Hyperliquid has listed perpetual futures contracts for Useless Coin (USELESS), a Solana SPL meme token, with maximum leverage of 3x. The listing adds another asset to the platform’s more than 190 perpetual markets and follows community demand. The cap is substantially below the up to 50x leverage available on Hyperliquid’s Bitcoin perpetuals, reflecting the higher risk associated with the token. USELESS launched on May 10, 2025, with a total supply of 1 billion tokens allocated entirely to liquidity. It traded at about $0.30 on the listing date, implying a fully diluted valuation of roughly $300 million. USELESS derivatives were already available on Binance and Bybit, while aggregate open interest across multiple platforms exceeded $100 million and 24-hour volumes reached hundreds of millions of dollars. Hyperliquid, which launched in 2023 and operates its own Layer-1 blockchain for order-book trading, has processed trillions of dollars in cumulative transaction volume. The platform cautioned that listing a contract does not constitute recognition or endorsement of the project, that past performance does not guarantee future results, and that users should understand the asset and trading risks before taking positions.