# HyperionX Introduction HyperionX (HPX) is the first decentralized derivatives trading platform in the blockchain world with a Fair Launch. Built on the high-performance ZKFair technology, HPX prioritizes user experience, offering an interaction comparable to centralized exchanges while ensuring the security and transparency of decentralization.\ Key features of the HPX platform include: * Up to 100x leverage in isolated margin trading. * Support for a diverse range of long-tail asset trading. * Web2-style login for user convenience. * Pop-up-free experience (requires 1CT activation). * High scalability, including options products and other functions. \ Formed by experienced members from top derivatives teams and market-making teams, HPX has undergone careful planning covering aspects such as system architecture, product development, and long-term operational strategies.\ Innovative optimizations have been applied to the underlying trading mechanisms, including a comprehensive stablecoin pool, efficient liquidation mechanisms, and a flexible parameter configuration system to accommodate new coin listings.\ The theoretical point-to-pool trading model of HPX can support contract trading for any asset with publicly available price feeds. With the support of HPX's flexible parameter configuration system, a faster market entry experience can be provided for new and trending coins by adjusting leverage, comprehensive fee parameters, and isolated liquidity capacity. # Perpetual Contract # Perpetual Contract Introduction HyperionX offers perpetual contracts denominated in U, a digital currency contract product settled in the platform's stablecoin, USDX. Each contract represents a certain amount of digital currency, allowing investors to profit from the price fluctuations of the currency by buying long or short contracts. The leverage of these contracts ranges from 1 to 100 times, with different contracts having different maximum leverage limits.Taking the BTCUSD contract as an example: | **Key Features** | **Specifications** | | ------------------- | --------------------------------------------------------------------------------------------------------- | | Underlying Asset | BTC/USDX Index | | Settlement Currency | USDX | | Contract Size | 0.0001 BTC | | Index Price | USDX equivalent for 1 BTC | | Tick Size | 0.01 | | Leverage | 1-100x | | Trading Hours | 24/7 | | Funding Time | Funding fees are collected on 4 hourly basis | | Trading Fee | [0.08%，click for discount information](https://t7ge7lwq86.larksuite.com/wiki/N3VMwoybFipUDFkJLSUuNjT6sHg) | ### Product Features 1. **Isolated Margin** Currently, the platform only supports isolated margin trading. Isolated margin means the margin for a single currency position is independent of the user's trading wallet balance and other currency positions. This allows users to precisely control their position leverage and avoid the risk of liquidation due to excessive leverage. For example, if you trade perpetual contracts in both BTCUSD and ETHUSD at the same time, the margins for these two positions are independent, and profits and losses are borne separately. If one position is liquidated, it will not affect other positions in the user's account. 2. **Expiration Date** Perpetual contracts do not have an expiry or settlement date; they are non-expiring. 3. **Pricing System** HyperionX uses an oracle-based pricing mechanism. Depending on the liquidity of the currency, there are two types of pricing mechanisms: DEX and CEX. An exceptional handling logic is also set up to ensure that when there is a significant deviation in the prices of the exchanges, the platform's price fluctuations remain within a normal range. For more details, see the [pricing mechanism](/perpetual-contract/price-feeding-mechanism) section. 4. **Maintenance Margin Rate System** The maintenance margin rate is the minimum margin rate required for a user to maintain their current position. Liquidation (forced closure) is triggered when the margin rate falls below the maintenance margin rate plus the liquidation fee rate. For more details, see the [liquidation mechanism](/perpetual-contract/liquidation) section. 5. **Maximum Profit** The maximum profit mechanism is used to protect LPs and ensure liquidity provision. When a user's position reaches maximum profit, a maximum profit liquidation will be triggered, and the platform will close the position at the marked price for contracts that have reached maximum profit. Maximum profit is typically 10 times the margin. For more details, see the [maximum profit](/perpetual-contract/max-profit) section. 6. **Funding Fee Mechanism** Since perpetual contracts do not have an expiry date, a funding fee mechanism is needed to anchor the contract price to the spot price. Funding fees are collected every 4 hours. Users only need to pay or receive funding fees if they hold a position at the time of collection. If the position is closed before the fee collection, no funding fee is payable. For more details, see the [funding fee](/perpetual-contract/fees/funding-fee) section. # Price Feeding Mechanism The oracle provides pricing for perpetual contract trading pairs. HyperionX classifies currencies based on liquidity into DEX (Decentralized Exchange) and CEX (Centralized Exchange) currencies. Below, we describe the oracle implementation for these two types of currencies.
#### Decentralized (DEX) Currencies DEX Currencies: These are currencies whose liquidity is primarily concentrated in decentralized exchanges. Taking UNIBOT as an example, we explain the price feeding mechanism. * **Calculating the UNIBOT/USD Price** HyperionX selects the pool with the highest liquidity on Uniswap (for example, the UNIBOT/WETH v2 pool), obtains the UNIBOT price, and converts it into the USD price. #### Centralized (CEX) Currencies Currencies with liquidity concentrated in centralized exchanges are collectively referred to as CEX currencies. Here, we use ETH as an example to explain the price feeding mechanism. 1. **Calculating USDT/USD Price** HyperionX has selected the USDT/USD prices from four exchanges including Coinbase, and the median value is taken as the fair USDT/USD price. 2. **Calculating ETH/USDT Price** HyperionX chooses the ETH/USDT prices from five exchanges with good liquidity, such as Okx, and calculates the median price. Prices significantly deviating from the median are treated as anomalies. Finally, the average of these values is calculated to establish the fair ETH/USDT price. 3. **Calculating ETH/USD Price** The fair USDT/USD price and ETH/USDT price are multiplied to obtain the ETH/USD price.
# Isolated Margin There are two types of position margins: cross margin and isolated margin. Currently, the HyperionX platform only supports isolated margin.Isolated margin refers to the margin of a position being independent of the user's Exchange Wallet balance. If a position is liquidated, the trader will only lose the margin of that specific position. Therefore, under isolated margin mode, the position margin is: **Position Margin (Isolated Margin Mode) = Initial Margin + Adjustment Margin for that Position** The advantages of isolated margin include: 1. Independent accounts ensure that the profit and loss of one position do not affect others. 2. Individual liquidation of a position does not impact the status of other positions. 3. Precise leverage control allows effective management of leverage for each position, managing them separately to avoid excessive leverage. **Example** 1. User A opens an ETH position with 100 USDX at an ETH price of 2,500, using 10x leverage, which means the initial margin is 10 U. When the market fluctuates and the ETH price drops to 2,400, the unrealized profit and loss is -4 USDX, the remaining margin is calculated as follows: 100/10 + 100 \* (2,400 - 2,500) / 2,500 = 6 USDX
2. User A has 1,000 USDX in his Exchange Wallet. He uses 500 USDX as margin to open a 20x leveraged ETH perpetual short position. However, due to fluctuations in the ETH price, User A's position gets liquidated. In this case, using the isolated margin model, User A only loses the 500 USDX used for the ETH position. The remaining 500 USDX in his Exchange Wallet remains unaffected. # Liquidation Liquidation, also known as forced closure, is a protective mechanism triggered when the value of a user's position in a particular currency falls below the minimum maintenance margin.**Basic Fields and Their Meanings** | Name | Meanings | | ----------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Maintenance Margin | In an account's particular currency assets, this is the amount of margin for the current perpetual contract positions. There is generally a minimum requirement for the maintenance margin. If it falls below this minimum, it triggers a forced liquidation. | |

