Hyperion DeFi’s Strategic Pivot: Generating Yield from Crypto Holdings

The company formerly known as Eyenovia has completed a dramatic transformation, shifting its core business from ophthalmic medical technology to active cryptocurrency strategy. Hyperion DeFi, now trading under the ticker HYPD, is leveraging its substantial digital asset reserves to create a new revenue model, marking a decisive move in the strategy initiated with its corporate rebranding last year.

A private placement raising $50 million in June 2025 provided the capital for Hyperion DeFi's entry into the crypto space. Management deployed these funds to acquire an initial one million HYPE tokens, the native asset of the Hyperliquid protocol. This acquisition formed the foundation for the company's current operational focus.

The firm's latest initiative involves launching an institutional-grade "Volatility Income Vault." This product is designed to put the company's HYPE token holdings to work by using them as collateral for writing on-chain options. The primary objective is to transform the corporate treasury into a dynamic, multi-layered source of yield, moving beyond passive asset holding.

Building a Comprehensive Crypto Operation

Hyperion DeFi's current portfolio holds 1,427,178 HYPE tokens. The management of these assets is multifaceted. In addition to the new volatility vault, the company operates its own network validator and has entered a partnership with the Rysk protocol. This integrated approach aims to generate returns through a combination of staking rewards and yield from collateralized financial products.

Should investors sell immediately? Or is it worth buying Eyenovia?

The underlying Hyperliquid network is a Layer-1 blockchain engineered for high-frequency trading. It incorporates an automated buyback mechanism, where a portion of all trading fees is used to permanently remove HYPE tokens from circulation, thereby applying deflationary pressure on the token's supply.

A Completed Transformation

The shift away from its previous identity, which included FDA-approved medical products, to a focus on decentralized finance protocols is now largely complete. The company's short-term roadmap centers on scaling the capacity of its Volatility Income Vault and fostering further development within the broader Hyperliquid ecosystem.

For shareholders, the critical question remains the long-term viability of this radical industry shift. The coming months will be a key test, revealing whether the yields generated from these on-chain strategies can provide stable, sufficient returns to sustain the company's new market valuation. The success of this crypto-centric model hinges on the consistent performance of its deployed capital.