PERP.WIKI

Insilico Terminal vs Purrswap

Hyperliquid ecosystem comparison · Trading Terminals & Interfaces

Best for Traders
Different Focus Areas

Quick Take

Insilico Terminal Free professional trading terminal — the first terminal on Hyperliquid on HyperCore, while Purrswap First stableswap on HyperEVM — powered by Abracadabra's MIMswap on HyperEVM. They serve different niches in the Hyperliquid ecosystem.

Based on public data for Insilico Terminal and Purrswap. Key differentiators: layer deployment, fee structure, liquidity depth, and community adoption. Last reviewed: Mar 2026.

Overview

Insilico Terminal logo

Insilico Terminal

Insilico Terminal is a free, professional-grade trading terminal and the first purpose-built execution interface to support Hyperliquid natively. Created by veteran trader Flood, the platform delivers institutional-quality order, position, and execution management tools to retail traders at zero cost — democratizing access to tooling previously reserved for professional trading desks. The terminal provides a comprehensive suite of advanced features: multi-order management, real-time position tracking across all open markets, granular execution controls, and a clean interface optimized for speed and clarity under fast market conditions. Unlike generic exchange UIs, Insilico Terminal is designed by a trader for traders — with a workflow that mirrors professional trading environments and prioritizes execution precision above all. Being the first terminal to integrate Hyperliquid natively means Insilico users benefit from direct access to Hyperliquid's high-performance on-chain order book, including sub-second execution, deep liquidity across 100+ perpetual markets, and transparent on-chain settlement. The platform also supports multi-chain trading, extending its utility for traders who operate across ecosystems. With no subscription fees and active community-driven development, Insilico Terminal has become an essential daily tool for serious traders in the Hyperliquid ecosystem.

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Purrswap logo

Purrswap

Purrswap is a native DEX on HyperEVM, incubated by Abracadabra DAO and built on a licensed implementation of MIMswap's Proactive Market Maker (PMM) algorithm. Unlike traditional constant-product AMMs, PMM actively adjusts its price curve based on external reference prices, concentrating liquidity near the current market price and dramatically reducing slippage for both stablecoin and volatile-asset trading pairs. Purrswap inherits Abracadabra DAO's deep DeFi expertise — the team behind the MIM stablecoin and the original MIMswap protocol on Ethereum — bringing battle-tested, audited smart contract architecture to the Hyperliquid ecosystem. By deploying natively on HyperEVM, Purrswap benefits from Hyperliquid's high-throughput EVM execution environment, low transaction fees, and tight integration with the broader Hyperliquid DeFi stack including HyperCore's perpetual order book. The PMM model makes Purrswap particularly capital-efficient for stablecoin swaps and correlated-asset pairs where tight spreads and minimal impermanent loss are critical for LPs. As a community-aligned project incubated by one of DeFi's most recognized DAOs, Purrswap represents a meaningful bridge between the established Abracadabra ecosystem and Hyperliquid's rapidly growing on-chain economy.

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Feature Comparison

FeatureInsilico Terminal logoInsilico TerminalPurrswap logoPurrswap
LayerHyperCoreHyperEVM
CategoryTrading Terminals & InterfacesDecentralized Exchanges
StatusActiveUpcoming
Launch Year20242025
Websiteinsilicoterminal.compurrswap.xyz
Twitter@InsilicoTrading@PurrSwap_
GitHubNot publicNot public
VerifiedUnverifiedUnverified
Tags
terminalTradingViewhotkeysprofessional
stableswapAbracadabraMIMswap

Score Comparison

Insilico TerminalPurrswap
Open Source
Insilico Terminal
Not public
Purrswap
Not public
Verified
Insilico Terminal
Unverified
Purrswap
Unverified
Ecosystem Breadth
Insilico Terminal
4 tags
Purrswap
3 tags
Maturity
Insilico Terminal
Since 2024
Purrswap
Since 2025

Feature Matrix

FeatureInsilico Terminal logoInsilico TerminalPurrswap logoPurrswap
Open Source
Verified
Has Website
Has Twitter
Has GitHub
Active Status

Key Differences

Layer Architecture

Insilico Terminal operates on HyperCore (native on-chain perpetual orderbook), while Purrswap runs on HyperEVM (evm smart contracts on hyperliquid l1). This affects composability, transaction speed, and the types of integrations each protocol supports.

Category Focus

Insilico Terminal is focused on trading terminals & interfaces, while Purrswap targets decentralized exchanges. They serve different user needs within the Hyperliquid ecosystem.

Unique Features

Insilico Terminal is distinguished by: terminal, TradingView, hotkeys, professional. Purrswap stands out with: stableswap, Abracadabra, MIMswap.

Market Timing

Insilico Terminal launched first in 2024, giving it a head start. Purrswap entered later in 2025, potentially with the benefit of learning from earlier entrants.

When to Use Each

Choose Insilico Terminal if you...

  • Want a trading terminals & interfaces solution on HyperCore
  • Need features like terminal and TradingView
  • Need: Free professional trading terminal — the first terminal on Hyperliquid

Choose Purrswap if you...

  • Want a decentralized exchanges solution on HyperEVM
  • Need features like stableswap and Abracadabra
  • Need: First stableswap on HyperEVM — powered by Abracadabra's MIMswap

Ecosystem Integration

Insilico Terminal logo

Insilico Terminal

Insilico Terminal operates on HyperCore (native on-chain perpetual orderbook). Running on HyperCore gives it direct access to the native orderbook with minimal latency and maximum throughput.

Purrswap logo

Purrswap

Purrswap operates on HyperEVM (evm smart contracts on hyperliquid l1). As a HyperEVM protocol, it can compose with other EVM-based DeFi primitives and leverage smart contract flexibility.

Community Verdict

Which do you prefer?

Share your experience with Insilico Terminal or Purrswap to help others in the Hyperliquid community make better decisions.

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