Hello!
The previous episode was about how Kinetiq lets you stake HYPE directly on Hyperliquid without any middleman or off-chain steps and what that unlocks for builders and everyday users. If you’re building staking infra, validator tooling, or custody-grade yield pipes, we would love to chat. Please drop us a line at venture@decentralised.co.
On to the new episode…
When debt moves, wealth compounds. When debt stagnates, wealth erodes.
If I’ve learnt anything during my MBA, it is that debt is always moving. Loans get repackaged, refinanced, and rehypothecated: mortgages fund bonds, and bonds fund balance sheets. The same dollar works in multiple places. The financial world scales by circulating dollars as many times as possible.
Crypto, for all its innovation, breaks these loops.
You borrow against an asset, and then what? The dollar sits in a wallet. The loan sits on a ledger. Capital sits idle.
HypurrFi’s co-founder, Androo, and growth lead Andy, joined me for a conversation on how they are trying to fix this. The answer revolves around building credit rails where debt moves faster, cheaper, and smarter.
At the center is USDXL, a synthetic dollar minted against crypto collateral. Unlike most CDP-based stablecoins (think Sky’s DAI), USDXL is not designed to move across trades, chains, and real-world spending. You can borrow against HYPE, HLP, or majors on Hyperliquid and immediately spend that USDXL with a simple card swipe. So spend against your crypto positions in the real world without selling your positions. When you spend, immediately a borrow transaction is created without you ever realising it. This is also how you save on taxes, by the way!
What happens after this is how HypurrFi is changing things. When you borrow, a transaction is created, with, say, an APY of 25%. Obviously, you don’t want to pay 25%. Say the borrowing rate for USDe is 10%. You can now swap your USDXL debt with USDe with HypurrFi. Most protocols would force you to unwind, repay the debt, release the collateral, and start over.
HypurrFi skips the reset. Their refinance engine lets you migrate the debt by moving your liability from one loan asset to another, without closing the position or losing market exposure.
Alongside this, HypurrFi is also building ready-made strategies for borrowers. Think of things like delta-neutral
Unlike most DeFi apps, HypurrFi isn't trying to serve “everyone.” They’re focused on a narrow but serious user base of traders who understand capital efficiency.
When debt moves, it can seek better terms, higher velocity, and stronger returns. Tune in to learn how HypurrFi is making debt servicing better.
Signing off,
Saurabh Deshpande
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