Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$0Buyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $0 | -- | -- | -- |
| Oct 2026 | $142.38 | -- | -- | -- |
| Sep 2026 | $190.35 | -- | -- | -- |
| Aug 2026 | $794.25 | -- | -- | -- |
| Jul 2026 | $146.88 | -- | -- | -- |
| Jun 2026 | $609.24 | -- | -- | -- |
Comparison
Follow Updates
Follow Lists
People
About Liminal
Liminal is the native yield layer of Hyperliquid and is a separate entity from the custody provider of the same name, Liminal Custody. It packages the structural yield generated on Hyperliquid by funding rates, staking and lending markets into composable products for holders of HYPE, BTC and similar assets who want exposure without directional risk. Strategies are delta-neutral, holding spot long alongside a perpetual short that an engine continuously rebalances to avoid liquidation. Customized runs an isolated strategy per user with selectable assets and leverage, traded inside a sub-account authorized through Hyperliquid's native Agent system so the user keeps custody and can revoke access at any time. Tokenized pools capital, denominated in xTokens such as xHYPE and xBTC that can move across chains and earn a second layer of yield on AMMs, lending markets and Pendle.
Returns track funding rates and fall when rates normalize. The full xToken flow now runs on HyperCore, and Circle CCTP lets users mint and redeem against native USDC across their Hyperliquid balance, HyperEVM, Ethereum and Arbitrum. DefiLlama shows TVL of about 20.8 million US dollars on 19 October 2026, up from a 2026 low of 13.18 million on 30 April and 26.06 million at the end of May, with 25.37 million at the end of July and cumulative perpetual volume of about 533 million US dollars.
Liminal launched limUSD on 5 May 2026, aggregating Hyperliquid funding-rate, staking and lending yield into a single yield-bearing asset; limUSD went live on Pendle on 18 May and passed US$1.35 million in pool liquidity within 48 hours.
Liminal's Tokenized suite crossed US$25 million TVL on 10 June, with xHYPE and limUSD delivering roughly 25% and 10% net APY, and cumulative user earnings passed US$3 million by 16 June. Portfolio Margin was fully deployed across xHYPE and xBTC on 10 July, lifting net APY by about 50%, to roughly 11.5%, 11% and 9% respectively.
Liminal plans to extend xTokens to more asset classes, deepen composability with Pendle, HyperLend and HypurrFi, and scale both self-custody and tokenized products under a 10% performance fee with no management fee.
Co-founder includes Jack Marsh (CTO). He graduated from University of Exeter with a degree in Computer Science, worked as a backend engineer at Thought Machine, then founded DeFlux Payments, and is now co-founder and CTO of Liminal.
Information on other core executives is not publicly available.
Liminal charges a builder fee of 1 basis point (0.01%) per transaction on Customized strategies to cover operational overhead.
Liminal charges a 0.02% Liminal fee on cross-chain deposits and withdrawals via deBridge, alongside a fixed 0.04% deBridge fee.
Liminal Tokenized xTokens charge a 1% management fee.