Nunchi partners with Based to launch Yield Perps derivatives service

Yield-Perp protocol Nunchi has launched an interest rate derivatives service, Yield Perps, through a strategic partnership with on-chain trading platform Based, the protocol announced on its official X account. The service is built on Hyperliquid's HIP-3 framework and allows users to trade derivative interest rates, staking yields, and funding rates in real-time. Nunchi explained that while traditional DeFi methods required users to lock up assets for a set period to earn returns, Yield Perps is designed to allow users to take long or short positions on yield metrics while maintaining capital liquidity.