No HIP-3 stake
A HIP-3 perp on Hyperliquid needs a 500,000 HYPE stake and an auction for every extra asset. A Shortcap market needs a spot pool with 500 HYPE.
perps on elysium · graduated tokens
The other side of every launch.
Perps on Elysium's graduated tokens. Long or short, up to 5x, margined in HYPE. No HIP-3 stake, no oracle, no permission.
why shortcap
The perps HIP-3 will never list.
The long tail of Elysium trades on day one. It has no perps, no hedge, no short. Shortcap is where those perps live.
No oracle
The index is a 5-minute TWAP read directly from the token's deepest spot pool on Elysium. Nothing off-chain is trusted, because these tokens exist nowhere else.
No permission
Anyone opens a market on any graduated Elysium token in one transaction. One market per token, live as soon as the pool holds enough HYPE.
live · read from elysium testnet
refreshes every 3s
markets
—
all live
pit tvl
—
hype
open interest
—
hype, both sides
global long / short
long —— short
how it works
Four keys.
- 1
A token graduates
It leaves an Elysium launchpad. Its spot pool crosses 500 HYPE of liquidity.
- 2
Anyone opens the market
One transaction deploys an isolated vAMM for that token. One market per token.
- 3
Press long. Press short.
Margin in HYPE, 1x to 5x. Hourly funding pulls the mark toward the pool's TWAP.
- 4
The Pit takes the other side
One HYPE vault backs every market. Depositors earn fees and funding. They carry trader P&L.
guardrails
Thin pools, stated plainly.
Long-tail pools are thin. A thin pool can be pushed. These limits are on-chain, enforced on every trade, and the same for every market.
- oi cap
- 20% of spot liquidity per side
- max position
- a fixed share of spot liquidity
- min hold
- 60 seconds between open and close
- clamp
- index bounded to ±15% of spot
- auto-freeze
- spot more than 30% from the TWAP
- leverage
- 1x to 5x, liquidation at 80% margin usage
$scap
$SCAP is not launched.
No contract address exists. Launch details are announced on X only. Follow @shortcapxyz.
Press short.
Markets, funding, the Pit and $SCAP: every update is posted on X first.