HyperLink, a prime brokerage protocol for decentralized exchange Hyperliquid, has completed a $2.5 million financing round backed by Alliance, North Island Ventures, Reverie, Node Capital, Breed and smartestmoney.hl. The protocol aggregates trading volume and staking to unlock VIP fee rates, aiming to provide users with lower fees, private trading flows and optimized execution routes. HyperLink’s routing volume reached $254 million last month, equivalent to 0.1% of Hyperliquid’s total trading volume and 1% of trading volume generated by Hyperliquid builders. The protocol is currently operating on an invitation-only basis.