Margin Ratio

| Margin Ratio = (Initial Margin + Unrealized Profit/Loss in the Position) / (Maintenance Margin Required for the Position Size + Liquidation Fees). The platform's current minimum margin ratio is 0.50%. | 1. Minimum Maintenance Margin = Position Size \* Mark Price \* Maintenance Margin Ratio + Estimated Liquidation Fees. 2. The typical maintenance margin ratio is usually around 0.50%. 3. After liquidation of a specific currency, the balance in the user's Exchange Wallet and other positions will not be affected. **Case** | Trading Pair | BTC/USD | | ---------------------- | --------- | | Long/Short | Long | | Margin（$） | 1,000.00 | | Entry Price （$） | 42,704.00 | | Leverage | 5.00 x | | Size | 0.117 | | Mark Price（$） | 41382.19 | | MaintenanceMarginRatio | 0.50% | | TradingFeeRate | 0.08% | | Est. Liq. Price（$） | 34,356.26 |
# Max Profit The Maximum Profit Mechanism, designed to protect Liquidity Providers (LPs) and ensure the provision of liquidity. When a user's position reaches the max profit, a max profit liquidation will be triggered. Hyperion Exchange will liquidate the contract position that has achieved the max profit at the mark price. Max profit is typically set at 10 times the margin. (This may vary slightly for different currencies.) 1. Max Profit = Margin \* Max Profit Multiplier 2. For Long Positions: Max Profit Price = Entry Price + Max Profit / Size 3. For Short Positions: Max Profit Price = Entry Price - Max Profit / Size When liquidating for max profit, it's necessary to account for the liquidation fees deducted at the time of closure.For the max profit multiplier of different trading pairs, please refer to the detailed data of perpetual contracts.Upon triggering max profit, the profit is independent of the leverage used for the position and is solely related to the max profit multiplier for that particular currency. **Case:** | Trading Pair | BTC/USD | | ------------------- | ---------- | | Collateral（$） | 10,000.00 | | Entry Price（$） | 40,000.00 | | Leverage | 40.00 x | | Size | 10 | | MaxProfitMultiplier | 10 | | Max Profit（$） | 100,000.00 | | Max Profit Price（$） | 50,000.00 | | Close Price（$） | 50,000.00 | | Fees（$） | -100 | | PnL（$） | 99,900.00 |
# Fees # Trading Fee Transaction fees refer to the costs associated with opening and closing positions. Optimized according to industry standards, the following fee structure has been established: * Standard Opening and Closing Position Fee Rate: 0.08%. * Recipient: Vault Hyperion Exchange sets VIP levels for users based on their perpetual contract trading volume over the past 30 days. Each VIP level is eligible for corresponding transaction fee reductions.The specific rules are as follows: | 0 | <=50,000 | 0% | 0.080% | | - | ----------- | --- | ------ | | 1 | >50,000 | 5% | 0.076% | | 2 | >500,000 | 10% | 0.072% | | 3 | >2,500,000 | 15% | 0.068% | | 4 | >5,000,000 | 30% | 0.056% | | 5 | >10,000,000 | 50% | 0.040% | | 6 | >25,000,000 | 80% | 0.016% | Calculation of VIP Level: Calculated daily at 0:00 (UTC+0). 1. Transaction Fee = Position Size \* Opening Price \* Opening/Closing Fee Rate 2. The fee rate may vary for each trading pair. For specifics, please refer to the perpetual contract specifications. 3. Method of Collection: Fees are primarily deducted from the Exchange wallet. If the balance in the Exchange wallet is insufficient, the fees are recorded in the margin and deducted collectively at the time of position closing. **Case** | Trading Pair | ETH | | ------------ | ------------ | | FeeRate | 0.08% | | Price | 2500 USD/ETH | | Size | 4 ETH | | Position | 10000 USD | | Trading Fee | 8 USD |
# Price Impact Fee Impact fees are primarily implemented to balance the market depth effects caused by large orders. This encourages traders to consider market depth and order size, thus preventing impulsive trading actions. Impact fees are levied during the opening and closing of positions (not charged for liquidation and maximum profit closings). The specific rules are as follows: * Mainstream Pair Impact Fee Rate: (Size \* Price) / (1000 \* 0.1% depth Buy/Sell); * Other Pair Impact Fee Rate: (Size \* Price) / (100 \* 1% depth Buy/Sell); * Collected by: Vault
1. Impact Fee = Position Size \* Mark Price \* Impact Fee Rate 2. Impact Fee Rate: Determined by the size of the position. \
# Funding Fee The funding fee mechanism promotes a regular cash flow exchange between long and short position holders in perpetual contracts, aligning the perpetual contract prices with the index price. #### **Fee Collection** * **Payment Method:** When the funding rate is positive, traders with long positions pay traders with short positions; conversely, when the funding rate is negative, traders with short positions pay traders with long positions. **Note that Hyperion Exchange only facilitates the exchange of funds between holders of long and short positions (or liquidity providers) and does not charge any funding fees itself.** * **Collection Frequency:** Hyperion Exchange collects funding fees every 4 hours. Actual collection and payment are completed within 1 minute for each individual contract at millisecond intervals, without stopping trading. Funding fees are only applicable if a position is held at the moment of collection. If positions are closed before the collection of fees, no funding fees are required. In the event of early contract delisting before settlement, the funding fee for the current period is not required. The timing of these funding fee transactions may be adjusted in real-time based on market conditions. * **Recipients:** Counter parties, Liquidity Providers (LPs) * **Collection Times:** At the time of position closing, liquidation, and max profit closing.
#### **Funding Fee Calculation** 1. Daily funding fee rates payable by holders of long and short positions: \- Long Position Funding Rate = Base Rate + Linear Rate \* Long Position / (Total Liquidity \* Maximum Liquidity Utilization Rate)- Short Position Funding Rate = Base Rate + Linear Rate \* Short Position / (Total Liquidity \* Maximum Liquidity Utilization Rate)- Maximum Liquidity Utilization Rates may vary for each trading pair. For specific details, refer to Token Details. 2. Daily risk compensation received by LPs from the funding fees paid by long positions: \- LP Earnings = Long Position \* Long Position Funding Rate \* (Long Position - Short Position) / Long Position 3. Actual daily funding fees paid by long positions / received by short positions: \- Long Position Funding Fee = Short Position Size \* Short Position Funding Rate - Long Position \* Long Position Funding Rate- Short Position Funding Fee = Short Position Size \* Long Position Funding Rate - Short Position \* Short Position Funding Rate 4. Actual daily funding fee rates for long and short positions: \- Actual Long Position Funding Rate = Long Position Funding Fee / Long Position Size- Actual Short Position Funding Rate = Short Position Funding Fee / Short Position Size # Execution Fee Execution fees are collected at the time of opening a position and are fixed. 1. Fee Rate: Currently set at 2.5 USDC. 2. Recipient: Vault. 3. Collection Method: Deducted from the Exchange Wallet. If One-Click Trade is enabled, it will be deducted from the 1CT wallet. 4. This fee is charged at the time of order submission. Users have the option to reclaim this fee by canceling the order. # Perpetual Specifications Contract information updated on 02/23/2024. Trading pairs are listed in alphabetical order. | Token | Par | MinOpenLeverage | MaxOpenLeverage | MaxProfitRatio | TXFee | | -------- | ------ | --------------- | --------------- | -------------- | ------ | | 1000LUNC | 1 | 1 | 50 | 5 | 0.0008 | | 1MBONK | 0.1 | 1 | 5 | 5 | 0.0016 | | 1MRATS | 0.01 | 1 | 5 | 5 | 0.0016 | | 1MSATS | 1 | 1 | 5 | 5 | 0.0016 | | AAVE | 0.01 | 1 | 100 | 10 | 0.0008 | | ACE | 0.1 | 1 | 50 | 10 | 0.0008 | | ADA | 1 | 1 | 100 | 10 | 0.0008 | | APE | 1 | 1 | 100 | 10 | 0.0008 | | APT | 0.1 | 1 | 100 | 10 | 0.0008 | | ARB | 1 | 1 | 100 | 10 | 0.0008 | | ATOM | 0.1 | 1 | 100 | 10 | 0.0008 | | AVAX | 0.1 | 1 | 100 | 10 | 0.0008 | | AXS | 1 | 1 | 100 | 10 | 0.0008 | | BEAM | 100 | 1 | 20 | 5 | 0.0008 | | BIGTIME | 1 | 1 | 5 | 10 | 0.0008 | | BLUR | 1 | 1 | 100 | 10 | 0.0008 | | BNB | 0.01 | 1 | 100 | 10 | 0.0008 | | BTC | 0.0001 | 1 | 100 | 10 | 0.0008 | | CAKE | 0.1 | 1 | 100 | 10 | 0.0008 | | COMP | 0.1 | 1 | 100 | 10 | 0.0008 | | CRV | 1 | 1 | 100 | 10 | 0.0008 | | DOGE | 1 | 1 | 100 | 10 | 0.0008 | | DOT | 1 | 1 | 100 | 10 | 0.0008 | | ENS | 0.01 | 1 | 50 | 10 | 0.0008 | | ETH | 0.001 | 1 | 100 | 10 | 0.0008 | | FLIP | 0.1 | 1 | 5 | 10 | 0.0016 | | FTM | 1 | 1 | 100 | 10 | 0.0008 | | FTT | 0.1 | 1 | 20 | 10 | 0.0008 | | GMT | 1 | 1 | 50 | 10 | 0.0008 | | GMX | 0.1 | 1 | 100 | 10 | 0.0008 | | ICP | 0.1 | 1 | 100 | 10 | 0.0008 | | INJ | 0.1 | 1 | 100 | 10 | 0.0008 | | JTO | 1 | 1 | 50 | 10 | 0.0008 | | KAS | 1 | 1 | 100 | 10 | | | LDO | 1 | 1 | 100 | 10 | 0.0008 | | LINK | 0.1 | 1 | 100 | 10 | 0.0008 | | MAGIC | 1 | 1 | 50 | 10 | 0.0008 | | MANTA | 1 | 1 | 50 | 10 | 0.0008 | | MATIC | 1 | 1 | 100 | 10 | 0.0008 | | MKR | 0.001 | 1 | 100 | 10 | 0.0008 | | MOVR | 0.01 | 1 | 50 | 10 | 0.0008 | | NEAR | 1 | 1 | 100 | 10 | 0.0008 | | OP | 1 | 1 | 100 | 10 | 0.0008 | | ORDI | 0.1 | 1 | 20 | 5 | 0.0008 | | PEOPLE | 10 | 1 | 50 | 10 | 0.0008 | | PIXEL | 1 | 1 | 50 | 10 | 0.0008 | | PYTH | 1 | 1 | 50 | 5 | 0.0008 | | RDNT | 1 | 1 | 20 | 10 | 0.0008 | | RUNE | 0.1 | 1 | 100 | 10 | 0.0008 | | SEI | 1 | 1 | 100 | 10 | 0.0008 | | SNX | 1 | 1 | 100 | 10 | 0.0008 | | SOL | 0.1 | 1 | 100 | 10 | 0.0008 | | SSV | 0.01 | 1 | 50 | 10 | 0.0008 | | STRK | 1 | 1 | 100 | 10 | | | STX | 1 | 1 | 100 | 10 | 0.0008 | | SUI | 1 | 1 | 100 | 10 | 0.0008 | | TIA | 0.1 | 1 | 20 | 5 | 0.0008 | | TOKEN | 1 | 1 | 5 | 5 | 0.0016 | | TRX | 1 | 1 | 100 | 10 | 0.0008 | | UNI | 1 | 1 | 100 | 10 | 0.0008 | | USTC | 1 | 1 | 50 | 5 | 0.0008 | | VRTX | 1 | 1 | 5 | 10 | 0.0016 | | WLD | 0.1 | 1 | 50 | 10 | 0.0008 | | XAI | 1 | 1 | 50 | 10 | 0.0008 | | XRP | 1 | 1 | 100 | 10 | 0.0008 | | ZKF | 10 | 1 | 50 | 10 | 0.0008 | # Wallet & Tokens # My Wallet "My Wallet" refers to a user-owned EOA wallet.Web3 users can log in using Metamask or Bitget Wallet connections;Web2 users can create their own wallets through the Particle Wallet using phone numbers, email, Twitter accounts, or other Web2 accounts.**Users need to transfer funds from 'My Wallet' to 'Exchange Wallet' in order to engage in trading and provide liquidity.** # Exchange Wallet The Exchange Wallet is a contract wallet maintained by the Hyperion Exchange. It manages the assets deposited by users and allows for operations such as trading and providing liquidity through asset deposit. Funds in the Exchange wallet cannot be stolen by the contract owner or other users, and can only be accessed through trading perpetual contracts, providing liquidity (liquidity pool contract), or staking (staking contract).The HyperionX wallet supports the following two types of currency: * USDX (HyperionX USD) * HLP (HyperionX LP Token) # 1CT Wallet 1CT Wallet is a new wallet generated by HyperionX for users who desire one-click trading. It enables users to deposit the necessary amount of USDC in one go, which is used to cover the GAS fees and execution costs incurred during transactions. This approach minimizes the need for wallet confirmations by users, thereby increasing the speed from placing an order to its execution. Note: User authorization for the 1CT wallet is exclusively for transactions within HyperionX. # 1ClickTrade #### Overview One ClickTrade (1CT) eliminates the need for wallet interactions when submitting transactions on the blockchain, thereby reducing the time required for trading. It achieves this through the use of two new mechanisms: 1. 1CT Wallet 2. Transaction Delegation #### 1CT Wallet HyperionX utilizes an externally created wallet account (EOA) to submit transactions and pay transaction fees. This process relies on the following steps: 1. Users set a 4-digit PIN code. \- This PIN code should be remembered for future recovery purposes. 2. Users sign a preset message with their PIN code using their wallet. \- The wallet used for signing the message will be remembered by HyperionX for future recovery purposes. 3. Once a user has created a 1CT wallet, it must be granted authorization to conduct transactions on behalf of the user, allowing for the use of 1CT for fee payment and execution during order placement. #### Transaction Delegation The HyperionX smart contract supports a delegation feature, allowing a 1CT wallet (EOA) to submit transactions on behalf of other EOAs. To delegate a transaction to another EOA, the trader must authorize that address as a representative through the trading contract.The delegated wallet (1CT) is only required to cover the GAS fees for submitting the transaction. # USDX In Hyperion Exchange, all assets are priced in HyperionX USD (USDX). USDX has the following uses within HyperionX: 1. Opening positions in perpetual contracts. 2. Providing liquidity to liquidity pools. \ When users transfer assets from "My Wallet" to the "Exchange Wallet," they can use WUSDC as stablecoin assets, which are converted into USDX tokens at the prevailing exchange rate. Similarly, when withdrawing assets from the "Exchange Wallet," users can choose to convert USDX tokens back into WUSDC stablecoin assets.\ Pic.\ The price of HyperionX USD (USDX) is fixed at 1 USD. Therefore, during exchange and transfer operations, the exchange rate is based on the oracle prices of WUSDC stablecoins.\ When users withdraw funds from the Exchange Wallet, HyperionX charges a withdrawal fee of 0.1% and an execution fee of 1 USDC.USDX can be freely withdrawn to your wallet without incurring any additional fees.\ On Hyperion Exchange, as long as there is sufficient liquidity of these stablecoins in the USDX liquidity pool, USDX can be freely exchanged with WUSDC stablecoins. If the liquidity for a specific stablecoin is insufficient, users may opt to exchange for other stablecoins. # Liquidity & Earn In Hyperion Exchange, all assets are priced in HyperionX USD (USDX). USDX has the following uses within HyperionX: 1. Opening positions in perpetual contracts. 2. Providing liquidity to liquidity pools. \ When users transfer assets from "My Wallet" to the "Exchange Wallet," they can use WUSDC as stablecoin assets, which are converted into USDX tokens at the prevailing exchange rate. Similarly, when withdrawing assets from the "Exchange Wallet," users can choose to convert USDX tokens back into WUSDC stablecoin assets.\ Pic.\ The price of HyperionX USD (USDX) is fixed at 1 USD. Therefore, during exchange and transfer operations, the exchange rate is based on the oracle prices of WUSDC stablecoins.\ When users withdraw funds from the Exchange Wallet, HyperionX charges a withdrawal fee of 0.1% and an execution fee of 1 USDC.USDX can be freely withdrawn to your wallet without incurring any additional fees.\ On Hyperion Exchange, as long as there is sufficient liquidity of these stablecoins in the USDX liquidity pool, USDX can be freely exchanged with WUSDC stablecoins. If the liquidity for a specific stablecoin is insufficient, users may opt to exchange for other stablecoins. # $HLP #### $HLP Token HLP: This token is awarded to users who provide liquidity and has the following characteristics:- It possesses an inherent USD value and can be freely transferred.- Purchasing HLP is equivalent to providing liquidity to HyperionX, whereas selling HLP signifies the withdrawal of liquidity. #### $HLP Pricing Mechanism: * The price of HLP is determined by the total equity of liquidity providers (LPs) in conjunction with the number of HLPs circulating in the market. * To more accurately reflect the profit and loss situation of LPs, in calculating LP equity, we consider not only the amount of USDX in the liquidity pool but also the unrealized profits and losses from users' perpetual contract trades. * Calculation formula: HLP Price = (Asset Value in Liquidity Pool - User's Unrealized Profit) / Number of HLPs in Circulation. * Total user's unrealized profit includes: Unrealized Profit - Funding Fee. \ **Case:** | Liquidity Pool Asset Value | 1,000 USD | | -------------------------- | ------------------- | | Number of HLPs | 1,000 | | Unrealized Profit | 500 USD | | Funding Fee | 100 USD | | HLP Price | (1000-400)/1000=0.6 | #### HLP Acquisition You can choose to inject liquidity into the pool before the end of each epoch to generate HLP. HLP tokens must be bought and sold in accordance with the value of the assets deposited by the user. For the liquidity pool, users can mint LP tokens corresponding to the value of liquidity injected; when withdrawing liquidity, LP tokens are destroyed, and assets are withdrawn based on the value of the destroyed LP tokens. It's important to note that when users interact with HLP, their assets do not directly engage with the liquidity pool but wait until the current epoch ends to complete the purchase or sale. Currently, we only support using USDX from Hyperion Exchange as the asset for the liquidity pool, and users can convert stablecoin WUSDC into USDX at any time.\ Under normal circumstances, users' requests to withdraw liquidity by selling HLP will be executed smoothly. However, when the liquidity pool is temporarily insufficient, requests to withdraw liquidity may be partially executed. * Total amount of HLP that can be destroyed by the user: User's HLP sell ratio = User's requested sell amount / Total sell amount requested in the current epoch * Total amount of USDX that can be received by the user: Total USDX receivable by user = Actual sell amount in current epoch \* User's HLP sell ratio \* HLP price * Amount of HLP to be returned to the user: Amount of HLP returned to user = User's requested sell amount - (Actual sell amount in current epoch \* User's HLP sell ratio) \ **Case:** | User A's Requested Quantity of HLP for Sale | 150 | | ------------------------------------------------ | ---- | | Total HLP Quantity in the Current Epoch | 1000 | | Actual Sold Quantity of HLP in the Current Epoch | 600 | | Assumed HLP Price | 1 | | Total USDX Amount User A Can Receive | 90 | | Quantity of HLP Returned to User A | 60 | # Tutorial # How To Login HyperionX aims to serve as many users as possible. Therefore, we not only offer login options through Metamask and Bitget wallet but also provide a variety of Web2 login methods (such as Google, Tel, X, Discord, etc.) through our collaboration with Partical.
#### Connecting a Web3 Wallet -> Click on "Connect Bitget Wallet" or "Connect Metamask Wallet" located at the top right of the screen (or the bottom of the mobile screen). -> Ensure the Bitget Wallet or Metamask Wallet plugin is installed. -> Select the account you wish to access and approve the wallet connection.
#### Web2 Login Method -> Select the social media icon for login. HyperionX integrates with Particle Wallet's Multi-Party Computation (MPC) wallet service. Users can directly log into HyperionX using their social media accounts. There is no need to download and register a separate wallet before trading on HyperionX, thus eliminating the need to manage private keys or seed phrases typically associated with wallet connections. For more information about Particle Wallet, you can click here to learn more () -> Provide authorization to Particle Wallet through email or other social media accounts. On both desktop and mobile phones, you will be asked to log into your social account and provide authorization on your chosen social platform to Particle Wallet. Once done, you'll be successfully connected! # How to Deposit & Withdraw ### Bridge Since ZKFair is a Layer 2 network built on Ethereum, users need to transfer their tokens to ZKFair for interaction. This can be done via the bridge at . ### Swap **USDC** On the ZKFair network, USDC is used as the stablecoin for paying Gas fees. **WUSDC** HyperionX allows the use of WUSDC to exchange for USDX (Exchange Dollar) for perpetual contract trading, liquidity purchases, and staking. This can be done via the swap at . ### Transfer To start trading on HyperionX, it's necessary to deposit an initial amount of funds. The deposited funds can be used for trading and staking. Staking can also automatically earn interest.
### Deposit -> Click on the deposit option located anywhere on the web (top right corner wallet, Overview - Deposit). -> Select the asset you want to deposit. -> Enter the deposit amount. -> Click the approve button to first authorize the use of the asset. -> Sign the approval transaction. -> Now click on the deposit button at the approval section.-> Sign the transaction in your wallet. ### Withdraw -> Click on Wallet - My Wallet - Withdraw. -> Select the asset you wish to withdraw. -> Enter the withdrawal amount. -> Input the destination address for the withdrawal. -> Click on the confirm button to first authorize the withdrawal of the asset. # How to Trade Perpetual Contracts Perpetual contracts are a type of derivative financial contract. At HyperionX, we offer USDX collateralized contracts. Unlike other derivative contracts, these contracts do not have an expiration date and can be held and traded indefinitely.\ Before initiating your first trade, ensure that your Exchange Wallet balance is sufficient. **So** **you need to transfer funds from "My Wallet" to "Exchange Wallet".** #### Transfer The steps to transfer funds from My Wallet to the Exchange Wallet are as follows: -> Select and click on any "Transfer" button. -> Choose to transfer from "My Wallet" to the "Exchange Wallet". -> Select the cryptocurrency you wish to transfer and enter the amount. -> Click "Transfer" to confirm the operation. -> Once the transfer is complete, your funds are now deposited in the Exchange Wallet. \ Please note that WUSDC transferred into the Exchange Wallet will automatically be converted to USDX. You can use the funds in the Exchange Wallet for futures trading and staking. Additionally, your funds are securely stored in HyperionX's smart contract, and you can transfer them back to your personal wallet at any time.
#### Trading Perpetual Contracts 1. **Select the Market** First, click on the Perpetual - All Markets dropdown menu in the top left corner.Choose the perpetual contract trading pair you want to go long or short on. 2. **Choose Trading Leverage** Similar to CEX, HyperionX allows traders to set the maximum leverage for each trade before execution.Trading leverage is based on your margin. Choose a multiplier applicable to your margin (priced in USDX) to achieve the maximum position.To adjust the trading leverage:- Click on the multiplier number in the top right corner of the contract interface.- Select the leverage.- Click the “Confirm” button.Note: Higher leverage increases potential returns but also increases the risk of liquidation of the position. 3. **Choose Order Type: Limit or Market** Traders need to decide which type of trade (order) to place:- Market - Trades are executed immediately at the best available price in the AMM pool.- Limit - Set a limit price for buying or selling. The order will be executed at this price or a better one.Click to select either Limit or Market.Market Orders: Adjusting Slippage Limit- When placing a market order, users may want to adjust the slippage tolerance.- Slippage is the maximum deviation in the current order price a trader is willing to accept for execution.- The default slippage setting is 0.5%.- If users need to adjust slippage, click on the input box for Slippage Limit and enter the desired slippage percentage. 4. **Enter Trade Volume** Input the size amount or collateral amount you want to trade. Size = Margin \* Leverage Multiplier 5. **Go Long or Short** To go long (buy) or short (sell) on a perpetual contract (perp), simply click "Buy/Long" or "Sell/Short." 6. **Place Order and Sign Transaction** Press the "Place Long/Short Order" button.Confirm the transaction in your wallet. # How to Provide Liquidity To participate as a liquidity provider and enjoy the benefits, please follow these steps: 1. Click on the “Earn” button in the navigation bar to enter the “Liquidity” page. 2. To purchase HLP, perform the following actions: -> Click on “Buy”. -> Enter the amount of USDX you wish to use. -> Click on “Buy HLP” to submit your payment request. -> Your payment request will be executed at the start of the next epoch. -> After execution, click on “Claim” to receive your purchased HLP. \ Alternatively, you can also sell HLP to retrieve your assets and earnings: -> Click "Sell". -> Enter the amount of HLP you wish to sell. -> Click "Sell HLP" to submit your sell request. -> Your sell request will be executed at the start of the next epoch. -> After execution, click "Claim" to receive the USDX obtained from selling HLP. # How to Lock & Earn To participate in our Lock & Earn, you can follow these guidelines: 1. On the main page, click the “Earn” button to enter the “ Lock & Earn” section. Here, you will see details of the current epoch in the page banner, such as remaining time, total staked amount, and value.
2. To stake HLP and earn rewards: -> Click on “Stake HLP”. -> Enter the amount of HLP you wish to stake. -> Then click “Lock HLP” to finalize the staking.
3. Managing Staked Assets: You can view all staked assets in the "Staking Status" section at the bottom of the page. This area will display the status of your currently staked assets. When the staking period expires, click "Unlock All" to unlock the matured staked assets and retrieve your principal. # How to Enable 1ClickTrade In this tutorial, you'll learn how to use 1ClickTrade(1CT) step by step.\ 1ClickTrade(1CT) eliminates the need to interact with your wallet when submitting trades, thus shortening transaction times. To enable and manage 1ClickTrade, follow these steps:
**Enable 1ClickTrade:** -> Click the “1ClickTrade” button in the top navigation bar. -> Set a 4-digit PIN and sign with your wallet to create a new wallet private key. -> Safeguard your PIN, as losing the credentials to your 1CT wallet could result in losing access to your account. -> This wallet private key is used only for transaction authorization within the Hyperion Exchange. Once enabled, the original button will change to a battery icon to display your USDC Gas balance.
**Fill Up:** -> If you are enabling 1ClickTrade for the first time, your gas balance will be zero. -> Click “Fill Up” to deposit USDC into your 1CT Wallet for gas fees. -> Once you replenish your 1CT Wallet, the battery icon will indicate a charging state. Now, you can start trading without the constant need to confirm prompts from wallets like Metamask.
**Empty Wallet:** -> Click “Empty” to withdraw funds from your 1CT Wallet to your connected wallet.
**Disable:** -> Click “Advanced Settings” to go to the settings page. -> Click “More” - “Disable” to turn off your 1CT wallet. -> After disabling, your account information and balance will remain unchanged. You can restart your 1ClickTrade Wallet at any time.
**Reset:** -> Click “More” - “Reset” to close and erase the private key of your 1ClickTrade Wallet. Please note, this will deactivate the feature. # Community # $HPX Fair Launch **Token Name:** Hyperion Exchange Token **Symbol:** $HPX **Total Supply:** 1 Billion $HPX **Valuation:** 1 Million USD **Event Start Time:** 2024-02-02 00:00 UTC
## Token Distribution
#### Community 25% * **3% Vertex & GMX User Airdrop** * Fetch Vertex holders & GMX traders at a specific time from Dune. These users, when they trade on HyperionX and complete certain trading tasks, can receive a certain amount of airdropped tokens $HPX. * White list address snapshot time: January 19, 2024. * Claim rules: 1. White list address; 2. User's cumulative trading volume on HyperionX reaches 1,000 U. * Airdrop quantity rules: Comprehensive consideration of Vertex token holders' and GMX traders' circumstances, airdrop different amounts of $HPX. * **10% ZKFair Community** * 7% $ZKF stakers * 1% $ZKF holders * 1% $DID holders * 1% $ZKFair Pass holders\ **Release Rules:** 10% of the total ZKFair community airdrop will be released immediately after the $HPX trading event concludes. The remaining 90% will be linearly released over the subsequent 60 days. For further details, please visit . * **12% HyperionX protocol contributors** #### Staking 30% **Start Time:** 2024-02-02 00:00:00 UTC **End Time:** 2024-08-01 00:00:00 UTC **Allocation Quantity:** 300,000,000 **$HPX Valuation:** $300,000 **Allocation Method:** The first day of the event is designated for free staking, allowing users ample time to complete their staking. 300,000,000 $xHPX tokens will be injected into the staking reward pool on the second day of the event (February 3, 2024, at 00:00 UTC). The distribution will occur every second, based on the real-time staking reward coefficient ratio of each user. A total of 1,666,666.666666 $xHPX tokens will be distributed daily. * Estimated $xHPX = Your current staked token reward points / Total staked token reward points \* $xHPX distribution amount. * Reward points = Staked amount \* Staking duration Multiplier. | Staking Duration | 10 Days | 60 Days | 120 Days | 180 Days | | ---------------- | ------- | ------- | -------- | -------- | | Multiplier | 1.00 | 6.00 | 12.00 | 18.00 | * During the event, $xHPX will be distributed. After the conclusion of the first phase of the trading event, $xHPX to $HPX contract will be opened. Users will then be able to exchange their $xHPX for $HPX at a 1:1 ratio. * Example: User A, B, and C participated in staking, starting from February 2nd. The details of their staking are as follows: |


