HELIX// vault home trade stats leaderboard risk receipts market copytrade
MOCK deposit
HLP TVL $0 · share px $0 · APR 7d 0% · peak $0 · drawdown 0.00% · depositors 0 · bootstrap — / — · live
HLP

put USDC to work as the house. — earn every fee, take every counter-trade.

50% of protocol fees · cross-market · 8% drawdown gate deposit USDC → see bootstrap terms
B0 BOOTSTRAP // 4-week window · 2× $HELIX emissions on the first $1M deposited cap$1,000,000 filled$0 remaining$0 ends in— d
01 progress
0% filled 0% time elapsed
  • cap$1,000,000
  • filled$0
  • early depositors0
  • window28 days · 4 weeks
02 emissions
base 1.60 $HELIX / USDC
bootstrap multiplier 2.0×
effective 3.20 $HELIX / USDC
vesting 28 d · linear
referral kickback 10% of bonus
03 founder seed
  • founder USDC locked$250,000
  • lock period90 d
  • unlock in— d
  • purposeday-1 TVL skin in the game

Founder deposit unlocks linearly across the 90-day window. Withdrawing early forfeits unvested $HELIX emissions back to the HLP residual.

// math helix_owed = deposit_usdc × base_per_usdc × (active ? multiplier : 1) — vests over 28d · // risk if vault enters >8% drawdown, withdrawals pause until peak recovers — emissions keep accruing while paused
01 DEPOSIT // USDC → hlp shares · withdraw any time outside drawdown gate share px$1.0418 min deposit$100 single-tx cap$5M
deposit USDC simulated · API mock
est. shares959.55
est. $HELIX3,200
bootstrap multiplier2.0× active
vesting28d linear
cross-vault · earns 50% of every fee · MMR backstop
withdraw subject to drawdown gate
est. USDC$104.18
current share px$1.0418
vault drawdown0.00%
gate statusopen
gate triggers if vault >8% off peak · withdrawals reopen on recovery
live vault stats auto-refresh · 4s
  • TVL$0
  • peak TVL$0
  • share price$0
  • shares outstanding0
  • APR · 7d0%
  • depositors0
  • drawdown0.00%
  • drawdown gateopen
drawdown gauge0.00%
8% gate
02 MECHANICS // where the yield comes from · what your USDC is doing
01

You deposit USDC

Your USDC mints HLP shares at the current share price. Bootstrap deposits also accrue 2× $HELIX over a 28-day vest.

hlpDeposit(usdc) → shares
↓
02

HLP is the counterparty

Every perp position trades against the vault. Trader wins = HLP pays. Trader loses = HLP keeps the margin. Pool-wide skew is what matters — individual trader PnL is averaged out across 24 markets.

trader_pnl = (mark − entry) × notional · (-1)^side
↓
03

HLP earns 50% of fees

Maker 0.025% + taker 0.045% + funding settlements. 50% to $HELIX stakers, 50% to HLP. With $184M daily volume, that's ~$90K/day to HLP at typical fee mix.

apr ≈ fees_to_hlp × 365 / TVL
↓
04

HLP absorbs liquidation residuals

When a position liquidates below the 1% bounty floor, residual loss goes to HLP — no socialized P&L for other traders. The insurance fund (2% of fees, capped $1M) is the first buffer.

residual_loss → insurance_fund → HLP
03 RISK // be sober about what can go wrong
▲ trader streak

If traders win on net for a sustained window, HLP NAV draws down. The 8% drawdown gate pauses withdrawals to prevent bank runs — emissions keep accruing while paused.

  • gate trigger8% off peak
  • recoveryauto on new peak
⚙ oracle stale / wrong

2-source oracle: Chainlink mainnet + AMM 10-min TWAP, taken as median. If both sources disagree by >1.5%, mark price is bounded to the closer source.

  • sourceschainlink + AMM TWAP
  • twap window600 s
⚐ smart contract

HelixPerps is immutable: no admin, no proxy, no upgrade path. Audits queued — Trail of Bits, Spearbit, Cantina. The first long is the first onchain event; nothing live yet.

  • adminnone
  • upgrade pathdisabled
04 FAQ // short answers
What does HLP actually do with my USDC?
It sits as the counterparty to every perp trade and earns 50% of every fee. When traders win, HLP NAV ticks down by their PnL; when traders lose, HLP keeps the lost margin. Across many markets and time, the fee yield dominates — but the vault carries directional risk during sustained trader-favorable regimes.
What is the bootstrap window?
The first $1M of HLP deposits earns 2× $HELIX emissions for 28 days, vested linearly. After the cap fills or the timer ends, emissions revert to base rate (1.6 $HELIX / USDC). Designed to seed day-1 TVL without giving anyone a permanent edge.
Can I withdraw whenever I want?
Yes — unless the vault is >8% off its peak NAV. In drawdown, withdrawals pause until the pool recovers. This is the drawdown gate, hard-coded in the contract at HLP_DRAWDOWN_GATE_BPS = 800.
Why a multiplier and not just a higher base rate?
Bootstrap is a one-time skin-in-the-game incentive. Higher base rate would never sunset; multiplier × window naturally fades. Capping at $1M also keeps the dilution bounded — you can't farm bootstrap forever.
What's the referral kickback?
If a referrer address is provided, 10% of the bootstrap bonus emissions go to that wallet (also vested 28d). Doesn't dilute your own claim — it comes out of the same emissions bucket the contract was already allocating to your deposit.
What happens if the vault goes to zero?
Theoretically possible during a black-swan event where traders capture >100% of TVL. In practice the drawdown gate + insurance fund + position limits cap exposure long before that. There's no socialized loss to traders — HLP eats every dollar, that's the deal.