> For the complete documentation index, see [llms.txt](https://docs.tryliquid.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tryliquid.xyz/vaults/what-is-hlp.md).

# 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.

<figure><img src="/files/uH2sJeGXG0370eeHAHJ0" alt=""><figcaption></figcaption></figure>

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

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

<br>