| Staking Amount | Staking Duration | Reward Points | | ----------- | -------------- | ---------------- | ------------- | | A | 10 | 10 | 10=10\*1.00 | | B | 20 | 60 | 120=20\*6.00 | | C | 30 | 180 | 540=30\*18.00 | \ From February 3rd to February 12th, the daily distribution of tokens will be as follows:
| Date | A | B | C | | ------------------- | ----------------------------------------------- | ------------------------------------------------- | --------------------------------------------------- | |

2.3～2.12

| 24,875.621890 1,666,666.666666\*10/(10+120+540) | 298,507.462686 1,666,666.666666\*120/(10+120+540) | 1,343,283.582089 1,666,666.666666\*540/(10+120+540) | \ On February 12th, User A's staking period will expire, and they can unlock their stake at any time. The distribution of tokens will vary depending on whether User A chooses to unlock their stake.
|


| Date | A | B | C | | ------------------------ | -------------------- | ----------------------------------------------- | -------------------------------------------------- | ---------------------------------------------------- | | User A keeps staking |

2.13\~4.2

| 24,875.621890 1,666,666.666666\*10/(10+120+540) | 298,507.462686 1,666,666.666666\*120/(10+120+540) | 1,343,283.582089 1,666,666.666666\*540/(10+120+540) | |

User A unlock

| 2.13\~4.2 | - | 303,030.3030301818 1,666,666.666666\*120/(120+540) | 1,363,636.3636358182 1,666,666.666666\*540/(120+540) | #### Trading 40% **400,000,000 $xHPX will be distributed over multiple stages of the event.The information for the first stage of the event is as follows:** **Start Time:** 2024-02-02 00:00 UTC **End Time:** 2024-02-07 00:00 UTC **Allocation Quantity:** 80,000,000 $HPX **Valuation:** $80,000 **Allocation Method:** The event will be divided into five phases, with each phase lasting one day. During each phase, 16,000,000 $xHPX tokens will be distributed. The distribution of these $xHPX each day will be based on the proportion of fees contributed by users to the total fees received by the DEX on that day. * Estimated $xHPX = Fees actually contributed by the user on that day / Fees actually collected by the DEX on that day \* $xHPX distribution amount (16,000,000). * During the event, $xHPX will be distributed. After the conclusion of the first phase of the event, the $xHPX to $HPX contract will be opened. Users will then be able to exchange their $xHPX for $HPX at a 1:1 ratio. * **Trading fees include transaction fees and price impact fees.** The following fees are not included in the fees calculated for the event and will not be refunded: funding fee, gas fee, and execution fee. * Any fees generated during the event exceeding $80,000 will be fully refunded to users. Fees exceeding $16,000 per day will be fully refunded to all users trading that day, with the refunded fee data updated everyday and distributed in a lump sum after the event.\ Refunded fees to users = (DEX's actual daily fees collected - $16,000) / DEX's actual daily fees collected \* User's actual fees incurred. * Example: | Time | The actual fees collected by the DEX last day | The actual fees contributed by TOM last day | The fees refunded to TOM | Estimated $xHPX | | --------- | --------------------------------------------- | ------------------------------------------- | -------------------------------- | -------------------------------- | | 2.3 00:00 |

$16,000

| $1000 | 0 | 1,000,000 （16000000\*1000/16000） | | 2.4 00:00 | $20,000 | $1000 | $200 (1000\*(20000-16000)/20000) | 800,000 （16000000\*1000/20000） | | 2.5 00:00 |

