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How hyper.dao works

Every coin is a trade, and every DAO trades on Hyperliquid. Here is what happens to the money, who can touch it, and what can go wrong.

How it works#

A DAO on hyper.dao is a coin on pump.fun, paired with USDC, that funds its own trading account on Hyperliquid. The coin’s creator fees are the DAO’s money; the rules locked at launch decide how it trades.

How a creator fee becomes a position, and where the profit goes.

To launch, you pick a strategy, name the coin and lock the rules; one transaction creates the coin and its fee split. From then on, 80% of every creator fee lands in the DAO’s own wallet, which sends it to the DAO’s Hyperliquid account through Circle’s CCTP. That balance is the DAO’s value.

The strategy decides the trade, and every order is checked against the rules before it reaches Hyperliquid. Positions, value, PnL and limits are public on the DAO page, and the account itself is public on Hyperliquid. On take-profit, stop, freeze or the end date, every position closes and what is left goes to the DAO’s profit use.

Strategies#

Each DAO launches with one strategy and keeps it.

Fixed thesis
Who decidesLocked at launch; the engine runs it
Position sizeThe whole fund as margin, at the locked leverage
Example$LONGHYPE
Managed
Who decidesThe owner, from the terminal
Position sizeUp to the per-market cap, at most 50% of value
Example$DESK
Community
Who decidesHolders vote every round (7 days)
Position sizeThe whole fund as margin, at the voted leverage
Example$HIVE

Fixed thesis

The launcher locks one trade at launch: a market, a direction, leverage, a take-profit and a stop. For example $LONGHYPE: long HYPE at 3x, closing at +50% or −30% on margin. The engine opens the position as fees arrive and adds to it as more come in, so the position is always the DAO’s value times its leverage. Nobody trades it by hand. When it closes, the DAO is marked won or lost. A lost trade doesn’t move anyone’s tokens, but the coin’s price can fall to nothing.

Managed

The owner trades the DAO from the hyper.dao terminal, inside limits locked at launch: which markets, how much leverage, and how big a position can be in any one market. The owner can trade the money but never withdraw it. Every order and fill is public.

Community

Holders vote every round, seven days by default, on the next thesis: a market from the allowed list, a direction and leverage within the cap. Votes are weighted by balance and signed with your wallet, for free. The engine executes the winner with the whole fund, just as it runs a fixed thesis.

Fees#

pump.fun charges a creator fee on every trade of a DAO’s coin. The launch transaction splits it, and the split is locked on chain: nobody can change it later, including us.

80% funds the DAO’s trade, 10% goes to the owner, and 10% to hyper.dao, which buys back & burns $HYPER.

hyper.dao’s 10% share is the only money that buys back and burns $HYPER, automatically, from a public treasury wallet. hyper.dao also attaches a small builder fee to each order a DAO places on Hyperliquid; it stays on Hyperliquid at hyper.dao’s builder address and does not buy $HYPER.

Launching costs the Solana network fee, plus your optional dev buy. Claiming a payout costs a small network fee, paid by the holder who claims.

Profit, payouts and buybacks#

Each DAO picks what realized profit is for when it launches, and the choice is locked with the rules. The default is to buy back & burn: profit buys the coin back and burns it, and no distributions are promised. The other choice is payouts: monthly or quarterly, a set share of new trading profit (what the DAO has made above the creator fees put in) is paid to holders in USDC, plus a final payout of everything left at the end.

Payout shares are averaged over the holding period from hourly snapshots, so buying the minute before a payout earns almost nothing. The bonding curve, the pool and the DAO wallet are not counted. You claim your USDC on the DAO page or in your portfolio.

How a DAO ends#

A DAO trades until the first of five things happens. Then it closes every position, and what is left goes to its profit use.

Whichever comes first ends the trade. The coin keeps trading on pump.fun.

Rules#

Every DAO is born with rules that can never change. Their hash is written into the coin’s metadata, so anyone can check them.

Duration
Range30 days – 1 year
Default90 days
Applies toEvery DAO
Markets
RangeMajors, liquid perps or a list
DefaultMajors
Applies toManaged and community
Leverage
Range1x – 5x
Default3x
Applies toEvery DAO
Max position per market
Range5% – 50% of value
Default25%
Applies toManaged only
Drawdown freeze
Range20% – 50% from peak
Default35%
Applies toEvery DAO
Take-profit and stop
RangeTP 0 – 1,000%, SL 10 – 90%
Default+50% / −30%
Applies toThesis and community

Only liquid Hyperliquid validator perps are allowed, because a thin market would let an owner drain a DAO by trading against themselves. A thesis holds one position with the whole fund as margin, so its size is the DAO’s value times its leverage; the per-market cap only limits managed DAOs, which can hold several positions. For the same reason a thesis’s stop belongs inside its drawdown freeze: a stop at or past the freeze never fires, because the freeze closes the DAO first, and the launch form says so. Whatever the rules, holders of more than half the supply can sign a vote to freeze a DAO early.

Safety and key custody#

hyper.dao holds the keys that move a DAO’s money. That is a real trust assumption, and here is how it is limited.

Your wallet
Held byYou
CanSign the launch, receive the owner’s 10%, trade a managed DAO through hyper.dao
DAO wallet (Solana)
Held bySealed server key
CanReceive the 80%, bridge it to Hyperliquid, pay claims
DAO account (Hyperliquid)
Held bySealed server key
CanApprove its trade-only key once; withdraw only for payouts and buybacks
Trade-only key
Held bySealed server key
CanPlace and cancel orders after the rules gateway. Cannot withdraw.

Orders are signed by a trade-only key, an API key the DAO’s Hyperliquid account approved; by Hyperliquid’s design it can place and cancel orders but cannot withdraw a cent. Every order, from the engine or the owner, passes the rules gateway, which checks it against the DAO’s rules before it is signed. Money leaves Hyperliquid only to pay holders or buy back the coin, and only to the DAO’s own Solana wallet.

Every key is sealed with a master key, the database is backed up encrypted every hour, and an offline copy of the master key exists. Your wallet signs the exact launch transaction we prepared, and we never hold your wallet’s keys.

Risks#

Read this before you buy a DAO coin or launch one.

DAOs lose money
Leverage cuts both ways. A thesis can be stopped out and a managed DAO can hit its drawdown freeze. A DAO can lose everything.
No returns are promised
The coin’s price can fall to near zero. Tokens can’t be redeemed for the DAO’s money.
Custody
You trust hyper.dao’s servers and keys, as described above. An outage pauses trading and payouts.
Bridges and chains
Funds move between Solana and Hyperliquid through Circle’s CCTP. Delays or failures there delay deposits and payouts.
Hyperliquid
Markets can gap, liquidate or halt. hyper.dao is not affiliated with Hyperliquid.
Your jurisdiction
DAO coins may be restricted where you live. Check your local rules before you buy or launch.