Hypersurface is a DeFi platform for volatility-yield products, specializing in on-chain covered calls and cash-secured puts that generate real yield for crypto holders.
Built for holders, treasuries, funds, market makers, and everyday DeFi users, Hypersurface makes it simple to earn steady income on assets you already own.
Users choose their strike, expiry, and yield preferences, giving full control over when to sell and at what price.
At its core, Hypersurface brings one of the most proven TradFi income strategies on-chain in a transparent and composable way. Instead of inflationary emissions or opaque vaults, every yield position is driven by real market demand for volatility. Premiums are paid upfront, outcomes are predetermined, and all execution happens on-chain through audited smart contracts.
With covered calls and cash-secured puts as its foundation, Hypersurface is building the broader infrastructure layer for on-chain volatility yield. These primitives unlock predictable, market-driven income for individuals, institutions, and builders who want to integrate advanced yield strategies into their own products.
As volatility becomes the next major yield source in crypto, Hypersurface enables anyone to capture it efficiently, transparently, and across ecosystems.
A new standard for on-chain income is forming. Hypersurface is where it begins.
app.hypersurface.io
docs.hypersurface.io
1. Getting Started.
Before placing any position, you only need:
• A supported wallet
• Supported assets (for calls) or stablecoins (for puts)
• Access to the app: app.hypersurface.io
Once inside, connect your wallet and you’ll land on the asset dashboard.
2. Using Covered Calls
Step-by-Step: How to place a Covered Call
Step 1 — Choose your asset
Select the token you want to earn yield on (ex. HYPE, SOL, BTC, ETH, PUMP, ZORA, AVNT, MAMO, XPL).
Step 2 — Pick your expiry
Options expire weekly on Fridays at 08:00 UTC.
Step 3 — Pick your strike price
This is the price at which you’re willing to sell the token if the market goes above it.
Higher strike = safer, lower yield
Lower strike = riskier, higher yield
Step 4 — Review your upfront premium
This is your guaranteed yield. You receive it immediately after opening the position.
Step 5 — Confirm the position
Your asset moves into the smart contract until expiry. What happens at expiry?
Below strike Keep your asset Premium
At strike Keep your asset Premium
Above strike Asset gets sold at strike Premium + sale proceeds
No liquidations, no surprise losses.Your maximum risk is selling at your chosen price.
3. Using Cash-Secured Puts
Cash-Secured Puts let you earn yield while waiting to buy a token at a cheaper price you choose. It’s the opposite of a covered call.
When to use Cash-Secured Puts
• You want to buy a token at a discount
• You want to earn yield while waiting
• You are fine holding stablecoins temporarily
Step-by-Step: How to place a Cash-Secured Put
Step 1 — Choose your asset
Select the token you’d like to potentially buy (ex. BTC, ETH, HYPE)
Step 2 — Pick your expiry
Same weekly expiry every Friday at 08:00 UTC.
Step 3 — Pick your strike price
This is the price you’d be comfortable buying the token at.
Lower strike = safer, lower yield
Higher strike = riskier, higher yield
Step 4 — Lock your stablecoins
The required stablecoin amount is locked until expiry. This ensures you can purchase the asset if exercised.
Step 5 — Receive your premium instantly. You get paid upfront the moment the put is opened. What happens at expiry?
Above strike Stablecoins returned Premium
Below strike You buy the token at strike Premium + token at discount
Cash-secured puts are perfect for buying tokens cheaper while earning yield.
5. Risk Overview
Both strategies are simple and transparent.
Covered Calls Risk: Your token may be sold if price exceeds your strike. Potentially loosing some of the upside of the asset.
Cash-Secured Puts Risk: Your stablecoins may convert into the asset at the strike. Potentially buying the asset at a higher price than the market.
There are no liquidations, no forced selling, and no hidden losses.
app.hypersurface.io
docs.hypersurface.io