$20,000

| $2000 | $400 (2000\*(20000-16000)/20000) | 1,600,000 （16000000\*2000/20000） |
#### Liquidity for HPX/USDC 5% * The Liquidty for HPX/USDC will be added to: [https://sideswap.finance/#/pool](https://sideswap.finance/#/pool。) # Trading Airdrop Guidance ### 1. Bridge Since ZKFair is a Layer 2 network built on Ethereum, users need to transfer their tokens to ZKFair for interaction. This can be done via the bridge at ; ### 2. Swap **USDC** \ On the ZKFair network, USDC is used as the stablecoin for paying Gas fees. **WUSDC**\ HyperionX allows the use of WUSDC to exchange for USDX (Exchange Dollar) for perpetual contract trading, liquidity purchases, and staking. This can be done via the swap at . ### 3. Log In HyperionX supports logging in with both Web 3 wallets (Bitget Wallet, Metamask Wallet) and Web 2 methods (Google email, phone, Twitter, etc.).
### 4. Transfer To use WUSDC in HyperionX, you need to transfer WUSDC from "My wallet" to "Exchange Wallet". Once transferred, WUSDC is converted to USDX at the prevailing exchange rate. Similarly, when you withdraw assets from your exchange wallet, USDX is converted back to WUSDC at the exchange rate.
### 5. Trade
* Navigate to the "Perpetual" page and select your preferred pair. * Choose the trading leverage. * Select the type of order. * Enter the size. * Decide whether to go long (buy) or short (sell). * Place your order and sign the transaction.
### 6. Trading Fees When users open or close a position in perpetual on HyperionX, they are required to pay an opening fee and a price impact fee. These fees are included in the fees for airdrop event. Users can view the estimated opening fee and impact fee in the order confirmation pop-up. After executing the order, they can also check the actual fees charged by visiting the "Bill" page.
In the $HPX airdrop trading event, funding fees, gas fees, and execution fees are excluded from the event's fees and are not part of the final fee refund.When users open a position using their full collateral, to ensure the size of positions opened is not affected, HyperionX records the opening fee and price impact fee on the user's position as an accounting entry. These unrealized fees are not included in the fees of the opening but are charged and recorded in the day's fees when the position is closed or liquidated.
### 7. **View the airdrop rewards and trading refunds you've received** * Access the "Airdrop" page on the platform. * The page displays the current phase and a countdown to the next phase.
* This phase's fees and token distribution situation.
* My Fees: Sum of actual open/close position fees and price impact fees incurred by the user for the day. * Total Fees: All open/close position fees and price impact fees collected by the exchange for the day. * Est. $xHPX: The estimated number of $xHPX tokens allocated to the user, calculated based on "My Fees" and "Total Fees". * Est. refunds①: If "Total Fees" exceed 16,000U, the excess transaction fees are refunded to users who incurred them that day. * Earned $xHPX: Total amount of $xHPX tokens earned by the user over past phases, to be distributed after the trading event ends. * Est. refunds②: Total refund amount earned by the user over past phases, to be distributed after the event ends. * Historical fees and token distribution
Summary - Trading Airdrop: This section records the fees, token rewards, and refunds from past phases of the user's trading activities. # Staking Airdrop Guidance 1. **Bridge** Since ZKFair is a Layer 2 network built on Ethereum, users need to transfer their tokens to ZKFair for interaction. This can be done via the bridge at . 1. **Swap** **USDC** On the ZKFair network, USDC is used as the stablecoin for paying Gas fees. **WUSDC**HyperionX allows the use of WUSDC to exchange for USDX (Exchange Dollar) for perpetual contract trading, liquidity purchases, and staking. This can be done via the swap at . 3. **Log In** HyperionX supports logging in with both Web 3 wallets (Bitget Wallet, Metamask Wallet) and Web 2 methods (Google email, phone, Twitter, etc.).
4. **Transfer** To use WUSDC in HyperionX, you need to transfer WUSDC from "My wallet" to "Exchange Wallet". Once transferred, WUSDC is converted to USDX at the prevailing exchange rate. Similarly, when you withdraw assets from your exchange wallet, USDX is converted back to WUSDC at the exchange rate.
5. **Buy HLP**
* Visit the “Earn—Liquidity” page. * Enter the amount. * Confirm the purchase and sign the transaction. * Wait for the epoch to end and the order to execute. * To facilitate immediate liquidity purchases and staking for the airdrop, HyperionX is initiating a special 30-minute epoch for one day, starting from 00:00 UTC on February 2nd. The epoch duration will revert to 4 hours from 04:00 UTC on February 3rd. * Claim the bought HLP after the epoch. 6. **Stake HLP**
* Visit the “Earn—Lock & Earn” page. * Enter the amount. * Select the duration of your staking. * Confirm and sign the transaction. 7. **View and claim your airdrop rewards** * Visit the “Airdrop” page. * Check your current staking point and $HPX acquisition details.
* My Staking Points: Sum of the user's current staking points. * Total Staking Points: Sum of all staking points on the exchange. * $xHPX claimable: The cumulative amount of $xHPX that the user can claim from staking. * $xHPX acquired: Total amount of $xHPX the user has claimed from staking so far. * There's also a section for the history of $xHPX claims from staking.
This section records each instance of $xHPX claim, detailing the time and quantity of tokens received during each claim. # Tokenonomics HPX is the designated transferable token with practical utility within the HyperionX protocol. Its role is to provide an incentive structure within the HyperionX ecosystem, encouraging long-term participation in protocol activities and rewarding contributors at various levels.\ HPX will be deeply integrated with HyperionX, including, but not limited to: * **VIP**: HyperionX VIPs will enjoy reduced transaction fees for perpetual contract trades on HyperionX. In the future, users will need to hold a certain amount of HPX to become VIPs. * **Referral**: HyperionX will introduce a referral system that allows users to earn rebates by inviting friends, and even earn second-tier rebates. In the future, HPX holders will receive higher rebate percentages. \ The primary source of income for HyperionX is the fees generated from user transactions. HyperionX will allocate 50% of future revenues to the protocol's treasury, to be used for rewards and the repurchase of HPX. * **Rewards**: Rewards will be distributed based on the degree of long-term participation and contribution to the protocol. * **Buyback**: HyperionX will repurchase HPX from decentralized or centralized exchanges. The buybacks will occur on a weekly basis. In the future, as revenues increase, HyperionX will allocate a higher percentage of its revenue for token buybacks. # Contact Us For project collaboration or issue appeals, you can contact us through the following methods: **Twitter:** **Telegram:** **Discord:** **Medium:** **Official Email:** support\@HyperionX\_xyz # More # Q\&A 1. #### What are the supported login methods? We offer various Web2 login methods, as well as Web3 login methods, such as Metamask and Bitget wallet.
2. #### What is ROI? "ROI" calculates your real investment return rate.ROI = (Total Closing Income - Total Opening Expenditure) / Total Opening ExpenditureTotal Closing Income = Position Margin + Profit + Collected Funding FeesTotal Opening Expenditure = Position Margin + Opening Fees + Closing Fees + Borrowing Costs + Paid Funding Fees 3. **Why are there returned HLPs?** When the available funds in the LP Pool are not sufficient to reimburse the total number of HLPs sold by users in the current epoch, the user's sell request will be partially executed. Actual HLPs sold = Number of HLPs requested by the user / Number of HLPs requested by all users in the current epoch \* Total amount paid out from the LP Pool / HLP price. Unsold HLPs will be returned to the user's exchange wallet. # Glossary In Hyperion Exchange (HyperionX), users can play various roles and perform diverse operations:\ \ **Roles:** 1. User: Everyone using the platform, including traders, liquidity providers (LPs), and token holders. 2. Trader: A user who trades on the exchange. 3. Liquidity Provider (LP): A user who provides liquidity to the exchange, obtaining HLP in return for depositing USDX and earning liquidity profits. 4. Holder: A user holding HPX tokens, who can either interact with the exchange or become LPs/Traders. 5. Staker: A user who stakes HLP to earn rewards. 6. VIP: Users who reach a specific trading volume or HLP staking amount. 7. Inviter: Users who send invitation codes and earn profits from invitees. 8. Invitee: Users who use invitation codes. \ **Operations:** 1. Trade: Opening, closing, and swapping actions performed by users on HyperionX. 2. Perpetual: Buying long or selling short contracts on the Perp page, adjusting margin. 3. Options: Opening, closing, and settling operations on the Options page. 4. Buy HLP: Providing USDX to mint HLP, earning liquidity profits. 5. Sell HLP: Destroying HLP to retrieve USDX. 6. Stake SLP: Staking HLP tokens to earn rewards. 7. Unlock: Retrieving locked HLP tokens. 8. One-Click Trade (1CT): Allows users to trade without pop-up confirmations. \ **Trading Behaviors:** 1. Users gain profits or incur losses from the liquidity pool through trading. 2. Perpetual contracts are settled in USDX, allowing users to profit from long or short positions. \ **Menu Bar:** 1. Borrow Fee: Interest rate for borrowed funds. 2. Long Open Interest (OI L): Total amount of perpetual contracts held by long positions. 3. Short Open Interest (OI S): Total amount of perpetual contracts held by short positions. 4. Long/Short Ratio (L/S): Ratio of long to short position volumes. 5. Funding Rate: Funding fees paid between long and short positions. \ **Trading Window:** 1. Long: Going long, profiting from price increases. 2. Short: Going short, profiting from price decreases. 3. Market Order: Executing trades at market prices. 4. Limit Order: Setting trades at specific prices. 5. Available Balance: Funds in the exchange wallet. 6. Available Liquidity: Remaining liquidity available for trading. 7. Total Position: Holding volume of perpetual futures contracts. 8. Stop Orders: Stop loss and take profit orders. 9. Collateral: Funds required to open a position. 10. Liquidation Price (Liq.Price): Price at which perpetual futures are forcibly settled. 11. Trading Fees: Fees paid for placing orders/closing positions. # Media Kit The logos of HyperionX, HLP, and USDX, including in SVG and PNG formats, can be found in our media kit. # Coming Soon # Simple Option HyperionX is about to launch a new type of virtual currency options product called Simple Options. This product is centered around options pricing logic and is equipped with a reliable settlement mechanism. Users can utilize Simple Options to purchase call or put options, which allows them to predict price movements of the underlying assets. Simple Options offer a way for users to limit potential losses while having the opportunity to gain returns of up to 20 times. Please stay tuned for more information on this product. # Terms of Use **Welcome to Hyperion Exchange**These Terms of Use ("Terms") govern your access to and use of the services provided by Hyperion Exchange (referred to as "HyperionX," "we"). By accessing the website at ("Website") and using our services, you agree to comply with these Terms and all applicable laws and regulations.
1. #### Acceptance of Terms By accessing or using our services, you acknowledge that you accept these Terms and agree to comply with them. If you do not agree to these Terms, you must not use our services.
2. #### Changes to Terms We may modify these Terms at our discretion. If we make changes, we will notify you by posting the revised Terms on the Website or by other means. Please review the Terms whenever we make changes because if you continue to use the services after we post revised Terms on the Website, you agree to be bound by the modified Terms.
3. #### Access and Use of Services You must ensure that anyone accessing our services through your internet connection is aware of and complies with these Terms.A. Eligibility RequirementsYou must be at least 18 years old to access or use our services. By agreeing to these Terms, you represent and warrant to us that:(a) You are at least 18 years old;(b) You have not been previously suspended or removed from our services;(c) Your registration and use of our services comply with all applicable laws and regulations.B. Registration and Your InformationIf you wish to use certain features of our services, you must create an account ("Account"). You commit to providing us with accurate, complete, and up-to-date registration information.C. Prohibited UseWhen using our services, you agree not to misuse the services or assist others in misusing the services.
