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About button
button is a bitcoin prime broker built on Hyperliquid. Users deposit BTC into a vault and mint uBTC, which serves as margin or collateral for trading perpetuals and spot on Hyperliquid or is allocated to strategy modules called Tailors. It targets bitcoin holders who want yield but will not move coins: bridges and wrapped assets add custody and contract risk, and centralized lending requires handing the asset to a platform. button records shares through vault tokens, checks collateral continuously, and relies on Hyperliquid's matching and risk engine for liquidation.
Clients are large BTC holders, market makers and companies holding bitcoin as a reserve asset, and the product puts borrowing, trading and yield into one account view. Compared with designs built on bitcoin timestamping and restaking, button leaves mainnet usage untouched and routes liquidity into an existing derivatives venue, with accounts denominated in BTC and repayment and withdrawal handled in the same interface. The system is tied closely to Hyperliquid, whose fee changes, outages and rule adjustments feed straight into borrowing cost and liquidation.
In December 2025, Button closed a $5.1M seed round led by Blockchain Capital, with participation from Coinbase, Auros, FalconX, etc., positioning itself as a Bitcoin prime brokerage built on Hyperliquid, aiming to turn BTC into yield-bearing, borrowable on-chain collateral.
In April 2026, Button's Vault went live, introducing on-chain BTC-backed credit and strategy execution, entering closed beta; the team had previously established risk and collateral standards. These milestones mark its shift from funding to live product operation, advancing Bitcoin from passive holding to active yield generation.
In 2026 button positioned itself as a discretionary perpetual futures interface that routes orders straight into Hyperliquid's fully onchain order book and into trade.xyz for real-world asset perps. The tradable universe exceeds 210 markets spanning crypto, equity indices, single names, commodities and FX, including the S&P 500, Nvidia, gold and euro-dollar, all margined in USDC and settled onchain.
button's interface adds no platform markup, so users pay only Hyperliquid's maker and taker fees. Liquidation is enforced by the underlying engine against maintenance margin, with live liquidation prices shown before a position is opened. Everything is self-custodial with no account or identity check and no custodian holding collateral, and funding is charged hourly and displayed up front. In May the team was hiring a founding backend engineer to handle Hyperliquid's 70 millisecond blocks and roughly 100GB of L4 order book data per day.
button's next steps are unified collateral, portable margin and idle balances that earn by default, with agentic trading workflows built into the account layer so users can act through strategies rather than order by order.
Atif Khan — Co-founder.
Soby — Co-founder; previously co-founded Arbitrum-based decentralized gaming infra Ex Populus and Xai.
Salman Ahmed — Co-founder & CTO; engineering and leadership experience at LinkedIn, Truework and Rainbow. Button, built by Button Labs, is a non-custodial perps trading and strategy platform on HyperEVM.