Questions

You never open a perp position yourself, so nothing in your wallet can be margin-called. The vault manages margin for all holders and can cut or close its positions in an emergency. The vault itself can still be liquidated: a fast move against it can erase most or all of its value.

The token rebalances about every 4 hours or after a 10% move. In choppy markets those resets lose money even if prices end flat.

Every buy and sell through the pool pays a 1% pool fee. If the pool is thin, the vault mints at 0.1% or redeems at 0.3% instead. Bridge costs and gas are in the quote. The 1% pool fee goes to the pool's liquidity provider, which is us (Hyper Tokens). There is no other site fee. Vault fees go to Ensemble, which shares an owner with Hyper Tokens. Inside the token: 2% a year management, 0.1% builder fee on rebalance trades, Hyperliquid trading fees, and funding paid or received.

Pick what you pay with. Relay (or LI.FI as a fallback) bridges it to USDC on HyperEVM, buys your token through the USDC pool, or mints through the vault when the pool is thin, and it lands in your wallet. On the Relay route, about $0.50 of your payment arrives as HYPE so you can pay gas to sell later; the quote lists it. The quote shows the bridge's cost and time before you sign; each step needs a wallet signature.

Open Track a transfer and paste your transaction to see the latest confirmed stage. If USDC has arrived on HyperEVM but the purchase is not complete, open the Buy box and use the next action it shows. If the route reports a refund, check its status link and your wallet for confirmation before doing anything else. Until a stage shows as confirmed, treat it as pending.

Tap Portfolio at the top (or go to hypertokens.io/portfolio). It shows each Hyper Token in your connected wallet with the amount, your average entry price, the value now, profit or loss in $ and %, the change since yesterday, a value chart and your trade history with explorer links. It is all read from HyperEVM, so buys made from any device show up.

To buy and sell: MetaMask, Rabby, Phantom (its EVM side), OKX Wallet and Coinbase Wallet, in the browser extension or on your phone through WalletConnect. Any other EVM wallet installed in your browser works too. Solana wallets such as Phantom can pay for a buy from Solana, but the token arrives on HyperEVM, so selling needs an EVM wallet. Bitcoin and other non-EVM wallets are not supported.

No. Any EVM wallet (Rabby, MetaMask, Phantom) works; "Ethereum account" is just the standard name for your wallet address. Connecting no longer asks you to sign anything. Your wallet only asks when you confirm a buy or sell.

It's the amount that leaves your wallet, in the token shown next to it (for example 50 USDC, or 1.9 HYPE). The box below shows about how many Hyper Tokens you get and the least you'll get.

A failed simulation concerns only the wallet request being previewed: that request was not sent. It does not tell you the outcome of earlier steps, such as a bridge transfer you already signed. Check any recorded transaction hashes in Track a transfer and the route's status link before retrying. Common causes are the price moving or not leaving enough HYPE for gas; MAX keeps a little HYPE back, and Try again fetches a fresh price first.

Both. Each token (BULL, BEAR, VOL and the i-versions) is an ERC-4626 vault share: an ERC-20 token in your wallet on HyperEVM that you can add to MetaMask or Rabby by its contract address. Route: USDC pool first (1% fee); vault mint or redeem when the pool is thin. There are no exchange listings yet.

Not always, and it depends on the route. USDC pool first (1% fee); vault mint or redeem when the pool is thin. Pool sells depend on how much USDC the pool holds at that moment. Vault redemption is the fallback: it pays the vault's price less a 0.3% redemption fee, up to the vault's instant capacity, currently loading… for BULL (live on the Sell tab). A sell larger than both is refused, not queued: sell less, or wait until the pool or vault refills. Two things can stop a sell entirely: the vault's admin can pause or cap withdrawals (there is no timelock), and if the vault's position were liquidated on Hyperliquid there could be little or nothing to redeem.

Buying from another chain: usually no. On the Relay route, about $0.50 of your payment is swapped to HYPE and sent to your wallet for gas (the quote shows it as a line). The LI.FI fallback does not include it. Selling is a HyperEVM transaction, so you need a few cents of HYPE. If you run out, get HYPE on the Hyperliquid app.

On HyperEVM, at the EVM address you entered. Phantom doesn't show HyperEVM: open that address in MetaMask or Rabby (HyperEVM network) to see and sell it.

The vault computes NAV on-chain when you buy or sell. The site reads it every 15 seconds. Charts use a 5-minute on-chain record (with a coarser static fallback), plus the live read. Charts show available on-chain history only; history shorter than the selected range is labeled Since launch.

Hyper Tokens and Ensemble are owned by the same company. Hyper Tokens is the trading site; Ensemble runs the vaults. Hyper Tokens routes your order to the vault and never holds funds; Ensemble issues the tokens and holds the USDC and the Hyperliquid positions. Ensemble vaults are on-chain smart contracts: your deposit, shares, NAV and trades are handled by contracts on HyperEVM/HyperCore, and routine rebalancing can be triggered by anyone. You still have to trust the admin. The admin address (0x2c3c…a4d1) is a Fordefi MPC wallet, per Ensemble: the key is split across multiple parties, so it appears on-chain as a single address. It can change settings, pause or cap deposits and withdrawals, and upgrade the vault code. There is no on-chain timelock. Check the address on HyperEVMScan.

rHYPURR is not an Ensemble vault token, and none of the vault details on the Security page apply to it. Per rip.xyz, it is the share token of Rip's Hypurr Vault on HyperEVM, backed by Hypurr NFTs and WHYPE reserves. Here you swap it in a small ProjectX rHYPURR/HYPE pool with a 1% pool fee, and the pool price can differ from the vault's NAV. Liquidity is low, so even small trades move the price and you may not be able to sell at the price you see. Only use money you can afford to lose. Learn more at rip.xyz.

Anyone with a wallet, except residents of OFAC comprehensively sanctioned countries and regions: Cuba, Iran, North Korea, and the Crimea, Donetsk and Luhansk regions of Ukraine. US users are welcome. We don't geoblock; you are responsible for the laws where you live.