trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States. In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch. We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress. ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid. Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it. ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one. We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them. To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story. Anything. Anytime. On ICE[XYZ].

TIP-1 Fee Tiers are live Trading fees will stack 14-day volume based tiers and TREAD holdings. Additionally, trading TREAD/USDC pairs will have 0 builder fees. Deposit TREAD to your Tread UOA Wallet or link a holding wallet to get started. docs.tread.fi/account-creati…

TIP-1 Fee Tiers As a part of changes for TIP-1, the following fee tiers will be applicable for all retail and institutional clients on exchanges where applicable. TREAD based discounts 1,000 TREAD - 10% 10,000 TREAD - 25% 100,000 TREAD - 50% 1,000,000 TREAD - 100% Volume based fee tiers $0 - 2.5bps $1M - 2bps $5M - 1.75bps $10M - 1.5bps $50M - 1.25bps $100M - 1bps The documentation on docs.tread.fi will be updated when the fee tiers go live next week.