1. Set Up Your Wallet

If you don't already have a wallet, download Rabby Wallet from your browser. Rabby is the recommended wallet for Harmonix — it supports Hyperliquid natively and gives you a clear view of approvals and transaction risks.

You can set up a new wallet directly in Rabby or import an existing one using a seed phrase. Follow the Rabby setup guide if you need help with the initial configuration.

Rabby Wallet — connect to a trusted site

Why Rabby?

• Built-in support for Hyperliquid EVM and HyperCore
• Pre-transaction simulation — see what will happen before signing
• Clear approval management and risk warnings
• Available as a Chrome/Brave/Firefox extension

2. Connect to Harmonix

Once Rabby is installed and your wallet is set up, follow these steps to connect to the Harmonix app:

Click Connect to authorize Harmonix in Rabby

3. What's Next

Now that you're connected, here are the most common next steps:

Vault Mechanics 101

Harmonix vaults use the ERC-4626 standard to manage deposits, shares, NAV (net asset value), exchange rates, and withdrawals. Users deposit assets, receive yield-bearing shares, and redeem them later at a higher price-per-share as yield accrues.

ERC-4626 · share price · NAV · assets · liabilities · deposit · redeem

Delta-Neutral Strategies 101

Harmonix uses delta-neutral strategies to reduce directional exposure while capturing market-driven returns — mainly through spot-perp positioning, funding rate capture, and related basis opportunities.

long spot · short perp · delta-neutral · carry trade · basis trade · funding rates · market regimes

Funding Rates and Market Regimes

Harmonix focuses on market conditions where funding and trading activity are strong enough to support attractive returns, while also monitoring periods when funding compresses and strategy performance becomes less favorable.

funding rates · positive funding · negative funding · market regimes · volatility · trading activity · funding compression · perp demand · open interest

HyperCore vs HyperEVM vs HIP-3

Harmonix uses HyperCore as the trading layer where perp-driven yield opportunities are created, and HyperEVM as the application layer where DeFi integrations, vault logic, and yield-bearing product structures are built.

HyperCore · HyperEVM · trading layer · app layer · perp venue · DeFi integrations · vault infrastructure · execution layer

Underlying Asset Primitives

Harmonix structures products around assets such as HYPE, kHYPE, stHYPE, BTC, ETH, and stablecoins, using each asset based on its role in staking, trading, collateral, or yield optimization strategies.

HYPE · kHYPE · stHYPE · BTC · ETH · stablecoins · LST · collateral · yield-bearing assets · asset primitives

Yield-Bearing Stablecoins

Harmonix turns stablecoins like USDC, USDH, and USDT into yield-bearing products by routing them into market-neutral and DeFi-native strategies, allowing users to keep stablecoin exposure while earning through vault share growth over time.

yield-bearing stablecoins · stablecoin vaults · ERC-4626 · delta-neutral · dollar-denominated yield · exchange rate · vault share growth

ERC-4626 Vault Standard

Vault products are built around the ERC-4626 standard so deposits, shares, asset accounting, and yield accrual follow a structured and composable framework across DeFi integrations.

ERC-4626 · tokenized vault standard · vault shares · assets under management · deposit · redeem · share accounting · composability · yield-bearing vaults

What is Harmonix?

Harmonix is a yield infrastructure protocol built natively on Hyperliquid. It captures real economic activity — perpetual funding rates, lending yields, and ecosystem incentives across HyperCore and HyperEVM — and distributes that yield through a suite of yield-bearing tokens: haUSDC, haUSDH, haUSDT, haHYPE, and hakHYPE.

The design goal is straightforward: reuse the same unit of capital across multiple yield sources, price risk from real executable activity rather than static assumptions, and route protocol cashflows back to users in a transparent, programmatic way.

The Problems We Solve

Capital Isolation

In most DeFi systems, capital is siloed by product. A stablecoin deposit earns from one protocol. A staking position earns from another. Harmonix enables a single deposit to back funding strategies, lending, and ecosystem yield simultaneously — all while continuing to accrue base returns.

Static Yield Strategies

Most yield products rely on fixed allocations or single-protocol exposure. Harmonix uses dynamic strategies that adapt to funding rates, volatility, and ecosystem conditions in real time. When rates compress, capital rotates automatically — no manual action required.

Directional Risk

Traditional yield products embed hidden market exposure. Harmonix centers on market-neutral structures that remove price beta from stablecoin products, letting users earn yield without depending on asset appreciation.

Disconnection from Execution

Harmonix is built directly on Hyperliquid's execution environment, so funding markets, lending, and trading activity feed user yield without bridges, external oracles, or lag. Everything runs on the same stack — from consensus to application.

Built on Hyperliquid

Harmonix is built on Hyperliquid's L1, using HyperBFT for consensus, HyperEVM for execution, and connected to HyperCore for native protocol access. Users who deposit earn native yield (Perps funding rates, Lending, Borrowing, Staking, etc.) as well as tokens from the HyperEVM ecosystem as a reward for early contributions to the protocol.

