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Tagline: Real-world sector exposure for crypto-native markets.

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Overview

Scape is a protocol that brings commodity sector indices to Hyperliquid as HIP-3 perpetual contracts. Instead of individual commodities or synthetic equity exposure, users can access diversified baskets representing critical supply chain sectors. What Scape is:
  • Sector-based commodity indices (not equities)
  • Deployed as HIP-3 builder-operated perpetual markets
  • Currently live on Hyperliquid testnet
  • Priced via Oracle Provider (TBD)
What Scape is not:
  • Not equity indices or stock wrappers
  • Not physically-backed tokens (that’s the roadmap)
  • Not a custodian or warehouse operator
  • Not live on mainnet

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Two Phases

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s-baskets: Price-Referenced Sector Exposure

The current phase deploys synthetic sector indices as HIP-3 perpetuals on Hyperliquid testnet.How it works:
  1. Each index (sSEMIS, sDEFENSE, sAERO, sENERGY) tracks a basket of commodity prices
  2. Oracle Provider (TBD) supplies institutional-grade reference feeds
  3. A relayer/keeper publishes index values on-chain
  4. Users open long/short perpetual positions against the index
Key characteristics:
  • No physical inventory backing
  • Pure price exposure to commodity baskets
  • Isolated margin required (cross-margin later)
  • 2× fee structure vs validator-operated perps (HIP-3 standard)
Market activation:
  • Each ticker requires meeting HIP-3 deployment requirements
  • Activation mechanism design is TBD

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Why HIP-3?

HIP-3 is Hyperliquid’s standard for builder-deployed perpetual markets. It enables permissionless market creation with specific requirements and economics.

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HIP-3 Baseline Mechanics

ParameterSpecification
Deployment RequirementHIP-3 compliant per ticker (mainnet)
Margin ModeIsolated only (cross-margin later)
Fee Structure2× validator-operated perps
Fee Share50% to deployer (fixed)
Auction RequirementFirst 3 assets exempt; additional assets require auction
Testnet vs Mainnet: Current deployments are on Hyperliquid testnet. Mainnet requirements and behavior may differ. Confirm current specifications before mainnet participation.

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Deployer Responsibilities

Under HIP-3, the market deployer (Scape) is responsible for:
  • Oracle Setup: Defining the oracle configuration and price feed specifications
  • Oracle Updates: Operating the keeper/relayer that publishes price updates
  • Leverage Limits: Setting and maintaining appropriate leverage parameters
  • Settlement: Handling settlement mechanics per HIP-3 requirements
  • Market Operation: Ongoing operation of the market infrastructure

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Scape’s Role

Scape operates as the HIP-3 deployer for commodity sector indices. This means: Scape provides:
  • Index methodology and basket construction
  • Oracle integration and keeper operation
  • Market parameters (leverage, funding, etc.)
  • Documentation and transparency
Scape does not provide:
  • The underlying Hyperliquid infrastructure
  • Custody of user funds (non-custodial)
  • Guaranteed liquidity or market making
  • Physical commodity storage (currently)

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Getting Started

Explore Indices

See all available sector baskets and their compositions.

View Roadmap

Understand the path from synthetic to physical backing.