Hypha is a liquid staking platform on the Avalanche network that allows users to stake AVAX tokens while maintaining liquidity through the issuance of stAVAX, a derivative token that accrues staking rewards.

It routes deposited AVAX from the C-Chain to the P-Chain for delegation to validators, where automated strategies select high-performing operators including minipools, MEV extractors, and native validators to optimize yields, with rewards reflected back to stAVAX holders via periodic value updates.