1. HyperBFT: Is the consensus layer where transactions are validated, keeping HyperCore and HyperEVM fast and synchronised.
2. HyperCore: Is the execution layer where the Hyperliquid protocol is built, so Perps, Staking, spot and HLP are here.
3. HyperEVM: Is the execution layer where Harmonix is built, also housing additional protocols like Felix, Hyperswap, Kinetiq and more.

How Yield is Generated

At the core of Harmonix is a basis-trade engine that pairs spot holdings with perpetual futures on HyperCore to neutralize price direction and earn funding payments. Funding income is layered with ecosystem yield from lending, staking, and looping across HyperEVM protocols — Felix, Hyperswap, Kinetiq, and others — allowing one position to generate yield from multiple independent sources simultaneously.

By centering yield on real funding markets and market-neutral execution, Harmonix aligns user returns with actual on-chain economics. The same capital supports multiple strategies, yield adapts to conditions automatically, and protocol growth flows directly to users.

Protocol Versions

Harmonix has evolved across two major protocol versions:

V1 proved the core basis trade thesis on Hyperliquid. V2 generalizes that engine across multiple underlying assets and yield sources, giving users a broader suite of yield-bearing tokens that work as composable building blocks across DeFi.

Infrastructure Layer

Harmonix's yield strategies depend on multiple layers of the Hyperliquid ecosystem. Understanding how these components connect explains where yield originates and how it flows through to vault depositors.

Hyperliquid Overview

Hyperliquid is the core environment behind the platform, combining a high-performance perp trading venue with an expanding onchain ecosystem that supports strategy execution, product distribution, and capital formation.

HyperEVM

HyperEVM is the smart contract execution layer where vault logic, DeFi integrations, and yield-bearing product structures are built, making it the main base for product expansion beyond trading alone.

Hyperliquid DEX

The Hyperliquid DEX is the main perp venue used to source funding, basis, and other market-driven opportunities that power delta-neutral and trading-based strategies.

HIP-3 DEXs

HIP-3 markets extend the perp surface area by bringing in new assets and narratives, creating more room for funding-driven strategies, vault design, and future product growth.

DeFi Layer on HyperEVM

The DeFi layer adds lending, LP, looping, and fixed-yield integrations on top of the trading layer, helping capital move beyond pure perp strategies into broader yield opportunities.

Hyperliquid · HyperCore · HyperEVM · perpetual DEX · HIP-3 · DeFi · lending · LP · looping · Pendle · money markets

Quick Links

Products

Yield-Bearing Stablecoins

haUSDC, haUSDH, and haUSDT are ERC-4626 receipt tokens that generate sustainable onchain yield by deploying capital across market-neutral strategies on HyperCore and ecosystem protocols on HyperEVM.

The design is straightforward: deposit the underlying asset, receive ha-tokens that automatically accrue yield over time via the ERC-4626 exchange rate. No manual rebalancing, no claiming — your share simply becomes worth more of the underlying asset as yield compounds in.

What ha-stablecoins are and how they fit

Turn idle stablecoins into productive capital. Rather than holding USDC, USDT, or USDH at zero yield, users mint the ha-equivalent and immediately begin earning from HyperCore funding markets and HyperEVM lending and liquidity protocols.

Dollar-denominated, yield-accruing. Capital is deployed exclusively into market-neutral strategies — delta-neutral positions that minimize directional exposure. The vault targets stability of the underlying denomination; the share price grows over time as yield accrues into the exchange rate.

Accrue ecosystem incentives. Beyond base yield, ha-stablecoin positions accrue Harmonix Points and partner protocol points automatically, compounding total returns across the Hyperliquid ecosystem.

Vault Allocation

Capital is split across three strategies that shift dynamically based on market conditions:

Delta Neutral — the primary source, deploying capital long spot / short perp on HyperCore to earn funding rates with no directional exposure.

Supply Spot — lending and liquidity provision across HyperEVM protocols (Felix, Hyperswap, HyperLend) for additional variable yield.

Idle buffer — a small reserve maintained at all times to support smooth redemptions without unwinding active positions.

Where Yield Comes From

Funding income (Delta Neutral). Capital is paired long spot / short perpetuals on HyperCore to earn funding payments while minimizing price exposure. This is the primary, most consistent yield source.

Spot supply yield. A portion of capital is deployed into HyperEVM lending and liquidity protocols — Felix, Hyperswap, Kinetiq, and others — earning additional lending and LP yield on top of funding income.

Idle reserves. A buffer of undeployed capital is maintained at all times to support smooth redemptions without disrupting active strategy positions.

Fees

V2 vaults charge a 1% annualized management fee only. No performance fee. Fee is accrued pro-rata into the share price.

Withdrawals

All ha-stablecoin vaults use an asynchronous withdrawal queue via the Teller contract. A 5% idle buffer is maintained at all times to support near-instant small withdrawals.

Risks

Funding rate risk. The delta-neutral strategy depends on positive perpetual funding rates. If rates turn negative, the short leg generates a cost rather than income. The vault monitors rates in real time and adjusts position sizing accordingly.

Smart contract risk. Capital interacts with BoringVault, Teller, and Accountant contracts. All contracts have been audited by Verichains, Shieldify, and Zenith, but smart contract risk can never be fully eliminated.

