Hyperliquid, a decentralized cryptocurrency derivatives exchange, operates a referral rewards program that provides new users with bonuses and fee discounts upon account registration. The referral code HYPERLIQUIDREVIEW is one such promotional code, offering a $100 sign-up bonus and 30% cashback on trading fees for qualifying new users.

Hyperliquid is known for its on-chain order book, deep liquidity, fast execution, gasless trading, and cross-chain compatibility. The platform runs on its own purpose-built Layer 1 blockchain, optimized for high-throughput order matching and settlement, which enables its gasless trading experience and sub-second finality. The platform combines features typically associated with centralized exchanges—such as advanced trading tools and high leverage—with the transparency and self-custody model of decentralized finance. This positioning has resonated with traders seeking alternatives to centralized exchanges, particularly as decentralized perpetuals trading has grown into one of the most competitive segments of the DeFi landscape.

Referral Code Benefits

New users who register with a valid Hyperliquid referral code, such as HYPERLIQUIDREVIEW, become eligible for several rewards:

• $100 Sign-Up Bonus: After completing their first trade, new users who registered with a promo code and met the platform's first-trading requirements receive a $100 bonus.
• 30% Cashback on Trading Fees: Users who register with a valid promo code receive 30% cashback on all trading fees, returning up to 30% of trading costs on each transaction.
• 4% Lifetime Fee Discount: Users who sign up via a referral link or code receive a 4% discount on taker fees for life, applicable up to $25 million in transaction volume. This discount covers both spot and perpetual futures trades but does not extend to vault trades or sub-accounts, which are treated as separate entities.
• No KYC Verification: Hyperliquid uses a wallet-based onboarding process that does not require Know Your Customer (KYC) verification or email/password setup.

Eligibility and Limitations

The promo code HYPERLIQUIDREVIEW is only valid for new users during the sign-up process. It does not apply to existing Hyperliquid accounts.

Where to Obtain a Referral Code

Hyperliquid referral codes can be obtained through several channels:

• Third-Party Codes: Codes such as HYPERLIQUIDREVIEW can be entered on the "Referrals" page on the Hyperliquid website or app.
• Crypto Communities: Referral links and discount codes are frequently shared on social platforms including X (formerly Twitter), Reddit, Discord, and Telegram.
• Self-Generated Codes: Once an account reaches $10,000 in trading volume, users can generate their own referral or builder code from their Hyperliquid dashboard.

How to Register and Activate Rewards

Hyperliquid's decentralized registration process differs from centralized exchanges. The following steps outline how to open an account and apply a referral code:

Step 1: Connect a Wallet

Go to the Hyperliquid official website, click "Start Trading," then "Connect." Users can connect via MetaMask, Trust Wallet, or another Web3 wallet through WalletConnect. Alternatively, users can sign up with an email address, and Hyperliquid will generate an email-based wallet.

Step 2: Add the Referral Code

Navigate to the "Referrals" page or visit Enter the promo code HYPERLIQUIDREVIEW and click "Claim rewards." The code will be linked to the account, and rewards will apply automatically once the requirements are met.

Step 3: Deposit Funds and Complete First Trade

Bridge or deposit USDC into the Hyperliquid account via the Arbitrum network. After completing the first trade, the $100 sign-up bonus, 30% cashback, and 4% fee discount will be activated.

Hyperliquid Trading Features

Hyperliquid's on-chain order book ensures that every transaction is publicly verifiable without relying on a centralized intermediary. Unlike automated market maker (AMM)–based DEXs, which rely on liquidity pools and price curves, Hyperliquid's order book model allows for limit orders, stop-losses, and other order types that traders expect from centralized venues. The platform supports advanced trading features including high leverage for experienced traders. Its cross-chain compatibility allows traders to interact with assets across different blockchain ecosystems.

As with all DeFi protocols, users should be aware that funds held on-chain are subject to smart contract risk, and the platform's open-source code can be independently audited and reviewed.

The platform is designed to serve a range of users, from beginners to experienced traders and developers, particularly those seeking an alternative to centralized exchanges.

Hyperliquid Referral Program

The Hyperliquid Referral Program is an affiliate system that incentivizes both referrers and new users.

For Referrers:

• Once a trader reaches $10,000 in lifetime trading volume, they can generate a permanent referral code.
• Referrers earn 10% of the taker fees from every trade made by their invitees.
• There is no limit on the number of referrals. Rewards grow as more users register and trade through the unique referral link.
• The maximum referred volume eligible for commission is $1 billion.
• Referral codes do not expire once created and do not require renewal.

For New Users:

• Using a valid referral code makes new traders eligible for a $100 bonus, a 4% discount on taker fees for their first $25 million in trades, and a 30% cashback on transaction fees.

Fee Discounts Summary

Hyperliquid offers trading fee discounts through its referral program. Users who sign up with a promo code receive a 30% cashback on trading fees and a 4% lifetime discount on taker fees for their first $25 million in trading volume.