A yield desk on Hyperliquid is turning participation into an exit. ChainCatcher reported on November 11, 2026, that Hyperwave, a yield protocol on Hyperliquid, has decided to phase out operations, citing higher operating costs and regulatory uncertainty.
The protocol is scheduled to close on December 16. Users were advised to withdraw before that date so withdrawals can be completed more quickly. After the close, any remaining net asset value is to be returned to wallets that hold the vault tokens.
Access has already narrowed. All vaults, including GWAVE, are now withdrawal-only, and users can unstake at any time. While funds are converted into base assets in preparation for those withdrawals, the notice says the vaults will continue to generate yield.
Income produced before the shutdown is designated entirely for buying back and burning HWAVE. The project also warned users to watch for phishing links during the closure period. Questions about the arrangement can be taken to official support on Discord or inside the app.
Original report: ChainCatcher, November 11, 2026
