Hyperwave will cease operations on December 16th; the vault will only support withdrawals.

Hyperwave, a DeFi project within the Hyperliquid ecosystem, has announced it will cease operations on December 16th due to operational costs and regulatory uncertainties. Users must complete withdrawals before this date; any remaining net asset value will then be returned to wallets holding Vault tokens. Currently, all vaults only support withdrawals, and GWAVE can be uncollateralized at any time. Before closure, the vaults will continue to generate income and convert funds into underlying assets, with 100% of the income used to buy back and burn HWAVE.