DeFiPunk'd

HyperLend

2 deployments · $550.8M aggregate TVL · Lending

Deployments

Each deployment is rated independently. Pick one to see its rating, risk analysis, and stage.

TVL $550.3M
Type Lending
Chain Hyperliquid L1
View on DeFiLlama ↗
Control criteria
Upgradeability Upgradeable Bug bounty Governance forum Docs docs.hyperlend.finance
About

HyperLend is a decentralized lending protocol on Hyperliquid's EVM-compatible smart contract layer (HyperEVM), enabling users to supply assets to earn interest or borrow against collateral. Launched in March 2025, it offers multiple lending pool types: Core Pools for multi-asset lending, Isolated Pools for risk-segmented markets, and support for leveraged yield strategies using Hyperliquid-native assets. The protocol combines proven Aave v3 and Fraxlend architectures with innovations tailored for the Hyperliquid ecosystem.

Risk analysis

One card per dimension, sorted by severity. Only Verifiability and Autonomy carry automated signals in Phase 0. See methodology for scope.

Audit a dimension yourself · DEFI@home Contribute an LLM-run assessment — any model, any dimension. Three agreeing runs merge automatically into the public record.

DEFI@home is a distributed audit network modeled on SETI@home: instead of CPU cycles, it crowdsources LLM reasoning. Paste a slice prompt into Claude, ChatGPT, Gemini, or any browsing-capable model, and submit the JSON output as a pull request. The quorum bot merges it once ≥3 independent runs (from different models) reach the same grade — no single model, and no single contributor, can move the needle alone. How it works →

  • Address discovery 59 addresses on file · 1 run Submit run ↗
  • Verifiability Unverified Submit run ↗
  • Control Unverified Submit run ↗
  • Ability to exit Unverified Submit run ↗
  • Autonomy Unverified Submit run ↗
  • Open Access Unverified Submit run ↗
  • Audit all 5 dimensions · one prompt Submit run ↗
  1. Verifiability tentative
    Open source + 5 audits

    Protocol publishes a GitHub repository and has at least one audit on record. This is a coarse Phase-0 signal only: auditor reputation, scope, and post-audit review coverage are not yet weighted.

    Run your own prompt Submit run ↗
4 dimensions not yet assessed (Control, Ability to exit, Autonomy, Open Access)
  1. Control unknown Unverified
    Not yet assessed

    Who holds admin privileges, how contracts can be upgraded, and how quickly. No automated heuristic grades this at Phase 0; a real assessment arrives when onchain discovery reads roles, owners, and timelocks.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  2. Ability to exit unknown Unverified
    Not yet assessed

    Whether users can exit on their own terms if the team disappears or acts adversarially. Requires per-protocol review; not available at Phase 0.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  3. Autonomy unknown Unverified
    No Phase-0 autonomy signal

    Neither the category heuristic nor the forkedFrom signal fires for this protocol. A real autonomy graph (oracles, bridges, fallbacks, governance-mutable dependencies) arrives with Phase-2 onchain discovery.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗
  4. Open Access unknown Unverified
    Not yet assessed

    Whether the protocol depends on privileged operators, whitelists, geo-restrictions, or off-chain infrastructure. This is not a signal DeFiLlama carries in a usable form; crawler-based detection lands in a later phase.

    No model has graded this dimension yet. Run the slice prompt through any LLM and submit the JSON — once ≥3 independent runs agree, the quorum bot merges the verdict here.

    Submit run ↗

Stage

Preview of the Phase-3 maturity framework. DeFiPunk'd will adopt DeFiScan v2's stages verbatim; the section is rendered below in its intended shape so the structure is visible today.

HyperLend Pooled has not yet been assessed under the DeFiScan v2 stage framework.
The walkaway test is the central criterion. Once stages land, protocols reach Stage 1 only if users can exit in the presence of malicious operators even when the emergency council disappears.
Scope of assessment
Stages are assessed per-protocol against DeFiScan v2's criteria: governance structure, upgradeability path, timelock durations, emergency-council scope, and the walkaway test. The analysis depends on onchain discovery (roles, owners, timelocks) and deeper review of deployed contracts — neither of which DeFiPunk'd automates at Phase 0.
Stage 0 requirements pending
Governance is largely off-chain, contracts are upgradeable with short or no timelock, and the protocol depends on a multisig or team with full discretion. At Phase 0 DeFiPunk'd does not automatically evaluate these; the assessment lands with crawler-based onchain discovery.
Stage 1 requirements pending
Users can exit or opt out on their own terms even if the team disappears. Upgrades run through a meaningful timelock with an emergency security council clearly scoped. The walkaway test is the headline criterion.
Stage 2 requirements pending
Protocol is fully permissionless and immutable, or upgrades require a supermajority of token holders with a long timelock and no emergency override. This is the terminal stage of the DeFiScan v2 framework.
Learn more about DeFiScan v2 stages →
Stages are an opinionated assessment of maturity, not a rating of security or safety. A protocol can sit at Stage 2 and still carry substantial technical or economic risk; the framework exists to incentivize decentralization, not to rank protocols.

Contract surface

Every contract in scope for this protocol — pooled from DeFiLlama's TVL adapter (mechanical) and DEFI@home discovery submissions (LLM-curated). Verified-source flags come from Etherscan + Sourcify; owner / multisig metadata is read on-chain when available. Reviewer audit context, not a slice score. A lending protocol's adapter set will list third-party collateral tokens alongside its own contracts; attribution is the grader's job.