Venue risk. Capital is deployed across HyperCore and multiple HyperEVM protocols. Each venue carries its own smart contract and liquidity risk. Diversification reduces but does not eliminate this exposure.

Why Hold haHYPE or hakHYPE

Earn yield on HYPE without selling it. Capital is deployed across delta-neutral strategies, lending markets, and Pendle principal token positions, generating yield from multiple independent sources while you hold.

Automatic compounding. Yield accrues directly into the share price via the ERC-4626 exchange rate. No action required on your part.

Points on top. Every position automatically accrues Harmonix Points and partner protocol points without any additional steps.

Ecosystem-native. Built directly on HyperEVM with capital deployed exclusively across Hyperliquid-native protocols — no bridges, no external dependencies.

How It Works

When you deposit HYPE, Harmonix uses it as collateral to mint feUSD via Felix Protocol. The feUSD is swapped to USDC, which becomes the basis for the hedge. From there the capital splits: 50% is used to short HYPE on HyperCore, earning funding rates from positive carry; the other 50% buys back HYPE and restakes it across HyperEVM protocols — DEXs, money markets, Pendle, and Kinetiq — generating ecosystem yield and points.

The two legs offset each other's directional exposure. Both sides generate yield simultaneously, with net delta close to zero.

For hakHYPE, the mechanic is simpler: kHYPE is already yield-bearing as Kinetiq's liquid staked HYPE. Harmonix layers additional yield on top by deploying into Kinetiq Earn, Pendle principal token markets, and cross-protocol lending strategies.

Where Yield Comes From

For haHYPE, the primary source is funding rate income from shorting HYPE perps on HyperCore when rates are positive. Secondary sources include lending yield from HyperLend, HypurrFi, and Felix, fixed yield from Pendle PT positions, and liquid staking yield via Kinetiq.

For hakHYPE, the base layer is Kinetiq's native staking yield on kHYPE. Pendle PT positions add fixed yield on top, and the HyperLend and Etherfi lending strategies generate additional variable income.

Net yield is realized after borrow costs, fees, and the idle buffer. It compounds directly into the share price and is reflected in real time in the app.

Fees

V2 vaults charge a 1% annualized management fee only. No performance fee. Staying in the vault for at least 7 days ensures yield earned offsets the applicable fee.

Withdrawals

Withdrawals are currently settled in WHYPE. A 5% buffer pool is maintained at all times to support near-instant withdrawals. Requests within the buffer are typically processed within one day. Large withdrawals exceeding 5% of vault TVL may take up to three days to process. Native HYPE withdrawal support is planned for a future update.

Risks

Directional risk. haHYPE and hakHYPE carry directional exposure to HYPE. While the delta-neutral allocation reduces net market beta, these are not fully market-neutral products — holders participate in HYPE price movements on the non-hedged portion.

Funding rate risk. If HYPE perpetual funding rates turn negative, the short leg generates a cost rather than income. The strategy monitors rates in real time and adjusts position sizing or exits the leg if conditions deteriorate.

Pendle PT maturity. Fixed-yield positions on Pendle have defined maturity dates. Positions are sized conservatively and rolled ahead of maturity.

Venue risk. Capital is deployed across multiple HyperEVM protocols. Each carries its own smart contract and liquidity risk. Diversification reduces but does not eliminate this exposure.

FAQs

Does yield pay out automatically?

Yes. Yield accrues continuously into the share price via the ERC-4626 exchange rate. No claiming step or staking action required — holding haHYPE or hakHYPE is sufficient.

Why are withdrawals in WHYPE and not HYPE?

WHYPE is the HyperEVM-native wrapped form of HYPE. Native HYPE withdrawal support is planned for a future update.

Is there a minimum holding period?

No hard lockup. However, staying in the vault for at least 7 days ensures yield earned offsets the applicable management fee.

The HAR Token

HAR is the native token of the Harmonix Protocol, serving as the core mechanism for governance, economic growth, and user ownership. It is designed to drive governance decisions, treasury direction, and utility-driven participation across the ecosystem.

HAR holders can propose and vote on protocol parameters, treasury allocations, emissions schedules, and Harmonix's HYPE treasury. The total supply is fixed at 1,000,000,000 HAR.

Supply & Allocation

HAR's supply is distributed across Community, Investors, Core Contributors, and the Foundation, with a structured vesting and unlock schedule to ensure long-term alignment and sustainable protocol growth. This design aligns contributors, early supporters, and participants with the protocol's trajectory, reinforcing both governance engagement and economic coordination.

HAR token supply allocation across all categories

Community — 50%

Allocated to participants who have engaged with Harmonix products, contributed to the ecosystem, or will take part in future protocol initiatives.

Airdrop (TGE) — 25%

Distributed at TGE to early participants across multiple Harmonix programs: 5% staking rewards across the Harmonix Staking Vaults and the Downside Protection Vault; 19% Harmonix point holders and partner communities; 1% Hypurr NFT holders. 6.43% remains unclaimed from users who did not sign Terms of Use — reserved for the Downside Protection Vault and future protection rewards.

Future Airdrop — 25%

Reserved for long-term participants, ecosystem contributors, and incentives tied to upcoming Harmonix products. Subject to governance approval, this pool may also fund contributor compensation post-TGE.

