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The vaults that died, counted, because a survival rate cannot be computed from the survivors.Note 19
One venue. Every count here is Hyperliquid’s, because it is the venue that publishes its dead: the vaults it has ever listed, whether they are open, closed or left holding dust. Other venues appear elsewhere on this site and not in this population, a survival rate computed across venues that do not publish their closures would be computed from the survivors, which is the error this page exists to name.
56 days of census, one reading a day, from 12 August 2026. That is short, and it is short because we started recording it then rather than because nothing happened before. This is a reading we took and stored rather than an event a chain kept, so the series itself begins when we began; the underlying activity may well be reconstructable from an archive node or the venue’s own history, and we have not done it.
Measured across 231 rated vaults, which is 2.4% of the 9,476 the venue has ever listed. 84.9% are closed or abandoned and are not in any average here. Between them they hold 0.3% of the venue's capital, which is why coverage by capital is 99.7% while coverage by vault is only 2.4%.
Both figures are true and quoting either alone is misleading. By count we cover a fortieth of the venue; by capital, almost all of it. The gap is the graveyard, thousands of vaults that were opened, never funded or quietly abandoned, and which no ranking anywhere will ever show you. Of the 85 we have watched stop, the median lasted 361.6 days.
Method and limits in the methodology. This page is free and will stay free: it is what makes everything else here worth reading.