Leaked code hints MetaMask will launch Hyperliquid-powered in-wallet perps.

Leaked code hints MetaMask is moving beyond basic wallet functions by integrating Hyperliquid’s perpetuals directly into its interface, enabling users to fund USDC, access a new “Perps” screen, and trade leveraged futures without leaving the app—an upgrade that could bring CEX-like speed and on-chain transparency to more than 30 million monthly users while building momentum alongside its much-anticipated token plans.

MetaMask, a popular self-custodial cryptocurrency wallet, looks to be partnering with Hyperliquid, a rapidly rising decentralised derivatives marketplace, to incorporate perpetuals trading directly into its UI.

Code updates on MetaMask’s public GitHub repository indicate that the feature is being actively developed, with references to a new “Perps” trading screen and deposit functionality that allows users to fund perpetual futures accounts in USDC.

MetaMask–Hyperliquid tie-up teased by leaked code ahead of Token2049.

The development signals a significant increase of MetaMask’s products. With over 30 million monthly active users, the wallet has long served as a conduit for decentralised apps.

By including perpetuals trading into its interface, MetaMask would enable users to trade leveraged derivatives without leaving the wallet ecosystem, duplicating the seamless experience provided by centralised exchanges.

Hyperliquid, which MetaMask is ready to integrate, focusses on high-performance perpetual futures trading.

Built on its own Layer 1 blockchain, the platform has established itself as a market leader in decentralised derivatives by providing gas-free transactions and entirely on-chain settlements.

Its unique HyperEVM architecture can process over 200,000 orders per second while keeping transparent order books, a paradigm meant to provide the speed of centralised platforms while preserving the security of decentralised infrastructure.

The leaked GitHub code gives further information on the integration procedure.

A pull request merged in July provided a USDC deposit flow for Hyperliquid’s perpetuals, complete with minimum deposit criteria, real-time gas charge estimations, slippage monitoring, and transaction confirmations.

According to the testing instructions, users may make deposits from the MetaMask wallet, check fee breakdowns, and get progress updates until the transaction was completed.

The deployment looks to be near. Developers hinted at a debut in the coming weeks, with some speculating that MetaMask might publicly unveil the functionality at Token2049, an event held by Hyperliquid in September.

Leaked code hints MetaMask

MetaMask’s shift towards in-wallet perpetuals suggests a bigger shift from basic asset management to full-stack trading. Hyperliquid’s high-throughput Layer 1 and gas-free settlement are set to provide CEX-like speed while keeping on-chain transparency.

If the rumoured USDC deposit flow and “Perps” tab ship as tested, millions of people who already have wallets could open, manage, and settle leveraged positions without leaving the MetaMask interface. This would close the UX gap that has long slowed the adoption of DeFi derivatives.

The merger would coincide with Hyperliquid’s strong growth in the derivatives market. The exchange just recorded $383 billion in monthly trading volume and $106 million in income for August, up 23% over July.

According to DefiLlama statistics, its annualised income has surpassed $1.162 billion, with a total permanent trading volume of $2.57 trillion.

Hyperliquid controls an estimated 70% of the DeFi perpetuals market, regularly beating both decentralised and smaller centralised competitors.

Its lean operating style is based on automation and smart contracts, allowing the platform to handle $330.8 billion yearly with only 11 workers.

In instance, PayPal employs roughly 29,000 people to manage $1.6 trillion, while Visa’s 28,000 workers handle $13 trillion.

The exchange’s expansion has also been fuelled by institutional use.

Partnerships with Anchorage Digital Bank for custody services and Circle for native USDC deployment have helped to attract bigger companies.

The decentralised exchange has reduced spot trading costs by 80% in an effort to increase liquidity and strengthen its influence on the decentralised finance (DeFi) derivatives market.

If verified, the MetaMask integration would be a significant step towards integrating complex derivatives trading into mainstream decentralised finance.

For MetaMask’s large user base, it might reduce the need to depend on centralised venues, strengthening Hyperliquid’s position as a major player in crypto derivatives.

MetaMask gears up for long-awaited token debut following Lubin’s confirmation.

MetaMask’s long-awaited token launch is closer than ever, with Consensys CEO Joseph Lubin confirming this week that “the Mask token is coming” and may come sooner than anticipated. The Ethereum co-founder attributed the deployment to attempts to decentralise portions of the MetaMask platform.

The comments are the clearest indication yet of an impending launch, after years of anticipation going back to 2021, when Lubin teased “Wen $MASK?” on social media.

Co-founder Dan Finlay has said that a cryptocurrency might be released given favourable market circumstances, emphasising that any issuance will be pushed directly inside the wallet.

MetaMask has lately increased its product offerings. In July, it collaborated with Mastercard and Baanx to provide a cryptocurrency debit card with direct spending possibilities.

On August 6, a governance proposal detailed intentions for MetaMask USD (mmUSD), a native stablecoin constructed using Stripe’s payment rails.

On August 21, the coin is set to debut on Ethereum and Consensys’ Linea network, with support for DeFi integrations for lending, borrowing, and liquidity.

On August 27, the wallet included a social login function that allows accounts to be restored using Google or Apple credentials while maintaining self-control.

The capability, based on Web3Auth technology, removes one of the most significant barriers for mainstream consumers by reducing the hazards associated with missing seed words.

Together, the activities indicate that MetaMask is establishing itself as more than simply a wallet, but as a comprehensive financial gateway for decentralised services.