Credit & Event-Driven Markets

In a R&D Phase

Credit and event-driven exposures represent the final layer of structured finance. Stratium brings credit-spread trading, default risk pricing, and event-linked payoffs onchain allowing institutional strategies once limited to OTC desks to operate transparently within Hyperliquid’s HIP-3.

Concept

In traditional markets, credit products like credit-default swaps (CDS), bond spreads, or event-linked notes allow traders to price the probability of corporate or sovereign default. Event-driven strategies extend this logic to outcomes such as mergers, liquidations, or protocol events.

Stratium transforms these discrete, high-information payoffs into continuous, onchain markets where credit and event risk can be expressed directly.

Market Types

Credit Spread Perpetuals

• Track the spread between risk-free yield and credit-sensitive benchmarks (e.g., tokenized corporate or sovereign indices).

• Enable traders to express views on credit tightening or widening.

Default Probability Index

• Derived from implied credit spreads across multiple issuers or protocols.

• Allows directional or hedged exposure to systemic credit risk.

Event-Driven Markets

• Capture binary or gradient outcomes of real-world or onchain events (mergers, upgrades, token unlocks, liquidations).

• Designed for analysts and funds specializing in event timing and volatility.

Structured Credit Basket

• Diversified exposure to multiple credit markets or risk tiers, functioning as an index of onchain credit health.