Hyperliquid’s yield protocol Hyperwave will shut down on December 16

Hyperwave—the yield protocol on the Hyperliquid platform—has issued an official statement announcing the initiation of an orderly shutdown process due to persistently rising operational costs and regulatory uncertainty. The protocol will officially cease operations on December 16. To safeguard user interests, the team strongly urges all users to withdraw their funds before this date to ensure faster and smoother withdrawal processing.

Following the shutdown, all remaining net assets in the protocol’s treasuries will be proportionally distributed back to wallets holding treasury tokens—including GWAVE. Effective immediately, all treasuries have been switched to “withdrawal-only” mode, allowing users to unstake at any time. While funds are gradually converted into underlying assets in preparation for final withdrawals, treasuries will continue generating yield as normal.

Additionally, all revenue generated prior to the protocol’s shutdown will be allocated exclusively toward repurchasing and burning HWAVE tokens.

The team reminds users to remain vigilant against phishing links and impersonation attempts that may emerge during the shutdown period. For questions or support, users are encouraged to reach out to the official team via Discord.