Hypercall (by $SYN)✓

The most-traded instrument in the world comes on-chain. Trade options on Hypercall.

Managed vaults are coming to Hypercall. A vault lets you put money behind someone who sells options on Hyperliquid for a living, and see every trade they make. We're building them because the easy yield on Hyperliquid has dried up.

You shouldn't have to trust the trader. The vault's books live in the exchange engine, so they can't mark their own positions or move your money. Every fill has to land near the engine's mark, and each vault has a mandate the exchange enforces. Everything is public.

The first two vaults are SLP, a market making vault for options, and single-stock covered call vaults on xStocks like NVDA. More on both tomorrow.

RT @DustinZinger: Covered call vaults are coming to Hypercall. Stocks came to Hyperliquid as perps first. Open interest on trade[xyz] went from $372M in January to $3.89B. Options are next, and vaults make them simple to use. Hypercall is in Mainnet Alpha. $SYN $SONI.CN $SONIF

Everything is coming to Hyperliquid. Stocks showed up as perps first. Open interest on trade[xyz] went from $372M in January to $3.89B today.

Next: what if someone ran this for you, and you could see every trade they made? More tomorrow.

Yield first. Covered calls are coming to Hypercall. Pick a strike and expiry, makers bid, and you get paid in USDC up front. Above your strike at expiry, you sell at that price. Otherwise you keep it.

We've run this on Ink with Hypercall Earn since September. Now it comes home. A covered call sits in your Hypercall account next to your perps and options. It costs no margin, and you can buy it back any time.

So what's holding spot back? Two things you take for granted in a brokerage account: You can't borrow against it. It doesn't pay you anything.

Now the spot is arriving. xStocks are live on HyperCore, and tokenized stock trading there went from basically nothing to $21M a month. It's early. But owning the thing is the next step after betting on its price.

Options chad @momilio breaks down the size of the oppurtunity. Worth a read.

RT @HypedLaunches: Hypercall ($SYN) has officially launched RFQ V2, another important step forward for options trading on Hyperliquid. The upgrade is designed to improve execution for larger trades by allowing multiple market makers to compete for the same order. Key improvements: - Up to 10 option legs executed atomically. - Multiple market makers competing for better prices. - Anonymous trading to protect account identity. - Orders split across makers with all-or-nothing execution. - Up to 1,024 firm quotes supported in a single sweep. - Zero builder fees at launch. The example shows five BTC call spreads executed at an average premium of $510.80 per spread, combining quotes from two market makers. These are illustrative prices, not actual trades. RFQ V2 is currently API-only, with the existing V1 interface remaining available. What stands out to me is how Hyperliquid's ecosystem keeps expanding beyond perpetual futures. Better execution infrastructure is exactly what sophisticated options markets need to attract larger participants. #Hyperliquid #HYPE #SYN #DeFi #OptionsTrading

RFQ V2 is live on Hypercall: better fills on size. Makers compete to price your package. Up to 10 legs fill as one trade, so no legging risk. Stay anonymous, so makers price the trade, not the wallet. Sweep the best quotes across makers in one go: all fill or none.

Every fill checks all three signatures, signer approval, remaining size, self-trade across account, manager, signer and provider, MMP, and margin on both sides. Builder fees are zero at launch. Docs:

Building a maker? cargo add hypercall-client v0.3.0 ships RFQ V2 signing, transport and recovery, on by default. The rfq_v2_maker example arms the dead-man switch and signs firm quotes.