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Hyper Tokens
Tokens

Risk

  • Leverage cuts both ways. Each token targets 2x to 6x the move of its assets. Losses are multiplied too.
  • Wipeout.
    • iVOL: Aims for about 6x the move of BTC between rebalances (~every 4h) in the same direction (before fees, funding and rebalancing; results can differ over time). A drop of about 17% could wipe it out; the vault position may be closed before that.
    • VOL: Aims for about 6x the move of BTC between rebalances (~every 4h) in the opposite direction (before fees, funding and rebalancing; results can differ over time). A rise of about 17% could wipe it out; the vault position may be closed before that.
    • BULL: Aims for about 3x the move of BTC and HYPE between rebalances (~every 4h) in the same direction (before fees, funding and rebalancing; results can differ over time). A drop of about 33% could wipe it out; the vault position may be closed before that.
    • iBULL: Aims for about 3x the move of BTC and HYPE between rebalances (~every 4h) in the opposite direction (before fees, funding and rebalancing; results can differ over time). A rise of about 33% could wipe it out; the vault position may be closed before that.
    • iBEAR: Aims for about 2x the move of BTC, ETH and SOL between rebalances (~every 4h) in the same direction (before fees, funding and rebalancing; results can differ over time). Lower leverage, same risk of loss: a large adverse move can erase most or all value.
    • BEAR: Aims for about 2x the move of BTC, ETH and SOL between rebalances (~every 4h) in the opposite direction (before fees, funding and rebalancing; results can differ over time). Lower leverage, same risk of loss: a large adverse move can erase most or all value.
  • Rebalancing. The token rebalances about every 4 hours or after a 10% move. In choppy markets those resets lose money even if prices end flat. Over several days, returns can differ a lot from N times the move of the assets, especially in choppy markets.
  • Costs inside the token. Management fee, trading fees and funding reduce value over time.
  • Liquidity. Instant sells are limited by the USDC the vault holds. Vaults can be paused.
  • Admin control: the vault admin can pause withdrawals, change settings and upgrade code without an on-chain timelock. Who holds the keys.
  • Smart contracts and bridges. Contracts can have bugs; bridges add delay and their own risk.
  • Past changes shown on this site are not a forecast.