HYPE Position

How PerpLog accumulates HYPE from its fee revenue, why we commit to it, and why we don't display the founder's wallet balance live on this page.

The commitment

After covering infrastructure, founder cash draw (ratchet with MRR, $50k/mo hard ceiling), team salaries, and a 3–6 month runway buffer, every surplus dollar of PerpLog fee revenue is periodically swapped from USDC to HYPE on the Hyperliquid spot market and staked on Hyperliquid. This is run manually by the founder on a best-effort cadence (target: every few weeks as revenue accumulates past the HL $10 spot minimum). Full waterfall spec on /docs/compensation.

Why no live balance on this page

An earlier version of this page rendered a live KPI card showing the team wallet's HYPE staked / undelegated / spot amounts, refreshed daily by a public cron. The read-only path was clean — but the wallet that receives builder-code fees is quasareum.eth, the founder's primary on-chain identity. It is also the wallet from which the founder trades personally on Hyperliquid (the whole point of accumulating HYPE is that the HL staking tier discount applies to his own trading). Separating “project-attributable” HYPE from “personal-pre-existing” HYPE would have required moving the stake to a different wallet — which would have defeated the staking-discount benefit the accumulation is meant to produce.

So the stake and the founder's personal position are the same position, same wallet, by architectural necessity. Publishing a first-row KPI tying the founder's public identity to a live balance readout is a level of personal-security exposure that isn't warranted for the transparency gain — especially given the info is already on-chain for anyone who wants to look. We don't obscure; we just don't voluntarily serve a targeting page.

How to verify independently

Everything needed to verify the commitment is on-chain:

Builder-code revenue inflows — the builder-code receiver wallet (quasareum.eth, 0x42c137538bee9d7eca612b41a807b5fb7b863c20) receives fees daily via Hyperliquid's builder-fills pipeline. Public at stats-data.hyperliquid.xyz/Mainnet/builder_fills/0x42c137538bee9d7eca612b41a807b5fb7b863c20/ by day. Also aggregated on /stats/revenue.
HYPE position of that wallet — queryable via the Hyperliquid info endpoint: POST https://api.hyperliquid.xyz/info { type:"delegatorSummary", user:"0x42c137538bee9d7eca612b41a807b5fb7b863c20" }. Returns staked / undelegated / pending HYPE. Zero PerpLog servers in the loop.
Cross-reference — fee revenue growth on /stats/revenue over a window should translate to commensurate HYPE balance growth on the wallet above, minus infra / founder cash / team salaries / reserve per the waterfall on /docs/compensation. Any sustained divergence is a red flag worth calling out publicly.

Rules the team commits to

Surplus always converts to HYPE eventually.We don't hoard USDC. The “best-effort cadence” is a few weeks, not a few years.
1-year lock from acquisition. HYPE acquired in a given month is locked for one year before it can be unstaked by any team member for personal use.
Monthly unlock after the 1-year lock. Following the lock, unlocking is linear per month. No cliff or bullet release.
Pre-announcement for any unstake. If any team member plans to unstake HYPE for personal use, they announce it at least 30 days ahead, with the reason. No silent exits.