Pear Protocol

Pear Protocol launched its public beta in May 2024, initially built on GMX and Vertex, offering over 210 trading pairs. In September 2024, the protocol conducted a public sale of its native token $PEAR, which sold out within 50 minutes, followed by its listing on Camelot DEX on September 25. A significant milestone came in July 2025 when Pear Protocol completed a $4.1 million strategic financing round led by Castle Island Ventures, with participation from Compound VC, Florin Digital, and Sigil Fund. The funds were allocated to expanding institutional product offerings, including vaults and API interfaces on HyperEVM, and re-listing more liquid spot tokens on Hyperliquid's spot order book. The platform also achieved native integration with Hyperliquid's perpetual contract order book, enabling one-click pair trading with advanced features such as ratio-based take-profit/stop-loss strategies and TWAP execution. These developments mark Pear Protocol's evolution from a DeFi aggregator to a specialized pair trading infrastructure layer.

Buybacks and burns: About 9.43 million PEAR were bought back and burned on July 4 against roughly $2.49 million of protocol volume and fees, cutting total supply by 1.11% to 852.2 million; PIP-3 directs 70% of protocol revenue to weekly buybacks, burns and liquidity and 30% to the DAO treasury, with 147.8 million PEAR burned all-time.

Holder rights and unlocks: Staking issues stPEAR, granting up to a 50% trading fee discount and governance weight, with early-exit fees falling to zero after 31 days; team tokens release about 7.2 million a month through September 2027; an upgraded Orchard platform launched on August 10.

Pear Protocol passed governance proposal PIP-3 in January 2026 with over 99% approval, mandating that 70% of all protocol revenue be used to buy back and burn PEAR while 30% goes to the team. On September 16, the Agent Pear Vault went live on HyperEVM as an audited ERC-4626 contract with a $1M initial hard cap; a restricted agent wallet executes paired trades and a 20% performance fee applies only to new profits above the high-water mark. On September 28, Pear announced a PEAR token migration portal opening October 12, swapping Arbitrum PEAR 1:1 for the new HyperEVM token, with the portal open until September 28, 2027; stPEAR staking is rebuilt automatically on HyperEVM. Cumulative trading volume has surpassed $2B with $1.3M in fees.

Pear Protocol's Future strategy and roadmap: Looking ahead, Pear is evolving from a paired-trading terminal into an integrated on-chain trading stack spanning an institutional desk, AI trading agents and vaults, and is using this migration to fully enter the Hyperliquid ecosystem — post-migration PEAR moves freely between HyperEVM and Hyperliquid spot with liquidity launching on both. The team intends to make HyperEVM its core infrastructure, expand AI-agent vaults and institutional products, and reinforce PEAR value capture through the PIP-3 buyback mechanism.

Huf (pseudonym) — Founder; has 11 years of investment-banking and trading experience and advised CIOs at major asset managers and family offices.

Bob (pseudonym) — COO; has more than 10 years of traditional-finance experience, including work at a major UK brokerage.

Marvel (pseudonym) — CTO; has more than five years of crypto full-stack experience, specializing in Rust, Solidity and smart-contract security.

Angel (pseudonym) — Product Lead; has more than seven years of Web3 development and design experience and previously ran a software-development agency.

Pear Protocol charges 0.06% (6 bps) on total position size when opening a trade, covering all legs of a pair or basket once rather than per leg.

Pear Protocol charges the same 0.06% on total position size when closing, so a full round trip costs 12 bps, with a $1,000 position paying $0.60 to open and $0.60 to close.

Pear Protocol's 6 bps fee can be cut by up to 50% through stPEAR staking tiers, and joining through a referral gives a further 10% discount.

Pear Protocol sets a separate tier for institutional Pear Pro at 2 bps per open or close on Hyperliquid and Lighter.