HyperLend, a lending protocol on HyperEVM, announced the launch of a Veto Council to strengthen its security measures. According to Foresight News, the Veto Council is a protection committee made up of core partners, investors, and key members of the Hyperliquid community.

The committee is designed to serve as a backup mechanism that can cancel queued protocol multisignature transactions if the core team is compromised.

HyperLend also said the first season of HYPE treasury rewards will officially go live on June 26. The protocol said users must maintain positions for at least 45 days to qualify to claim interest rewards.