Hyperbeat: Hyperliquid Yield Vaults, beHYPE Staking and Hyperbeat Pay Explained

Hyperbeat's documentation describes Hyperbeat Labs as "the core contributor" and says the founders started as early Hyperliquid users ¹². The docs don't publish individual names, a registered company, a jurisdiction or Terms of Service; the Legal page in the docs is empty as of October 23, 2026. In August 2025, CoinDesk reported a $5.2 million seed round led by ether.fi Ventures and Electric Capital, with Coinbase Ventures, Anchorage Digital and others participating ¹⁰. beHYPE is co-branded with ether.fi ¹.

Each Earn vault is a token you receive for a deposit. Its value rises against the underlying asset as the strategy earns:

1. Deposit. You deposit an asset, such as USDC or HYPE, from your wallet on HyperEVM and receive a vault token (hbUSDC, hbHYPE) ⁴⁵.
2. Strategist deploys funds. Each vault names who runs it. For hbUSDC, Hyperbeat Core is the strategist and RockawayX provides risk oversight. Funds go to HyperEVM protocols and to basis trades on HyperCore via dnTokens ⁴. For hbHYPE, the strategist is Edge UltraYield Capital and the vault runs on August's infrastructure, aiming for market-neutral positions with directional exposure hedged ⁵.
3. Yield accrues in the exchange rate. Instead of paying out rewards, the vault token's redemption value grows. The hbUSDC docs give an example rate of 1 hbUSDC = 1.027293 USDC ⁴.
4. Redeem. Standard withdrawals are processed over a waiting period. The hbHYPE page says three working days ⁵. The hbUSDC page says both "within 2 days" and "three working days," so allow up to three ⁴. hbUSDC also offers Instant Redemption for a 0.5% fee, subject to available liquidity ⁴.

Hyperbeat publishes proof-of-solvency pages for vaults such as hbUSDC ⁴. Background: what yield farming is.

Hyperbeat Earn charges fees per vault rather than one platform rate. As of October 23, 2026 ⁴⁵:

A performance fee is a share of the profit the vault earns, not of your deposit. Management fees aren't stated for these vaults. HyperEVM gas applies to each transaction. Check each vault's page before depositing, because terms differ between vaults.

• beHYPE (liquid staking). You stake HYPE and receive beHYPE, which keeps earning staking rewards while you use it in DeFi. HYPE is delegated equally across the active validator set. beHYPE has been audited by Nethermind, Certora and Pashov ⁷. See liquid staking.
• Morphobeat. Lending supply vaults built on Morpho and run by curators including MEV Capital, Re7, Gauntlet and Hyperithm ³. See the Morpho & Euler curator ratings.
• Delta-neutral tokens. dnHYPE, dnBTC, dnETH and similar tokens hold hedged positions designed to earn funding without price exposure ³.
• Hyperbeat Pay. A virtual or physical Visa card with "Direct Pay" or "Credit" modes, linked to Hyperliquid and Hyperbeat balances ⁸. The docs don't name the card issuer, fees or eligible countries. Background: how crypto cards work.
• Infrastructure. A Hyperliquid mainnet validator run with P2P.org, a staking API and a public RPC node ¹³.

• Layered smart-contract risk. Earn vaults use partner infrastructure (August Digital, Midas, Morpho) as well as Hyperbeat contracts. Hyperbeat says each partner has been audited ⁶. hbUSDC lists audits by Hacken and Sherlock, and hbHYPE lists Zellic, Sigma Prime and ChainSecurity ⁴⁵. An audit doesn't guarantee against loss.
• Strategy and counterparty risk. Named external strategists make allocation decisions. Basis trades and liquidity provision can lose money, including through impermanent loss, which Hyperbeat's vault pages flag ⁴⁵.
• Liquidity and timing. Standard exits wait days. Instant exits cost a fee and depend on available liquidity ⁴.
• Single-ecosystem concentration. Every product depends on Hyperliquid's chain and markets.
• No published terms. With no legal entity or Terms in the docs, it's unclear which body users contract with or which jurisdictions are restricted.

No exploit involving Hyperbeat was found in the sources reviewed for this profile.