Backed Finance vs Dynamic
Hyperliquid ecosystem comparison · RWA Perps
Best for TradersQuick Take
Backed Finance Swiss-regulated tokenized stocks and bonds for on-chain RWA exposure on HyperEVM on Multi-Layer, while Dynamic Developer-friendly wallet and auth SDK enabling smooth HyperEVM dApp onboarding on Multi-Layer. They serve different niches in the Hyperliquid ecosystem.
Based on public data for Backed Finance and Dynamic. Key differentiators: layer deployment, fee structure, liquidity depth, and community adoption. Last reviewed: Mar 2026.
Backed Finance
Multi-LayerSwiss-regulated tokenized stocks and bonds for on-chain RWA exposure on HyperEVM
backedassets.fi
Dynamic
Multi-LayerDeveloper-friendly wallet and auth SDK enabling smooth HyperEVM dApp onboarding
dynamic.xyzOverview
Backed Finance
Backed Finance is a Swiss-regulated issuer of on-chain tokens backed 1:1 by real-world financial assets including US Treasury bonds, equity ETFs, and individual company stocks. Backed's bTokens are fully transferable ERC-20 tokens that track the price of their underlying TradFi asset, enabling DeFi protocols on HyperEVM to offer exposure to traditional financial markets within their yield strategies and collateral frameworks. For Hyperliquid's RWA perps vision, Backed provides the underlying tokenized assets that power perpetual trading on real-world equities and bonds directly on-chain. Backed's regulatory compliance in Switzerland ensures that institutional participants can interact with these tokens in a legally compliant manner, bridging the gap between TradFi and the Hyperliquid DeFi ecosystem. Its transparent reserve model and regular audits provide confidence for protocols that wish to use tokenized stocks as collateral or reference assets for derivatives.
Visit websiteDynamic
Dynamic is a powerful wallet and authentication infrastructure platform enabling Web3 developers building on HyperEVM to add multi-wallet login, embedded wallets, and progressive onboarding flows to their applications. Dynamic's SDK supports 300+ wallets including MetaMask, Coinbase Wallet, and social login via Google and email, letting users connect to HyperEVM dApps via their preferred authentication method. Its embedded wallet feature provisions non-custodial wallets on behalf of users who do not have an existing wallet, seamlessly bridging the gap between Web2 and Web3 onboarding. For HyperEVM applications targeting both crypto-native and mainstream audiences, Dynamic provides a flexible, developer-friendly SDK with built-in user management, passkey support, and multi-chain session handling—reducing weeks of auth development to hours. Dynamic is trusted by hundreds of Web3 projects globally and is a natural choice for ambitious HyperEVM applications.
Visit websiteFeature Comparison
| Feature | ||
|---|---|---|
| Layer | Multi-Layer | Multi-Layer |
| Category | RWA Perps | Wallets & Account Abstraction |
| Status | Active | Active |
| Launch Year | — | — |
| Website | backedassets.fi | dynamic.xyz |
| — | — | |
| GitHub | Not public | Not public |
| Verified | Unverified | Unverified |
| Tags | — | — |
Score Comparison
Feature Matrix
| Feature | ||
|---|---|---|
| Open Source | ✗ | ✗ |
| Verified | ✗ | ✗ |
| Has Website | ✓ | ✓ |
| Has Twitter | ✗ | ✗ |
| Has GitHub | ✗ | ✗ |
| Active Status | ✓ | ✓ |
Key Differences
Category Focus
Backed Finance is focused on rwa perps, while Dynamic targets wallets & account abstraction. They serve different user needs within the Hyperliquid ecosystem.
When to Use Each
Choose Backed Finance if you...
- ✓Want a rwa perps solution on Multi-Layer
- ✓Need: Swiss-regulated tokenized stocks and bonds for on-chain RWA exposure on HyperEVM
Choose Dynamic if you...
- ✓Want a wallets & account abstraction solution on Multi-Layer
- ✓Need: Developer-friendly wallet and auth SDK enabling smooth HyperEVM dApp onboarding
Ecosystem Integration
Backed Finance
Backed Finance operates on Multi-Layer (spans multiple hyperliquid layers). Spanning multiple layers lets it combine the strengths of each, though integration complexity is higher.
Dynamic
Dynamic operates on Multi-Layer (spans multiple hyperliquid layers). Spanning multiple layers lets it combine the strengths of each, though integration complexity is higher.
Both protocols share the same layer, maximizing composability potential.
Community Verdict
Which do you prefer?
Share your experience with Backed Finance or Dynamic to help others in the Hyperliquid community make better decisions.
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