{"document_id":"BLC-STUDY-0602","slug":"hyperliquid-l1","title":"Hyperliquid L1 and on-chain order book","authors":"Hyperliquid","year":2024,"date_label":"2024","publisher":"Hyperliquid","paper_type":"Design paper","category":"Markets","topics":["Markets"],"source_url":"https://hyperliquid.gitbook.io/hyperliquid-docs","source_label":"Hyperliquid docs","legacy_pdf_path":null,"sha256":null,"sha256_note":"No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.","version":"Source cited by the 2024 study. The study is the reading. This page does not add a second essay.","doi":null,"rights_status":"Official external source only","source_status":"Official source","use_status":"Metadata and commentary only. The reading is the study page.","licence":null,"licence_label":"No licence recorded. Rights status under review.","full_text":null,"full_text_reason":"Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.","repository":null,"editorial_line":"Hyperliquid publishes a chain whose purpose is an on-chain order book and perps matching, with consensus serving that book rather than a general contract platform first.","canonical_url":"https://blockchainlab.com/whitepaper/hyperliquid-l1","record_url":"https://blockchainlab.com/research/corpus/papers/hyperliquid-l1","study_url":"https://blockchainlab.com/whitepaper/hyperliquid-l1","last_reviewed":"2026-10-01","last_checked":"2026-10-01","relationships":[{"rel":"Canonical reading","label":"Hyperliquid study","href":"/whitepaper/hyperliquid-l1"},{"rel":"Related paper","label":"GMX","href":"/whitepaper/gmx-v1"},{"rel":"Related paper","label":"Everlasting options","href":"/whitepaper/perps-everlasting"},{"rel":"Related paper","label":"Sei","href":"/whitepaper/sei-architecture"}]}