cHYPE
cHYPE is your receipt token. It represents your share of the vault.
Properties
| Property | Description |
|---|---|
| Standard | ERC-20 |
| Mechanism | Appreciating (not rebasing) |
| Composability | Use in DeFi protocols |
| Liquidity | Tradeable on secondary markets |
How It Works
Appreciating Token
Unlike rebasing tokens (where your balance changes), cHYPE uses an exchange rate model:
- Your cHYPE balance stays constant
- The exchange rate (cHYPE → HYPE) increases as yield accrues
- When you redeem, you get more HYPE than you deposited
Exchange Rate
cHYPE price = Total HYPE in vault / Total cHYPE supply
Example:
| Time | Vault HYPE | cHYPE Supply | Exchange Rate |
|---|---|---|---|
| Day 0 | 1,000,000 | 1,000,000 | 1.000 |
| Day 30 | 1,010,000 | 1,000,000 | 1.010 |
| Day 90 | 1,030,000 | 1,000,000 | 1.030 |
Your 100 cHYPE is worth 100 HYPE on Day 0, and 103 HYPE on Day 90.
Composability
cHYPE is a standard ERC-20. Potential use cases include:
Yield Tokenisation (e.g. Pendle)
Split cHYPE into:
- PT (Principal Token) — Fixed yield, redeemable at maturity
- YT (Yield Token) — Variable yield exposure
Trade future yield or lock in fixed rates.
Lending (e.g. Morpho, Euler, Felix)
Use cHYPE as collateral on lending protocols. Borrow against your yield position without selling.
Liquidity
Provide liquidity in cHYPE pairs on DEXs. Earn trading fees on top of vault yield.
WARNING
These are examples of potential integrations. Specific partnerships will be announced as they're confirmed.
Not a Governance Token
cHYPE is the product, not a governance token.
| What cHYPE Is | What cHYPE Isn't |
|---|---|
| Receipt for vault share | Governance rights |
| Yield-bearing asset | Another token to dump |
| Composable primitive | Speculation vehicle |
There is no separate Compost token.
INFO
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