Architecture

A high-level overview of how Vertex Alpha is structured across the current testnet app and planned protocol stack.

System Layers

Quickstart

Go from zero to using the HyperEVM testnet app in under five minutes.

Vault Overview

Vertex Alpha vaults are a roadmap primitive, not the current core live app. The live testnet product is led by pools, swaps, locking, gauge voting, rewards, and portfolio tracking.

Vault Types

Vault Metrics

Creating a Vault

Vault creation is roadmap documentation. It describes the intended strategy-vault flow and should not be treated as a live mainnet instruction.

Managing a Vault

Roadmap documentation for future vault managers. This section is not a promise that public vault management is available today.

Trading Authority

The vault manager's wallet is the sole authorised signer for trades placed from the vault's Hyperliquid sub-account. No depositor, third party, or smart contract can execute trades, only the manager.

Manager Dashboard

Your Dashboard shows:

• Live PnL and unrealised positions
• Current AUM and share price
• Depositor count and recent deposit / withdrawal activity
• Accrued but unclaimed management and performance fees

Claiming Fees

Fees accrue continuously but must be manually claimed by the manager. Claiming mints new vault shares to the manager's wallet at the current share price, diluting depositor shares by the fee amount.

Vault Closure

Managers may close a vault at any time. Closure winds down all open positions, distributes remaining USDC pro-rata to all share holders, and removes the vault from the Discovery page.

Depositing & Withdrawing

Roadmap documentation for future vault deposits and withdrawals. Do not use this page as live mainnet deposit guidance.

Depositing

To deposit into a vault:

1. Open the vault page and click Deposit.
2. Enter the USDC amount you wish to allocate.
3. Review the current share price and estimated shares you will receive.
4. Confirm the transaction in your wallet.

Shares are minted at the current share price at the block your transaction is included. There is no slippage, the price is exact.

Withdrawing

Withdrawals burn your vault shares and return the proportional USDC value to your wallet, net of any applicable performance fees.

Share Price Example

Fee Structure

Vertex Alpha earns fees from two engines, the DEX (trading fees) and the vaults (manager + protocol fees). Both convert to HYPE and flow to veVXA lockers.

Manager Fees

Protocol Fees

The protocol takes a flat 0.1% of vault profits, plus a share of DEX trading fees from the concentrated-liquidity markets. Both streams are converted to HYPE and distributed to veVXA lockers, so locker yield is backed by real revenue rather than token emissions.

High-Water Mark

Performance fees are only charged on new all-time-high profits. If a vault falls in value, the manager earns no performance fee until the share price exceeds its previous peak. This aligns manager incentives with depositor outcomes.

Token Overview

VXA is the native token of Vertex Alpha. Lock it for veVXA to direct emissions, capture fees from both the DEX and the vaults (paid in HYPE), and govern the protocol.

Token Utility

Token Distribution

Staking

Lock VXA into veVXA to direct emissions and earn fees from both the DEX and the vaults, paid in HYPE.

How Locking Works

Reward Calculation

Your locker APR is determined by:

• Fees from both engines,DEX trading fees plus the protocol's share of vault fees
• Your veVXA share of the markets you voted for
• Lock duration,longer locks earn more veVXA and a larger share

Governance

veVXA holders govern Vertex Alpha two ways: weekly gauge votes that steer emissions, and on-chain proposals over protocol parameters.

Governable Parameters

• Protocol fee rate (currently 0.1% of vault profits)
• Manager fee caps (maximum allowed management and performance fees)
• Staking cooldown period
• Treasury spending
• Smart contract upgrades (via timelock)

Proposal Lifecycle

Contract Overview

Current HyperEVM testnet addresses used by the Vertex Alpha app. Testnet addresses are unaudited and may change before mainnet.

Contract Addresses

Upgrade Policy

The current testnet deployment is for product validation and contract hardening. Mainnet upgrade policy, ownership, timelocks, and final contract addresses must be published before any real-fund launch.

Do not treat testnet parameters, testnet addresses, or placeholder governance thresholds as final protocol commitments.

VaultFactory

The VaultFactory contract is the entry point for vault creation. It deploys VaultCore instances and maintains the registry of all vaults.

Key Functions

/// @notice Deploy a new vault
function createVault(
    string calldata name,
    string calldata strategy,
    uint256 managementFeeBps,   // e.g. 100 = 1.00% / yr
    uint256 performanceFeeBps,  // e.g. 2000 = 20%
    uint256 seedAmount          // initial USDC deposit (18 dec)
) external returns (address vault);

/// @notice Return all registered vault addresses
function getAllVaults()
    external view
    returns (address[] memory);

/// @notice Return vault count
function vaultCount() external view returns (uint256);

Events

event VaultCreated(
    address indexed vault,
    address indexed manager,
    string name,
    uint256 timestamp
);

Reward Distribution

The current testnet flow locks VXA into veVXA, routes fees through the FeeConverter, and distributes HYPE rewards through the RewardsDistributor.

Key Functions

/// Representative app flow, exact ABI should be verified before use
lock VXA into VotingEscrow
vote through Voter
convert fees through FeeConverter
claim HYPE from RewardsDistributor

Reward Distribution Flow

1. Trading and protocol activity creates fee revenue.
2. The FeeConverter routes eligible fee value into HYPE.
3. RewardsDistributor makes HYPE available to eligible veVXA lockers.
4. The app presents claimable reward state from the current testnet contracts.

Security

Security status for the current testnet app and planned mainnet protocol. Testnet is unaudited and must not be treated as a real-fund release.

Threat Model

Audit Status

Bug Bounty

A bug bounty programme should be launched alongside mainnet readiness. Reward levels and scope are not final until published by the team.

Mainnet Readiness

Before mainnet, Vertex Alpha needs a published audit, confirmed ownership model, confirmed upgrade policy, verified contract addresses, and a live incident response path. Until then, the public app should be treated as testnet only.

FAQ

Answers to the most common questions about Vertex Alpha.

General

Is Vertex Alpha live on mainnet?

Not yet. Vertex Alpha is currently public on HyperEVM testnet, with testnet contracts where marked live. Mainnet follows audit, final parameters, and the official launch announcement.

Do I need to KYC to use Vertex Alpha?

No KYC is required to connect a wallet to the testnet app. Future jurisdictional or front-end restrictions, if any, must be published before mainnet.

Is Vertex Alpha non-custodial?

The testnet app is designed around wallet-held assets and auditable smart contracts. Because the contracts are unaudited testnet deployments, users should not treat this as a real-fund custody guarantee.

Vaults

Can I lose more than I deposit?

No. Depositors cannot lose more than their deposited amount. Vaults cannot be leveraged beyond the Hyperliquid platform's margin rules, and there are no mechanisms for socialised loss.

What happens if a manager goes inactive?

Depositors can withdraw at any time, manager presence is not required for withdrawals. If a vault has no open positions, funds can be reclaimed instantly.

Are vault fees negotiable?

No. Fees are set at vault creation and locked permanently. Choose vaults whose fee structures align with your expectations.

VXA

Where can I buy VXA?

VXA is a testnet token today. It has no value, no public market, and no announced TGE date.

What is the total supply of VXA?

Total supply will be disclosed in the official tokenomics publication prior to TGE.