlement prices, how to recover vHYPE and leftover USDH, and why any Ventuals token claim is fake.
Ventuals is shut down. It announced its sunset on June 15, 2026, settled its OpenAI and Anthropic perps at 24-hour mark TWAPs of $1,341.80 and $1,618.90, and halted the rest by June 18. On November 4, 2026, Hyperliquid's API showed all 15 'vntl' markets delisted. Ventuals says there will be no Ventuals token.
- What
- HIP-3 perp dex
- Runs on
- HyperCore
- Official site
- ventuals.com
- TVL on Hyperliquid
- $354K -14.3% 7d · #46 on Hyperliquid L1
- Fees
- Historical only: the Ventuals front end charged a 1-5 bps builder fee on top of HIP-3 fees; Ventuals says it never charged fees on vHYPE. All markets are now delisted.
Checked against Ventuals's own site on November 4, 2026. Bookmark these instead of using search ads.
Status: sunset
Ventuals ran the HIP-3 dex vntl on Hyperliquid. HIP-3 lets anyone who stakes 500,000 HYPE deploy their own perpetual-futures markets on HyperCore, Hyperliquid’s trading engine. Ventuals used it for pre-IPO perps (SpaceX, OpenAI, Anthropic), thematic index perps and commodities, all margined and settled in the USDH stablecoin.
On June 15, 2026, Ventuals announced it was sunsetting. Its sunset guide sets out the halts:
| Market | Settlement | Halted |
|---|---|---|
| OPENAI | $1,341.80 (24h mark TWAP) | 10:30am ET, June 15, 2026 |
| ANTHROPIC | $1,618.90 (24h mark TWAP) | 11:30am ET, June 15, 2026 |
| SOY, WHEAT (commodities) | per sunset guide | June 18, 2026 |
| MAG7, SEMIS, ROBOT, INFOTECH, NUCLEAR, DEFENSE, ENERGY, BIOTECH (indices) | per sunset guide | June 18, 2026 |
The two pre-IPO TWAPs used 5-minute mark samples between 9:30am ET on June 14 and 9:30am ET on June 15. Ventuals explained the TWAP method by noting these markets had “no realtime external reference price.”
On November 4, 2026, Hyperliquid’s info API showed all 15 vntl assets delisted: SPACEX, OPENAI, ANTHROPIC, MAG7, SEMIS, ROBOT, INFOTECH, NUCLEAR, DEFENSE, ENERGY, BIOTECH, GOLDJM, SILVERJM, WHEAT and SOY. The sunset guide’s halt schedules don’t name SPACEX, GOLDJM or SILVERJM, and we couldn’t confirm how those three settled.
What holders should do now
Open positions were settled automatically at the published prices. What may still be left is collateral and staked HYPE:
- Check your Hyperliquid account. Look up your address on the official explorer or HypurrScan to see any remaining balance.
- Withdraw vHYPE. vHYPE was Ventuals’ liquid-staking token, used to raise its 500k HYPE HIP-3 stake. Withdrawals at 1:1 plus staking yield started batch processing on June 19, 2026 and become claimable after about 7.5 days, at app.ventuals.com/vhype. The HYPE comes back to your HyperCore spot account.
- Convert leftover USDH. Ventuals asks users to swap USDH to USDC on the HyperCore USDH/USDC order book, or use Across to bridge HyperEVM USDH to HyperCore USDC, and points to usdh.com/migration. USDH itself is being wound down; see Native Markets / USDH for Bridge’s at-par redemption, which needs KYC.
- Export an email-login wallet. If you signed in by email, Ventuals’ sunset page explains how to export your Privy wallet.
Act soon. Ventuals only promised to keep its sunset page up “at least until September 15, 2026”, so it may disappear without notice.
No token, no airdrop
Ventuals’ sunset guide says its points were discontinued, have no monetary value, and that “There will be no Ventuals token.” Its referral program ended too, and the final referral payout has been made. Any “Ventuals airdrop” or “claim” site contradicts Ventuals’ own statement. Don’t connect a wallet to one. Check addresses against official links.
What it cost, for the record
The Ventuals front end charged a 1-5 bps builder fee (an extra per-fill charge an app adds on Hyperliquid). Index markets ran growth mode (90% lower all-in fees), while pre-IPO markets used the standard HIP-3 tier. Because USDH counted as an aligned quote asset, traders got 20% lower taker fees and 50% better maker rebates. Ventuals says it never charged fees on vHYPE, whose contracts were audited by Nethermind and Zenith.
Risks that still apply
- Phishing. Shut-down projects attract fake claim pages. Ventuals has said there will be no token.
- USDH discount. Selling USDH on the thin Hyperliquid book can mean taking less than $1; Bridge redeems at par but needs KYC.
- Disappearing tools. The sunset and vHYPE pages could go offline.
Alternatives
For pre-IPO perps today, Entropy lists OpenAI and Anthropic perps and trade[XYZ] lists its own pre-IPO markets. Paragon covers index-style narratives. All are leveraged and carry the pricing risks of markets without a public underlying; read perpetual futures explained. Felix Exchange, another USDH-margined HIP-3 dex, has also been settled and delisted.
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.
Questions people ask
Is Ventuals still live?
No. Ventuals announced its sunset on June 15, 2026, halted its markets between June 15 and June 18, 2026, and on November 4, 2026 Hyperliquid's info API showed all 15 vntl markets as delisted. New trading is not possible.
What prices did Ventuals' OpenAI and Anthropic perps settle at?
OPENAI settled at a 24-hour mark TWAP of $1,341.80 and ANTHROPIC at $1,618.90, both halted on June 15, 2026 (10:30am and 11:30am ET). The TWAPs used 5-minute mark samples from 9:30am ET June 14 to 9:30am ET June 15.
Will there be a Ventuals token or airdrop?
No. Ventuals' sunset guide says points have no monetary value and 'There will be no Ventuals token.' Any site offering a Ventuals token claim or airdrop contradicts Ventuals' own statement.
How do I get my HYPE back from vHYPE?
Ventuals began processing vHYPE withdrawals at 1:1 plus staking yield in batches from June 19, 2026, claimable after about 7.5 days, at app.ventuals.com/vhype. The HYPE returns to your HyperCore spot account. Ventuals only promised the sunset page until at least September 15, 2026.
What do I do with leftover USDH from Ventuals?
Ventuals markets were margined in USDH, which is itself being wound down. Ventuals points users to sell USDH for USDC on the HyperCore USDH/USDC book or use the Across bridge; Bridge, the issuer, also redeems USDH at par after KYC through redeem.bridge.xyz.