Native tokens for traders

Anyone can create a HyperCore token, so the checking falls on you. The deployer pays gas in an auction; nobody reviews the result.

The standard guarantees a supply capped at genesis that can only fall, balances on the HyperCore ledger and a spot order book from launch. It guarantees nothing about value, fair distribution or what backs a bridged asset (HIP-1).

Supply is fixed, then shrinks

After the auction, deployment fixes name and decimals, genesis balances, maximum supply, the first spot pair and, optionally, Hyperliquidity, a protocol-run launch ladder.

• Supply. maxSupply is also the initial supply; trading fees and burns reduce it.
• Genesis goes to named addresses and, pro rata, to holders of an existing “anchor” token above a threshold.
• Fee share. The deployer takes its share of fees collected in the token, the buy side of each trade, and the rest is burned.

Say a buy pays a 1-token fee at a 40% deployer share: 0.4 goes to the deployer and 0.6 is burned.

The numbers

What to check, and where it lives:

Check	Field	Why it matters
Identity	tokenId (34-character hex), token index (spotMeta.tokens)	Names are short, deployer-chosen and remapped by apps
Supply	maxSupply, totalSupply, circulatingSupply (tokenDetails)	Circulating supply against maximum shows what can still reach the market
Locked or future supply	nonCirculatingUserBalances, futureEmissions	Supply that is not trading today but may later
Who got the genesis	genesis.userBalances, genesis.existingTokenBalances	Concentration in a few addresses is sell pressure waiting
Deployer	deployer, deployTime, deployGas	Who launched it, when, and what they paid
Launch liquidity	seededUsdc; the Hyperliquidity ladder on the book	How much USDC sits under the price at launch
Smallest tradable size	szDecimals, weiDecimals	You cannot sell less than one lot
HyperEVM link	evmContract (spotMeta.tokens)	Whether the token can cross to the HyperEVM
Deployer fee share	deployerTradingFeeShare (HyperEVM precompile 0x80C)	How much of the buy-side fee the deployer keeps

Standard rules that shape these fields:

Rule	Value
Name	at most 6 characters
Decimals	szDecimals + 5 <= weiDecimals; the official frontend allows szDecimals 0 to 2 and weiDecimals 0 to 8
Lot size	10 ** (weiDecimals - szDecimals) in the token’s smallest unit
Deploy auction	Dutch auction over 31 hours, falling to a floor of 500 HYPE
Anchor genesis threshold	0.0001% of the anchor token’s maximum supply
Deployer fee share	0 to 100% of fees collected in the token; default 100%; can only decrease, except that tokens deployed before fee shares existed may raise theirs once, from zero

Before you buy

Work down the first table, identifying the token by tokenId or pair index, never by name. It misses three things:

• The launch ladder is fixed and doesn’t react to news: look at the book beyond it.
• A bridged token is only as good as its bridge and minting. The docs’ simplest setup puts the whole maximum supply, up to 2^64 - 1, in the token’s system address to flow in and out with the bridge, so circulating supply is what counts.
• Descriptions, categories and display names are deployer annotations, changeable once per day: claims, not verification.

Token details from code

{ "type": "tokenDetails", "tokenId": "0x6d1e7cde53ba9467b783cb7c530ce054" }

Take the tokenId from spotMeta.tokens. From the HyperEVM, the tokenInfo precompile at 0x80C returns name, pairs, deployerTradingFeeShare, deployer, evmContract, szDecimals, weiDecimals and evmExtraWeiDecimals for a token index (precompiles).

Names, fees and genesis quirks

The official docs differ

The HIP-1 page says a name has “no uniqueness constraints”, then that the ticker “is a unique onchain identifier”. Identify tokens by tokenId.

• The fees page lets spot deployers keep up to 50 per cent of their token’s fees; the HIP-1 page, up to 100 per cent of fees collected in the token. The bases differ, and the split is unmeasured here.
• Genesis tokens carry an entry price of a 10,000 USDC market cap, so selling them books almost the whole sale as closed PnL (entry price and PnL).
• Balances under one lot and worth at most $1 go to the daily dust conversion.

For the deployer’s side, see Deploying a spot token and Linking a token.