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About Valantis Protocol
Valantis Protocol is a modular framework for building DEXs, currently deployed on Hyperliquid. Its primary business is a liquid staking protocol issuing stHYPE, paired with STEX, an AMM designed specifically for liquid staking tokens (LSTs).
Core competitiveness: STEX solves the Loss-Versus-Unstaking problem. Traditional AMMs rebalance LST pools by selling below true redemption value, leaking value to arbitrageurs. STEX instead rebalances through Hyperliquid's native withdrawal queue at fair value, eliminating depeg arbitrage losses. Additionally, idle reserves can be deployed in lending markets. In partnership with Pendle, Valantis tokenized trading fee discounts, allowing traders to buy discounts and stakers to sell unused ones—creating a new market for fee rebates.
Market pain points addressed: LSTs on generic AMMs suffer constant sell pressure below intrinsic value; Hyperliquid's 7-day unbonding queue locks liquidity; trading fee discounts were previously only obtainable via direct staking, not tradable.
Recent development (Feb-Aug 2026): Launched the fee discount market with Pendle in August 2026. DeFi Sentinel rated Valantis A (78/100 safety score) as of June 2026, noting 6 audits from firms including Three Sigma, Hexens, and Guardian. The assessment flagged 4 medium and 9 low risk alerts across smart contract, economic design, governance, sustainability, and reputation dimensions.
Valantis Protocol is a modular framework for building DEXs. It completed $7.5 million in two funding rounds: a $3.5 million pre-seed led by Cyber Fund and Kraken Ventures (April 2023, $20M valuation), and a $4 million seed led by SevenX Ventures (September 2024, $40M valuation), with participation from Semantic Ventures, Figment Capital, Robot Ventures, Anthony Sassano, and Sandeep Nailwal. The protocol focuses on customizable liquidity pools and an LST-specific ecosystem around stHYPE on Hyperliquid, aiming to unlock asset-specific DeFi through composable modules.
Its core architecture includes Sovereign and Universal pools, swap fee modules, oracle modules, and governance mechanisms, with a whitelist for module factories. The project emphasizes security via invariant and fuzz testing, and its first production solution is a STEX pool for stHYPE, integrating staking discounts and order flow dynamics.
Greg Vardy (Co-Founder & CEO): Previously CTO at Nethermind; graduated from Durham University. Eduardo Carvalho (Co-Founder & CTO): Previously Director of Protocol Engineering at Nethermind; PhD researcher at Imperial College London; graduated from University of Lisbon. Both founded Valantis Labs in 2023.