Hyperliquid is described by VanEck as a "Hybrid Blockchain" operating as both a Layer-1 (L1) and Layer-3 (L3) solution. Its L1 architecture provides scaling advantages, while its L3 framework offers access to Ethereum's user base and assets. Investors should note its dependence on Arbitrum and Ethereum for state, meaning rollbacks on those chains would affect Hyperliquid transactions.

By defi_monk
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