Trade options & perpetuals on stocks, commodities, FX, and crypto — with pro-tier portfolio analytics and AI-powered automatic execution. All on-chain, all self-custodied.
Seed Round · $4.5M · Own L1 Chain
The Problem
Options are the largest derivatives market globally — yet almost no one outside Wall Street can access them. The few who can face high fees, custodial risk, and zero tooling.
excluded from derivatives
Traditional options require broker accounts, KYC, minimum balances, and are geo-restricted. Most of the world has no access to derivatives markets at all.
lost in exchange collapses
Centralized exchanges hold your money. When they fail (FTX, MF Global), traders lose everything. Settlement risk is constant. Self-custody is non-negotiable.
retail DeFi options adoption
Every DeFi options protocol (Opyn, Lyra, Hegic) targets whale users with 2-5 crypto assets. No protocol offers options on equities, commodities, FX, or bonds.
per year for a Bloomberg terminal
Even Deribit and Robinhood give traders a dumb order form. No risk analytics, no portfolio construction tools, no strategy intelligence. Bloomberg costs $25K/year.
The Solution
A full-featured RWA derivatives exchange with pro-tier portfolio analytics and AI-powered automatic execution — all self-custodied and permissionless.
345+ instruments across 6 asset classes: equities, commodities, FX, bonds, ETFs. All synthetic, all on-chain.
Portfolio construction suite with risk decomposition, scenario analysis, Greeks visualization, and P&L attribution.
19 multi-leg strategy templates with AI recommendations, 1-click execution, smart delta hedging, and live P&L monitoring.
Self-custody via audited vaults. No KYC, global access. On-chain settlement. 0% fees during growth phase.
Architecture: Centralized Rust matching engine for sub-ms execution. Decentralized settlement on a purpose-built L1 chain. Chainlink + Pyth oracles. Best of both worlds — inspired by Hyperliquid's proven model.
Product
Options give 1,000×+ asymmetric returns on far OTM calls — bigger than 100× perp leverage. Perps went viral because of leverage. Options will go viral because of asymmetric payoffs. HyperDex is the only permissionless platform positioned to capture both.
Defensible Moat
Any team can fork a matching engine. Nobody can fork intelligence. HyperDex's real moat is the analytics and AI layer built on top of our exchange — features no competitor has.
BlackRock and Bloomberg-level tooling built directly into the protocol. Every trader gets institutional-grade risk management for free.
AI analyzes market events, earnings, and SEC filings to recommend optimal strategies. One-click execution deploys multi-leg positions with automatic delta hedging.
Free
Pro analytics on growth phase
19
AI-powered strategy templates
1-Click
From signal to fully hedged position
Market Opportunity
$1.5Q
Global Derivatives Notional
Annual volume (BIS, 2024)
$40B
Crypto Options Monthly
Growing 100%+ YoY
<0.1%
DeFi Options Share
Massive whitespace
Equity Indices
S&P 500, Nasdaq-100, DAX, Nikkei
Single Stocks
AAPL, NVDA, TSLA, META, GOOGL
Commodities
Gold, Silver, Crude Oil, Nat Gas
Foreign Exchange
EUR/USD, USD/JPY, GBP/USD
Fixed Income
US 10Y, 2Y Treasury, Bunds
ETFs
SPY, QQQ, IBIT, GLD, TLT
No existing DeFi protocol offers options on equities, commodities, FX, or bonds. HyperDex is the first mover in on-chain RWA derivatives with pro analytics and AI.