Core Contributors — 18%

Allocated to contributors across development, research, operations, and security. Core Team tokens are subject to a 12-month lockup, followed by linear vesting over 36 months, ensuring long-term alignment and sustained participation in the protocol's evolution.

Private & Public Sale — 18%

Allocated to early investors and the public, following a structured unlock schedule. The private sale (15%) is divided into Pre-Seed with 2% unlocking at TGE, and Seed with 5% at TGE. The public sale (3%) is fully unlocked at TGE, directed to the Sonar and Solanium token raises.

Foundation — 10%

Reserved to support ecosystem operations, including liquidity provisioning, exchange listings, LP incentives, strategic partnerships, marketing, and ongoing protocol development. Tokens are deployed progressively based on operational needs and governance.

Liquidity — 4%

Allocated to market-making, initial exchange liquidity, and ensuring stable trading environments for HAR. 2.5% unlocked at TGE, with the remainder locked to support long-term market stability.

Vesting & Unlocks

The HAR token follows a structured, multi-year unlock schedule designed to ensure long-term alignment, sustainable growth, and a healthy market environment. Unlocks are distributed quarterly over 48 months, beginning at TGE, with different categories tailored to the role they play in the ecosystem. Vesting schedules are designed to prevent short-term liquidity shocks and provide predictable token availability over time.

HAR token unlock schedule — Team, Investors, Liquidity, Foundation, Airdrop (2026–2031)

Utility & Governance

Governance & Treasury Direction

Holding HAR grants a voice in shaping Harmonix and the upcoming HYPE treasury — guiding incentives, risk, and long-term strategy. Governance becomes a way to steer how protocol capital evolves.

Downside-Protected Staking

Stake HAR to access the Protection Vault, giving holders yield with built-in downside buffers and priority rewards. It creates a safer, asymmetric way to stay long the ecosystem.

Liquidity Provision

Provide liquidity in pools like HAR/HYPE to earn fees and incentives while strengthening market depth. LPs help anchor the token's stability and capture the upside of ecosystem activity.

FAQs

How do I get HAR?

Through the public sale or via community airdrop allocations. HAR will also be tradeable on open markets post-TGE.

How does governance work?

HAR holders propose and vote on protocol parameters, treasury allocations, and emissions schedules. Details on governance mechanics will be published separately.

Core Modules

The BoringVault framework uses a modular architecture with minimal core contract logic (~100 lines of code). Each module has a single responsibility and no single component holds both custody and execution authority.

BoringVault

The central custodial contract that holds all deposited funds. It is deliberately minimal — an ERC-20 token with delegatecall capability. The vault delegates all complex operations (deposits, withdrawals, rebalancing, accounting) to external modules. This separation means the vault itself has an extremely small attack surface.

Teller

The entry point for all user-facing interactions. Handles deposit mechanics by minting shares using exchange rates from the Accountant. Manages the asynchronous withdrawal queue — accepts redemption requests, locks shares in escrow, and releases assets once fulfilled. Enforces a share lock period after deposit to mitigate MEV sandwich attacks on the exchange rate.

Accountant

Publishes and updates the vault's exchange rate (price-per-share). Includes on-chain safety mechanisms: update frequency limits and rate movement constraints between updates prevent manipulation. The Accountant is the source of truth for how much each share is worth when depositing or withdrawing.

Manager

Stores all authorized vault operations in a Merkle tree structure and validates every rebalance action against this whitelist. Only pre-approved protocol interactions (specific contract addresses + function selectors) can execute through the vault. This prevents unauthorized fund movements even if other components are compromised.

DecoderAndSanitizer

A validation layer that decodes and examines calldata for every external call the vault makes. Ensures that parameters match expected formats and targets before execution — an additional safety check on top of the Merkle whitelist.

RolesAuthority

The on-chain role-based access control (RBAC) contract. Gates which addresses can call which functions across the entire vault system. Roles include: Depositor (anyone), Solver (fulfills withdrawal requests), Curator (triggers strategy deployment), and Admin (multisig-controlled parameter changes).

Lens

A read-only aggregation contract for integrators. Provides convenience functions like getVaultData() (TVL, PPS, total shares) and getUserData(address) (balance, pending withdrawals, claimable assets) in a single call.

Flow of Funds — Deposit

USDC.approve(TELLER_ADDRESS, amount)

teller.deposit(USDC, amount, minShares, receiver) → shares

Flow of Funds — Withdrawal

teller.requestRedeem(shares, receiver, owner) → requestId

teller.getRedeemRequest(requestId) → { status, assets }
// status: 0 = Pending  1 = Fulfilled  2 = Claimed

teller.claimRedeem(requestId) → assets

The Hyperliquid Stack

V1 → V2 Upgrades

Standards Roadmap

Harmonix vaults currently implement ERC-4626 for tokenized vault shares. The following standards are being added to HIP-3 vaults as part of the next architecture iteration:

Upcoming Integrations

Strategy Execution Flow

When users deposit into a Harmonix vault, their capital follows a structured path from deposit to active strategy deployment. The Teller accepts deposits and mints shares, the BoringVault holds custodial funds, and the Manager authorizes specific strategy allocations via Merkle-verified operations. Offchain keepers trigger rebalances that deploy capital into funding positions on HyperCore, lending on HyperEVM protocols, and other yield sources — all validated on-chain before execution.

