Contracts deployedElysium
The token is the market.
Gyre is an inverse perpetual on Elysium with a single asset. You post GYRE as margin, go long or short GYRE up to 5×, and get paid in GYRE. Nothing else enters the system.
- Network
- Elysium
- Chain 99901
- Token
- Not launched
- No contract address yet
- Contracts
- 0x76f1…f1e3
- Protocol registry
- Trading
- Closed
- Opens after the oracle warms up
- Maximum leverage5×
- Maintenance margin10%
- Trading fee0.10%
- Funding≤ 0.10%
- Mark price15 min
- Profit cap10×
- Vault utilisation80%
- LiquidationAny wallet
- NetworkElysium 99901
- CollateralGYRE only
How it works
One asset does every job.
Most perpetuals need a stablecoin for margin and a second asset to trade. Gyre has only GYRE. These four steps are the whole system, and the last one feeds the first.
Acquire
Buy GYRE with HYPE on the spot market.
Post margin
Deposit GYRE. It is the only collateral the protocol accepts.
Take a side
Go long or short GYRE against HYPE, from 1× to 5×.
Settle
Profit, loss, fees and funding are all paid in GYRE.
What you take out at step 4 is what you bring back in at step 1.
Positions
The payoff is curved, not straight.
A position is sized in HYPE but margined and paid in GYRE. A price move changes both what the position owes and what each GYRE is worth.
PnL in GYRE = size in HYPE × (1 / entry − 1 / mark)- A long can never earn more GYRE than its leverage times its margin, however far price rises.
- A short’s GYRE payout accelerates as price falls, up to a cap of 10× its margin.
- Either side is closed out once its equity reaches 10% of its size.
| Price | Long | Short |
|---|---|---|
| +15% | +391 GYRE | −391 GYRE |
| −15% | −529 GYRE | +529 GYRE |
Move across the chart to read any price.
- Long 3×
- Liquidated at −18.9%
- Earns at most 3× margin
- Short 3×
- Liquidated at +30.4%
- Earns at most 10× margin
Reflexivity
Your collateral is the thing you are trading.
Margin is held in GYRE, so its value moves with the market. Measured in HYPE, a long carries one more turn of exposure than its ticket says, and a short carries one less.
A 1× short is flat: it locks in the HYPE value of your GYRE. A 5× long is six times long and is closed out by a 9.1% fall.
Every material risk- 1× ticket: a short is Flat, closed out at +900%; a long is 2× long, closed out at −47.4%
- 2× ticket: a short is 1× short, closed out at +66.7%; a long is 3× long, closed out at −28.6%
- 3× ticket: a short is 2× short, closed out at +30.4%; a long is 4× long, closed out at −18.9%
- 4× ticket: a short is 3× short, closed out at +17.6%; a long is 5× long, closed out at −13.0%
- 5× ticket: a short is 4× short, closed out at +11.1%; a long is 6× long, closed out at −9.1%
Holding the token with no position is 1× long. Liquidation moves are before fees and funding.
Rules
Who pays when a position fails.
Losses are absorbed in a fixed order. No GYRE is ever minted to cover one.
Position margin
The losing position's own collateral goes first.
Fees and penalties
Trading fees and liquidation penalties already collected.
Liquidity vault
LP capital, the same pool that pays winning traders.
Insurance fund
A reserve seeded before trading opens.
Auto-deleveraging
Last resort: profitable positions on the other side are reduced.
Launch parameters
Gyre / Elysium 99901
- Maximum leverage
- 5×
- on any position, long or short
- Maintenance margin
- 10%
- of position size, or it is liquidated
- Trading fee
- 0.10%
- to open, and again to close
- Funding
- ≤ 0.10%
- per hour, paid by the crowded side
- Mark price
- 15 min
- TWAP of the spot pool
- Profit cap
- 10×
- margin, per position
- Vault utilisation
- 80%
- ceiling; new positions stop there
- Liquidation
- Any wallet
- can trigger it, at the validated mark
Liquidity
The vault takes the other side.
LPs deposit GYRE into one vault. It pays traders who win and keeps what traders lose, plus fees. Liquidity reserved for open positions cannot be withdrawn, and the rest can only leave slowly, so the vault cannot run ahead of the positions it backs.
Provide liquidityIn
- LP deposits
- Trader losses
- Trading fees
Out
- LP redemptions
- Trader profits
- Loss cover
- 4-hour minimum wait
- A deposit or a withdrawal is a request. It cannot settle sooner.
- 20% per epoch
- The most that can leave the vault in any 24 hours.
- Reserved payouts stay
- Liquidity backing open positions is never withdrawable.
Status
Where things stand.
There is no GYRE contract yet. Any token using the name today is not this one. The address will appear here and on @gyretrade when it exists.
2/ 6launch steps complete
- NetworkElysiumChain 99901, gas and quotes in HYPEDone
- Protocol contracts0x76f1…f1e3Registry address. Every other contract resolves from it.Done
- GYRE tokenNot launchedNo contract address exists yet.Next
- MarketUnboundToken, spot pool and price source are sealed in once and cannot be changed.Pending
- OracleNot startedNeeds a full 15 minutes of fresh samples before any position can open.Pending
- TradingClosedOpens only when everything above holds.Pending