# Pairing assets and venues

The **pairing asset** is what a token trades against. The **reward asset** is what its reward system distributes or invests. A native-HYPE entry route can convert into the pairing asset, but it does not change that asset's identity.

## Signal v4

A Signal v4 token trades against one asset for life, chosen at launch, and every fee and payout of the token is in that asset.

- **HYPE** is the default. Inside the pool it is WHYPE; the route wraps and unwraps for you.
- The launch page lists the other admitted assets ("32 admitted" on 12 October 2026): Hyperliquid tokens, tokens launched on Signal, stock tokens and dollar stables. The live list is the factory's own and is published in [configuration](https://signal.family/api/config) under `v4_lane_v42.quotes`.
- **The list is the factory's, and Signal adds to it.** The launch page states the rule: a token launched on Signal qualifies once it has held a $20,000 market cap for 24 hours; anything else after a review, asked for from its token page. Pasting an address on the launch page only checks whether it is admitted; it cannot add one.
- **An asset can keep a cut of its own transfers.** PSTR keeps 10% on every move in and out. A token paired with it can be bought and sold with HYPE through a router Signal runs for such assets, and every amount received lands after the cut.
- A stock token is a wrapper issued by a third party. A token paired with one is not a claim on the stock.

The start price and the bands the supply is placed in are set per pair asset by the factory. A launched pool's are fixed.

## Earlier launch types

| Route | Pairing and rewards |
| --- | --- |
| Ramses Curve | Admitted pairing asset; standard spot rewards use that asset |
| Project X Curve | Admitted pairing asset; standard spot rewards use that asset |
| Project X Classic | Depends on the launch's admitted pairing and reward election |
| Hybra Classic | HYBR pairing with HYBR holder rewards |
| Perp reward election | Fee proceeds fund the selected HyperCore position; exits settle in USDC |

HYBR on HyperEVM is `0x067b0c72aa4c6bd3bfefff443c536dcd6a25a9c8`. Native HYPE is not an ERC20; WHYPE is `0x5555555555555555555555555555555555555555`.

## Availability is specific

Admission for Classic does not automatically admit an asset for Curve, and a Ramses route does not automatically create a Project X route. Use the launch picker and [public configuration](https://signal.family/api/config). A catalog search result alone is not an enabled launch option.

Core-backed EVM assets may represent shares or wrapped instruments. Their symbol does not prove delivery of the underlying asset on HyperCore. Read the payout asset, decimals, delivery type and route status together.

## Hybra

Signal's HYBR route launches directly into Hybra's concentrated-liquidity market. It does not use the Ramses/Project X bonding curve router documented in this integration release. There is no separate creator-funded quote seed in the supported launch path; buyers still spend actual assets, and opening liquidity does not guarantee depth.

Hybra fees can depend on live pool and gauge state. The configuration snapshot is discovery data, not a perpetual guarantee of a fee tier or gauge status. Read the current quote and token-specific terms.