Hyperliquid lost ~60% of perp market share in 30 days. Traders migrate the moment liquidation becomes the only safety net you offer. RiskGuard is the one-line SDK that keeps their accounts alive — longer lifetimes, compounding fees, no more renting users from the liquidation engine. See the 12-month math 👇.
Your DEX doesn't have an acquisition problem. It has a churn problem. Same 1,000 traders, 12 months apart — the protected cohort earns you $1.01M, the unprotected one caps at $660K because 95% of them liquidate. One SDK call keeps their accounts alive and closes the $353K gap. Tier-II license already netted out.
Liquidation revenue is mostly a rumor DEX founders tell themselves — the real numbers show it's ≤3% of platform revenue and often flows to LPs / insurance funds, not the protocol. Meanwhile, a trader who blows up in month 2 never pays the other 22 months of fees you just walked away from.
This is a model — not a reported figure from a customer cohort (we don't have one yet). Every input below is either sourced or labeled estimate. Each pilot re-runs the math on your actual trader data before renewal.
| Input | Value | Source |
|---|---|---|
| Cohort size | 1,000 active perp traders | est model unit |
| Average DEX fee rate | 0.060% per trade | src CoinGecko perp DEX avg |
| Daily volume / active trader | ~$15,000 | est $2K equity × ~7× turnover |
| Trading days / month | 22 | est std weekday count |
| Monthly ARPU — unprotected | ~$198 | derived (vol × days × fee) |
| Monthly ARPU — protected | ~$150 (−25%) | est tilt-trade filter cost |
| Liquidation revenue share | ~2.3% of total | src Hyperliquid '25 HLP / total fees |
| Monthly survival — unprotected | 70% | src derived from CCAF 95.2% lifetime liq |
| Monthly survival — protected | 88% | est prop-firm rule-enforced analogue |
| Annual RG cost (Tier II) | −$42K subtracted from delta | priced in · net shown: +$311K |
08:00 EDT the following day. Risk-managing open positions stays unrestricted.
RiskGuard runs as a sidecar service against your DEX's public API. You forward new orders through our pre-trade endpoint; we validate against the trader's rule set and either pass-through or reject with a structured reason code. Everything else — state, fills, position tracking — is polled server-side.
No smart contracts to deploy. No custodial trust required. The trader retains key control; we only cancel their own orders using a delegated signing key with strict scope.
// 1. Install // npm install @riskguard/sdk import { RiskGuard } from '@riskguard/sdk'; const guard = new RiskGuard({ dex: 'hyperliquid', apiKey: process.env.RG_API_KEY, rules: { maxDailyLossPct: 5.0, maxDailyProfitPct: 100.0, cooldownAfterLoss: true, noSLWidening: true, noAddingToPosition: true, }, }); // 2. Intercept orders before your matching engine async function placeOrder(user, order) { const check = await guard.preTrade(user, order); if (!check.ok) { return { rejected: true, reason: check.rule }; } return dex.submit(order); } // 3. Receive webhook on every rule fire // POST /riskguard/webhook // { event: "daily_loss_lock", user, details }
Two seats remain. Take one and the economics shift entirely: you pay at cost for six months while we re-run the retention model against your actual trader data, rate locked for life once the pilot converts, and if month-90 cohort fees don't move you walk and we delete the agent keys that afternoon. The next three customers pay Tier II rate from day one.
/v1/pretrade, we return { ok: true | false, rule, reason }, you pass through or reject. Median integration on a motivated engineer's side: one afternoon. Full production rollout with your admin dashboard and webhook wiring: three to five business days. Call us on a Monday, risk-managed cohort live by Thursday.
We run the retention model on your real trader cohort on the call and walk through the Hyperliquid instance live. If you're not convinced by minute 10, we say so and save us both the follow-up. Pilot terms sent same day if there's a fit.