Hyperwave, a DeFi project in the Hyperliquid ecosystem, said it would shut down because operating costs and regulatory uncertainty made continued operation untenable. Foresight News reported the announcement on November 11, 2026, at 18:41:01 (UTC+08:00). The reported shutdown date was December 16.
At the time of the report, all vaults were withdrawal-only, and Hyperwave said GWAVE could be unstaked at any time. It said withdrawing before December 16 was the fastest way for users to recover their funds. After that date, the remaining net asset value would be returned to wallets holding vault tokens.
Hyperwave also said the vaults would continue generating returns before closure while converting funds into underlying assets to support withdrawals. It pledged to use 100% of vault revenue before closure to buy back and burn HWAVE. The report did not quantify that revenue or the assets expected to remain after shutdown.