4. #### Risk Warning Trading of real or virtual goods and products, as well as virtual currencies, involves significant risk. Prices can fluctuate on any given day. Due to such price fluctuations, your assets may increase or decrease in value at any time.
5. #### Intellectual Property The content on our website, including but not limited to text, software, scripts, graphics, photos, sounds, music, videos, and interactive features, as well as trademarks, service marks, and logos contained therein, are owned by or licensed to Hyperion Exchange.
6. #### Termination We may terminate or suspend your access to our services immediately, without prior notice or liability, for reasons including but not limited to your breach of these Terms.
7. #### Governing Law These Terms are governed by and construed in accordance with the laws of the British Virgin Islands.
8. #### Limitation of Liability Hyperion Exchange is not responsible for any damages or losses, partial or total, that you may suffer while trading on our platform. This includes but is not limited to losses caused by force majeure events, such as delays in block production on the ZK Fair network, disruptions in the ZK Fair network, errors in oracle price feeds, hacker attacks, AWS server service interruptions, or other unforeseeable circumstances. These events may lead to the partial or total loss of assets or positions held by users on the exchange, for which Hyperion Exchange is not liable.
9. #### Contact Us If you have any questions about these Terms, please contact us through the official contact methods. # Privacy Policy **Last updated on January 20, 2024** \ We respect your privacy and are committed to protecting your privacy rights. Please take the time to read our Privacy Policy carefully. We aim to clarify how we use information and how you can protect your privacy. To ensure transparency, this Privacy Policy describes our information processing practices when you access our website and use our services. All definitions used in this Privacy Policy have the same meanings as in the Terms of Use of Hyperion Exchange, unless defined differently in this policy.\ By accessing the website or using our services, you agree to the terms of this Privacy Policy. When we need your consent to process your personal information, we will ask for your agreement to collect, use, and disclose your personal information as further described below. If you do not agree with this policy, please immediately leave the website, uninstall the extension, or stop using our services.
### How We Use Your Personal Information #### Usage Data 1.1. We may process information about your use of our services ("Usage Data"). Usage Data may include:1.1.1. Your IP address, geographical location, browser type and version, operating system, referral source, visit duration, page views, and navigation paths, as well as information about the timing, frequency, and pattern of your service use;1.1.2. Your device number, device ID, or unique identifier, device type, unique device token, operating system and application usage, application crash data, application version, and device identifiers (like advertiser identifier IDFA, Android ID, Playstore referral URL, Google Advertiser ID, device model);1.1.3. Cookies and local storage files.The source of the Usage Data is our analytics tracking systems and your use of our services. This Usage Data may be used to analyze the use of our services. The legal basis for this processing is your consent and our legitimate interests, namely monitoring and improving our website and services.
#### Account Data We may process your account data ("Account Data"). Account Data may include your nickname, email address, your user ID, and your public wallet addresses generated through our website or services.
#### Inquiry Data We may process information contained in any inquiry you submit to us regarding the website or services ("Inquiry Data"). Inquiry Data may be used to respond to your inquiries, provide, market, correct any deficiencies in the website or services, and to sell services to you. The legal basis for this processing is the performance of a contract between you and us and/or taking steps, at your request, to enter into such a contract, and our legitimate interests.
#### Customer Relationship Data We may process information related to our customer relationships, including customer contact information ("Customer Relationship Data"). Customer Relationship Data may include your name, nickname, your contact details (phone number, social media accounts, email addresses, or other identifiers used to communicate with us on social networks or communication software), and information contained in communications between us.
#### Communication Data We may process information contained in any communication that you send to us ("Communication Data"). Communication Data may include the content of the communication and your contact information (phone number, social media accounts, email addresses, or other identifiers used for communication with us). Communication Data may be used for communication with you and record-keeping. The legal basis for this processing is our legitimate interests, namely the proper administration of our website and services and business communications with users.
### Your Personal Information 1.1. We may disclose your personal information to our affiliates, contractors, and service providers, as long as doing so is reasonably necessary for the purposes and legal bases set out in this policy.\ 1.2. We may disclose your personal information to our insurers and/or professional advisers, as long as doing so is reasonably necessary for obtaining or maintaining insurance coverage, managing risks, obtaining professional advice, or establishing, exercising, or defending legal claims in court or administrative or out-of-court procedures.\ 1.3. In addition to the specific personal information disclosures mentioned in this section, we may disclose your personal information when necessary to comply with a legal obligation or to protect your or another natural person's vital interests. We may also disclose your personal information when necessary to establish, exercise, or defend legal claims in court or administrative or out-of-court procedures.\ 1.4. If applicable law requires (for example, if you are a resident of the European Economic Area, the United Kingdom, or Switzerland) and your personal information will be transferred outside our country of registration and/or outside the European Economic Area, the United Kingdom, or Switzerland, we will ensure an adequate level of protection through any recognized transfer mechanism, including but not limited to entering into standard contractual clauses, for transferring personal information to processors in third countries.
### Cookies \ A cookie is a small file stored on your device, containing a string of letters and numbers, used as a unique identifier. Sometimes, cookies can also store your personal preferences for a website. When you first open a website or service, a cookie may be created on your device. When you open it again, the cookie is sent back to us, letting us know you have visited before. We do not create cookies ourselves but use third-party providers to provide this service for us.\ We typically use cookies for the following purposes: (a) Authentication - We use cookies to identify you when you visit and navigate our website or services; (b) Status - We use cookies to help us determine if you are logged into our website or services; (c) Security - We use cookies as part of our security measures for user accounts, including preventing the fraudulent use of login credentials and protecting our website and services; (d) Analysis - We use cookies to help analyze the use and performance of our website and services; and (e) Cookie Consent - We use cookies to store your preferences regarding the general use of cookies.\ We use analytical packages from trusted third parties to continually improve your experience using our website and services. You should read their privacy policies to ensure you are satisfied with how they use cookies.\ Generally, you can activate or later deactivate the use of cookies through features built into your web browser or mobile device.
### Local Storage \ Local storage, including JavaScript-enabled localStorage, is a typical way for websites to store a small amount of letters and numbers in your browser. We use local storage files to keep you logged into our customer support platform. These local storage files are deleted when the website that stored them deletes them. You can also delete local storage files from your browser at any time by accessing your web browser settings.You can clear local storage files from your browser.
### Third Parties The website or services may contain links to other websites or services. Please note that we are not responsible for the privacy practices or content of these websites or services, and you should review the privacy policy of each such website or service before providing any personal information to ensure that you are satisfied with it.
### Changes to the Privacy Policy We may modify this Privacy Policy and will notify you of such changes by email, through the website or services, or by updating the "Last Updated" date at the top of this Privacy Policy. Continued access or use of the website or services indicates your agreement to the modified Privacy Policy. If you do not agree to any modifications to this Privacy Policy, you must stop using the website and services. We encourage you to regularly review the Privacy Policy to ensure you are informed of the terms and conditions applicable to your access and use of the website and services.\ If you have any requests regarding your personal information, or any questions about this Privacy Policy, please feel free to contact us. # HyperionX介绍 HyperionX（HPX）是区块链世界中首个Fair Launch的去中心化衍生品交易平台。HPX依托于高性能的ZKFair技术，并且以用户体验为核心设计，提供与中心化交易所相媲美的交互体验，同时保障去中心化的安全和透明性。\ HPX平台具有以下特点： * 提供最高100倍的逐仓杠杆交易 * 支持丰富的长尾资产交易 * 提供Web2方式的登录 * 无弹窗体验（需要开通1CT） * 具备高度扩展性，包括期权产品等功能 HPX由经验丰富的前Top3交易所衍生品团队成员和做市商团队组建，经过精心规划，涵盖系统架构、产品开发和长期运营策略等方面。特别是在交易底层机制上进行了创新的优化设计，包括全面的稳定币池、高效的清算机制，以及适应新币种上币的灵活参数配置系统。HPX的点对池交易模式理论上可以支持任何拥有公开喂价资产的合约交易。在HPX灵活参数配置系统的支持下，能够通过调整杠杆倍数、综合费用参数和隔离流动性容量等方式来为新币、热点币提供市场上更快的上新体验。 # 永续合约 # 永续合约介绍 HyperionX提供U本位永续合约，以平台稳定币USDX进行结算的数字货币合约产品。每一张合约代表一定数量的数字货币，投资者可以通过买入做多或做空合约来获得该货币价格变动带来的收益。合约的杠杆倍数为1～100倍，不同合约的最大杠杆倍数不同。以BTCUSD合约为例，要素如下： | **要素** | **详情** | | ------ | --------------------------------------------------------------------- | | 合约标的 | BTC/USDX指数 | | 结算货币 | USDX | | 合约面值 | 0.0001 BTC | | 报价单位 | 按照1BTC的USDX价格报价 | | 最小变动价位 | 0.01 | | 杠杆倍数 | 1-100倍 | | 交易时间 | 7\*24小时 | | 资金费率时间 | 每4小时收取一次 | | 手续费率 | 0.08%，折扣相见[手续费](/zn/yong-xu-he-yue/jiao-yi-fei-yong/shou-xu-fei-yong) | #### 产品特点 1. **逐仓** 目前平台仅支持逐仓交易。逐仓保证金模式指的是单币种仓位的保证金独立于用户的交易钱包余额和其他币种仓位，使用户能精准控制仓位杠杆，避免过度杠杆带来的爆仓风险。例如：如果同时进行BTCUSD、ETHUSD的永续合约交易，那么这两个仓位的保证金相互独立，盈亏自担。若单个仓位爆仓，将不影响用户账户内的其他仓位。 2. **到期日** 永续合约没有到期交割日，永不到期。 3. **价格制度** HyperionX使用预言机喂价机制，根据币种流动性不同，分为DEX和CEX货币两种喂价机制，同时设置异常处理逻辑，保证耽搁交易所价格出现大幅偏离时，平台价格波动在正常范围内。具体详见[喂价机制](/zn/yong-xu-he-yue/wei-jia-ji-zhi)。 4. **维持保证金率制度** 维持保证金率指用户维持当前仓位所需的最低保证金率。当保证金率低于维持保证金率+平仓手续费率时，即触发清算（强制平仓）。具体详见[清算机制](/zn/yong-xu-he-yue/qing-suan-ji-zhi)。 5. **最大盈利** 最大盈利的机制，用于保护LP及保障流动性的提供。当用户某个仓位达到最大盈利时，将会触发最大盈利平仓，平台将会以标记价格对实现最大盈利的合约仓位进行平仓。最大盈利通常为保证金的10倍。具体详见[最大盈利](/zn/yong-xu-he-yue/zui-da-ying-li)。 6. **资金费用机制** 由于没有到期交割日，永续合约需要通过资金费用机制来使得合约价格锚定现货价格。资金费用每4小时收取一次。只有在该时刻持有仓位时，用户才需要支付或收取资金费用。若在费用收取之前平仓，无需支付资金费用。具体详见[资金费用](/zn/yong-xu-he-yue/jiao-yi-fei-yong)。 # 喂价机制 预言机为永续合约交易对提供价格。HyperionX根据货币流动性分为 DEX 货币和 CEX 货币。下面，我们将描述这两种货币的预言机实现。 #### **去中心化(DEX)币种** DEX 币种:币种流动性主要集中在去中心化交易所的币种。以 UNIBOT 为例，解释价格喂价机制。 * **计算UNIBOT/USD价格** 平台选择 Uniswap 上流动性最高的池子（例如，UNIBOT/WETH v2 pool），获取 UNIBOT 价格，并换算为 USD 价格。 #### **中心化(CEX) 币种** 我们把流动性集中在中心化交易所的币种统称为CEX币种。下面以 ETH 为例，解释喂价机制。 1. **计算USDT/USD价格** 平台选取了coinbase等4家交易所的USDT/USD价格，选取中位数作为公允的USDC/USD价格。 2. **计算BTC/USDC 价格** 平台选取了Okx等 5家流动性良好的交易所的ETH/USDC价格，计算出中位数价格， 然后对与中位数价差过大的数据做异常处理，最后计算均值作为公允ETH/USDC价格。 3. **计算ETH/USD价格** 将计算出的公允USDC/USD价格和ETH/USDC价格相乘，得到ETH/USD价格。
# 逐仓保证金 仓位保证金有全仓保证金和逐仓保证金两种，当前HyperionX平台仅支持逐仓保证金形式。逐仓保证金模式指的是仓位的保证金独立于用户的交易钱包余额。如果仓位被强制平仓，交易者将仅会损失仓位保证金。因此，在逐仓保证金模式下，仓位保证金为：**仓位保证金（逐仓保证金模式）= 起始保证金 +该仓位调整保证金**逐仓保证金的优点包括： 1. 独立账户，保证一个头寸损益不影响其他头寸。 2. 单独清算，一个头寸的清算，不影响其他头寸的仓位。 3. 精准杠杆，可以有效控制每个仓位的杠杆，单独管理避免过度杠杆。 #### 案例 1. 用户A在ETH2,500时，开仓了100USDX的ETH仓位，使用了10倍杠杆，即初始保证金为10U。当行情波动，ETH价格下降到2,400时，未实现盈亏为-4USDT时，剩余保证金计算方式如下： 100/10+100\*(2,400-2,500)/2,500=6USDX
2. 用户A在交易钱包中有1,000 USDX。他使用500 USDX作为保证金，开设了一个20倍杠杆的ETH永续空头头寸。然而，由于ETH价格波动，用户A的头寸被清算。在这种情况下，由于使用逐仓保证金模型，用户A仅损失了作为ETH头寸的500 USDX。他交易钱包中的另外500 USDX不受影响。