  • 59addresses
  • 0verified source
  • 0proxies

TVL adapter pinned at 683d369. Sourcecode fetched 2026-05-06. Control fetched 2026-05-06.

Hyperliquid L1ACL manager0x1091…a04adiscovery
Hyperliquid L1config engine0xee9d…fb6fdiscovery
Hyperliquid L1default interest rate strategy0xd01e…0822discoveryvault
Hyperliquid L1emergency admin multisig0xc2a0…7cacdiscoverymultisig
Hyperliquid L1emission manager0xf8f6…c2b3discovery
Hyperliquid L1executor0x1a54…6b22discovery
Hyperliquid L1governance multisig0x2110…8e9cdiscoverymultisig
Hyperliquid L1HPL token (HyperEVM)0xbd6d…c91bdiscoverytoken
Hyperliquid L1hToken (UBTC supply)0xd201…a851discovery
Hyperliquid L1hToken (UETH supply)0xdba3…c523discovery
Hyperliquid L1hToken (USDC supply)0x744e…885bdiscovery
Hyperliquid L1hToken (USDe supply)0x3338…2bd6discovery
Hyperliquid L1hToken (wHYPE supply)0x0d74…bd34discovery
Hyperliquid L1hToken (wstHYPE supply)0x0ab8…9d33discovery
Hyperliquid L1hToken implementation0x410a…a7a3discovery
Hyperliquid L1HyperLabs Ops multisig0x96f0…9691discoverymultisig
Hyperliquid L1HyperLend Foundation multisig0xf4bd…f327discoverymultisig
Hyperliquid L1looping helper0x2f5f…4913discovery
Hyperliquid L1oracle0xc9fb…630ediscoveryoracle
Hyperliquid L1pair deployer (isolated pools factory)0xd5b3…d02cdiscoveryfactory
Hyperliquid L1pair registry (isolated pools)0xf55a…718ddiscoveryfactory
Hyperliquid L1pool (core)0x00a8…1a8bdiscovery
Hyperliquid L1pool addresses provider0x72c9…170cdiscovery
Hyperliquid L1pool addresses provider registry0x24e3…8b20discoveryfactory
Hyperliquid L1pool configurator (implementation)0x6fdd…9623discovery
Hyperliquid L1pool configurator (proxy)0x8cb4…c379discovery
Hyperliquid L1pool implementation0xbebb…9b06discovery
Hyperliquid L1protocol data provider0x4f4d…4326discovery
Hyperliquid L1proxy admin0xdb3b…a027discovery
Hyperliquid L1rewards controller (implementation)0x484b…2941discovery
Hyperliquid L1rewards controller (proxy)0x2af0…fe2fdiscovery
Hyperliquid L1static aToken (implementation)0x4376…fcf5discovery
Hyperliquid L1static aToken factory (implementation)0xe1a9…25dfdiscoveryfactory
Hyperliquid L1static aToken factory (proxy)0x5618…a9addiscoveryfactory
Hyperliquid L1strategy manager factory (looping)0xc3ed…34b0discoveryfactory
Hyperliquid L1timelock0xaaaa…7879discoverytimelock
Hyperliquid L1timelock0xbbbb…2432discoverytimelock
Hyperliquid L1timelock (isolated pools)0xcccc…3115discoverytimelock
Hyperliquid L1transparent proxy factory0x390d…0f4adiscoveryfactory
Hyperliquid L1treasury (implementation)0x6a14…7503discoverytreasury
Hyperliquid L1treasury (proxy)0xa9a7…eec5discoverytreasury
Hyperliquid L1treasury multisig0xcbf4…3d7bdiscoverymultisig
Hyperliquid L1UBTC (collateral token)0x9fdb…3463discoverytoken
Hyperliquid L1UETH (collateral token)0xbe67…7907discoverytoken
Hyperliquid L1UI incentive data provider0xd47d…3b54discovery
Hyperliquid L1UI pool data provider0xfc05…b9d4discovery
Hyperliquid L1USDC (collateral token)0xb883…630fdiscoverytoken
Hyperliquid L1USDe (collateral token)0x5d3a…ef34discoverytoken
Hyperliquid L1variable debt token (UBTC borrow)0xe16a…da07discoverytoken
Hyperliquid L1variable debt token (UETH borrow)0x14e1…e70cdiscoverytoken
Hyperliquid L1variable debt token (USDC borrow)0xd612…657ddiscoverytoken
Hyperliquid L1variable debt token (USDe borrow)0x1efa…50f9discoverytoken
Hyperliquid L1variable debt token (wHYPE borrow)0x747d…3e82discoverytoken
Hyperliquid L1variable debt token (wstHYPE borrow)0x4568…03d6discoverytoken
Hyperliquid L1variable debt token implementation0x8158…49eddiscoverytoken
Hyperliquid L1wallet balance provider0x9947…e149discovery
Hyperliquid L1wHYPE (collateral token)0x5555…5555discoverytoken
Hyperliquid L1wrapped token gateway0x4955…9171discoverybridge
Hyperliquid L1wstHYPE (collateral token)0x94e8…cf38discoverytoken

Protocol Info

Links

[defillama] Source: DeFiLlama [:] Source: DEFI@home quorum
Twitter
@hyperlendx
GitHub
hyperlendx

Security

[:] Source: DEFI@home quorum
Audits
20 audits
Bug bounty
unknown
Security contact
unknown

Technical

[:] Source: DEFI@home quorum
Upgradeability
Upgradeable

Provenance

[defillama] Source: DeFiLlama
Review status
listed
Updated
2026-06-01 11:27 UTC