Product: hNEST

The first native Leaf asset

Status: LIVE on HyperEVM · exit: sell on Leaf Market.

hNEST is HyperLeaf’s native integration with NEST on HyperEVM.

The product path is:

NEST
  ↓
NestVaultC1 (via EpochHNestGateV3)
  ↓
veNEST position
  ↓
Nest HEV managed strategy
  ↓
hNEST

hNEST is a transferable ERC-20 receipt representing a pro-rata claim on the NEST position held by HyperLeaf’s vault integration.

Claimed hNEST is transferable immediately.

The ~8-day circulation delay applies only while a deposit is still pending in the Gate.

Deposit & risk (app copy)

Deposit NEST (approve → deposit via Gate), wait ~8 days, then claim transferable hNEST. Pending Gate balance is not market Leaf. Exit is Leaf Market only — Hyperleaf does not redeem, does not bid, and does not guarantee a fill at NAV. Leaf Market is an early board while HyperEVM depth is thin; prices may trade at a discount or premium to book. Weekly WHYPE follows Nest’s schedule; Hyperleaf takes 1% after receipt and does not guarantee continuity. Deposits may revert ~1 hour around Thursday 00:00 UTC (Nest voting window) — wait and retry. Canceling in the wallet is not an on-chain failure. No hard peg, instant redeem, or fixed APY. For Nest’s own stake-and-unlock path, use Nest’s official UI. AI-developed. Reviewed across multiple rounds by different AIs. Not yet externally human-audited.

Admin key: The vault, deposit gate, staking adapter and Leaf Market are controlled by a single wallet, not a multisig. That key can change settings and upgrade the deposit gate contract. If it were lost or compromised, user funds could be at risk.

What hNEST is

hNEST is:

a transferable representation of a NEST-backed position;
designed for HyperEVM liquidity and composability;
backed according to the accounting rules of the live Nest integration.

What hNEST is not

hNEST is not:

a rebasing token;
an instant 1:1 NEST redemption promise;
a guaranteed-NAV stable asset;
a claim on the user’s own veNEST NFT;
a promise of all future Nest incentive streams;
a globally time-locked ERC-20 (hNEST itself is not locked for 8 days).

Deposit paths

Public app path — EpochHNestGateV3

Status: LIVE as the public app deposit path.

NestVaultC1: 0x138191fB339c3d4f043d7f412F7a2E5a4DEC2a01
hNEST: 0xD029517dFF4f7ab47087783bc247855164A9a4ff
EpochHNestGateV3 (proxy): 0xFe8352c9dc194cfC98F392aC828D0092893dE2C5
HevAdapter: 0x982dddE303c03f9a35D696d27e2C6b382848CEC8
Deposits wait a ~8-day Gate circulation delay, then Claim releases transferable hNEST
Pending Gate balance is not market Leaf yet
Direct vault deposit is not the public path — use Gate only
Wallet cancel / reject signature is not an on-chain failure

Leaf Market (same board)

Leaf Market: 0x6f29EA2894570b893B00C3f2305c184D7080CB34 (hNEST↔NEST)
Current-deposit hNEST and prior hNEST tickets both list/fill on this board; the app routes approve/list by the ticket you hold (no protocol-version labels in UI)

Prior open path — EpochHNestGateV2 (claim only)

NestVaultC1: 0x77F2682949978E8228fEC661EC45bAD5C6b9d765
hNEST: 0x584ECE6d1beD8308D0D212bF3D82Ec76B2069017
EpochHNestGateV2: 0x567E0856429eBb85cB168bB0552E42eE899E457b
HevAdapter: 0x24808fA38EEa7494c1Ed8551E7c0b9DdF577E0BE
UI deposits against V2 are off; claim / claimTranche remain for prior tickets

Prior Nest path V1 (still on-chain; not the public deposit door)

Prior NestVault: 0xaE7C4B1bdbEeD5B5923D856Ae53DF357CC86755c
Prior Gate: 0x900b53081E91EE9aeC318de2869772BA5c46a6A7
Prior HevAdapter: 0xCaCBfE2e5F67CBDE8f7Cbc3588C9Ca94Ec89A131
Prior hNEST tickets remain sellable on the Leaf Market above

How to exit

Users only see:

Sell on Leaf Market (list / fill / cancel)

hNEST has no protocol redeem CTA. Path: deposit NEST → Gate ~8 days → Claim hNEST → sell on Leaf Market.

Three clocks (distinct)

Do not collapse these into one “8-day hNEST lock.”

Clock	Approx.	What it is
HEV detachment	~4 days	Upstream managed-NFT detachment constraint
Nest epoch	~7 days	Nest weekly economic cycle / HyperLeaf weekly accounting
Gate circulation delay	~8 days	Product-layer wait only for Gate deposits before Claim

Yield today

Weekly WHYPE / HYPE is paid by Nest; HyperLeaf distributes after receipt and takes 1% of realized yield; continuity is not guaranteed.

Weekly HYPE rewards are paid by Nest. Hyperleaf only distributes them after they are received — continuity is not guaranteed. Each week’s HYPE is shared pro rata across all hNEST still unclaimed in the Gate, not only the epoch that just ended. Once you claim your hNEST, you no longer receive this share. If no hNEST is unclaimed when HYPE arrives, it may go to the current epoch or to the protocol fee address. We monitor for this and aim to return it manually; this is not enforced by the contract.

HyperLeaf does not treat an unverified upstream reward event as permission to mint additional hNEST liability.

How users should think about hNEST

hNEST is best understood as:

a liquid receipt over a long-duration, protocol-native NEST position.

The value proposition is not “instant NEST redemption.”

It is “own the NEST position while keeping a HyperEVM-native asset that can move through a secondary market.”