# 清算机制 清算，又称强制平仓，是当用户的某币种仓位价值低于最低维持保证金时，触发的保护机制。**基本字段及含义** | 名词 | 解释 | | ----- | ----------------------------------------------------------- | | 维持保证金 | 账户中某个币种资产下，当前持仓的永续合约保证金数量。一般维持保证金有最低要求，低于最低维持保证金时，会触发强制平仓。 | | 保证金率 | 保证金率=（初始保证金+仓内未实现盈亏）/（尺长所需的维持保证金+平仓手续费），平台当前最低维持保证金率为0.50%。 | 1. 最低维持保证金 = 头寸数量 \* 标记价格 \* 维持保证金比率 + 预计平仓费用。 2. 最低维持保证金比率通常为0.50% 3. 特定币种清算后，用户交易钱包中的余额和其他仓位将不会受到影响。 \ **案例** | 交易对 | BTC/USD | | -------- | --------- | | 多头/空头 | 多头 | | 保证金（$） | 1,000.00 | | 开仓均价 （$） | 42,704.00 | | 杠杆倍数 | 5.00 x | | 数量 | 0.117 | | 当前价格（$） | 41382.19 | | 维持保证金率 | 0.50% | | 手续费率 | 0.08% | | 预估清算价（$） | 34,389.51 | # 最大盈利 最大盈利的机制，用于保护LP及保障流动性的提供。当用户某个仓位达到最大盈利时，将会触发最大盈利平仓，平台将会以标记价格对实现最大盈利的合约仓位进行平仓。最大盈利通常为保证金的10倍。（各币种略不同）
1. 最大盈利 = 保证金 \* 最大盈利倍数 2. 多头仓位：最大盈利价格 = 开仓价格 + 最大盈利 / 数量 3. 空头仓位：最大盈利价格 = 开仓价格 - 最大盈利 / 数量 \ 最大盈利平仓时仍需计算平仓时扣除的平仓费用。不同交易对的最大盈利倍数请参考 永续合约详细数据。触发最大盈利时，收益与仓位所开杠杆无关，仅与该币种最大盈利倍数有关。\ **案例** | 交易对 | BTC/USD | | --------- | ---------- | | 保证金（$） | 10,000.00 | | 开仓均价（$） | 40,000.00 | | 杠杆倍数 | 40.00 x | | 数量 | 10 | | 最大盈利倍数 | 10 | | 最大盈利（$） | 100,000.00 | | 最大盈利价格（$） | 50,000.00 | | 平仓价格（$） | 50,000.00 | | 费用（$） | -100 | | 收益（$） | 99,900.00 | # 交易费用 # 手续费用 手续费用即开平仓费用。根据行业标准进行优化，最终确定以下手续费用标准：开平仓费率标准：0.08%。 收取方：国库 平台根据用户过去30天内的永续合约交易量，设置VIP等级。每个VIP等级都能享受相应的交易费用减免。具体规则如下： | 等级 | 过去30天交易量 | 交易费折扣 | 折后手续费 | | -- | ----------- | ----- | ------ | | 0 | <=50,000 | 0% | 0.080% | | 1 | >50,000 | 5% | 0.076% | | 2 | >500,000 | 10% | 0.072% | | 3 | >2,500,000 | 15% | 0.068% | | 4 | >5,000,000 | 30% | 0.056% | | 5 | >10,000,000 | 50% | 0.040% | | 6 | >25,000,000 | 80% | 0.016% | 等级计算：每日固定在0:00(UTC+0)计算一次。
1. 手续费=仓位数量\*开仓价格\*开/平仓费率 2. 每个交易对的费率可能不同。具体可参考 [永续合约规范](/zn/yong-xu-he-yue/yong-xu-he-yue-gui-fan)。 3. 收取方式：优先从交易钱包扣除，当交易钱包余额不足时，通过记账方式，在保证金里记账（平仓时统一扣除）。 #### 案例 | 交易对 | ETH | | --- | ------------ | | 费率 | 0.08% | | 价格 | 2500 USD/ETH | | 数量 | 4 ETH | | 仓位 | 10000 USD | | 手续费 | 8 USD | # 冲击费用 冲击费用主要用于平衡大额订单对市场深度带来的冲击，这使得用户在交易时需要考虑市场深度和订单大小，避免冲动行为。冲击费用在开平仓时收取（清算和最大盈利平仓不收取），具体规则如下： 主流币对冲击费率：（数量\*价格）/（1000\*0.1% 买/卖单深度）；其他币对冲击费率：（数量\*价格）/（100\*1% 买/卖单深度）； 收取方：国库 冲击费用=仓位\*标记价格\*冲击费率 冲击费率：由仓位大小决定 # 资金费用 资金费用的机制通过促进多头与空头仓位持有者之间定期进行现金流交换，使永续合约的价格向指数价格收拢。 #### **费用收取** 收付方式当资金费率为正数时，多头仓位交易者支付给空头仓位交易者；相反地，当资金费率为负数时，空头仓位交易者支付给多头仓位交易者。注意，平台仅促进多头与空头仓位持有者(或流动性提供者)之间的资金交换，**平台不收取任何资金费用**。平台的资金费用每4小时收付 1 次。实际收付时间将在 1 分钟内收付完成，每个单个合约在毫秒级别，不停止交易。只有在该时刻持有仓位时，用户才需要支付或收取资金费用。如果在费用收取之前平仓，则不需要支付资金费用。如果出现结算前提前下线合约的情况，则不需要支付本期资金费用。上述资金费用的收付时间可能会根据市场行情而进行实时调整。\ 收取方：交易对手、LP收取时间：平仓、清算、最大盈利平仓。 #### **费用计算** 1. 多头和空头仓位持有者应支付的资金费费率（每日）： 1. 多头应交费率 = 基础费率 + 线性费率 \* 多头持仓 / （总流动性 \* 最大流动性占用率） 2. 空头应交费率 = 基础费率 + 线性费率 \* 空头持仓 / （总流动性 \* 最大流动性占用率） 3. 各交易对的最大流动性占用率可能不同。具体可参考 [交易对详细信息](/zn/yong-xu-he-yue/yong-xu-he-yue-gui-fan)。 2. LP将从多头支付的资金费中收到的风险补偿（每日）： 1. LP收益 = 多头持仓 \* 多头应交费率 \*（多头持仓 - 空头持仓）/ 多头持仓 3. 多头实际支出的资金费 / 空头实际收到的资金费（每日）： 1. 多头资金费 = 空头持仓 \* 空头应交费率 - 多头持仓 \* 多头应交费率 2. 空头资金费 = 空头持仓 \* 多头应交费率 - 空头持仓 \* 空头应交费率 4. 多头实际的资金费率 / 空头实际的资金费率（每日）： 1. 多头实际资金费率 = 多头资金费 / 多头持仓 2. 空头实际资金费率 = 空头资金费 / 空头持仓 # 执行费用 开仓时收取，为固定费用，用于执行链上成交撮合。 1. 费率：目前为2.5 USDC 2. 收取方：国库。 3. 收取方式：从交易钱包中扣除。如果用户开启了一键交易，则从1CT钱包扣除。 4. 提交订单时收取该费用，用户可以通过撤销订单取回该收费。 # 永续合约规范 币种信息更新于2024年02月23日。币对按照字母顺序排列。 | 币种 | 面值 | 最小杠杆倍数 | 最大杠杆倍数 | 最大盈利倍数 | 资金费率 | | -------- | ------ | ------ | ------ | ------ | ------ | | 1000LUNC | 1 | 1 | 50 | 5 | 0.0008 | | 1MBONK | 0.1 | 1 | 5 | 5 | 0.0016 | | 1MRATS | 0.01 | 1 | 5 | 5 | 0.0016 | | 1MSATS | 1 | 1 | 5 | 5 | 0.0016 | | AAVE | 0.01 | 1 | 100 | 10 | 0.0008 | | ACE | 0.1 | 1 | 50 | 10 | 0.0008 | | ADA | 1 | 1 | 100 | 10 | 0.0008 | | APE | 1 | 1 | 100 | 10 | 0.0008 | | APT | 0.1 | 1 | 100 | 10 | 0.0008 | | ARB | 1 | 1 | 100 | 10 | 0.0008 | | ATOM | 0.1 | 1 | 100 | 10 | 0.0008 | | AVAX | 0.1 | 1 | 100 | 10 | 0.0008 | | AXS | 1 | 1 | 100 | 10 | 0.0008 | | BEAM | 100 | 1 | 20 | 5 | 0.0008 | | BIGTIME | 1 | 1 | 5 | 10 | 0.0008 | | BLUR | 1 | 1 | 100 | 10 | 0.0008 | | BNB | 0.01 | 1 | 100 | 10 | 0.0008 | | BTC | 0.0001 | 1 | 100 | 10 | 0.0008 | | CAKE | 0.1 | 1 | 100 | 10 | 0.0008 | | COMP | 0.1 | 1 | 100 | 10 | 0.0008 | | CRV | 1 | 1 | 100 | 10 | 0.0008 | | DOGE | 1 | 1 | 100 | 10 | 0.0008 | | DOT | 1 | 1 | 100 | 10 | 0.0008 | | ENS | 0.01 | 1 | 50 | 10 | 0.0008 | | ETH | 0.001 | 1 | 100 | 10 | 0.0008 | | FLIP | 0.1 | 1 | 5 | 10 | 0.0016 | | FTM | 1 | 1 | 100 | 10 | 0.0008 | | FTT | 0.1 | 1 | 20 | 10 | 0.0008 | | GMT | 1 | 1 | 50 | 10 | 0.0008 | | GMX | 0.1 | 1 | 100 | 10 | 0.0008 | | ICP | 0.1 | 1 | 100 | 10 | 0.0008 | | INJ | 0.1 | 1 | 100 | 10 | 0.0008 | | JTO | 1 | 1 | 50 | 10 | 0.0008 | | KAS | 1 | 1 | 100 | 10 | | | LDO | 1 | 1 | 100 | 10 | 0.0008 | | LINK | 0.1 | 1 | 100 | 10 | 0.0008 | | MAGIC | 1 | 1 | 50 | 10 | 0.0008 | | MANTA | 1 | 1 | 50 | 10 | 0.0008 | | MATIC | 1 | 1 | 100 | 10 | 0.0008 | | MKR | 0.001 | 1 | 100 | 10 | 0.0008 | | MOVR | 0.01 | 1 | 50 | 10 | 0.0008 | | NEAR | 1 | 1 | 100 | 10 | 0.0008 | | OP | 1 | 1 | 100 | 10 | 0.0008 | | ORDI | 0.1 | 1 | 20 | 5 | 0.0008 | | PEOPLE | 10 | 1 | 50 | 10 | 0.0008 | | PIXEL | 1 | 1 | 50 | 10 | 0.0008 | | PYTH | 1 | 1 | 50 | 5 | 0.0008 | | RDNT | 1 | 1 | 20 | 10 | 0.0008 | | RUNE | 0.1 | 1 | 100 | 10 | 0.0008 | | SEI | 1 | 1 | 100 | 10 | 0.0008 | | SNX | 1 | 1 | 100 | 10 | 0.0008 | | SOL | 0.1 | 1 | 100 | 10 | 0.0008 | | SSV | 0.01 | 1 | 50 | 10 | 0.0008 | | STRK | 1 | 1 | 100 | 10 | | | STX | 1 | 1 | 100 | 10 | 0.0008 | | SUI | 1 | 1 | 100 | 10 | 0.0008 | | TIA | 0.1 | 1 | 20 | 5 | 0.0008 | | TOKEN | 1 | 1 | 5 | 5 | 0.0016 | | TRX | 1 | 1 | 100 | 10 | 0.0008 | | UNI | 1 | 1 | 100 | 10 | 0.0008 | | USTC | 1 | 1 | 50 | 5 | 0.0008 | | VRTX | 1 | 1 | 5 | 10 | 0.0016 | | WLD | 0.1 | 1 | 50 | 10 | 0.0008 | | XAI | 1 | 1 | 50 | 10 | 0.0008 | | XRP | 1 | 1 | 100 | 10 | 0.0008 | | ZKF | 10 | 1 | 50 | 10 | 0.0008 |
# 钱包&货币 Hyperion平台为用户提供了三种类型的钱包：“我的钱包”、“交易钱包” 和 “1CT钱包”。
# 我的钱包 “我的钱包”是用户自己拥有的钱包。Web3用户可以使用Metamask或Bitget钱包连接登录；Web2用户可以通过Particle 钱包用电话号码、电子邮件，Twitter账号等其他Web2账户创建自己的钱包。**用户需要将资金从“我的钱包”划转到“交易钱包”才能进行交易和提供流动性。** # 交易所钱包 交易所钱包是由平台维护的合约钱包。它管理用户存入的资产，并允许通过存入资产进行交易、提供流动性等操作。交易所钱包中的资金不会被合约所有者或其他用户盗取，只能通过交易永续合约、提供流动性（流动性池合约）或质押（质押合约）来访问。HyperionX钱包支持以下2种币种： * USDX（HyperionX美元） * HLP（HyperionX LP代币）
# 1CT钱包 One ClickTrade(1CT)钱包是平台为想要一键交易的用户生成的新钱包。它允许用户一次性存入需要数量的USDC，用于支付交易时产生的GAS费用和执行费用。这减少了用户需要钱包确认的场景，提高了下单到成交的速度。注意：用户对1CT钱包的授权仅限于平台内的交易。 # 一键交易 #### 概述 一键交易（1CT）消除了在链上提交交易时与钱包进行交互的需求，从而减少交易所需的时间。它通过使用两种新机制来实现这一点： 1. 1CT 钱包 2. 交易委托
#### 1CT钱包 平台使用一个由外部创建的钱包账户(EOA)来提交交易交易，支付交易手续费。它依赖以下步骤： 1. 用户设置一个4位数的PIN码。 1. 这个PIN码应该被记住以备将来恢复使用。 2. 用户使用他们的钱包对PIN码的预设消息进行签名。 1. 用于签署消息的钱包会被平台记住以备将来恢复使用。 3. 一旦用户创建了一个1CT钱包，必须授予它代表用户的交易权限，允许下单时，使用1CT进行费用支付和执行。
#### 交易委托 平台智能合约支持一项委托功能，允许1CT钱包（EOA）代表其他EOA提交交易。要将交易委托给另一个EOA，交易员必须通过交易合约批准该地址作为代表。 委托钱包（1CT)只需要用于支付提交交易的GAS费用。
# USDX 在交易所中，所有资产都以HyperionX美元（USDX）作为计价单位。USDX在HyperionX内有以下用途： 1. 永续合约中开仓。 2. 向流动性池提供流动性。 \ 当用户将资产从“我的钱包”划转到“交易钱包”时，可使用WUSDC稳定币资产，按汇率转换为USDX代币。同样，从“交易钱包”提取资产时，也可以选择将USDX代币转换回WUSDC稳定币资产。
\ 在平台内，HyperionX美元（USDX）的价格固定为1美元。因此，在兑换划转时，汇率是基于WUSDC稳定币的预言机价格来报价的。当用户从交易钱包提取资金时，平台将收取0.1%的提现费用以及1美元的执行费用。USDX可以自由提取到您的钱包，不再额外收取任何费用。在HyperionX平台，只要USDX流动性池中这些稳定币的流动性足够，USDX可以自由地与WUSDC稳定币进行兑换。如果相应稳定币的流动性不足，用户可以选择兑换为其他稳定币。 # 流动性&赚 # $HLP代币 #### $HLP代币 HLP：这是提供流动性的用户所获得的代币，具有以下特点：- 拥有内嵌的美元价值，并且可以自由转移。- 购买HLP等同于向平台提供流动性，而出售HLP则意味着提取流动性。
#### $HLP的定价机制： \- HLP的价格是由流动性提供者（LP）的总权益与市场上流通的HLP数量共同决定的。- 为了更准确地反映LP的损益情况，我们在计算LP权益时不仅考虑流动性池中的USDX数量，还包括用户在永续合约交易中的未实现盈亏。- 计算公式：HLP价格 = (流动性池资产价值 - 用户未实现盈利) / 流通中的HLP数量。- 总用户未实现盈利包括：未实现盈利 - 资金费用。\ **案例：** | 流动性池资产价值 | 1,000 USD | | -------- | ------------------- | | HLP个数 | 1,000 | | 未实现盈利 | 500 USD | | 资金费用 | 100 USD | | HLP 价格 | (1000-400)/1000=0.6 | #### **代币获取** 您可以在每个周期结束前，选择是否注入流动性池，产生HLP。 HLP 代币需要跟随用户存入资产的价值来进行购买和出售，对于流动性池而言，用户注入流动性时即可铸造对应价值的LP 代币； 用户提取流动性时销毁LP 代币，根据销毁LP 代币的价值来取出对应的资产。 需要注意的是，当用户进行HLP交互时，其资产并未与流动性池直接发生交互，而是需要等待当前纪元结束才能真正完成购买出售。 当前，我们仅支持使用HyperionX平台的USDX作为资产投入流动性池，用户可以随时将WUSDC稳定币对转换为USDX。 > 在正常情况下，用户通过出售HLP提出的提取流动性的请求将会顺利执行。然而，当流动性池暂时不足时，提取流动性的请求可能会部分执行。 * 用户可销毁的HLP总量： 用户卖出HLP比例=用户申请的卖出量 / 当前纪元申请的总卖出量 * 用户卖出HLP比例=\frac{用户申请的卖出量}{当前纪元申请的总卖出量} 用户卖出HLP比例=当前纪元申请的总卖出量用户申请的卖出量 * 用户可以收到的USDX总量： 用户可收到的USDX总量=当前纪元实际卖出量∗用户卖出的HLP比例∗HLP价格 * 退回给用户的HLP数量： 退回给用户的HLP数量=用户申请的卖出量−(当前纪元实际卖出量∗用户HLP卖出比例) **案例：** | 用户A申请卖出HLP的数量 | 150 | | -------------- | ---- | | 当前纪元总的HLP数量 | 1000 | | 当前纪元HLP实际卖出数量 | 600 | | 假定的HLP价格 | 1 | | 用户A可以收到的USDX总量 | 90 | | 退回给用户A的HLP数量 | 60 |
# 指南 # 如何登录 HyperionX想为尽可能多的用户服务，所以我们不仅提供了接入Metamask和Bitget钱包的登录方式，还通过和Partical合作为用户提供了多种Web2（Google、Tel、X、Discord等）登录方式。\ **连接Web3钱包** 1. 单击屏幕右上方（或手机屏幕下方）的 "连接Bitget钱包"或者“连接Metamask钱包” 2. 确保安装Bitget钱包或Metamask钱包插件 3. 选择要接入的账户，并批准钱包连接 \ **Web2方式登录** 1. 选择登陆的社媒图标 HyperionX 与 Particle Wallet 集成了多方计算（MPC）钱包服务。用户可以通过自己的社媒账户直接登录HyperionX；在 HyperionX 上进行交易前无需单独下载和注册钱包，因此也无需管理通常与钱包连接的私钥或种子短语。 关于Partical，您可以点击这里了解更多详情（ 2. 通过电子邮件或其他社交媒体账户向 Particle Wallet 提供授权。 在网页端和移动端使用Web2登录方式时，您都会被要求登录您的社交账户，并在您选择的社交平台上向 Particle Wallet 提供授权。 \ \ \
# 如何充值&提现 ### 桥接 ZKFair是构建于Ethereum上的二层网络，用户需要将代币转移至ZKFair上再进行交互。用户可以前往 进行桥接。 ### 互换 **USDC** 在ZKFair网络，用户将使用稳定币USDC来支付Gas。 **WUSDC** HyperionX支持用户使用WUSDC兑换USDX（交易所美元）来进行永续合约交易和流动性购买、质押。 用户可以前往 进行互换。 ### 充值 首次在 HyperionX 交易之需要充值第一笔资金。充值的资金可用于交易和质押。质押还可以自动赚取利息。
**转入充值** -> 在应用程序的任意位置（右上角钱包、概览- 充值）点击充值 -> 选择要存入的资产 -> 输入存款金额 -> 点击批准按钮，首先批准资产的使用 -> 签署批准交易。 -> 现在点击批准处的存款按钮 -> 在钱包中签署交易 ### 提现 -> 点击钱包 - 我的钱包 - 提取-> 选择要提取的资产-> 输入提取金额-> 输入提取的目的地址-> 点击批准按钮，首先批准资产的提现
# 如何进行永续合约交易 永续合约是一种衍生金融合约。在 HyperionX，我们提供 USDX 担保合约，与其他衍生品合约不同，这种合约没有到期日，可以无限期持有和交易。\ 在开始交易前，需确保交易所钱包里的余额充足 #### 划转 **开始第一次交易前，您需要将资金从您的钱包划转至交易所钱包内。** 从我的钱包划转资金至交易所钱包的步骤如下：1. 选择并点击任一“划转”按钮。2. 选择从“我的钱包”划转到“交易所钱包”。3. 选定您希望划转的币种，并输入划转数量。4. 点击“划转”以确认操作。5. 完成划转，您的资金现已存入交易所钱包。\ 请注意，划入交易所钱包的WUSDC将自动转换为USDX。您可以使用交易所钱包中的资金进行期货交易和质押。此外，您的资金被安全地存放在HyperionX的智能合约中，您可以随时将其划回到您的个人钱包。
#### **开始合约交易** 1. 选择市场 首先，点击左上角（订单价格旁边）的 "所有市场 "下拉菜单。选择要做多或做空的 perp 合约交易对。 2. 选择交易杠杆 与CEX 类似，HyperionX 允许交易者在执行前设置每笔交易的最大杠杆。交易杠杆基于您的保证金。选择适用于保证金（以 USDX 计价）的倍数，以获得最大头寸。调整交易杠杆：单击合约界面右上角的倍数数字选择杠杆。点击“确认”按钮。**注：高杠杆将在增加潜在收益的同时增加仓位的清算风险。** 3. 择订单类型： 限价或市价 交易者要决定下哪种类型的交易（订单）：限价 - 设定买入或卖出资产的限价。订单将以该价格或更好的价格成交。市价 - 交易立即以 AMM 池中的最佳价格执行。点击限价或市价进行选择。市价订单： 调整滑点选择下达市价订单时，用户可能希望调整滑点容忍度滑点是交易者愿意执行的当前订单价格的最大偏差。默认滑点设置为 0.5%。用户如需调整滑点，点击Slippage Limit的输入框，输入所需的滑点。 4. 输入交易量 5. 做多或做空 要做多（买入）或做空（卖出）perp，只需点击 "买入/做多 "或 "卖出/做空"。 6. 下单交易和签署交易 按下 "下多/空单 "按钮。在钱包中确认交易。 # 如何提供流动性 **作为流动性提供者参与并享受收益，请按照以下步骤操作：** 1. 点击导航栏的“赚”按钮，进入“流动性”页面。 2. 要购买HLP，请执行以下操作： \- 点击“购买”。- 输入您希望使用的USDX数量。- 点击“购买HLP”提交您的支付请求。- 您的支付请求将在下一个纪元开始时执行。- 执行后，点击“领取”以接收您购买的HLP。\ **或者，您也可以出售HLP以取回您的资产和收益：** 1. 点击“出售”。 2. 输入您想要出售的HLP数量。 3. 点击“出售HLP”提交您的出售请求。 4. 您的出售请求将在下一个纪元开始时执行。 5. 执行后，点击“领取”以收取出售HLP所换得的USDX。
# 如何质押&理财 为了参与质押和理财活动，您可以按照以下指南操作：
1. 在主页面，点击“赚”按钮进入“质押&理财”区域。您将在页面横幅部分看到当前纪元的详细信息，如剩余时间、总质押数量和价值等。
2. 如果您想质押HLP并获取奖励： \- 请点击“质押HLP”。- 输入您想质押的HLP数量。- 接着点击“锁定HLP”完成质押过程。
3. 管理质押资产： \- 您可以在页面底部的“质押情况”区域查看所有质押资产。这里将展示您当前质押资产的情况。- 当质押期满时，点击“解锁全部”可解锁到期的质押资产，并取回本金。
# 如何开启一键交易 如何在 HyperionX 上使用一键交易的分步指南。在本教程中，您将逐步了解如何使用一键交易。一键交易（1CT）无需在提交交易时与钱包交互，从而缩短了交易时间。要启用并管理一键交易，请按照以下步骤操作：
1. 开启一键交易： \- 在顶部导航栏中点击“一键交易”按钮。- 设置一个4位数字的PIN码，并通过您的钱包进行签字，以创建一个新的钱包私钥。- 请妥善保管您的密码，因为一旦丢失一键交易钱包的凭据，您可能会丢失账户。- 该钱包私钥仅用于Hyperion Exchange内部的交易授权。启用后，原有的按钮将变为电池图标，以显示您的USDC Gas余额。
2. 补充（存款）： \- 如果您是首次启用一键交易，您的Gas余额将为0。- 点击“补充”向您的一键交易钱包充值USDC，以支付Gas费用。- 当您为一键交易充值后，电池图标将显示充电状态。现在，您可以开始交易，无需不断确认Metamask等钱包的提示。
3. 取空： \- 点击“取空”，将一键交易钱包内的资金提取到连接的钱包中。
4. 停用： \- 点击“进阶设置”，进入设置页面。- 点击“更多”-“停用”，关闭您的一键交易钱包。- 停用后，您账户的信息和余额将保留不变。您可以在任何时候重启您的一键交易。
5. 重置： \- 点击“更多”-“重置”以关闭并擦除一键交易钱包的私钥。请注意，这将关闭该功能。 # 社区 # $HPX公平分发 ### 代币信息 **代币名：**Hyperion平台代币 **符号：**$HPX **代币数量：**十亿枚 $HPX **价值：**一百万美元 **活动时间：**2024年2月2日 00:00:00 UTC 起
### 代币分配
**社区 25%** **3% Vertex & GMX 用户空投** * 从Dune抓取某一时间的 Vertex持币者 & GMX交易用户，这部分用户来HyperionX进行交易，完成一定的交易任务可领取一定数量的空投代币$HPX。 * 白名单地址快照时间：Jan.19 2024 * 领取规则：1. 白名单地址；2. 用户在HyperionX交易量累计达到1,000 U。 * 空投数量规则：综合考量Vertex持币者 & GMX交易用户，空投不同数量的$HPX。 * **10% ZKF 社区** * 7% $ZKF 质押者 * 1% $ZKF 持有者 * 1% $DID 持有者 * 1% $ZKFair Pass 持有者\ **释放规则：**ZKFair社区空投总量的10%将在$HPX交易活动结束后立即释放，剩余的90%将在之后60天内线性释放。更多细则请前往 * **12% HyperionX协议贡献者** #### 质押30% **开始时间：**2024.2.2 00:00 UTC **截止时间：**2024.8.1 00:00 UTC **分配数量：**300,000,000 $HPX**代币价值：**300,000 美元 **分配方式：**活动第一天为自由质押时间，用户将有充分的时间来完成质押。300,000,000枚$xHPX将在活动第二天（2024.2.3 00:00 UTC）注入质押奖池，并在每秒按照用户实时的质押奖励系数占比分配。每天共计发放1,666,666.666666枚$xHPX。 * 预计得到 $xHPX = 你当前质押代币的奖励系数 / 总质押代币的奖励系数 \* $xHPX发放数量。 * 奖励系数 = 质押数量 \* 质押时间系数 | 质押时长 / 天 | 10 | 60 | 120 | 180 | | -------- | ---- | ---- | ----- | ----- | | 质押时间系数 | 1.00 | 6.00 | 12.00 | 18.00 | * 活动期间将发放$xHPX。在第一期交易活动结束以后，将开放$xHPX兑$HPX合约，用户可按照1:1的兑换比例兑换$HPX。 * 例子： A, B, C三人参与质押，三人在2.2日开始质押，质押情况如下： |


