SP500 Hyperliquid Synth (USDC) | LAGOON

Strategy

This vault maintains continuous long exposure to the S&P 500 via the Hyperliquid HIP-3 perpetual market xyz:SP500, targeting roughly 1× notional relative to equity.

Capital allocation (default targets)

~50% of equity as margin on the HIP-3 dex to collateralize the long perp
~50% supplied to Hyperliquid Earn to earn yield on idle cash
Position size is scaled so notional ≈ 1.0 × total equity

Scope of permissions

This strategy is curated by 9Summits. All permissions are public and managed onchain using Zodiac Role Modifier. Current permissions are the following:

Approve USDC to vault for redemptions
Send USDC to Fordefi HL trader address
Settle vault

Permission scope for address 0x500d55DDbFfFEa25282D97746b68CC062ED72Bc5 (Fordefi) are

Trade on xyz:SP500/USDC
Rebalance beween HL earn and Perp position

How it works

A stateless rebalancer. It reads live on-chain state (equity, position size, mark price, margin, Earn balance). When any leg drifts beyond a small relative threshold, it:

Adjusts the long position
Moves USDC between default perp, spot, HIP-3 margin, and Earn to restore the target split

Risks

Perpetual basis / funding: long exposure can under- or outperform cash S&P due to funding rates and basis
Liquidation / margin: although global leverage is ~1×, the position sits on a HIP-3 account with its own leverage settings (2x); large adverse moves or failed rebalances can stress margin
Tracking error: maker-only execution can delay fills; the vault may temporarily deviate from target exposure
Smart-contract / protocol / operational risk (Hyperliquid, Earn, bridge)

Curator

9Summits.io is an onchain asset manager specializing in decentralized finance (DeFi), dedicated to elevating investor returns through expert curation and risk-managed strategies. 9Summits curates top-performing vaults across leading protocols like Lagoon Finance, Morpho, Euler, and Silo, empowering users to access the best risk adjusted returns onchain.

Fees

Management

1%

Performance

0%

High Water Mark

Can reset

Roles

Owner

Curator

Valuation Manager

Access Manager

Security Council

Super Operator

Vault Info

Address

Underlying Asset

Implementation

Version

v0.6.0

Strategy

This vault maintains continuous long exposure to the S&P 500 via the Hyperliquid HIP-3 perpetual market xyz:SP500, targeting roughly 1× notional relative to equity.

Capital allocation (default targets)

~50% of equity as margin on the HIP-3 dex to collateralize the long perp
~50% supplied to Hyperliquid Earn to earn yield on idle cash
Position size is scaled so notional ≈ 1.0 × total equity

Scope of permissions

This strategy is curated by 9Summits. All permissions are public and managed onchain using Zodiac Role Modifier. Current permissions are the following:

Approve USDC to vault for redemptions
Send USDC to Fordefi HL trader address
Settle vault

Permission scope for address 0x500d55DDbFfFEa25282D97746b68CC062ED72Bc5 (Fordefi) are

Trade on xyz:SP500/USDC
Rebalance beween HL earn and Perp position

How it works

A stateless rebalancer. It reads live on-chain state (equity, position size, mark price, margin, Earn balance). When any leg drifts beyond a small relative threshold, it:

Adjusts the long position
Moves USDC between default perp, spot, HIP-3 margin, and Earn to restore the target split

Risks

Perpetual basis / funding: long exposure can under- or outperform cash S&P due to funding rates and basis
Liquidation / margin: although global leverage is ~1×, the position sits on a HIP-3 account with its own leverage settings (2x); large adverse moves or failed rebalances can stress margin
Tracking error: maker-only execution can delay fills; the vault may temporarily deviate from target exposure
Smart-contract / protocol / operational risk (Hyperliquid, Earn, bridge)

Curator

9Summits.io is an onchain asset manager specializing in decentralized finance (DeFi), dedicated to elevating investor returns through expert curation and risk-managed strategies. 9Summits curates top-performing vaults across leading protocols like Lagoon Finance, Morpho, Euler, and Silo, empowering users to access the best risk adjusted returns onchain.

Fees

Management

1%

Performance

0%

High Water Mark

Can reset

Roles

Owner

Curator

Valuation Manager

Access Manager

Security Council

Super Operator

Vault Info

Address

Underlying Asset

Implementation

Version

v0.6.0