Hyperliquid is a Order book perpetual DEX on Hyperliquid L1. Hyperliquid’s DeFi platform provides the ease of use of a centralized exchange (CEX), with a seamless UX, one-click trading and near-instant transactions. For more advanced traders, the platform offers partial take-profit (TP) and stop-loss (SL) orders and API support. Its native vaults open up market making and liquidation strategies to the community.