Gliquid Review 2026: A V4 AMM on Hyperliquid's HyperEVM

Gliquid is a decentralized exchange on Hyperliquid's HyperEVM. It describes itself as a next-generation V4 AMM that unlocks efficient liquidity on the Hyperliquid chain. Tracking data classes it as a DEX and shows it has been listed since June 2025.

One source reports that Gliquid uses the Algebra stack, which suggests a concentrated-liquidity design. The project has also run a points programme, called Points 2.0, meant to reward users and attract new communities. A past airdrop campaign is reported to have ended.

The protocol is small. Total value locked is about $24,000, with a 7-day change of roughly 2 percent. The project does not publish a team, licence or fee schedule in the material available, and tracking data shows no native token.

Gliquid is an automated market maker (AMM). Instead of matching buyers and sellers through an order book, it uses pools of tokens supplied by liquidity providers. Traders swap against those pools, and a pricing formula sets the rate.

The project calls itself a V4 AMM. One source reports it is built on the Algebra stack, a toolkit used for concentrated-liquidity designs where providers focus capital within chosen price ranges. This can improve capital efficiency, but it also means providers must manage their positions more actively.

The protocol runs on HyperEVM, the smart-contract layer of Hyperliquid. Liquidity providers earn a portion of the trading fees from the pools they support, and also face impermanent loss when prices move.

Gliquid's swap fees and liquidity provider fee tiers are not published in the material available. Users should see the applicable fee on the swap or pool screen before confirming a transaction.

Beyond the pool fee, users also pay network gas on HyperEVM and bear slippage, which matters more in pools with little liquidity. Check the pool's fee tier and price impact before each trade.

Tracking data lists two audits, but the auditors, scope and findings are not named in the material available. An audit reduces but does not remove smart-contract risk, and a young protocol with small liquidity has had little time to prove itself in the market.

Like any non-custodial DEX, users keep control of their funds in their own wallet, but they take on smart-contract, pricing and impermanent-loss risk. Gliquid does not publish team, licence or regulatory details. Verify the official site and contract addresses yourself to avoid imitation sites, and check that using DeFi services is permitted where you live.

Gliquid suits users already on Hyperliquid's HyperEVM who want to try a newer AMM design or provide liquidity in an early-stage protocol. It is a poor fit for people who need deep liquidity, large trades or a long track record.