HyperLeaf

The liquidity layer for productive assets

HyperLeaf is an AI-native liquidity protocol for productive assets.

AI writes the code. The chain proves the economics.

HyperLeaf brings productive assets from across chains into HyperEVM and turns their economic state into liquid, composable Leaf assets.

The core idea is simple:

Bring assets. Keep their yield. Make them productive.

Most bridges move the asset itself. HyperLeaf is designed to move the economic form of the asset: a staking receipt, a vault share, a vote-escrow position, or a time-locked claim — together with the information needed to understand its backing, yield, and exit path.

A Leaf asset is not just a wrapped token. It is the HyperEVM financial form of an underlying claim.

Why HyperEVM needs a Leaf layer

HyperEVM is optimized for trading, liquidity, and capital efficiency. The productive assets people already own, however, are fragmented across chains and protocols.

A user may hold:

• a liquid staking receipt on another chain;
• a vault share whose value grows over time;
• a vote-escrow position with a long duration;
• a staking position that cannot be exited immediately;
• a reward-bearing asset whose side rewards are paid in a different token.

The raw asset may be difficult to use on HyperEVM. The underlying position may also become less useful precisely because it is locked.

HyperLeaf exists to solve that mismatch.

What HyperLeaf does

HyperLeaf provides three layers:

1. Ingress

Bring productive assets into HyperEVM without throwing away the economic state that made them productive.

2. Representation

Issue a standard ERC-20 Leaf asset that reflects a clearly defined underlying claim.

3. Liquidity

Give that Leaf asset a place to trade, integrate, collateralize, and compose — including the on-chain Leaf Market for transferring ownership of existing claims.

The result is a new primitive:

productive position
        ↓
   Leaf representation
        ↓
HyperEVM liquidity + composability

The four words HyperLeaf refuses to mix

Backed means economically realizable underlying exists for the outstanding Leaf supply.

Redeemable means the protocol exposes a defined path back to the underlying.

Liquid means the asset can be traded in a market.

Fungible means the same token represents the same claim type.

These are different properties.

A Leaf can be backed without being instantly redeemable. It can be liquid without being redeemable by the protocol. It can be fungible while carrying a long-duration underlying position.

That distinction is foundational to HyperLeaf.

Status at a glance

HyperLeaf labels products clearly:

Two product families

Native Leaf assets

For assets that already live on HyperEVM, HyperLeaf can custody the underlying position directly and issue a native Leaf asset.

The current LIVE native example is hNEST, representing the NEST position held by HyperLeaf’s Nest integration.

Cross-chain Leaf assets

For assets that live elsewhere, HyperLeaf can lock or custody the source claim and issue a Leaf asset on HyperEVM.

Different underlying exit conditions create different product types:

• L — Liquid: instant exit by returning the same transferable receipt;
• C1 — Closed: backed and tradeable, but without a protocol redemption path;
• C2 — Queued: redeemable through a known delay and claim process.

LIVE today: - hNEST — C1 · Nest V3 Gate deposit · ~8 days then claim · exit Leaf Market only (no protocol redeem). Weekly WHYPE on Nest’s schedule. - hQUID / hAVNT — L · Base wraps · Burn to unwrap · no HyperLeaf intake cap - BLUAI4Y — sell-only · BSC 4y stake wrap · exit Leaf Market - hgSOON · hslisBNB — BSC liquid wraps · Burn to unwrap · rate in receipt · 1% skim · no HYPE - hsiBERA · hsAVAX · hstkwaUSDC · hLBTCv — burn unwrap · rate in receipt · 1% skim (pin chainIds; CREATE2 collisions on 0x4C86… / 0x6154…) - hORDER — sell-only · Arb Orderly stake · exit Leaf Market (ledger principal) - VAR pre-market — USDM claims live now. Settlement hVAR after TGE (PLANNED wrap).

PLANNED: hVAR wrap (Arb VAR → HyperEVM). If official VAR has a staking module, wrap that receipt — not a random liquid ticker.

Broader cross-chain wrapping beyond these LIVE tickers remains staged — contracts in a repository alone do not make a ticker live.

The point is not to make every asset behave the same. The point is to make the difference explicit.

What HyperLeaf is not

HyperLeaf is not another HYPE liquid staking protocol.

It is not a generic bridge.

