Hyperdrive
Yield, Your Way.
Hyperdrive is an automated market maker (AMM) that enables fixed-rate markets to be built on top of arbitrary yield sources (e.g. stETH, sDAI, etc.). The yield source provides a variable rate of return, while the AMM's novel pricing mechanism facilitates trading rates, supported by the liquidity that underlies a given market. Hyperdrive supports LP'ing that is perpetual by design and solves the problem of liquidity fragmentation that other fixed-rate protocols face. In addition, It drastically simplifies the UX for both traders and LPs, while enhancing the efficiency of yield markets across DeFi.
