For institutions & allocators
Audited quant exposure on Hyperliquid,
wrapped in ERC-4626.
Convexity is a marketplace of curated quant strategies on HyperEVM. Operators run them; vaults wrap them; you deposit USDC and receive a transferable share token. Every NAV, every fee, every redemption is on-chain and verifiable in real time.
Platform TVL
$0
live, on-chain
Live strategies
0
curated operators
Mean APY
TBD
30d annualized
Best Sharpe
TBD
risk-adjusted return
Why Convexity
Yearn for the Hyperliquid era.
The biggest perp DEX in crypto generates structural alpha — funding rates, basis spreads, market-making rebates — that today only sophisticated desks capture. Convexity exposes that alpha to anyone with a wallet, at the same transparency standard as an ERC-4626 vault on Ethereum.
01
Operator curation, not anyone-can-deploy
Every vault is run by an allowlisted operator. Allowlist controls the right to ELEVATE fees, not the right to draw user funds — those flow on a fixed contract path.
02
ERC-4626 share token
Deposit returns transferable shares. Composes with money markets, structured products, secondary OTC — anywhere a standard 4626 token is accepted.
03
Funds never leave the contract path
Operators can place orders and bridge to HyperCore, but cannot withdraw to a wallet. Redemptions land back to the depositor only.
04
Asynchronous redemption queue
Each vault publishes a max-settlement-delay SLA. Operators have a fixed window to unwind hedges. Predictable for both LPs and strategies.
05
Real-time NAV
NAV crosses EVM + HyperCore balances and updates on every interaction. No off-chain oracle, no daily NAV strike.
06
Audit-ready, by construction
One reviewable Solidity surface across all strategies. Each strategy inherits the same vault + queue. Audit cost is amortized across the whole platform.
Strategy framework
Four primitives ship at launch.
Every v1 strategy is structurally positive-expected-return. Directional bets (looping, CLAMM LP, SmartETF) are deferred to v2, after a full audit cycle.
Operator-pushed yield
Simplest possible positive-PnL primitive. NAV grows when the operator calls addYield(amount). Zero on-chain trading.
Sharpe target: ∞ · vol target: 0%
USDC money-market routing
Routes idle USDC to the highest-yielding HyperEVM market (HyperLend, Felix, etc). Pure HyperEVM, no HyperCore.
Target APY: 6-12% · max DD: <1%
Funding-rate capture
Long spot + short perp on the same asset. Harvests funding when longs dominate. Hedge band auto-rebalances.
Target APY: 12-25% · max DD: <5%
ERC-20 wrapper over HLP
Wraps Hyperliquid's official HLP into a transferable share token. Inherits HLP's fee + funding capture.
Target APY: 10-20% · max DD: HLP's
Audit & security
Conservative defaults. Public process.
The platform launched on Hyperliquid testnet on 2026-05-10 with all 28 deploy transactions confirmed and ALL CHECKS PASSED on the read-only verifier. Mainnet ships after the external audit + a 7-day testnet soak with anchor capital.
- ▸Single inheritance hierarchy — one
HyperVault.solbase, four strategy subclasses - ▸Inflation-attack defenses: DEAD_SHARES + SEED_ASSETS at clone init
- ▸Ownable2Step everywhere. Multisig (Safe) takes ownership before mainnet open
- ▸Operator tier-elevation is allowlist-gated; payout splits are immutable
- ▸Async redemption queue caps the operator's window to unwind
- ▸189 Solidity tests + 72 Python agent tests, green on every commit
Risk disclosures
Smart-contract risk
Every vault is upgrade-frozen post-audit. Code is open-source and verified on the explorer. An exploit in the base vault would impact all strategies.
Operator risk
Operators cannot withdraw user funds but CAN take on positions that lose money. Maximum loss is bounded by available collateral on each leg.
HyperEVM / HyperCore risk
Strategies that bridge to HyperCore depend on the HL bridge + CoreWriter availability. Hyperliquid outages will delay settlement on those vaults.
Strategy-specific risk
DN funding can flip negative for extended periods. Tokenized HLP inherits HLP's queue + drawdown risk. Each vault's detail page lists strategy-specific scenarios.
Where we are
Built in public. Shipped in weeks, not quarters.
Solidity tests
189
100% pass
Python tests
80
100% pass
V1 strategies
4
positive-EV only
Weeks to testnet
6
from clean repo
Get in touch
Sized capital, term sheet, or just curious.
We respond within one business day. Honest answers, fast.