Ventuals vHYPE Token Faces Withdrawal Run, Platform Sets 85% Redemption Floor for HYPE Exit

Ventuals experienced a withdrawal rush on March 16 that briefly drove its HYPE liquid staking token vHYPE down to $9 before rebounding to $31, while the underlying HYPE token trades at $37.50 and vHYPE remains at roughly an 18% discount, BlockBeats reports. Ventuals, built on Hyperliquid HIP3, stakes at least 500,000 HYPE to operate a perpetual futures subDEX and issues vHYPE in exchange for user HYPE deposits, but its treasury is now close to the 500,000 HYPE minimum, prompting user concerns and redemption pressure. CEO Alvin Hsia said this reflects the protocol's design rules rather than a bug and noted that withdrawals will be halted once the treasury nears the threshold to prevent disruption to traders in Ventuals markets. The platform is working with private LPs to expand its HYPE balance, and Ventuals and its partners plan to offer redemptions at a 0.85:1 vHYPE-to-HYPE rate via major secondary liquidity pools, setting a maximum 15% discount as an exit option for users needing immediate liquidity.