> For the complete documentation index, see [llms.txt](https://docs.usenest.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usenest.xyz/start-here/1.1-what-is-nest.md).

# 1.1 - What is nest?

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**Welcome to nest, the Hyperliquid Spot Growth & Yield Machine.**

nest is the liquidity, growth, and yield layer of Hyperliquid. It helps assets launch, bootstrap liquidity, and scale into HyperCore - all while converting protocol revenue into HYPE for long-term holders.

On Hyperliquid, HYPE is the dominant store of value. If you build on HyperEVM but your protocol doesn't connect to HYPE value accrual, you end up with a disconnect: apps grow, tokens rotate, but the chain's core asset doesn't fully capture the upside.

nest closes that gap. From launch to HyperCore, every swap and liquidity flow routes through the [HYPE Engine](/nest-explained/2.6-hype-engine.md) - converting protocol revenue into HYPE, deepening liquidity, and strengthening alignment between builders, traders, and long-term holders.

***

### What you can do on nest

* **Swap** any supported HyperEVM token with best-execution routing
* **Provide liquidity** across three pool types (Classic, CLAMM, Automatic) and earn NEST emissions
* **Lock NEST** for veNEST: earn 100% of protocol trading fees and rewards. Vote to direct emissions and capture them.
* **Vote** each epoch to allocate NEST emissions to pools of your choice
* **Deposit into HEV** for automated voting, fee compounding, and Liquid HYPE rewards

{% hint style="info" %}
**Key distinction:** LPs earn NEST emissions — not trading fees. Trading fees go to veNEST holders. This is the core mechanic of a MetaDEX.
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