Eyenovia, Inc. has announced the launch of a co-branded validator node on the Hyperliquid blockchain, marking its initial foray into decentralized finance. Partnering with Kinetiq, a liquid staking protocol, the micro-cap company introduced the validator under the name “Kinetiq x Hyperion,” leveraging a recently acquired treasury of over 1 million HYPE tokens. This move signals a broader strategic shift for the firm, which is traditionally recognized for its ophthalmic technology innovations.
The validator node, intended to support the security of the Hyperliquid network, will be technically maintained by Pier Two, an institutional staking service provider known for its SOC 2 Type I and II certifications. Hyperliquid, a layer one blockchain designed for high-frequency trading, features on-chain perpetual futures and spot order books with rapid 70-millisecond block times. Eyenovia’s entry into this ecosystem suggests a deepening involvement in digital asset infrastructure.
Company executives outlined that the validator aligns with Eyenovia’s goal of enabling secure and composable liquid staking within the Hyperliquid environment. While the firm is navigating financial headwinds, recent trading data from InvestingPro shows an 86.75% rise in the company’s stock over the past week. Despite ongoing challenges such as weak gross profit margins and accelerated cash usage, the launch of this validator node represents a shift toward a more diversified and innovation-driven business strategy.
Historically focused on ophthalmic solutions, particularly its Optejet User Filled Device designed for topical eye treatments, Eyenovia has expanded its operations to include a strategic HYPE token treasury. It is now considered the first publicly listed U.S. firm to declare the formation of such a treasury on Hyperliquid. The HYPE token offers utility through reduced trading fees and enhanced referral bonuses when staked, and as of June 2025, it ranks as the 12th-largest cryptocurrency by market capitalization.
Beyond token acquisition, Eyenovia is aiming to extract further value from the Hyperliquid ecosystem by actively participating in network validation. This broader engagement could yield long-term benefits beyond holding digital assets. Forecasts suggest a 65.92% increase in revenue for the company in FY2025, and investors are being encouraged to explore detailed financial projections via platforms like InvestingPro.
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— Hyperliquid News (@HyperliquidNews) June 25, 2025
In a parallel development, Eyenovia has restructured its senior secured debt agreement with Avenue Capital Group. This revision extends the loan’s maturity to July 2028 and reduces the interest rate from 12% to 8%. The firm also announced a $50 million private placement to support its crypto initiatives, with plans to surpass 1 million HYPE tokens in its holdings. Hyunsu Jung has been appointed as Chief Investment Officer to lead these efforts, reflecting the company’s commitment to becoming a top validator on Hyperliquid.
In addition, Eyenovia is engaged in merger discussions with Betaliq, a private pharmaceutical firm. The exclusivity period for these negotiations has been extended to June 2025. If completed, the merger could bolster Eyenovia’s core ophthalmic business, particularly as it prepares for an FDA submission of the Optejet device, anticipated by September 2025.
The firm has also reported progress in financial sustainability, reducing its quarterly net loss to $3.5 million in Q1 2025, a substantial improvement from $10.9 million in the same period the previous year. Alongside this, amendments to its agreement with Avenue Capital now prevent lenders from converting debt to equity if doing so would exceed 9.99% ownership of Eyenovia’s outstanding common stock.
While continuing to focus on ophthalmology, Eyenovia’s diversification into blockchain technology and digital assets marks a bold transformation in its operational and strategic direction, positioning the firm at the intersection of biotech and decentralized finance.