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HyperStrategy is the first and only decentralized HYPE DAT (digital asset treasury), built on HyperEVM, Hyperliquid’s EVM layer, with a single, relentless objective: accumulate as much HYPE as possible. Modeled after MicroStrategy’s playbook of using capital markets to build a concentrated asset position, HyperStrategy brings that same discipline onchain. Instead of corporate bonds and Bitcoin, you get a permissionless suite of onchain financial instruments, starting with convertible bonds, and HYPE, all verifiable, all transparent, all composable.

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The Problem HyperStrategy Solves

Most DeFi protocols scatter capital across a dozen incentive programs, leaving token holders with no clear claim on real assets. HyperStrategy flips that model. Every dollar raised through its issuance products goes directly into growing a protocol-owned HYPE treasury. You always know what backs the token, because you can verify it yourself, no board meetings, no quarterly filings, just onchain data.

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The Three Pillars

Financial Instruments

HyperStrategy raises capital through a growing suite of onchain instruments. Convertible bonds are the first and flagship product, USDT0-denominated ERC-20 bonds with a fixed strike price and maturity date, with additional bond formats and issuance products to follow.

Treasury Accumulation

Every issuance sends capital directly into the treasury, which is used to buy HYPE. The treasury grows with every cycle, and the size of that treasury, divided by HSTR’s market cap, gives you the mNAV ratio: your at-a-glance measure of protocol health.

Yield Farming

Sitting idle is not part of the strategy. The team deploys accumulated HYPE across the best risk-adjusted farms on HyperEVM, generating yield that is used to acquire more HYPE and execute HSTR buybacks, compounding the treasury and tightening supply over time.

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The HSTR Token

$HSTR is HyperStrategy’s native token. The total supply is 1,000,000 HSTR.

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Get Started in 3 Steps

1

Get USDT0 on HyperEVM

Bridge or acquire USDT0 (contract: 0xB8CE59FC3717ada4C02eaDF9682A9e934F625ebb) on Hyperliquid’s EVM layer. USDT0 is the capital currency accepted by all HyperStrategy bonds.
2

Mint a Bond

Visit bonds.hyperstrategy.com, choose an active bond issuance, and deposit your USDT0 to receive Bond ERC-20 tokens proportional to your deposit.
3

Redeem at Maturity

When your bond matures, redeem it onchain. If HSTR’s price is at or above the strike price, you receive HSTR tokens. If below, you receive your full USDT0 principal back, no loss.

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Why HyperStrategy?

Principal Protected

Bonds return your full USDT0 if the strike price is not reached. Your downside is always protected.

HSTR Upside

When HSTR trades above the strike price at maturity, bonds automatically convert to HSTR at a discount to market.

Treasury Yield

The protocol farms accumulated HYPE across HyperEVM DeFi, generating yield that funds more HYPE accumulation and HSTR buybacks, the flywheel effect.
HyperStrategy is live on Hyperliquid’s EVM (HyperEVM). Make sure your wallet is connected to HyperEVM before interacting with the bond contracts.

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Where to Go Next

How It Works

Dive into the full flywheel mechanism, bonds, treasury farming, looping strategies, and mNAV explained step by step.

Tokenomics

Understand the HSTR supply structure, allocation breakdown, and what it means to own a share of the treasury.