tapoooooty/hypergrad

HyperGrad is a Python toolkit for running a builder-deployed perpetuals DEX on Hyperliquid under HIP-3, aimed at Solana memecoins that graduate from pump.fun. It is not a trading front end or a runnable market by itself: HIP-3 requires the deployer to stake 500,000 HYPE (the README estimates ~$45M), list the markets and supply the oracle, while Hyperliquid handles order books, margin and liquidation HIP-3 rules. The README marks the project as testnet status.

The market design

Markets are tiered by market cap. A coin at a $500K market cap joins grad:GRAD, an index perp; holding $500K for a full day with at least $100K pool liquidity and $500K daily volume earns its own 2x perp; past $5M leverage rises to 3x. The listing policy is in the docs listing policy. A bundled unit (for example, one million WIF) makes sub-cent prices fit Hyperliquid's five-significant-figure pricing.

What the code actually runs

Four processes carry the workflow. A manager scans every 10 minutes for graduates, checks holders over Solana RPC, assigns tiers and rebalances the index daily. An oracle takes a median of DexScreener, Jupiter and optionally an on-chain PumpSwap pool every ~3 seconds, applies an EMA mark, freezes on bad data and halts a market that stays frozen. A market maker posts add-liquidity-only ladders and pulls quotes when a market is halted or the oracle is stale. A read-only dashboard exposes state and a health endpoint for a standby oracle how it works.

Setup follows the documented commands: install with Python 3.10+, fill .env with separate deployer, oracle and market-maker keys, run doctor as a preflight, then scan, init-dex, oracle and mm quick start. Docker Compose and systemd units exist for running the oracle and manager on a VPS, because the oracle cannot sleep running on a server. All commands are also available through python -m hip3 commands.

Constraints that decide fit

• Capital and authorization. The 500,000 HYPE stake, testnet funding, a private Solana RPC, market-making capital and legal advice are listed as things code cannot do operations.
• Slashing risk. A bad oracle input can slash up to 100% of the 500,000 HYPE whether caused by malice, a bug or a stolen key; the README advises keeping the oracle key separate and the deployer key offline.
• Stale marks in rugs. Hyperliquid moves a HIP-3 mark at most 1% per update, so in a −90% crash positions sit on a stale price; leverage stays low and margin isolated for this reason. The backtest command replays a coin's history to show the lag for that coin.
• Data dependencies. The pump.fun API is unofficial; the scanner falls back to DexScreener alone, and the README recommends at least two oracle sources on mainnet.
• Testnet first. The README asks operators to rehearse halts, failover and the market maker on testnet before mainnet.

MIT license repository. This is infrastructure for someone who intends to operate a perp venue, not a tool for retail trading.