First-depositor / share-inflation guard

Hyperliquid's assessment for RD-F-075 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

Not applicable. HLP is an L1-native vault, not an ERC-4626 contract. Share inflation attacks require ERC-4626 accounting patterns. Hyperliquid's HLP share pricing is determined by the closed-source L1 binary. The 4-day withdrawal lockup is a liquidity mechanism, not a share-inflation guard. Per taxonomy PD-024: first-depositor/share-inflation guard is vault-specific.

Sources #

Docs
Protocol Vaults — Hyperliquid DocsHLP vault documentationretrieved 2026-04-28
Docs
00-profile.md §3 — HLP vault is L1-native binaryProfile §3 — HLP is L1-native, not an EVM contractretrieved 2026-04-28

Methodology #

Determine whether the vault has a first-depositor guard (seed deposit on deploy, virtual-share offset, or floor-check).

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol hyperliquid factor RD-F-075 score not_applicable collected_at 2026-04-28 13:58:49