Is HyperLend Safe?
Risk Grade: B- (29/100)
HyperLend is rated as moderate risk — some novel mechanisms, generally well-understood.
Moderate risk — proven Aave lending codebase deployed on a newer chain (HyperEVM), balanced by institutional recognition and rapid adoption.
HyperLend is a lending protocol on Hyperliquid's HyperEVM blockchain, built as an officially recognized fork of Aave. It offers both shared-risk core pools and isolated markets, with $308M in deposits. Its B grade reflects the proven Aave codebase and standard lending design, with moderate risk from operating on the newer HyperEVM chain.
TVL
$393M
Mechanisms
5
Interactions
4
Value Grade
D
Key Risks for HyperLend Users
HyperLend runs on Hyperliquid's HyperEVM chain, which is newer and less battle-tested than Ethereum. Chain-level issues could temporarily freeze lending operations during critical periods.
As a fork of Aave, the lending mechanics are well-understood, but modifications for HyperEVM compatibility could introduce subtle bugs not present in the original Aave deployment.
The protocol shares 10% of revenue with the Aave DAO under its licensing agreement, reducing economic efficiency compared to unlicensed alternatives.
Top Risk Factors
- •HyperLend is a friendly fork of Aave deployed on Hyperliquid's HyperEVM chain. While Aave's codebase is well-audited, HyperEVM is a newer L1 with limited battle-testing compared to Ethereum, introducing infrastructure risk beneath a proven lending protocol.
- •Oracle dependencies for liquidation decisions on a newer chain may have different reliability characteristics than Ethereum mainnet. Hyperliquid's oracle infrastructure is less tested under extreme market conditions.
- •As the first major lending protocol on HyperEVM, HyperLend serves as the portfolio margin engine for the Hyperliquid ecosystem. High integration with Hyperliquid perpetuals creates correlated risk during market stress.
Risk Score Breakdown
HyperLend's highest risk area is Scale Exposure (5/10). Here's how each dimension contributes to the overall 29/100 score:
Read the Full HyperLend Risk Report
This protocol has 2 collapse scenarios. 2 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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