The Block reported that Hypernova, a prop trading platform based on Hyperliquid (HYPE), raised $3 million in a pre-seed funding round led by Lemniscap. Proprietary Trading refers to a method where traders trade with funds provided by the platform, not their own capital, and then share the profits with the platform. Hypernova has introduced a smart contract-based system to improve the opaque profit-sharing structure of existing prop trading. It plans to generate revenue through trader evaluation and position trading that follows top traders. This investment will be used to attract traders. Additionally, Hypernova plans to officially launch its platform within the next two months.
