Hyperliquid announces new fee discount system and account linking capabilities for May 5th

Hyperliquid will adopt a new system to calculate fees on the platform. This includes not only individual fee schedules for permanent contracts and spot transactions, but also various tiers for staking.

In a recent post, the Decentralized Exchange announced that it will begin implementing a new pricing system and staking tier from 03:00 UTC on May 5th. The new pricing system includes lower trading fees when users bet on the platform’s utility token, the hype.

Based on the staking tier, users are eligible for transaction fee discounts ranging from 5% to 40%. As it is divided into six staking layers, the discount is determined by the amount of hype. For example, the lowest tier known as “wood” requires a minimum of 10 hype. Wood betting users can receive a 5% discount on the trading fee.

Meanwhile, top tiers such as “Platinum” and “Diamond” offer up to 40% discounts if users bet hype over 100,000 and 500,000.

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Additionally, Hyperliquid will begin introducing separate fee standards for permanent contracts and spot trading. A permanent contract and spot volume are added together to determine the price tier of the user. Not only that, the spot volume is counted as twice that amount to calculate the rate tier.

Another new feature introduced with this update is that users can link staking and trading accounts on the testnet. This allows users to use the staking discount received from one account and apply it to another trading account.

According to BlogPost, linked staking accounts will have full access to the funds in users’ trading accounts. Staking users will not receive staking-related fee discounts once they are linked. Linking accounts is permanent and when two accounts are linked they are not linked.

Hyperliquid said the account linking feature is expected to be up and running immediately after the introduction of the pricing system and staking layer.

Last month, Hyperliquid scrapped the permanent jelly contract from the platform after experiencing a $10.63 million loss as the token price suddenly surged 230%. The high lipid team suspected that the market manipulation was behind the sudden spikes of the token.

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