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

# Tokenizing the HLP

Historically, tokenizing a profitable yield strategy has accounted for a significant portion of total DeFi TVL. The HyperLiquid HLP offers a new source of scalable yield — yield that is typically hoarded by market makers on centralized exchanges — to the permissionless DeFi ecosystem.

Hyperliquid has the potential to scale another 10x in crypto native trading volumes, before tapping into tradfi liquidity. This step alone could bring HLP to a $3-5B TVL Vault. History shows that the majority of liquidity providers prefer a liquid tokenized solution, which allows for quick entry and exit as well as use in secondary DeFi opportunities.

A good tokenized HLP offers:

* Very High Liquidity
* Trustworthy Peg Maintenance
* Cross Chain Compatibility
* Trust Minimization

bbHLP will effectively deliver on all 4, paired with a variety of secondary yield opportunities (see [partners and integrations](/partners-and-integrations.md)).