Elixir Protocol

Elixir Protocol is a decentralized liquidity network purpose-built to provide market-making liquidity to order-book exchanges like Hyperliquid. Rather than using AMMs, Elixir allows retail users to deposit assets and earn yield from professional-grade order-book market-making strategies—typically reserved for institutional desks. Elixir's smart order routing places bids and asks near the midpoint on Hyperliquid's order book, capturing the bid-ask spread and distributing proceeds to depositors.

Yield and vault protocols on Hyperliquid give users passive access to sophisticated DeFi strategies — from delta-neutral funding rate arbitrage to leveraged staking loops. Elixir Protocol is part of this growing category that keeps capital productive within the ecosystem. With HyperCore's native HLP vault and HyperEVM-based strategies, Hyperliquid offers yield options across the entire risk spectrum.