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. Use it anywhere:
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
Use cHYPE as collateral on:
- Morpho
- Euler
- Felix Lending
Borrow against your yield position without selling.
Liquidity
Provide liquidity in cHYPE pairs on DEXs. Earn trading fees on top of vault yield.
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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