It is not an APY farm.

It is not a treasury that promises to buy every Leaf asset at face value.

It is infrastructure for turning productive, sometimes locked assets into liquid HyperEVM-native financial instruments.

The north star

TVL is not the end goal.

A stronger measure of success is whether productive assets become useful across HyperEVM:

• used as collateral;
• paired in liquidity pools;
• integrated into vaults;
• used as margin or settlement collateral where appropriate;
• traded by users who need liquidity without forcing the underlying position to exit early.

The strongest Leaf asset is the one other protocols choose to support.

DEPRECATED BLUAI4Y 100-cap (do not wrap): SOURCE 0x4C862bC0922556e1bF02561bcf6Ff25e43826D5C / OFT 0xD54A90aeB220530D00343d4442ac50C0836f2F45 / Rewarder 0x3E29CE06a56fCE05Ce196e799d37Adf1dFD58407 / Escrow 0x1AD291026DF7EE2007E48FbEf3d37B4586073207 / Fill 0xC584DC17299ED969063a97a50a3070F36CeF3eB3. Old tickets may still sell; do not wrap again.

Address collision: 0x4C862bC0922556e1bF02561bcf6Ff25e43826D5C — ETH 1 hstkwaUSDC; 43114 hsAVAX; 80094 hsiBERA; 42161 hORDER; 56 dead BLUAI4Y. Always pin chainId. Converter 0xc89273AC… is also 43114 vs 80094 — pin chainId.

hNEST risk

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. 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.

Full product page: hNEST.

Paper Metrics

Mint cost uses the decayed effective mint rate after the cliff: 100 × (decay / (decay + tailProgress))² PAPER per $1 eligible loss. The displayed cost assumes 100% liquidation/loss and does not price expected trader profit.

Est. payback / APR is Research only. Denominator is staked PAPER (history paperStaked). Numerator is staker paperRevenue only (USDC actually distributed to stakers — aligns with the Papertrade staking page; not platform total income):

• 1h — Last complete hour paperRevenue
• 1d (default) — Last 24 complete hours sum

Only sealed hours roll at the hour boundary; the in-progress hour is never included. Pace: USDC ÷ staked ÷ hours. Shown as ~Xd (Y% APR). Same window pace; not a HyperLeaf fixed APR or guaranteed return.

See also Paper Metrics · live /app/paper/.

Cardboard Trade (Research outbound on /app/paper/) — mint cost & break-even notes: Paper Metrics.

Paper Escrow

Factory 0x4B00e74d8cbbFd2485b7135Ae6912E8676A63DfC (open source).

• Cash window is live; paperTransfersEnabled=false. After transfers unlock, users deliverPaper → settlePhysical.
• Exit pays sUSDM shares (not USDM). Protocol income is surplus shares sent to feeRecipient.
• OTC disclosures match the app; details on Paper Metrics.

Premarket USDM

This board takes USDM, not USDC. On Monetrix open Earn, mint USDC → USDM 1:1, then come back to list or buy. Referral code LEAF is in the Monetrix link. The vault wraps USDM to sUSDM; if the deal voids or expires you receive sUSDM, not USDC.

Premarket settlement

Official settlement token is expected on the origin chain, not HyperEVM. HyperLeaf lists the 1:1 Leaf here; delivery is wrap → Leaf, not a raw origin-chain transfer.

1. Now: open or buy claims with USDM. No delivery clock yet.
2. After the settlement Leaf is live and Leaf Market posts the 1:1 rate, a series can be resolved — that starts 48 hours.
3. Seller: wrap the source token → Leaf on this site, 1:1, and deliver within those 48 hours.
4. Buyer: redeem the Leaf on HyperEVM (LP, etc.) or unwrap back to the origin asset.

HyperLeaf posts the settlement token and the rate. That key is still a canary owner, not a Safe — size positions accordingly until it is. Resolve and Deliver stay off until the rate is posted.

Leaf wrap

Leaf wrap moves an inner receipt on its source chain onto HyperEVM as a transferable Leaf. Protocol typically skims 1% where rate-based. Exit is burn unwrap (when enabled) or sell on Leaf Market. Do not send inner assets to HyperLeaf until the product page shows LIVE. Do not reuse abandoned SOURCE / OFT addresses or other Leaf routes. Contract addresses: Transparency.