About Felix-deployed Perps

What are Felix-deployed Perps?

Felix-deployed perps are perpetual future markets deployed and managed by the Felix team via HIP-3. The goal of this product is to enable users to access leverage for popular equities via perpetual futures as the derivative instrument of choice. Unlike dated futures, users do not have to worry about rollover ux and liquidity fragmentation across each dated market (Dec, Mar, etc.). Unlike options, users do not have to worry about other parameters like strikes, expiries, implied volatility/skew, or time-decay - instead they gain simple linear exposure to the underlying with configurable leverage.

All settlement takes place transparently on-chain on the Hyperliquid L1 blockchain. More details about Hyperliquid L1 architecture can be viewed on the Hyperliquid docs.

The first market, TSLA-USDH perp can be accessed here: app.hyperliquid.xyz/trade/flx:TSLA.

Built on Hyperliquid L1

Hyperliquid L1 is a high performance layer one blockchain optimized for orderbook trading use cases. Hyperliquid L1 consists of a built-in orderbook, such that teams can permissionlessly deploy spot orderbook-based markets and perpetual futures orderbook-based markets for any asset. Given the nature of blockchains and DeFi, this unlocks 24/7 markets that are globally accessible for market participants around the world.