Paper vaults on live Hyperliquid prices every hour. No vault takes money.
AB

Hedged Vaults

Not open yet

Stay in the market. Covered.

A vault holds the coins and keeps a matching bet against them on Hyperliquid, so a crash hits you far less.

−24.3%no cover
Half Cover, same test:−12.2%
Full Cover, same test:about 0%
Paper vaults running since:—
See The Vaults Paper only. No deposits.
A black circuit-board cube with a glowing green AB panel on its face

The Vaults Paper

Three vaults, the same coins inside (Solana, Bitcoin, Hyperliquid), three levels of cover. Each one runs as a paper vault on live prices, every hour, from the moment the record started.

Paper Record Paper, live

What $100 has become in each vault since the record started, next to just holding the same coins. Updated a few minutes past every hour.

The paper record above uses the same simple maths as the test. For the vault contract's exact rules, filled order by order on Hyperliquid's live books with real fees, see Proof.

The Test Test on past prices

The same maths run over the 180 days before the record started. What $100 would have become in each vault.

Inside A Vault Paper

What a $1,000 paper deposit in Half Cover holds right now.

How It Will Work

The plan for the real vault. None of this is built yet.

1

Deposit

Put dollars into the vault contract. It sends you vault shares. The money sits in the contract, not in a wallet we hold.

2

It Buys And Hedges

The contract buys the coins on Hyperliquid and opens the matching bet against them at its cover level.

3

It Stays Fitted

As prices move, the bet is resized so the cover level holds. Every resize is checked by the contract before it goes out.

4

Withdraw

Ask for your share back. It is paid at the vault's price a few seconds later, when the trades land. Nobody has to approve it.

Your Money

Who can do what with a deposit, in the planned design. The contract is not written yet.

What the contract will enforceRules written into the vault's code on HyperEVM, Hyperliquid's own chain
Deposits go into the vault contract and you get shares back. They never pass through a wallet we hold.
It can trade only a fixed list of markets: the coins in the vault and the matching bets against them.
Every trade must move the hedge toward its cover level, at a price close to Hyperliquid's own reference price.
The bets run at low leverage (aim 2×, hard limit 3×). To keep them safe, part of the vault sits as dollars behind the bets instead of in coins.
Deposits and withdrawals are priced when they settle, a few seconds after you ask, so nobody can jump ahead of a price move.
What we doEverything we run sits outside the contract and has no power over the money
Run a small program that tells the contract when to resize. It picks when, never what: there is no key that can trade freely.
Publish the cover rule before a vault opens, and never change it quietly.
Take a share of profit only, above the vault's previous high. Nothing on deposits.
Post a receipt after every red day, with a link to every order.
Before anyone else's money goes in: the contract is built and tested on Hyperliquid's test network, then run with the founder's own money only. Open deposits wait for a legal basis and an outside audit of the code.

What It Can't Do

Read this before you trust any number on this page.

Cover costs you the climb.

Holding made +18.1% in the test. Half Cover made +12.6%. That gap is the price.

It can still lose.

Half Cover fell 12.2% at its worst in the test. Only Full Cover stayed flat.

Holding costs flip.

In the test the bet was paid to exist on average. On some hours it pays instead.

Not every dollar is in coins.

Part of a vault sits as dollars behind the bets, so it rises less in a rally. In Full Cover that could be a quarter to a third.

Seconds of delay.

Trades sent by the contract land a few seconds later. Deposits and withdrawals settle at the price then, not when you asked.

Bridged coins.

Bitcoin and Solana on Hyperliquid are bridged copies. If the bridge fails they can lose value the hedge does not cover.

Code can fail.

A bug in the contract can lose money. That is why it gets an outside audit before open deposits.

Paper is not money.

The paper record ignores slippage, the gap between coin and bet prices, and the dollars held behind the bets. The test is past prices.