MetaMask Connects Wallets and DeFi Trading via Hyperliquid’s Zero-Gas Blockchain

MetaMask, a top self-custody crypto wallet boasting more than 30 million active users every month, is preparing to introduce perpetual futures trading natively via a collaboration with Hyperliquid, a decentralized derivatives platform. Updates to MetaMask’s GitHub show a new “Perps” section in development, allowing users to deposit

and carry out leveraged trades without needing to leave the wallet. This feature utilizes Hyperliquid’s proprietary Layer 1 blockchain, which supports no-gas transactions, on-chain settlements, and can process more than 200,000 orders per second. Hyperliquid, which saw $383 billion in monthly volume and reported $106 million in revenue last August, has claimed about 70% of the DeFi perpetual trading market, surpassing many decentralized and centralized competitors .

This partnership represents a major move toward unifying DeFi capabilities within a single platform. Users will be able to deposit stablecoins, adjust leverage, and oversee their trades all through MetaMask’s simplified process, with settlements occurring on Hyperliquid’s L1. Initial tests began in August, uncovering issues such as failed transactions and visual glitches, but recent “release candidate” updates indicate a public launch is close. Experts believe this integration could encourage more retail users to try perpetuals by streamlining the process, though actual adoption will hinge on risk controls and educational resources. Hyperliquid’s fee-free model and open order books seek to combine the speed of centralized exchanges with the transparency and security of decentralized ones, setting it apart in a space largely led by centralized trading platforms.

MetaMask’s evolving strategy isn’t just about trading; it also includes plans for the much-awaited launch of its own token,

. In September 2025, Consensys CEO Joe Lubin stated that the token’s debut might happen “sooner than expected,” hinting at a move towards more decentralized governance. First hinted at in 2021, the token is intended to give holders voting power and incentivize engagement, though details on how it will be distributed and used are still unreleased. This fits with MetaMask’s broader growth, such as a crypto debit card deal with and Baanx, plus the introduction of MetaMask USD (mUSD) stablecoin in August. The wallet has also rolled out social login features to reduce risks associated with seed phrases, making it easier for users to access their wallets .

The impact of the MASK token could be significant given MetaMask’s large user population and its role as a Web3 entry point. Token-based governance might promote greater user involvement, but there are ongoing concerns about token price swings, regulatory issues, and equitable distribution. Lubin has highlighted the token’s role in furthering decentralization, yet doubts remain due to the lack of clear information on supply, vesting, or airdrop plans. The community continues to debate how to ensure both user rewards and long-term platform health.

There are risks to integrating these features, including the complexities of high-leverage trading, such as liquidation dangers and smart contract flaws. While Hyperliquid’s technical documentation and systems are public, the absence of independent security audits is a concern. Users should remain vigilant about permissions, double-check contract addresses, and consider hardware wallets for large sums. Combining custody, swaps, and derivatives within one interface might also create new security vulnerabilities, particularly for less experienced users. Analysts stress that although the integration lowers barriers to entry, it also highlights the necessity for strong risk management.

This development could have wide-reaching effects for DeFi. By embedding sophisticated trading functions into a widely used wallet, MetaMask and Hyperliquid are speeding up the shift away from centralized finance. This could spur innovation among traditional exchanges and help build a more cohesive DeFi ecosystem. Still, regulatory ambiguity and the inherent instability of crypto markets present ongoing challenges. As MetaMask advances its token launch and Hyperliquid expands its capabilities, the success of this initiative will depend on user uptake, technical durability, and adapting to a rapidly changing regulatory environment.