| 质押数量 | 质押天数 | 奖励系数 | | ----------- | ---- | ---- | ------------- | | A | 10 | 10 | 10=10\*1.00 | | B | 20 | 60 | 120=20\*6.00 | | C | 30 | 180 | 540=30\*18.00 | \ 则2月3日至2月12日每日代币分配情况如下：
| 时间 | A | B | C | | -------- | ----------------------------------------------- | ------------------------------------------------- | --------------------------------------------------- | | 2.3～2.12 | 24,875.621890 1,666,666.666666\*10/(10+120+540) | 298,507.462686 1,666,666.666666\*120/(10+120+540) | 1,343,283.582089 1,666,666.666666\*540/(10+120+540) | \ 在2月12日，用户A的这笔质押到期，随时可以解锁。根据用户A是否选择解锁，代币分配情况如下：
|


| 时间 | A | B | C | | -------------- | -------------------- | ----------------------------------------------- | -------------------------------------------------- | ---------------------------------------------------- | | A不解锁 |

2.13\~4.2

| 24,875.621890 1,666,666.666666\*10/(10+120+540) | 298,507.462686 1,666,666.666666\*120/(10+120+540) | 1,343,283.582089 1,666,666.666666\*540/(10+120+540) | |

A解锁

| 2.13\~4.2 | - | 303,030.3030301818 1,666,666.666666\*120/(120+540) | 1,363,636.3636358182 1,666,666.666666\*540/(120+540) |
**交易 40%** **400,000,000枚$xHPX将分多期活动来发放。** **第一期活动信息如下：** **开始时间：**2024.2.2 00:00 UTC **截止时间：**2024.2.7 00:00 UTC **分配数量：**80,000,000 $HPX **代币价值：**80,000美元 **分配方式：**活动将分为5个阶段，每天为一个阶段，每个阶段发放16,000,000枚xHPX。每天按照用户当天实际贡献的交易费用占交易所当天收到的总费用的比例，来分配16,000,000枚xHPX。 * 预估 $xHPX = 当天用户实际贡献的交易费用 / 当天交易所所有用户实际贡献的交易费用 \* $xHPX发放数量（16,000,000） * 活动期间将发放$xHPX。在第一期活动结束后，将开放$xHPX兑$HPX合约，用户可按照1:1的兑换比例获得$HPX。 * **交易费用包括交易产生的手续费以及价格冲击费用**。 * 以下费用不包括在活动计算的交易费用中，将不予返还：资金费、Gas费、执行费。 * 活动期间产生的交易费用超出8万美元的部分，将全部返还给用户。 * 交易费用每天超出16,000美元的部分将按比例全部返还给所有当天交易的用户，每阶段将更新一次返还每个用户的交易费用数据，并在活动结束后一次性发放给用户。 * 返还给用户的交易费用 =（DEX当天实收交易费用 - 16,000美元）/ DEX当天实收交易费用 \* 用户实际产生的手续费。 * 例子 | 时间 | 当天交易所收到的费用 | 当天TOM贡献的费用 | Tom得到的返还交易费用 | Tom得到的代币数量 | | --------- | ------------------ | ---------- | ------------------------------- | -------------------------------- | | 2.3 00:00 |

$16,000

| $1000 | 0 | 1,000,000 （16000000\*1000/16000） | | 2.4 00:00 | $20,000 | $1000 | $200(1000\*(20000-16000)/20000) | 800,000 （16000000\*1000/20000） | | 2.5 00:00 |

$20,000

| $2000 | $400(2000\*(20000-16000)/20000) | 1,600,000 （16000000\*2000/20000） |
#### HPX/USDC 流动性 5% HPX/USDC 的流动性将被添加至： # 交易活动指南 1. **桥接** ZKFair是构建于Ethereum上的二层网络，用户需要将代币转移至ZKFair上再进行交互。用户可以前往 进行桥接。 2. **互换** **USDC**在ZKFair网络，用户将使用稳定币USDC来支付Gas。 **WUSDC**HyperionX支持用户使用WUSDC兑换USDX（交易所美元）来进行永续合约交易和流动性购买、质押。 用户可前往 进行互换 3. **登录** HyperionX支持用户使用Web 3钱包（Bitget Wallet，Metamask Wallet）和Web 2方式（谷歌邮箱、手机、推特等）登录。
4. **划转** 将钱包中的WUSDC划转至您的交易所钱包内，WUSDC将按汇率兑换为USDX，当您从交易所钱包提取资产时，USDX同样将按汇率兑换回WUSDC。
5. **交易**
* 进入“永续”页面，选择喜欢的币对 * 选择交易杠杆 * 选择订单类型 * 输入交易量 * 做多或者做空 * 下单交易并签署交易 5. **交易费用** 用户在进行永续合约开仓或是平仓时需缴纳一定的开仓手续费以及价格冲击费，这两部分费用将被记入活动的交易费用中。用户可以在订单确认弹窗中看到预计的开仓手续费及冲击费用。在订单执行后，也可以前往“资金流水”页查看实际收取的费用。
资金费用、gas费、执行费用等将不计入活动交易费用中，不参与最终的费用退还。当用户使用全部保证金来开仓时，为保证用户开出的仓位数量不受影响，HyperionX将开仓手续费以及价格冲击费以记账的形式记录在用户该仓位中，这部分未实现手续费将不计入该笔开仓的交易费用中，但该仓位在平仓或是爆仓清算时，这笔交易费用将被收取并记入当天的交易费用中。
7. **查看获得的空投奖励及交易费用退款** * 进入“空投”页面。 * 当前期数及下一期倒计时展示。
* 本期费用及代币分发情况
我的费用：用户当天实际产生的开平仓手续费及价格冲击费之和。 \ 总费用：交易所当天实际收取的所有开平仓手续费及价格冲击费。 \ 预估$xHPX：根据用户当前“我的费用”及“总费用”计算出的预估$xHPX分配数量 \ 预估$xHPX=我的费用 / 总费用\*16000000 \ 预估退款①：当“总费用”超过16000U时，超出的交易费用将全部退还给当天产生交易费用的用户。预估退款即根据用户当前“我的费用”及“总费用”计算出的预估退款数额。 \ 预估退款=（总费用-16000）/ 总费用\*我的费用 \ 获得的$xHPX：用户过去几期得到的$xHPX总额。这部分代币将在交易活动结束后统一发放。 \ 预估退款②：用户过去几期得到的退款总额。这部分退款将在交易活动结束后统一发放。 * 历史费用及代币分发情况
* 摘要—交易空投：记录了过去几期用户交易部分的费用、代币奖励及退款情况。 # 质押活动指南 1. **桥接** ZKFair是构建于Ethereum上的二层网络，用户需要将代币转移至ZKFair上再进行交互。 用户可以前往 进行桥接。 2. **互换** **USDC** 在ZKFair网络，用户将使用稳定币USDC来支付Gas。 **WUSDC** HyperionX支持用户使用WUSDC兑换USDX（交易所美元）来进行永续合约交易和流动性购买、质押。 用户可前往 进行互换。 3. **登录** HyperionX支持用户使用Web 3钱包（Bitget Wallet，Metamask Wallet）和Web 2方式（谷歌邮箱、手机、推特等）登录。
4. **划转** 将钱包中的WUSDC划转至您的交易所钱包内，WUSDC将按汇率兑换为USDX，当您从交易所钱包提取资产时，USDX同样将按汇率兑换回WUSDC。
5. **购买流动性**
* 进入“赚—流动性”页面 * 输入购买的数量 * 确认购买并签署交易 * 等待纪元结束，订单执行。 为方便用户能够第一时间购买流动性并完成质押以参与空投活动，HyperionX将从2.2 00:00 UTC起，限时开启为期一天的30分钟纪元时长活动，在2.3 04:00 UTC，纪元时长将恢复至4小时。 * 领取购买的HLP。 6. **质押流动性**
* 进入“赚—质押&理财”页面 * 输入质押的数量 * 选择质押的时长 * 确认质押并签署交易 7. **查看并领取获得的空投奖励** * 进入“空投”页面。 * 当前质押分数情况及代币获取情况
我的质押分数：用户当前质押分数之和。 总质押分数：交易所当前所有质押分数。 可领取的$xHPX：用户当前累计的可领取的质押获得的$xHPX数量。 已领取$xHPX：用户累计领取的质押部分的$xHPX数量。 * 质押部分$xHPX领取历史记录
记录了每次领取的时间及数量。 # 代币经济学 HPX是HyperionX协议中指定的有实用功能的可转让代币。 HPX的作用在于在HyperionX生态系统中提供一种激励的结构。HPX将用于鼓励长期参与协议活动，以及为协议作出不同程度贡献的参与者。 HPX将与HyperionX深度绑定。包括但不限于： **VIP：**HyperionX VIP拥有在HyperionX交易永续合约手续费部分减免的权利。在未来，用户将需要持有一定数量的HPX来成为VIP。 **返佣：**HyperionX将推出返佣系统，允许用户通过邀请朋友，来获取一定额度的返佣，甚至是二级返佣。而未来，持有HPX的用户，将获得更高的返佣比例。
HyperionX的主要收入来源是用户交易产生的费用。HyperionX将把未来营收的50%分配给协议的资金库，并用作奖励以及HPX回购。 **奖励：**奖励将根据用户协议的长期参与及贡献程度来发放。 **回购：**HyperionX将从去中心化交易所，或是从中心化交易所中回购HPX。回购将以周为周期进行。在未来营收越高的情况下，HyperionX将用更高比例的营收用于代币回购。 # 联系我们 项目合作或问题申诉等，可通过以下方式与我们联系： **推特:** **TG Telegram:** **Discord**： **Medium：** **官方邮箱**：support\@HyperionX\_xyz\
# 更多 # 常见问题 #### 1. **有哪些支持的登录方式？** 我们提供多种Web2登录方式，以及Web3登录方式，如Metamask，Bitget wallet。
#### **2. 什么是ROI？** "ROI" 计算你的真实投资收益率ROI = (总的平仓收入 - 总的开仓支出) / 总的开仓支出

