General
What is Scape?
What is Scape?
Scape is a protocol that brings commodity sector indices to Hyperliquid as HIP-3 perpetual contracts. It provides crypto-native access to baskets of commodities tied to specific supply chain sectors like semiconductors, defense, aerospace, and energy.Key points:
- Currently on Hyperliquid testnet
- Four sector indices: sSEMIS, sDEFENSE, sAERO, sENERGY
- Synthetic indices now; physical backing on roadmap (Q2 2026)
Learn More
Full explanation of what Scape is.
Why commodities instead of equities?
Why commodities instead of equities?
Commodities provide direct exposure to physical supply/demand constraints, not corporate execution. If your thesis is about semiconductor material availability, a commodity basket gives you that thesis directly—without company management, dividends, or stock market hours getting in the way.
Why Commodities
Detailed comparison of commodity vs equity exposure.
Is Scape live on mainnet?
Is Scape live on mainnet?
No. All Scape markets are currently on Hyperliquid testnet. Mainnet deployment timeline is TBD. Testnet assets have no real value.
What oracle does Scape use?
What oracle does Scape use?
Oracle Provider (TBD). The specific oracle provider has not been finalized. This documentation will be updated when selection is complete.
Indices
What indices are available?
What indices are available?
Four sector indices:
| Index | Sector | Key Commodities |
|---|---|---|
| sSEMIS | Semiconductors | Cu, Al, Si, Sn, Ag |
| sDEFENSE | Defense | W, NdPr, U₃O₈, Ni, Sb |
| sAERO | Aerospace | Ti, Ni, Al, Cu, Co |
| sENERGY | Energy | Brent, Mars, Naphtha, NdPr, Poly |
Index Details
Full index compositions and methodology.
How are index weights determined?
How are index weights determined?
Weights are currently fixed at launch based on sector relevance, market accessibility, and diversification considerations. Future governance may enable weight changes (TBD).
Will the indices rebalance?
Will the indices rebalance?
Not currently. Weights are fixed. Programmatic or governance-driven rebalancing is on the roadmap but not implemented.
What's the difference between s-baskets and x-baskets?
What's the difference between s-baskets and x-baskets?
| Aspect | s-basket | x-basket |
|---|---|---|
| Backing | None (synthetic) | Physical warehouse receipts |
| Pricing | Oracle feed | NAV from inventory |
| Status | Available now (testnet) | Roadmap (Q2 2026) |
| Redemption | None | AP-only physical |
Roadmap
When will Scape launch on mainnet?
When will Scape launch on mainnet?
Mainnet deployment timeline is TBD. Current focus is testnet validation and development.
What are constraint tokens?
What are constraint tokens?
Constraint tokens (x-baskets) are physically-backed tokens representing warehouse inventory. Unlike synthetic s-baskets, x-baskets are redeemable for physical commodities through Authorized Participants (APs).Target: Q2 2026
Constraint Tokens
Full explanation of physical backing.
Can I redeem x-baskets for physical commodities?
Can I redeem x-baskets for physical commodities?
Retail users cannot directly redeem x-baskets for physical commodities. Only Authorized Participants (APs) can mint and redeem. Retail accesses x-baskets on the secondary market.
Will there be a governance token?
Will there be a governance token?
No governance token exists today. Future governance mechanisms are on the roadmap but not finalized. Any token launch would be announced with full details.
Risks
What are the main risks?
What are the main risks?
Key risks include:
- Liquidation risk: Leveraged positions can be liquidated
- Oracle risk: Prices depend on external oracle
- Smart contract risk: Code may have bugs
- Testnet risk: Current deployments are testnet only
- Market risk: Commodity prices are volatile
Is Scape audited?
Is Scape audited?
Audit status: TBD — confirm. This documentation will be updated when security reviews are complete.
Is this financial advice?
Is this financial advice?
No. This documentation is for informational purposes only. It does not constitute financial, investment, legal, or tax advice. Consult qualified professionals before participating.
Full Disclaimer
Complete legal disclaimer.
Technical
What blockchain is Scape built on?
What blockchain is Scape built on?
Scape markets are deployed on Hyperliquid via the HIP-3 standard. Hyperliquid is a purpose-built derivatives exchange.
How often are prices updated?
How often are prices updated?
Update frequency is TBD. Oracle updates are published by the Scape keeper based on price changes and time intervals (exact parameters TBD).
Is the code open source?
Is the code open source?
TBD — confirm. Check the Scape GitHub for current repositories.
Still Have Questions?
Contact the Team
Reach out directly for questions not covered here.