FAQ

Is $SCAP live?

No. $SCAP is not launched and no contract address exists. Launch details are announced on X only, by @shortcapxyz. Any address presented as $SCAP before that is a scam.

Can I short a token before it graduates?

No. A market opens only on a token whose spot pool on Elysium holds the minimum liquidity. Tokens still on a bonding curve have no pool to read an index from.

Who runs the oracle?

Nobody. The index is computed on-chain, on every call, from the token's spot pool on Elysium. There is no feed, no keeper and no signer.

What if the spot pool is drained?

The open-interest caps follow the pool's liquidity, so new positions shrink with it. A sharp price move freezes the market. Open positions can still close and be liquidated, because P&L is measured on the market's own vAMM, not on the pool.

Is this audited?

No. Shortcap runs on the Elysium testnet and the contracts are unaudited.

What is the maximum leverage?

5x. Leverage is a whole number from 1x to 5x.

How long must I hold a position?

60 seconds between opening and closing. It stops open-and-close in a single block against a pushed pool.

Where do my losses go?

To the Pit. The Pit is the counterparty to every trade. Its depositors also pay your profits.

How do I earn from Shortcap without trading?

Deposit HYPE in the Pit. You earn 50% of all fees and the losses of losing traders. You pay the profits of winning traders. The Pit can lose HYPE.

Why HYPE and not a stablecoin?

HYPE is Elysium's gas and its main asset. Margin in HYPE means nothing to bridge, wrap or approve. It also means P&L is in HYPE: a short that profits pays you more HYPE, whatever HYPE itself does.