FAQ & Glossary
What is a Leaf asset?
A Leaf asset is HyperEVM’s standardized representation of a productive underlying position.
Is a Leaf always redeemable 1:1?
No. The exit path depends on the listing. Some Leaf assets are instantly unwrap-able, some are market-only, and some use a withdrawal queue.
Is hNEST locked for 8 days?
No. The live hNEST token is transferable immediately.
The ~8-day circulation delay applies only while a deposit is still pending in EpochHNestGateV2. After that delay, Claim releases transferable hNEST.
Public deposits use Gate only — not a direct vault path.
What does “backed” mean?
It means the protocol recognizes economically realizable underlying backing for the outstanding Leaf supply. It does not mean that every holder can exit at NAV immediately.
What is C1?
C1 is the HyperLeaf product class for backed positions that do not have a normal protocol redemption path. The secondary market is the normal exit.
What is C2?
C2 represents positions that can be redeemed through a known queue or withdrawal delay.
Why can a Leaf trade below its accounting value?
Because liquidity has a time value. The market can discount a claim that is harder to exit, even when the underlying remains fully backed.
Does HyperLeaf pay HYPE on every Leaf?
No. HYPE rewards are listing-specific. Some yield is intrinsic to the Leaf’s value, while other yield may be converted into HYPE.
For hNEST, weekly HYPE is paid by Nest; HyperLeaf distributes after receipt; continuity is not guaranteed.
What is the protocol fee?
The target model is 1% of real yield, not principal.
Does HyperLeaf guarantee liquidity?
No. HyperLeaf can provide market infrastructure (including Leaf Market), but the protocol is not the permanent counterparty for every listing.
Is HyperLeaf a HYPE liquid staking protocol?
No. HyperLeaf focuses on bringing productive non-HYPE assets and positions into HyperEVM. HYPE is one distribution rail, not the product identity.
What is hNEST?
hNEST is the first LIVE native HyperLeaf asset, representing a NEST-backed position managed through the Nest integration.
What is Leaf Market?
Leaf Market is the on-chain board for transferring existing Leaf claims. The hNEST↔NEST same-chain board is LIVE.
What do LIVE / CANARY / PLANNED mean?
- LIVE — public product path today
- CANARY — infra present, not public live product
- PLANNED — roadmap / future only, not buyable
Glossary
Leaf — the HyperEVM representation of an underlying productive claim.
Backing — economically realizable underlying recognized against Leaf supply.
NAV / accounting value — the protocol-defined value of a Leaf claim before market liquidity effects.
L — Liquid exit topology; burn and return the underlying receipt.
C1 — Closed exit topology; market exit instead of protocol redemption.
C2 — Queued exit topology; burn, wait, then claim.
Intrinsic yield — yield already embedded in the value of the underlying receipt or share.
Side-token yield — rewards paid as a separate token.
Leaf Market — on-chain secondary market infrastructure for transferring existing Leaf claims.
EpochHNestGateV3 — public deposit path for hNEST (Nest V3); ~8-day circulation delay before Claim. V2/V1 are claim-only.
Source protocol — the upstream protocol whose economics back a Leaf.