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Ventuals to shut down after 500,000 HYPE raise, halting HIP-3 markets

Ventuals to shut down after 500,000 HYPE raise, halting HIP-3 markets

The Hyperliquid ecosystem project is winding down after roughly seven months, with reported revenue trailing ticker registration and auction costs as users face a September 15 withdrawal deadline.

HYPE

Fact Check
The BlockBeats flash, citing the original Ventuals X post (x.com/ventuals/status/2066517389169025294, dated 2026-06-15), confirms every key element: shutdown, ~500,000 HYPE raised, ~$650M volume, settling/freezing synthetic HIP-3 markets on set timelines, vHYPE 1:1 redemption, and the requirement for users to withdraw funds and export wallets before September 15. Cryptobriefing independently corroborates the shutdown, halting of all HIP-3 markets, the 500,000 HYPE raise, and 1:1 vHYPE withdrawal. Ventuals' own documentation confirms the 500K HYPE HIP-3 requirement. All numeric and procedural details align across sources.
Summary

Ventuals said it will gradually shut down its platform and join another team building in the Hyperliquid ecosystem after raising more than 500,000 HYPE and generating about $650 million in volume. The move ends its roughly seven-month, around-the-clock onchain private market experiment. BlockBeats said platform revenue totaled $124,651 versus $383,242 in ticker registration and auction costs, leaving a net loss of about $258,591. The project will halt all HIP-3 markets and settle outstanding trades using preset TWAP or external prices before trading ceases. OpenAI and Anthropic markets were frozen immediately at 24-hour TWAPs of $1,341.80 and $1,618.90, while commodities and index markets are scheduled to settle after regular trading ends on June 18. Withdrawals are set to begin processing on June 19, and users must withdraw funds and export wallets by September 15. The closure also highlights concentration in the HIP-3 market, where Trade XYZ held more than 90% share, alongside the broader risks of synthetic and illiquid-asset markets where settlement design is critical.

Terms & Concepts
  • HIP-3: A Hyperliquid-related market deployment framework referenced by Ventuals for how its markets were launched and will be settled.
  • TWAP: Time-weighted average price, a benchmark calculated over a set period to determine settlement values.
  • synthetic markets: Markets that provide derivative-style price exposure to underlying assets or reference values rather than direct ownership.