Prop trading platform Hypernova raises $3M

Hypernova, a proprietary trading platform built on Hyperliquid (HYPE), has raised $3 million in a pre-seed funding round led by Lemniscap, The Block reported. Proprietary trading allows traders to use capital provided by a platform, rather than their own, and share the resulting profits. Hypernova aims to improve upon the opaque profit-sharing structures of traditional prop trading by using a smart contract-based system. The platform plans to generate revenue through trader evaluations and by allowing users to copy the positions of successful traders. The newly raised capital will be used to attract traders. Hypernova is scheduled to officially launch its platform within the next two months.