deposit flow · allocation · rebalance · execution · keeper

Withdraw and Settlement Operations

Withdrawal operations span both on-chain and offchain processes. When a user requests redemption, shares are locked in escrow by the Teller. The offchain Solver batches pending requests, unwinds the necessary positions on HyperCore and HyperEVM, and calls fulfillRedeems() to make assets claimable. The idle buffer absorbs most routine withdrawals without unwinding, but large redemptions require position settlement — which is why fulfillment takes 24–72 hours.

withdraw ops · pending withdrawal · backend · signer · tx batching

Monitoring and Dashboards

The team monitors vault health through real-time dashboards that track TVL, APY, price-per-share movements, position utilization, and exposure across HyperCore and HyperEVM. Alerts fire on NAV deviations, unusual redemption volume, funding rate compression, and contract interaction anomalies. The Lens contract provides on-chain read access to the same data used internally.

TVL dashboard · monitoring · alerts · NAV · utilization · exposure

Security and Controls

All vault admin operations require a Safe multisig (3-of-5). Sensitive parameter changes go through a timelock. The RolesAuthority contract enforces on-chain RBAC for every function across the vault system — no contract can be called by an unauthorized address. The Manager's Merkle tree restricts which external protocols the vault can interact with, and the DecoderAndSanitizer validates every calldata payload before execution.

safe wallet · multisig · timelock · admin control · contract upgrade

Known Constraints

Harmonix is transparent about current operational constraints and active areas of improvement. These include infrastructure dependencies on Hyperliquid's RPC availability, manual components in the NAV oracle pipeline that are being automated, withdrawal fulfillment times that depend on position unwinding complexity, and HyperEVM-specific limitations around native HYPE transfers (requiring WHYPE as a withdrawal token for haHYPE). The team tracks these as active roadmap items.

limitations · infra risk · human error · RPC risk · roadmap blockers

Integration Guide

Depositing (ERC-4626)

All Harmonix vaults implement the standard ERC-4626 interface. To deposit:

Withdrawing

In V2, withdrawals go through an on-chain queue:

Reading NAV / Price Per Share

Call pricePerShare() or convertToAssets(1e18) on any vault contract to get the current NAV-based exchange rate. This is updated by the automated NAV Oracle pipeline.

Deployed Contracts

Yield-Bearing Stablecoins

haUSDC, haUSDT, and haUSDH are deployed on HyperEVM as ERC-20 tokens using a TransparentUpgradeableProxy / ERC1967Proxy pattern, consistent with the Veda framework used for yield-bearing vault tokens.

Full Contract Registry

Every Harmonix product is an ERC-4626 vault deployed on HyperEVM. Vault contracts are upgradeable via a Safe multisig with a timelock. Shares are standard ERC-20 tokens (the ha-tokens) that can be transferred, wrapped, or used as collateral in any protocol that supports ERC-4626.

Harmonix operates three vault types, each with different deposit and withdrawal mechanics.

V1 — Basis Trade Vault

The Basis Trade Vault uses a custom HypeVault contract with a two-step withdrawal mechanism designed for the delta-neutral strategy.

Deposit

Withdraw (Two-Step)

V2 — Yield-Bearing Tokens

haHYPE and hakHYPE use the BoringVault framework (ERC-4626). Deposits go through the Teller contract; withdrawals use an async queue.

Deposit

Withdraw (Async Queue)

V2 — Yield-Bearing Stablecoins

haUSDC, haUSDT, and haUSDH follow the same BoringVault / ERC-4626 architecture as the yield-bearing tokens. The Teller handles deposits; withdrawals go through the same async queue.

Deposit

Withdraw (Async Queue)

Same three-step flow as yield-bearing tokens: requestWithdraw → wait → claimWithdraw. You receive the original stablecoin (USDC, USDT, or USDH).

Withdrawal Timing

What You Receive

Coming Upgrade: ERC-7540

ERC-7540 standardizes asynchronous deposit and withdrawal flows at the contract level. This unlocks native cross-chain integrations — users will be able to deposit into haUSDC from any chain, using any asset, via supported aggregator platforms and mobile apps. No manual bridging. No extra steps.

The upgrade supports Harmonix's existing asynchronous withdrawal architecture (where users initiate a withdrawal request before claiming) while keeping instant deposits — the standard design for vault strategies that take time to unwind positions.

Cross-chain aggregator integrations have confirmed compatibility out of the box once the upgrade is live.

Get Started

Harmonix offers two integration paths depending on your needs:

Integration Components

Both integration paths require three main components:

ERC-4626 Vaults Integration (V2)

All V2 vaults (haUSDC, haUSDT, haUSDH, haHYPE, hakHYPE) use the BoringVault framework. Deposits go through the Teller contract; withdrawals use an async queue.

