- Hyperliquid has announced that validators will vote on the potential delisting of four assets — $BLAST, $CHILLGUY, $FTT, and $TST — scheduled for May 25, 2026 at 09:00 UTC.
- If approved, all open perpetual positions will be automatically settled at the 1-hour weighted spot oracle price — open orders cancelled and no new orders accepted after settlement.
- Traders holding positions in any of these four assets are strongly urged to close before the vote window to avoid forced settlement at potentially unfavourable prices.
- The vote follows stakedquant's methodology and multiple community requests — continuing Hyperliquid's proactive validator-driven governance approach.
Hyperliquid has put four assets on notice. The protocol has officially announced that its validators will vote on whether to delist $BLAST, $CHILLGUY, $FTT, and $TST from its perpetuals markets — with the vote scheduled for May 25, 2026 at 09:00 UTC.
The official announcement from @HyperliquidNews confirmed:
“Validators will vote on whether to delist BLAST, CHILLGUY, FTT, and TST around 25 May 2026 at 09:00 UTC, based on stakedquant’s methodology and community request. If validators vote to delist an asset, the perps will settle to the 1 hour weighted spot oracle price before the scheduled delisting voting time, and open orders will be canceled. Close any positions beforehand to avoid automatic settlement. After settlement, no new orders will be accepted.”
For anyone holding open positions in these assets on Hyperliquid — the action required is clear and time-sensitive: close before May 25 at 09:00 UTC.
What Happens If Validators Approve the Delistings
The mechanics of a governance-approved delisting on Hyperliquid are specific and worth understanding clearly:
| Event | What Happens |
|---|---|
| Settlement price | 1-hour weighted spot oracle price before the vote |
| Open orders | Automatically cancelled |
| Open positions | Automatically settled at the oracle price |
| New orders post-settlement | Not accepted |
The key risk for traders who do not act in advance: forced settlement at the oracle price at the time of the vote — which may not reflect where an actively managed exit would have been placed. Hyperliquid’s explicit guidance is to close positions well before the voting window — not at the last minute.
Why These Four Assets
The delisting proposal follows stakedquant’s methodology — Hyperliquid’s framework for evaluating whether listed perpetual markets continue to meet the platform’s quality standards — alongside multiple community requests to clean up the listings.
Each of the four assets has characteristics that make them candidates for review:
$BLAST — The Blast L2 network token — has seen significantly declining trading activity as the broader Layer-2 narrative has consolidated around more established ecosystems. Declining volume and liquidity on Hyperliquid’s BLAST perp have made it a natural candidate for review.
$CHILLGUY — A Solana-based memecoin — is representative of the short-lifecycle speculative assets that generated peak trading interest during 2024–2025’s memecoin season but have since seen volume collapse to levels that no longer justify a maintained perp market.
$FTT — The FTX exchange token — remains one of the most symbolic remnants of the 2022 crypto collapse. Despite occasional speculative bursts, FTT’s fundamental case has never recovered and its long-term trading activity on Hyperliquid has been minimal.
$TST — Has reportedly failed to meet the platform’s internal performance thresholds for sustained trading volume and ecosystem relevance.
Assets are evaluated on trading volume, liquidity depth, community engagement, and overall ecosystem relevance. The four named assets have collectively failed to maintain the activity levels that justify continued listing on a platform processing billions in daily derivatives volume.
Hyperliquid’s Governance Model — Why This Matters
As we covered in our CME and NYSE lobbying analysis and our Coinbase and Circle USDC partnership article, Hyperliquid has been navigating a complex regulatory and competitive environment in 2026. One of its strongest differentiators has been its on-chain governance model — where validators and stakers directly shape platform decisions rather than relying on centralised executive decisions.
This delisting vote is a direct expression of that model. Rather than quietly removing assets, Hyperliquid:
- Uses a transparent, published methodology (stakedquant)
- Takes community requests seriously
- Schedules votes with advance notice
- Gives traders clear time windows to manage positions
The result is a governance process that protects the platform’s quality standards while giving market participants the information they need to act responsibly. Traders who follow official channels and close positions in advance are protected. Those who ignore the announcement face automatic settlement.
What Traders Should Do Right Now
If you hold open positions in $BLAST, $CHILLGUY, $FTT, or $TST on Hyperliquid:
- Close your positions before May 25 at 09:00 UTC — Do not wait until the last hour. Oracle prices at settlement time may differ significantly from current prices.
- Cancel any open limit orders — Even if your position is closed, outstanding orders will be cancelled automatically at settlement. Clean up your order book in advance.
- Monitor official channels — Follow @HyperliquidX and @HyperliquidNews on X for any updates to the vote schedule, methodology, or outcome.
- Check the governance dashboard — Hyperliquid’s on-chain governance tracker will reflect the validator vote in real time as it progresses toward and through the May 25 deadline.
Community Reaction
Early community responses on X have been broadly supportive of the cleanup — with two distinct camps visible:
The “cleanup” camp — Traders and community members who view the removal of low-volume, low-relevance assets as a positive signal for platform quality. Removing dead weight perp markets concentrates liquidity into active markets — improving price discovery and execution quality for all traders.
The positioning camp — Traders already moving to close positions or rotate capital from the flagged assets into stronger markets ahead of the May 25 deadline — treating the announcement as a clear directional signal.
As we noted in our HYPE price and ecosystem analysis, HYPE is currently trading near $45+ with a +77%+ year-to-date performance — and a governance model that actively maintains listing quality is part of what supports the protocol’s institutional credibility at this price level.
Bottom Line
Hyperliquid’s validator vote to potentially delist $BLAST, $CHILLGUY, $FTT, and $TST is a routine but important governance action — and the deadline is real. If you hold positions in any of these four assets, the action required is simple: close before May 25 at 09:00 UTC.
This is Hyperliquid’s governance working as designed — transparent, community-driven, and giving traders the advance notice they need to manage positions responsibly. Whether all four assets are ultimately delisted or some survive the validator vote, the platform’s commitment to maintaining a high-quality trading environment is the signal worth noting.
Frequently Asked Questions
Which assets are being considered for delisting on Hyperliquid?
$BLAST, $CHILLGUY, $FTT, and $TST — with validators voting on May 25, 2026 at 09:00 UTC based on stakedquant’s methodology and community requests.
What happens to open positions if the vote passes?
Open positions are automatically settled at the 1-hour weighted spot oracle price before the scheduled voting time. Open orders are cancelled and no new orders can be placed after settlement.
What should traders do before May 25?
Close all open positions in $BLAST, $CHILLGUY, $FTT, and $TST before May 25 at 09:00 UTC — and cancel any outstanding limit orders to avoid automatic settlement at the oracle price.
Why are these four assets being reviewed?
All four have reportedly seen declining trading volume, reduced liquidity, or failed to meet Hyperliquid’s internal performance thresholds. $FTT is a FTX collapse remnant, $CHILLGUY a short-lifecycle Solana memecoin, $BLAST a declining L2 token, and $TST has failed to maintain activity levels.
Is the delisting confirmed?
No — the vote is scheduled for May 25. Validators could vote to keep some or all assets listed. Traders should monitor @HyperliquidX and @HyperliquidNews for the official vote outcome and any updates to the timeline.
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