Designed in 2 weeks, traded $3B in its first four months.
Design a brand-new perpetuals exchange from scratch, on a brand-new framework, with no precedent in the category — in two weeks. Then keep iterating as real volume started flowing through.
Two weeks to design an exchange for two very different traders, on a framework nobody had built on yet.
Kinetiq was already the dominant liquid-staking protocol on Hyperliquid. The next move was bigger: the first major venue on HIP-3, where BTC, the S&P 500, FX and single-name equities trade 24/7 on the same screen, for perp veterans and RWA-curious newcomers alike.
Research showed the leading exchanges share roughly 90% of their interface, so we kept the trading flow familiar and spent our novelty where it earned something: an asset selector that makes two very different asset classes feel equally at home. Must-haves shipped at launch; the rest rolled in weekly.
- Research sprint competitor teardowns, benchmarks, trader interviews
- Trading view chart, order book and order entry
- Asset selector crypto perps, market perps and spot
- Activity overview balances, positions, orders, history
- Launch roadmap must-have and nice-to-have per screen
- Engineering handoff specs, states and components
What we achieved
Figures reported by the client after launch.Over $3 billion traded in the first four months.
Kickoff to design handoff, research and testing included.
One of the most active HIP-3 venues on Hyperliquid.
Both sides of the intended audience showed up from launch.
Traders didn’t have to learn a new way to trade. They only had to learn what was newly tradeable.
What the volume number doesn’t capture is the composition: a healthy split between perps and spot trading from launch onward, which suggests both sides of the intended audience showed up — and stayed. Over $3B in notional in the first four months, one of the most active HIP-3 venues on Hyperliquid, and a meaningful contributor to Kinetiq’s protocol revenue.