Quick Start

// 1. Approve the Teller to spend your tokens
await token.approve(TELLER_ADDRESS, amount);

// 2. Deposit via Teller — shares minted instantly
const shares = await teller.deposit(asset, amount, minShares, receiver);

// 3. Request withdrawal — shares locked, requestId returned
const requestId = await teller.requestWithdraw(shares);

// 4. Claim once fulfilled (24–72h)
const assets = await teller.claimWithdraw(requestId);

Contract Addresses

Basis Trade Vault Integration

Multi-asset vault on Arbitrum with automatic token swapping via KyberSwap.

Quick Start

// 1. For USDC deposits (no swap needed)
await vault.deposit(amount, USDC_ADDRESS, '0x');

// 2. For USDT/DAI deposits (with KyberSwap)
const swapData = await fetchKyberSwapCalldata(token, USDC_ADDRESS, amount);
await vault.deposit(amount, tokenAddress, swapData);

// 3. Initiate withdrawal
await vault.initiateWithdrawal(shares);

// 4. Complete withdrawal when ready
const canWithdraw = await vault.canCompleteWithdraw(userAddress);
if (canWithdraw) {
  await vault.completeWithdrawal(shares);
}

Get a User Position

Read a user's vault position and pending withdrawals on-chain using the Lens contract or direct calls:

// User's share balance
const shares = await vault.balanceOf(userAddress);

// Current price per share (exchange rate)
const pps = await accountant.getRateInQuoteSafe(vault.address);

// User's position value in underlying asset
const value = shares * pps / 1e18;

// Check pending withdrawal requests
const request = await teller.getRedeemRequest(requestId);
// request.status: 0 = Pending, 1 = Fulfilled, 2 = Claimed
// request.assets: amount claimable when fulfilled

For bulk position queries across multiple users, use the Harmonix REST API instead of individual on-chain calls.

Compute Share Valuation

The vault share price (price-per-share, PPS) is the ratio of total vault assets to total shares outstanding. The Accountant contract maintains this rate:

// Get the current exchange rate (assets per share, scaled to 1e18)
const rate = await accountant.getRateInQuoteSafe(vault.address);

// Convert shares to underlying asset value
const assetsOut = (shares * rate) / 1e18;

// Convert underlying asset amount to shares
const sharesOut = (assets * 1e18) / rate;

// Total vault value
const totalAssets = await vault.totalAssets();
const totalShares = await vault.totalSupply();

The Accountant updates the exchange rate periodically with safety bounds — the rate can only move within a constrained range per update to prevent manipulation. Rate updates include accrued yield and deducted management fees.

APR Computation

Vault APR is derived from the change in price-per-share over time. There are two methods depending on your use case:

Method 1: On-chain (two snapshots)

// Record PPS at two points in time
const pps_t0 = await accountant.getRateInQuoteSafe(vault.address); // at time t0
const pps_t1 = await accountant.getRateInQuoteSafe(vault.address); // at time t1

// Calculate annualized return
const elapsed_days = (t1 - t0) / 86400;
const period_return = (pps_t1 - pps_t0) / pps_t0;
const apr = period_return * (365 / elapsed_days);
const apy = Math.pow(1 + period_return, 365 / elapsed_days) - 1;

Method 2: REST API (recommended)

// Fetch pre-computed APY from the Harmonix API
const res = await fetch('https://api.harmonix.fi/api/v1/vaults/haUSDC');
const vault = await res.json();
const apy = vault.apy;         // 7-day rolling APY
const tvl = vault.tvl;         // total value locked

The API returns a 7-day rolling APY that smooths short-term volatility in funding rates. For historical APY data, use the /api/v1/vaults/{slug}/performance endpoint.

Frontend Integration

If you are building a frontend that displays Harmonix vault data, here is the recommended approach:

Next Steps

Explore the detailed reference guides:

Base URL

https://api.harmonix.fi

Vaults

curl -X GET 'https://api.harmonix.fi/api/v1/vaults/hyperevm-khype-v1' \
  -H 'accept: application/json'

{
  "id": "b6982c21-76ff-4545-b49c-053b722eecd1",
  "name": "HyperEVM $KHYPE Vault",
  "contract_address": "0x1368Ee9d1212AE5B26Ff166049220051a9EEbc42",
  "slug": "hyperevm-khype-v1",
  "vault_currency": "KHYPE",
  "underlying_asset": "KHYPE",
  "network_chain": "hyperevm",
  "category": "real_yield",
  "strategy_name": "delta_neutral_strategy",
  "apy": 8.048023433150565,
  "apy_7d": 8.048023433150565,
  "apy_15d": 8.048023433150565,
  "apy_30d": 8.048023433150565,
  "apy_45d": 8.048023433150565,
  "base_weekly_apy": 5.828023433150564,
  "base_monthly_apy": 5.828023433150564,
  "reward_weekly_apy": 0.0,
  "reward_monthly_apy": 0.0,
  "tvl": 23986.572980675308,
  "tvl_usd": 1284404.7533064985,
  "price_per_share": 0.0,
  "max_drawdown": 0.0,
  "update_frequency": "daily",
  "tags": ["harmonix", "new", "popular"],
  "points": [
    { "name": "HYPERLEND", "point": 0.0 },
    { "name": "hypurrfi", "point": 0.0 },
    { "name": "kPoints", "point": 0.0 },
    { "name": "Harmonix", "point": 15191.64 }
  ],
  "supported_networks": [
    { "chain": "hyperevm", "vault_slug": "hyperevm-khype-v1" }
  ]
}

