Nest is a ve(3,3) decentralized exchange on HyperEVM that positions itself as the spot liquidity, growth, and yield layer of the Hyperliquid ecosystem. Liquidity providers earn NEST emissions, and holders who lock NEST into veNEST vote each week to direct those emissions across pools, collecting the trading fees and voting incentives from the pools they support. A protocol-owned position called the HYPE Engine converts its voting rewards into HYPE and distributes it to veNEST participants.
Nest launched on HyperEVM in November 2025 as a ve(3,3) MetaDEX built on Algebra pools. veNEST voters receive all trading fees and third-party voting incentives from the pools they vote for, with no protocol fee taken. The HYPE Engine, a permanently locked protocol-owned veNEST position, uses its voting rewards to acquire HYPE and streams that HYPE to users of the HYPE Engine Vault, which auto-votes and compounds deposited veNEST.
The team is pseudonymous: CEO @satsyxbt and COO Telaga both previously worked on Blast, and CSO @ace_da_book previously worked at Aerodrome. Nest has no foundation or development company. Contract administration sits with a 3-of-5 team multisig, implementation upgrades pass through a 24-hour timelock, and development and backend operations are contracted to Aegas.
NEST launched with a 1 billion token initial allocation and has no maximum supply, since new NEST is minted each weekly epoch, 95% to liquidity providers and 5% to a voting-incentives reserve. The Team, Ecosystem Fund, Assistance Fund, and HYPE Engine allocations are held as permanently max-locked veNEST, and 50 million NEST was airdropped as locked veNEST to veFNX holders of Fenix on Blast. Before launch, Nest raised $670,000 in an angel round, $150,000 in an Echo round, and $120,000 in a community round, each at a $20 million FDV.
