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Hyperion DeFi Inc. (NASDAQ: $HYPD) is putting a quarter of its HYPE (CRYPTO: $HYPE) treasury to work through a new agreement with Skew Technologies aimed at expanding institutional markets on Hyperliquid.

The Nasdaq-listed company will deploy 500,000 staked HYPE, valued at about $33.6 million when announced, through its HYPE Asset Use Service. The capital will provide the bond required for Skew to launch custom perpetual futures products under Hyperliquid's HIP-3 framework.

HIP-3 allows outside teams to create and operate new markets using Hyperliquid's trading infrastructure. The model has become a larger part of the exchange as builders move beyond crypto-native pairs into stocks, indexes, commodities and other synthetic assets.

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Hyperion will receive equity in Skew and a share of revenue generated by the listing service. The arrangement includes fixed and scaling components that are not entirely dependent on trading volume, adding another potential income stream around Hyperion's staked token holdings.

Skew has not disclosed which markets it plans to introduce first. Its initial roadmap will focus on HIP-3 perpetual futures, followed by a possible expansion into outcome-based products through HIP-4 as that infrastructure develops.

"Skew is positioned to bring a new class of markets to Hyperliquid," founder David Gil said, pointing to products developed internally and with outside partners.

The 500,000-token commitment represents roughly 25% of Hyperion's reported two million HYPE holdings. It also advances the company's effort to generate revenue from treasury utility rather than relying only on token appreciation and staking yield.

HIP-3 markets recently approached half of Hyperliquid's daily perpetual futures volume, up from about 2% at the beginning of the year. That growth has made bonded capital increasingly important for teams looking to launch products without building a trading venue from scratch.

The agreement moves Hyperion closer to becoming a capital and infrastructure layer for Hyperliquid's builder economy as institutional trading products widen across the network.

Hyperion DeFi Inc. (NASDAQ: HYPD) is currently trading at $3.05 U.S. per share.