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Hypernova Raises $3 Million in Pre-Seed Funding for Hyperliquid-Based Prop Trading Platform

Hypernova Raises $3 Million in Pre-Seed Funding for Hyperliquid-Based Prop Trading Platform

According to The Block, Hypernova raised $3 million in a Lemniscap-led pre-seed round to expand its Hyperliquid-based trustless prop trading platform, fund trader payouts, and prepare for a public launch within two months.

HYPE

Fact Check
The Block's article directly confirms all elements of the claim: Hypernova, $3 million pre-seed, led by Lemniscap, Hyperliquid-based prop trading platform, with additional venture firms (Very Early Ventures, CMS Holdings, Pivot Global) and Hyperliquid ecosystem angel investors. Crypto Briefing independently corroborates the funding amount, round type, and platform description.
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Summary

Hypernova, a proprietary trading platform built on Hyperliquid, raised $3 million in pre-seed funding led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, Pivot Global, and angel investors from the Hyperliquid ecosystem, according to The Block. The startup said the round was structured as a SAFE with token warrants, closed in mid-October after being oversubscribed three times, and included a board observer seat for Lemniscap. Hypernova describes itself as a trustless prop trading firm that uses smart contracts to automate payouts and settle trader activity onchain, aiming to address opaque payout practices and incentive problems in traditional retail-focused prop trading. Since launching its closed alpha on May 1, the company said it has onboarded 250 traders, funded more than 20, and paid out over $30,000. Hypernova allocated $1 million of the raise to a trader payout reserve and the remaining $2 million to team expansion and preparing for a public launch within the next two months.

Terms & Concepts
  • SAFE: A simple agreement for future equity, a fundraising instrument that gives investors rights to future ownership under specified terms.
  • Smart contracts: Self-executing blockchain-based code that automatically carries out predefined rules, such as payouts or settlement processes.
  • Onchain: Activity recorded and executed directly on a blockchain, allowing transactions or actions to be transparently verified on the network.