EtherFi, the leading Ethereum-based liquid restaking protocol boasting nearly $9 billion in Total Value Locked (TVL), is strategically expanding its reach by forging a pre-deposit partnership with HyperBeat, the premier yield aggregation protocol operating on the HyperEVM, Hyperliquid’s Layer 1 blockchain.
This collaboration sees EtherFi and HyperBeat launching preHYPE, a secure multi-signature vault designed for early deposits. This initiative is a precursor to the release of beHYPE, a new liquid staking token (LST). The preHYPE vault will leverage EtherFi’s established infrastructure and extensive user network, combined with HyperBeat’s specialized yield optimization strategies. According to a release viewed by The Defiant, preHYPE is slated to transition to a fully smart contract-based system within six weeks.
Depositors participating in the preHYPE vault stand to benefit from attractive staking yields and gain access to “Hearts,” HyperBeat’s dedicated rewards program.
This launch follows closely on the heels of Kinetiq, another liquid staking protocol, which recently attracted over $400 million in deposits on its opening day, underscoring the significant demand for yield-generating opportunities among HYPE token holders.
Amidst a torrid rally in its native HYPE token, Hyperliquid is increasingly drawing interest from both institutional investors and established DeFi teams. Its HyperEVM network recently surpassed $2 billion in TVL, marking rapid growth despite being just five months old.However, HyperEVM’s nascent stage has led to some concerns regarding ecosystem maturity and a perceived lack of incentives from the Hyper Foundation. In this context, EtherFi’s move is a significant vote of confidence in the Hyperliquid ecosystem’s long-term potential.
“This collaboration with HyperBeat represents our commitment to fundamentals-oriented DeFi. By combining secure infrastructure with targeted DeFi incentives, we aim to support broader cross-ecosystem adoption while maintaining compliance and security,” stated Mike Silagadze, founder and CEO of EtherFi.zKilian, co-founder of HyperBeat, echoed this sentiment, adding, “As Hyperliquid continues its growth, this collaboration enables both parties to offer optimized solutions that accelerate adoption and focus on sustainable user returns.” HyperBeat currently holds $145 million in TVL and has yet to launch its native token.
While EtherFi’s native token, ETHFI, has seen a 29% increase over the past month, it still remains approximately 85% below its all-time high recorded in March 2024, shortly after its launch. This partnership, however, signals a strategic move to capitalize on emerging opportunities within the rapidly evolving DeFi landscape.
July 2025, Cryptoniteuae