Competitive Landscape
| Feature | HyperDex | Hyperliquid | Deribit | Ostium | Robinhood |
|---|---|---|---|---|---|
| RWA Options (Equities, FX, Commodities) | ✓ | ✗ | ✗ | ✗ | ✓ |
| Crypto Options | ✓ | ✗ | ✓ | ✗ | ✗ |
| Perpetual Futures | ✓ | ✓ | ✓ | ✓ | ✗ |
| RWA Perps (Indices, Gold, FX) | ✓ | ✗ | ✗ | ✓ | ✗ |
| AI Strategy Engine | ✓ | ✗ | ✗ | ✗ | ✗ |
| Pro Portfolio Analytics | ✓ | ✗ | ✗ | ✗ | ✗ |
| On-Chain Settlement + Self-Custody | ✓ | ✓ | ✗ | ✓ | ✗ |
| No KYC / Global Access | ✓ | ✓ | ✗ | ✓ | ✗ |
| CLOB Orderbook | ✓ | ✓ | ✓ | ✗ | ✓ |
| 0% Protocol Fees (Growth Phase) | ✓ | ✗ | ✗ | ✗ | ✗ |
Hyperliquid
Crypto perps only. No options, no RWAs, no analytics. $16B+ daily volume proves CLOB demand.
Ostium
RWA perps only. No options, AMM-based, no strategy tools. Raised $3.5M seed + $24M Series A.
Robinhood / Deribit
CeFi. KYC required, custodial, geo-restricted. No AI, no analytics. Legacy architecture.
HyperDex is the only protocol combining RWA options + perps, self-custody, pro analytics, AI strategies, and 0% fees.
Traction
345+
Assets Listed
6 asset classes
Testnet
Live Now
Full order matching
Rust
Engine Complete
Options + Perps
19
AI Strategies
Auto-executed
Roadmap
Mainnet launching across 30+ chains in 2026, then our own L1, then a sustained push into institutional flow.
Launch options & perpetuals across 30+ EVM and non-EVM chains. TGE on 1 Jul 2026.
Purpose-built L1 optimized for derivatives. Sub-100ms order matching, native risk engine, on-chain CLOB.
Production-grade backtester. Major upgrades to automatic strategy algorithms for options & perps.
Launch prediction markets and copy trading. Reposition GTM from retail to institutional desks, prop firms, family offices.
Extend the options book beyond TradFi underlyings to include crypto majors and long-tail assets. Same engine, broader market.
Business Model
Protocol revenue funds programmatic HDX buybacks distributed to stakers. Token utility is tied directly to network usage.
Maker/taker on perps & options. 0.01%/0.04% volume-tiered.
0.5-1.0% of liquidated notional, routed to insurance fund and stakers.
10% performance fee on profits from managed strategy vaults.
Bloomberg-grade analytics, automated algos, copy trading. $199-$999/mo.
Listing fees and revenue share from protocols launching markets.
Block production rewards and MEV capture once HyperDex L1 launches.
Token Utility - Value Accrual
Tokenomics
Investor terms equal team terms. Long-locked Strategic Reserve avoids future overhang. ~8.5% initial circulating at TGE.
Total Supply
1,000,000,000
Fixed cap
TGE Date
1 Jul 2026
Mainnet + token launch
Initial Circulating
~8.5%
Liquidity + ecosystem + foundation
Token Distribution
Investor Vesting
6mo cliff + 24mo linear
$0.03 / HDX at $30M FDV
Team Vesting
6mo cliff + 24mo linear
Aligned with investor terms
Strategic Reserve
12mo cliff + 36mo linear
Long lock, no early overhang
Team
Built end-to-end by one operator. The same model that produced Hyperliquid.
Built the entire HyperDex protocol end-to-end: matching engine, perpetuals and options markets, on-chain settlement, vault product, AI strategy engine, analytics suite, and the full frontend. Leads engineering, product, and capital formation.
First key hires post-round: senior smart-contract engineer, market-maker liaison, growth lead. $800K Engineering budget supports lean team through mainnet + 12 months of operations.
The Ask
$4.5M
Seed Round · SAFE + Token Warrant
$25.5M pre-money · $30M post-money · 15% equity / 15% HDX supply · 24-month runway
345+ RWA markets. Options & perps. Pro-tier analytics. AI-powered execution. Self-custodied. Zero fees.
The $1.5Q derivatives market is coming on-chain — and HyperDex is the platform it's coming to.