Recommended Libraries

Harmonix vaults are standard EVM smart contracts on HyperEVM. Interact with them using the same libraries used across Ethereum, Arbitrum, and every other EVM chain:

Quick Start — Read Vault Data with Viem

// npm install viem
import { createPublicClient, http, formatUnits } from 'viem'
import { hyperevm } from 'viem/chains'

const client = createPublicClient({
  chain: hyperevm,
  transport: http()
})

// Read price-per-share from a Harmonix vault
const pps = await client.readContract({
  address: 'VAULT_ADDRESS',
  abi: [{ name: 'totalAssets', type: 'function',
          inputs: [], outputs: [{ type: 'uint256' }],
          stateMutability: 'view' }],
  functionName: 'totalAssets'
})

console.log('Total assets:', formatUnits(pps, 6))

See the Smart Contract Integration guide for full deposit/withdraw flows with working code.

Quick Start — Read Vault Data with Ethers.js

// npm install ethers
import { JsonRpcProvider, Contract, formatUnits } from 'ethers'

const provider = new JsonRpcProvider('https://rpc.hyperliquid.xyz/evm')

const vault = new Contract('VAULT_ADDRESS', [
  'function totalAssets() view returns (uint256)',
  'function totalSupply() view returns (uint256)'
], provider)

const [assets, supply] = await Promise.all([
  vault.totalAssets(),
  vault.totalSupply()
])

console.log('PPS:', formatUnits(assets, 6) / formatUnits(supply, 6))

RPC & Data Providers

For production apps that need reliable RPC endpoints, indexing, or enhanced APIs beyond raw node calls:

What You Need

Harmonix SDK

Harmonix publishes a Merkle tree of all vault positions and corresponding liabilities. Anyone can verify that total assets exceed total share token supply at any given time — no trust required, no waiting for an audit cycle.

Audits

Risk Disclosures

V2 Vaults (haUSDC, haUSDT, haUSDH, haHYPE, hakHYPE)

V1 Basis Trade Vault

BuilderCode

Harmonix implements BuilderCode, a fee-sharing mechanism that collects a small fee based on trading volume on HyperCore from whitelisted vaults. Fees are calibrated to trading volume, ensuring that APY and user yields are not affected.

BuilderCode is already active on Hype–USDC, KelpDAO, and Hype Vaults, and all new vaults are automatically enrolled in the program.

Points accrue automatically into your position — no claiming or staking step required. Holding ha-tokens is sufficient. All programs run in parallel, meaning a single deposit simultaneously accrues Harmonix Points and multiple partner protocol point rewards.

Season 2 Ended at TGE

Season 2 launched on March 4 at 12 PM UTC following the conclusion of Season 1. It introduced a refined points formula, tiered rankings, and new rewards for consistent participation.

How Points Are Earned

Points are earned through vault deposits, staking, and other on-chain activities. They accrue automatically — no manual claiming. A minimum $10 vault deposit is required to earn and retain tier status. Staking only counts toward tier progression if you have an active vault deposit.

Ranking Tiers

Points determine your weekly tier. Tiers refresh every week based on your relative position among all participants.

Connect your wallet in the Harmonix app to view your points, tier, and progress.

Products

Is haUSDC delta-neutral?

Yes. haUSDC is fully market-neutral — capital is deployed into delta-neutral strategies that eliminate directional price exposure. Yield compounds continuously into the share price.

Are haHYPE and hakHYPE delta-neutral?

No. haHYPE and hakHYPE are not fully delta-neutral products. A sub-strategy within each vault runs a delta-neutral position to reduce net beta, but the overall product carries directional HYPE exposure. If HYPE price changes, your position value changes accordingly on the non-hedged portion.

Does yield pay out automatically?

Yes. Yield accrues into the share price continuously. There is no claim step — holding the ha-token is sufficient. When you redeem, you receive more of the underlying than you deposited.

Why are haHYPE withdrawals in WHYPE and not HYPE?

WHYPE is the HyperEVM-native wrapped form of HYPE. Native HYPE withdrawal support is on the roadmap for a future update.

Architecture

What is HIP-3?

HIP-3 is Hyperliquid's native standard for yield-bearing spot tokens. Harmonix uses three HIP-3 markets — Felix (feUSD), Ondo (USDY), and Hyna (sUSDe) — as strategy inputs. These tokens trade natively on HyperCore spot markets, enabling Harmonix to earn their underlying yield without bridges.

What oracle does Harmonix use?

haHYPE and hakHYPE use Pyth Network for NAV pricing and collateral valuation. haUSDC is evaluating Pyth or Chainlink for V2 — decision TBD at launch.

Is Harmonix audited?

Yes. Contracts have been independently audited by Verichains, Shieldify, and Zenith, with real-time on-chain monitoring by Hypernative. You can read each report directly: Verichains ↗, Zenith ↗, Shieldify ↗.