 总的平仓收入 = 仓位保证金 + 收益 + 收取的资金费用 总的开仓支出= 仓位保证金+ 开仓费用 + 平仓费用 + 借贷费用 + 支付的资金费用 \ **3. 为什么会出现退还的HLP？** 当LP池中的可用资金不足以偿付当前纪元用户总售出的HLP时，用户的售出请将被部分执行。实际售出的HLP=用户请求售出的HLP数量/当前纪元所有用户请求售出的HLP数量\*LP池总偿付的金额 / HLP价格。未售出的HLP将退还至用户交易所钱包。 # 词语表 在Hyperion Exchange（HyperionX）中，用户可以扮演多种角色并进行多样的操作：\ **角色：** 1. 用户（User）：使用平台的所有人，包括交易者、流动性提供者（LPs）和持币者。 2. 交易者（Trader）：在交易所进行交易的用户。 3. 流动性提供者（LPs）：在交易所提供流动性的用户，通过存入USDX获得HLP并获取流动性收益。 4. 持币者（Holder）：持有HPX代币的用户，可以不与交易所交互，或成为LPs/Traders。 5. 质押者（Staker）：锁仓HLP获得收益的用户。 6. VIP：达到特定交易量或HLP锁仓量的用户。 7. 邀请人（Inviter）：发送邀请码并从被邀请人获得收益的用户。 8. 被邀请人（Invitee）：使用邀请码的用户。 \ **操作：** 1. 交易（Trade）：用户在HyperionX上进行的开仓、平仓和交换行为。 2. 永续期货（Perpetual）：在Perp页面买多或卖空合约，调整保证金。 3. 期权（Options）：在Option页面进行的开仓、平仓和结算。 4. 购买HLP（Buy HLP）：提供USDX铸造HLP，获得流动性收益。 5. 出售HLP（Sell HLP）：销毁HLP获取USDX。 6. 质押SLP（Stake SLP）：质押HLP代币获得收益。 7. 解锁（Unlock）：取回锁定的HLP代币。 8. 一键交易（1CT）：允许用户交易时无需弹窗确认。 \ **交易行为：** 1. 用户通过交易从流动性池获取收益或产生亏损。 2. 永续合约以USDX结算，用户可通过多单或空单获利。 \ **菜单栏：** 1. 借贷费率（Borrow fee）：借入资金的利息费率。 2. 多单持仓量（OI L）：多头持有的永续合约总量。 3. 空单持仓量（OI S）：空头持有的永续合约总量。 4. 多空比（L/S）：多头与空头持仓量的比率。 5. 资金费率（Funding Rate）：多空双方的资金费。 \ **交易窗口：** 1. 多头（Long）：做多头寸，价格上涨获益。 2. 空头（Short）：做空头寸，价格下跌获益。 3. 市价单（Market）：按市场价格执行交易。 4. 限价单（Limit）：设置特定价格的交易。 5. 可用余额（Balance）：交易所钱包中的资金。 6. 流动性池剩余（Available Liquidity）：剩余可交易的流动性。 7. 总仓位（Position）：永续期货合约的持仓量。 8. 止赢止损（Stop Orders）：止损（Stop loss）和止盈（Take profit）。 9. 保证金（Collateral）：开仓所需的资金。 10. 清算价格（Liq.Price）：永续期货被强制结算的价格。 11. 交易费用（Fees）：下单/平仓支付的手续费 # 媒体套件 HyperionX、HLP和USDX的标志，包括SVG和PNG格式，可以在我们的[媒体套件](https://github.com/Hyperion-Exchange/Media-Kit/tree/main/HyperionX%20Media%20Kit)中找到。 # 即将上线 # 简单期权 HyperionX即将推出一款名为简单期权的新型虚拟货币期权产品。这款产品以期权定价逻辑为核心，并配备了可靠的结算机制。用户可以利用简单期权购买看涨或看跌期权，这样做能够预测标的资产的价格变动。简易期权提供了一种方式，让用户在限制潜在损失的同时，还有机会获得最高20倍的回报。 敬请关注此产品的后续信息。 # 使用条款 **欢迎访问 Hyperion Exchange**本使用条款（以下简称 "条款"）规范了您访问和使用Hyperion Exchange（以下简称“HyperionX”、“我们”）提供的服务。通过访问位于 **1. 接受条款**访问或使用我们的服务，即表示您确认接受这些条款，并同意遵守这些条款。如果您不同意这些条款，则不得使用我们的服务。 **2. 条款变更**我们可随时自行决定修改条款。如果我们进行修改，我们会通过在网站上发布修改后的条款或通过其他方式通知您。请务必在我们修改条款时查看条款，因为如果您在我们在网站上发布修改后的条款后继续使用服务，即表示您同意接受修改后条款的约束。 **3. 服务的访问和使用**您必须确保通过您的互联网连接访问我们服务的任何人都了解并遵守这些条款。 **A. 资格要求**您必须至少年满18周岁才能访问或使用我们的服务。同意这些条款即表示您向我们声明并保证：(a) 您至少年满18岁；(b) 您之前未曾被暂停或移除出我们的服务；(c) 您注册和使用我们的服务符合所有适用的法律和法规。 **B. 注册及您的信息**如果您想使用我们服务的某些功能，您必须创建一个账户（以下简称 “账户”）。您承诺向我们提供准确、完整和最新的注册信息。 **C. 禁止使用**在使用我们的服务时，您同意不滥用服务或帮助他人滥用服务。 **4. 风险提示**无论是真实的还是虚拟的商品和产品，以及虚拟货币的交易都涉及重大风险。任何一天的价格都会波动。由于这种价格波动，您的资产随时可能增值或贬值。 **5. 知识产权**我们网站上的内容，包括但不限于文本、软件、脚本、图形、照片、声音、音乐、视频和互动功能，以及其中包含的商标、服务标志和徽标，均由 Hyperion Exchange 拥有或授权。 **6. 终止**我们可能会立即终止或暂停您对我们服务的访问，无需提前通知或承担责任，原因包括但不限于您违反了这些条款。 **7. 适用法律** 本条款受英属维尔京群岛法律的管辖，并依照其法律进行解释和执行。 **8. 责任限制** Hyperion Exchange 对您在我们平台上进行交易可能遭受的任何损害或损失，无论是部分还是全部，概不负责。这包括但不限于因不可抗力事件造成的损失，例如ZK Fair网络生产区块的延迟、ZK Fair网络中断、oracle价格提要错误、黑客攻击、AWS服务器服务中断或其他无法预见的情况。这些事件可能导致用户在交易所持有的资产或头寸部分或全部损失，Hyperion Exchange对此类损失不承担责任。 **9. 联系我们** 如果您对这些条款有任何疑问，请通过官方联系方式与我们联系。 # 隐私政策 隐私政策最后更新于2024年01月20日 我们尊重您的隐私并致力于保护您的隐私权。请花时间仔细阅读我们的隐私政策。我们希望明确我们如何使用信息，以及您如何保护您的隐私。为确保透明度，本隐私政策描述了当您访问网站和使用服务时，我们的信息处理实践。本隐私政策中使用的所有定义均具有与Hyperion Exchange使用条款中相同的含义，除非本政策设定了不同的含义。 \ 通过访问网站或使用服务，即表示您接受本隐私政策的条款。在需要您的同意来处理您的个人信息时，我们会要求您同意收集、使用和披露您的个人信息，如下文进一步描述。如果您不同意本政策，请立即离开网站、卸载扩展或停止使用我们的服务。
### 我们如何使用您的个人信息 \ **使用数据** 我们可能处理有关您使用我们服务的信息（“使用数据”）。使用数据可能包括： 1\. 您的IP地址、地理位置、浏览器类型和版本、操作系统、推荐来源、访问时长、页面浏览和导航路径，以及您的服务使用时间、频率和模式； 2\. 您的设备号、设备ID或唯一标识符、设备类型和唯一设备令牌、操作系统和应用程序使用情况、应用程序崩溃数据、应用程序版本、设备标识符（如广告商标识符IDFA、Android ID、Playstore推荐URL、Google广告商ID、设备型号）； 3\. Cookies、本地存储文件。使用数据的来源是我们的分析跟踪系统和您对我们服务的使用。这些使用数据可能用于分析我们服务的使用情况。此处理的法律依据是您的同意和我们的合法利益，即监控和改进网站和服务。
**账户数据** 我们可能处理您的账户数据（“账户数据”）。账户数据可能包括您的昵称、电子邮箱地址、您的用户ID、您通过网站或服务生成的公共钱包地址。 \ **询问数据** 我们可能处理您就网站或服务向我们提交的任何询问中包含的信息（“询问数据”）。询问数据可能用于回应您的询问、提供、营销、纠正网站或服务中的任何不足，并向您销售相关服务。此处理的法律依据是您与我们之间的协议履行和/或应您的要求采取措施签订此类协议及我们的合法利益。 \ **客户关系数据** 我们可能处理与我们客户关系相关的信息，包括客户联系信息（“客户关系数据”）。客户关系数据可能包括您的姓名、昵称、您的联系方式（电话号码、社交媒体账号、电子邮件地址或您用于与我们沟通的其他社交网络或通讯软件标识符），以及我们与您之间通信中包含的信息。 \ **通信数据** 我们可能处理您发送给我们的任何通信中包含的信息（“通信数据”）。通信数据可能包括通信内容和您的联系信息（电话号码、社交媒体账号、电子邮件地址或您用于与我们沟通的其他社交网络或通讯软件标识符）。通信数据可能用于与您沟通和记录保存。此处理的法律依据是我们的合法利益，即适当管理网站和服务以及与用户的业务沟通。
### 您的个人信息 我们可能会向我们的关联公司、承包商和服务提供商披露您的个人信息，只要这样做对于实现本政策中列出的目的和法律依据是合理必要的。 \ 我们可能会向我们的保险公司和/或专业顾问披露您的个人信息，只要这样做对于获取或维持保险覆盖、管理风险、获取专业建议，或在法庭程序或行政或庭外程序中建立、行使或辩护法律主张是合理必要的。 \ 除了本节中特定的个人信息披露外，我们可能会在必要时披露您的个人信息，以遵守我们所受的法律义务，或为了保护您或其他自然人的重大利益。我们还可能在必要时披露您的个人信息，以在法庭程序或行政或庭外程序中建立、行使或辩护法律主张。 \ 如果适用法律要求（例如，您是欧洲经济区、英国或瑞士的居民），并且您的个人信息将被转移至我们的注册国家之外和/或欧洲经济区、英国或瑞士之外，我们将通过任何公认的转移方法来确保适当的保护水平，包括但不限于进入标准合同条款，以将个人信息转移到第三国的处理者。
### Cookies Cookie是存储在您设备上的一个小文件，包含一串字母和数字，用作唯一标识符。有时，Cookie还可以用于在网站上存储您的个人偏好设置。当您首次打开网站或服务时，可能会在您的设备上创建Cookie。当您下次打开时，Cookie会被发送回我们，从而让我们知道您已经访问过。我们自己不创建Cookie，而是使用为我们提供此服务的第三方提供商。 \ 我们通常出于以下目的使用Cookie： （a）身份验证 - 我们使用Cookie来识别您在访问网站或服务时以及在网站或服务中导航时的身份； （b）状态 - 我们使用Cookie来帮助我们确定您是否登录了网站或服务； （c）安全性 - 我们使用Cookie作为保护用户账户的安全措施的一部分，包括防止登录凭据的欺诈性使用，以及保护网站和服务； （d）分析 - 我们使用Cookie来帮助分析网站和服务的使用和性能； （e）Cookie同意 - 我们使用Cookie来存储您关于通用Cookie使用的偏好设置。 \ 我们使用来自值得信赖的第三方的分析包来不断改善您使用网站和服务的体验。您应阅读他们的隐私政策，以确保您对他们使用Cookie的方式感到满意。 \ 通常，您可以通过内置于您的网络浏览器或移动设备中的功能来激活或稍后停用Cookie的使用。
### 本地存储 本地存储，包括启用了Javascript的localStorage，是网站在浏览器中存储一小段字母和数字的文件的典型方式。我们使用本地存储文件来保持您在我们的客户支持平台上的登录状态。当存储它们的网站删除这些本地存储文件时，它们会被删除。您也可以随时通过访问您的网络浏览器设置来从浏览器中删除本地存储文件。您可以从浏览器中清除本地存储文件。
### 第三方 网站或服务可能包含指向其他网站或服务的链接。请注意，我们对这些网站或服务的隐私做法或内容不负责任，您应在提供任何个人信息之前查看每个此类网站或服务的隐私政策，以确保您对此感到满意。\
### 隐私政策的变更 我们可能会修改本隐私政策，并通过发送电子邮件、通过网站或服务提供通知或更新本隐私政策顶部的“最后更新”日期等方式通知这些变更。继续访问或使用网站或服务即表示您同意修改后的隐私政策。如果您不同意对本隐私政策的任何修改，您必须停止使用网站和服务。我们鼓励您经常查看隐私政策，以确保您了解适用于您访问和使用网站和服务的条款和条件。如果您对您的个人信息有任何请求，或对本隐私政策有任何疑问，请随时与我们联系。