HyENA Announces Shutdown as Hyperliquid USDC Integration Reduces USDe Margin Role

HyENA, a perpetual contract trading platform built on the Hyperliquid HIP-3 standard and backed by Ethena's USDe as margin, has announced it will shut down. According to Foresight News, the team said Hyperliquid's deeper integration with USDC changed the role of USDe margin on the platform, leading to the decision to close the project, while user funds will not be affected. Markets will be taken offline one by one from August 31 to September 2 at a rate of one per hour. Positions will be settled automatically at the mark price when each market is delisted, with no action required from users. HLPe deposits can be withdrawn through Upshift at any time on a 1:1 basis, subject to a one-day redemption period. HyENA Points will not have a snapshot or token conversion, and the team does not plan to issue a token.