# What is HLP?

HLP (Hyper Liquidity Provider) is Hyperliquid’s main protocol vault. Unlike a user-run vault, HLP is a protocol-managed, community-owned vault that helps power the exchange itself.

### **HLP Functions**

* Provides liquidity to Hyperliquid through multiple market-making strategies
* Performs liquidations
* Supplies USDC in Earn
* Accrues a portion of trading fees

Due to core functionality of this vault, it has historically performed very well; though past performance is not indicative of future performance.

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### **HLP lock-up period**

HLP has a 4-day deposit lock-up period, meaning withdrawals become available 4 days after your most recent deposit.

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