Memes are the new margin.
Every trade launches its own meme. The meme's trading fees grow the trade. If the trade hits its target, the people holding the meme take the profit.
Call it.
Pick a Hyperliquid market, long or short, a leverage, a target and a stop. Your USDC is the margin.
Coin it.
The trade launches its own pump.fun meme: name, ticker and art made from your call. You can buy some yourself at launch.
Fees feed it.
Every buy and sell of the meme pays a creator fee. Once an hour it's collected and, once at least $2 has built up, added to the position as extra margin. Smaller amounts are paid out with the pot.
Holders get paid.
Hit the target and the profit is split between everyone holding the meme, in USDC. Hit the stop and the creator gets their margin back first; anything left above it (fees that had been added) goes to holders too.
- You put up the margin and pay the launch costs.
- At the target you get your margin back. The profit goes to holders, so buy your own coin if you want a share of it.
- At the stop you get back whatever is left of the margin.
- After the close, the coin's trading fees go to you, once a day.
- Buy a coin on a live trade you believe in. Your share of the pot = your coins ÷ every coin held.
- Every trade of the coin, yours included, adds fees to the position and grows the pot.
- Target hit: your share of the profit lands in your wallet in USDC.
- Stop hit: no payout, but you can still sell the coin.
$20 margin, long at 10x, target +5% on price (+50% on margin), stop −2% (−20% on margin). Before any trading fees are added.
The creator pays every cost of running the trade. SOL for fees is swapped from your USDC automatically when needed.
Questions
How do holders get paid?
When the market reaches the trade's target before its stop, the position closes and its profit is split between everyone holding the coin at that moment, by how much they hold. It's sent in USDC straight to your wallet. Nothing to do.
Do I have to claim anything?
Usually not. Payouts go out automatically. If your wallet has never held USDC, or your share is under $0.05, a Claim button shows up on the coin's page and in My bags instead.
What if the stop hits?
The creator gets back up to their own margin; anything left above that (trading fees that had been added to the position) is split between holders. Usually that is little or nothing. The coin keeps trading like any pump.fun coin, so you can still sell it.
Can I sell before it closes?
Yes, any time. You only share the payout if you hold at the moment the target hits.
Where do the trading fees go?
Every trade of the coin pays a creator fee. Once an hour it's collected, and once at least $2.00 has built up it is added to the position as extra margin. Smaller amounts wait and are paid out with the pot at the target. A bigger position means a bigger payout at the target. The target and stop never move. After the position closes, the coin's fees go to its creator instead, in USDC, once a day.
How much margin do I need?
The minimum depends on the leverage and the market: Hyperliquid's smallest order is $10, and about $1.25 of the margin goes to bridging and opening the trade's account. At 5x that is $3.50 on most markets, a little more where one unit of the market is worth over $10. The launch page shows the range before you continue.
When does the position open?
About 1 to 2 minutes after launch, at the market price then: the margin first moves from Solana to Hyperliquid. Your target and stop are fixed prices set at launch, so one placed very close to the price can be passed before the position opens.
What if the position can't open?
If the price has already passed the target or the stop when the margin lands, or the order can't be placed within about 30 minutes, the trade is cancelled and the margin is sent back to the creator automatically. About $1.25 of bridge and Hyperliquid account fees can't be recovered. The coin stays tradable like any pump.fun coin.
Where is the money? Can anyone take it?
The margin sits in the coin's own Hyperliquid account, opened only for that trade. The creator can't withdraw it. It only leaves when the target or the stop is hit. You can check any account yourself: open Position details on a coin's page and tap Hyperliquid.