Hypernova, a proprietary trading platform built on the Hyperliquid decentralized exchange, has successfully secured $3 million in pre-seed funding to expand its on-chain funded trading model. CEO Anar Bayramov confirmed on Thursday that the round, led by venture capital firm Lemniscap, was oversubscribed by three times as the startup prepares for a broader public rollout.
The capital injection features a mix of institutional backing and prominent angel investors from the decentralized finance sector. Key participants include Very Early Ventures, CMS Holdings, and Pivot Global. Individual contributors also joined the round through the Echo capital-raising platform, including Maximilian Fiege, co-founder of Native Markets, “Huf” of Pear Protocol, and the co-founders of HypurrCollective.
Hypernova intends to allocate $1 million of the fresh capital to a dedicated payout reserve, ensuring the platform can fulfill trader withdrawals as it scales. The remaining $2 million is earmarked for team expansion and technical preparations for a public launch expected within the next two months. This influx of capital comes as Hyperliquid whale activity remains a focal point for decentralized derivatives traders seeking high-performance execution.
Addressing opacity in the retail prop trading sector
The platform identifies itself as a “trustless” prop firm, using smart contracts to automate instant payouts and settle all trading activity on-chain. This structural transparency aims to solve a common friction point in traditional retail-focused prop firms, where profitable traders can inadvertently become a liability for the firm’s own balance sheet. Many traditional shops operate on a “B-book” model, meaning they must pay successful traders out of their own pockets.
Hypernova utilizes a dynamic approach to manage risk and market exposure. According to CEO Anar Bayramov, the platform can choose to “A-book” a trader by taking their positions directly to the market if they have a proven track record. Conversely, if there is insufficient data or a trader is deemed less consistent, the firm may “B-book” the position. This flexibility is increasingly relevant as Bitcoin price analysis frequently dictates the volatility windows that prop traders look to exploit.
Since launching its closed alpha on May 1, Hypernova has onboarded 250 traders and funded more than 20 individual accounts. The platform has already processed over $30,000 in payouts via its automated on-chain logic. This growth occurs alongside a broader trend of institutional crypto adoption, specifically as Italy’s largest bank reports exposure to digital assets exceeding $200 million through ETF products.
Capital structure and the road to public launch
The $3 million pre-seed round was structured as a simple agreement for future equity (SAFE) with token warrants. While the firm has not disclosed its current valuation, the involvement of Lemniscap includes a board observer seat to oversee the company’s governance. Most of the angel participation was coordinated via Echo, an on-chain platform founded by Jordan “Cobie” Fish and recently acquired by Coinbase for $375 million.
Hypernova currently employs seven people in London and is actively recruiting for quantitative researcher and developer roles to bolster its technical stack. The startup enters a competitive landscape that includes established players like Breakout, which was recently acquired by the Kraken exchange. Other active competitors in the niche include HyperPnL, Propr, and Upscale Trade.
The startup generates immediate revenue through “assessments,” which are one-time fees paid by traders to qualify for funded accounts. Over the long term, Hypernova expects to build additional revenue streams by trading alongside its most successful participants. Bayramov acknowledged the technical hurdles ahead, noting that the company’s ultimate goal is to build a “globally distributed trading firm” through refined incentive structures and verifiable execution logic.
