Liquid Hyperliquidity Provider (HLP)

Liquid HLP allows users to use their HLP (Hyperliquidity Provider Vault) deposits as collateral on HyperLend.

Users deposit USDC into the vault, which then transfers it to Hyperliquid L1 exchange, where it's deposited into the HLP vault.

Vault shares (represented as ERC20 tokens) can then be used as collateral in Isolated Pairs.

To redeem the underlying USDC, shares are burned, a proportional portion of the vault position is withdrawn and USDC is transferred back to the Liquid HLP vault where it can be claimed.

sharePrice = totalHlpDepositBalance / totalShares

For more information on the liquid HLP vault: https://x.com/hyperlendx/status/1866200186915266716