What the Basis Trade Vault Is

Delta-neutral yield on USDC. The vault deploys USDC into a basis trade — buying HYPE on the spot market while simultaneously opening an equal-sized 1× short on HYPE perpetuals. The two legs cancel each other's price exposure, leaving a position that earns funding rate income regardless of whether HYPE goes up or down.

Fully automated. Position sizing, rebalancing, and funding collection are handled by the vault's strategy engine. No manual management required — deposit USDC and let the vault work.

Ecosystem incentives. On top of base yield, depositors earn Harmonix Points automatically.

How It Works

When you deposit USDC, the smart contract splits your capital 50/50:

Vault Details

Vault Allocation

Where Yield Comes From

Funding rate income. When the HYPE perpetual funding rate is positive (longs pay shorts), the vault's short perp position earns funding payments. This is the primary and most consistent yield source.

Basis spread. The price difference between HYPE spot and HYPE perpetuals creates a spread the vault captures over time through periodic rebalancing.

No directional risk. The spot long and perp short offset each other — the vault is market-neutral. Yield comes from structural market inefficiencies, not from betting on HYPE's price direction.

Fees

Withdrawals

Withdrawals are processed through an on-chain queue. Once you initiate a withdrawal, the vault begins unwinding your share of the spot and perp positions. Depending on market conditions, this process may take several minutes to hours.

Risks

Negative funding rates. If HYPE perpetual funding rates turn negative (shorts pay longs), the strategy incurs a cost rather than income. The vault monitors rates in real time and adjusts position sizing or pauses the strategy if conditions deteriorate.

Execution risk. Rebalancing the spot and perp legs involves timing. Rapid price movements during rebalancing may temporarily create small directional exposure, though positions are sized to minimize this window.

Venue risk. Capital is deployed on HyperCore for both spot and perpetual trades. Exchange downtime, liquidity gaps, or smart contract issues on HyperCore could impact the vault's ability to manage positions.

Track Performance

Monitor live vault performance, APY history, and TVL on the Harmonix Vault Dashboard ↗.

Smart Contract Reference

The HypeVault contract handles deposits, withdrawals, and share accounting. It uses a two-step withdrawal mechanism with price-per-share accounting.

Write Functions

function deposit(uint256 amount, address tokenIn, bytes swapCallData) external

function initiateWithdrawal(uint256 shares) external

function completeWithdrawal(uint256 shares) external

View Functions

function balanceOf(address owner) external view returns (uint256)

function getUserWithdrawlShares(address owner) external view returns (uint256)

function pricePerShare() external view returns (uint256)

function totalValueLocked() external view returns (uint256)

function canCompleteWithdraw(address user) external view returns (bool)

Introduction

These Terms of Use ("Terms") set forth the legally binding agreement between Techwise Solution Ltd, a business company incorporated in the British Virgin Islands ("Services Provider", "we", "us", or "our") and the users ("user", "you", and "your") who access and use our website and application programming interfaces (APIs) ("Applications") — available at harmonix.fi and app.harmonix.fi (collectively, the "Software"), and any live support, software, tools, features, or functionalities provided on or in connection with our Services.

"Digital Assets" means multi-source and multi-chain digital blockchain-based assets, such as cryptocurrencies, tokens, and other crypto or blockchain-based assets. This includes the Yield Bearing Tokens ("YBT") unless stated otherwise.

1. User Eligibility

By using the Services, you represent and warrant that:

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You are not included in any trade embargoes, economic sanctions, terrorist or corrupt foreign officials lists (OFAC, UN Security Council, UK, EU, Canada).

2. Our Services

No Wallet Service

You must use a third-party wallet to engage in transactions. We are not a wallet provider, exchange, broker, dealer, financial institution, payments processor, money services business, fiduciary, or creditor. We do not have custody or control over your wallet contents.

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Our Software serves as a graphical user interface facilitating interaction with decentralized protocols and smart contracts ("Protocols"). We do not own, control, or operate the Protocols, nor can we modify or interfere with their functionality. All transactions occur in a decentralized fashion through the Protocols. We may create or launch Protocols, but once launched, they will not be operated or controlled by us.

In some cases, your Digital Assets may be temporarily held in wallets of the Service Provider, secured by Multi-Party Computation provided by a third party, for the sole purpose of facilitating transactions. You can request to withdraw your Digital Assets at any time.

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Product Updates

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In consideration for access to the Software and Services, fees may be taken based on your interaction. Fee amounts and descriptions are communicated via the Software and are subject to revision with or without prior notification.

You are responsible for determining and remitting applicable taxes. We do not undertake responsibility to store or archive transaction information. Blockchain transaction fees (gas) are separate and not our responsibility.

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The Software may provide access to third-party websites, platforms, dApps, APIs, smart contracts, networks, or ledgers ("Third-party Applications"). We make no representations about any Third-party Applications and have no responsibility for their accuracy, acts or omissions, losses, or transactions conducted through them.

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You agree not to: use another user's Account without authorization; pose as another person; access Services from a blocked blockchain address; distribute spam; use the Services in any manner that could damage or disable functionality; bypass access controls; reverse engineer the Services; engage in price manipulation or fraud; use the Services for money laundering, terrorist financing, or other illicit activity; or use the Services on behalf of a Restricted Person.

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