Product Mechanics
Strategy
WHLP automates the process of depositing to HLP while providing users with a transferable, DeFi-compatible token.
The strategy involves:
Multi-Asset Deposits: Accept USDHL, USDT0 and other assets on HyperEVM
Bridging: Bridge funds to HyperCore and convert to USDC at optimal prices
HLP Deposit: Deposit USDC to HLP through automated multisig operations
Yield Generation: Earn from trading fees, funding rates, and trader losses
Technical Implementation
Deposit Flow
User Deposits: Users deposit USDHL, USDT0 and other assets on HyperEVM through distributor frontends
Token Issuance: Users receive WHLP tokens representing their proportional vault share
Asset Conversion: Manager bridges deposited funds and sets limit orders to convert to USDC
HLP Deposits: Automated deposits USDC to HLP every 24 hours
Withdrawal Flow
Withdrawal Request: Users request WHLP redemption at any time
Daily Processing: Parts of the total NAV can be withdrawn daily to fulfill user withdrawals
Asset Conversion: Manager converts USDC to requested stablecoin
Bridge & Distribution: Assets bridged to HyperEVM and distributed to users
Withdrawal Limits
Standard Withdrawals: Immediate processing when sufficient HyperEVM liquidity exists
Daily Limit: Maximum 20% of total deposits processable within 24 hours
High Demand: Up to 5 days processing time when requests exceed 20% of vault deposits
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