srHYPE

Summary

Stratium is launching srHYPE, a liquid staking token for HYPE holders who want to participate in Stratium's HIP-3 perpetuals exchange.

  • LST: HYPE depositors receive srHYPE, representing their principal plus accrued rewards. Fully transferable.

  • Yield: srHYPE holders earn native HYPE staking yield and a share of trading fees generated on Stratium perps.

  • Withdrawals: Redeem srHYPE for HYPE anytime, subject to available liquidity above the 500K HYPE minimum stake requirement.

  • Incentives: Early depositors earn Stratium points. Details coming soon.

Background

HIP-3 deployers on Hyperliquid must maintain a minimum 500K HYPE stake to operate a subdex.

Stratium is creating srHYPE to secure this stake while giving depositors exposure to both native staking yield and exchange fee revenue. srHYPE is a fully transferable ERC20 token representing your claim on the underlying HYPE plus accumulated rewards.

Yield

srHYPE generates yield from two sources:

  1. Native staking yield – Standard Hyperliquid staking rewards (less validator commission)

  2. Trading fee share – A portion of fees generated through Stratium's perpetuals markets

Fee rewards are distributed proportionally based on your share of total staked HYPE. The srHYPE exchange rate against HYPE increases over time as yield accrues—no manual claiming required.

Withdrawals

srHYPE holders may withdraw HYPE at any time, provided there's sufficient liquidity above the 500K HYPE minimum stake requirement.

Withdrawals follow a two-step process:

  1. Request withdrawal – Your request enters a global queue (FIFO). You continue earning staking yield while queued, and can cancel anytime before processing.

  2. Claim HYPE – After processing and Hyperliquid's ~7-8.5 day unstaking period, claim your HYPE to your HyperCore spot account.

If the vault is at or below the minimum, withdrawals queue until liquidity becomes available.

FAQs

What is srHYPE? A liquid staking token representing your HYPE deposit plus accumulated yield. Fully transferable.

How does yield work? You earn native Hyperliquid staking yield plus a proportional share of Stratium trading fees. Both accrue automatically via the srHYPE/HYPE exchange rate.

When can I withdraw? Anytime there's HYPE above the 500K minimum. If the vault hits the floor, withdrawals pause until more liquidity is added or Hyperliquid reduces the minimum requirement.

What are the risks?

  • Standard HIP-3 slashing conditions per Hyperliquid docs

  • Withdrawal liquidity risk if deposits approach the minimum threshold

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