HyperNeutral

HyperNeutral: Next-gen Delta-neutral Stablecoin Protocol, Built on Hyperliquid.

🔍 Abstract

HyperNeutral is a next-generation delta-neutral stablecoin protocol, fully built on Hyperliquid using CoreWriter. Unlike existing designs that rely on off-chain trust (e.g., Ethena), HyperNeutral achieves a fully on-chain, transparent, and trustless implementation. CoreWriter enables atomic spot + perp hedging, seamlessly connecting HyperEVM and HyperCore to deliver stability with risk-controlled yield.

🛠️ How It Works

1. User Deposits: Users deposit USDC/USDT into the protocol.
2. Delta-Neutral Portfolio:
   1. Part of the funds will purchase spot assets
   2. Another part opens perpetual short positions
   3. Together, the portfolio remains neutral to market volatility
3. HYUSD Issuance: hyUSD stablecoins are minted against this hedged portfolio.
4. Funding Rate Yield: hyUSD holders receive additional returns from perp funding rates.

Core Advantage: This mechanism ensures stability while maximizing yield sources — all executed atomically and on-chain via Hyperliquid liquidity.

💡 Why It Matters

• 🚀 First fully on-chain delta-neutral stablecoin — no off-chain trust assumptions.

• 🔗 Native to Hyperliquid — leveraging CoreWriter for liquidity and atomic hedging.

• 📈 Risk-controlled yield — stable by design, with funding rate upside.

• 🧩 Composable — a new DeFi primitive that other protocols and treasuries can integrate.

💻 Demo

https://youtu.be/BjH3LaqQLnA

📂 Project Links

Include links to anything relevant:

• Code:
  https://github.com/hyusdhyperneutral-gif/hyusd                         https://github.com/hyusdhyperneutral-gif/hyusd_contracts
• Designs / visual assets: https://www.hyperneutral.org/
• Docs/explainer Notion: https://www.hyperneutral.org/dashboard
• Live demo URL (if hosted): https://www.hyperneutral.org/dapp

👥 Team

Andy: Core smart contract developer from a leading DeFi protocol

Link: Trader & product architect with deep perp market experience

[email protected]

👉 In short: HyperNeutral is the Ethena of Hyperliquid — but fully on-chain. By eliminating off-chain trust and leveraging CoreWriter for atomic hedging, it sets a new standard for stablecoins, yields, and DeFi composability.