Use Signal
Perp rewards
Perp rewards use a share of a token's trading fees to fund a position in its selected HyperCore market. Your earned units are slices of that position and its accounted cash. They are separate from your token balance.
Available profiles include long or short, with 1×, 3× or 5× target exposure, subject to the specific market and launch lane being enabled. Existing tokens retain their own profile. A target is not a continuously exact leverage ratio.
At the 21 September 2026 review, all six directional profiles were selectable for xyz:NVDA on Ramses Curve. Those six rows had no Classic companion. Other markets and Classic launches have their own coverage; do not assume a profile works everywhere. Check the launch picker and the current market roster.
From fees to your share
- The token's holder-fee allocation reaches its funding gateway.
- The gateway records the fee hour. Supported conversion turns the funding asset into USDC on EVM liquidity with price guards.
- Eligible fees accumulate into a batch. The standard floor is 10 USDC, with token-specific batch settings and venue minimums also applying.
- The batch funds the token's adapter. Issuing ledger units and opening or adding to the HyperCore position are separate steps.
- The batch's holder allocation is divided using eligible balance × time over its credited fee hours. Your current token balance does not grant ownership of fees from hours before you held.
Fees are attributed to the hour they reach the gateway, which can be later than the trade. Later conversion preserves that recorded attribution. Do not describe the system as allocating units to balances at the exact instant of every swap.
A batch's covered fee hours must close before its holder shares can be finalized. The ledger derives those shares from balance checkpoints and can record them over several bounded processing calls; it does not update every wallet in the transaction that first issues the batch.
Quiet tokens can wait indefinitely below a threshold. There is no guaranteed time from buying a token to receiving your first units, and a funded account is not proof an order has filled.
Selling and cashing out
Selling the token does not erase units you have already earned. It changes your eligibility for future fee-hour allocations. Selling the token and exiting earned rewards are different actions.
Use Cash out on the token page to request an exit. The system can reduce the position, move USDC from HyperCore to EVM, settle the request and push cash to your wallet. Already available cash may satisfy an exit without a new position reduction. A claim action is a fallback for collecting settled cash.
An exit request is not a payment receipt. Venue execution, bridging and processing can take time; there is no guaranteed settlement duration.
The normal keeper cash push has no caller bounty. If an outside caller pushes settled cash after the ledger's 10-minute grace period, the current ledger can deduct 0.1% of that payment, capped at 2 USDC per holder per push, as the caller's bounty. A holder's own claim(token) collects their settled cash without that bounty; transaction gas still applies.
Costs and liquidation
Position value changes with market prices, funding and execution costs. The standard performance fee is 10% of positive gains in each redeemed batch, under the batch's own terms.
Liquidation can wipe out the rewards position and stop new investment. Remaining accounted cash may still be withdrawable. A 1× target is not principal protection; higher leverage increases sensitivity to adverse moves. The token itself also has its own market risk.
Read the token's market, direction, target, actual exposure, recorded entry, cash and data timestamps separately. A missing read is unknown, not zero exposure or a zero entry price. See permissions and trust assumptions.