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Roadmap

Hypercall is building a decentralized options exchange on Hyperliquid. This roadmap outlines our development phases from testnet to mainnet.

Current Status​

Mobile Testnet is live. Trade options on testnet.hypercall.xyz. If you have questions or suggestions, use the in-app Feedback button or reach out on Twitter.

Development Phases​

Mobile Testnet (Live)​

The first public testnet focuses on mobile browser trading with a simplified margin model.

Try it now: testnet.hypercall.xyz

Features:

  • Mobile browser interface (connect via MetaMask, WalletConnect, etc.)
  • Standard Margin only (switching to Portfolio Margin is disabled)
  • Options on BTC, ETH, and HIP-3 Perp underlyings
  • Whitelisted liquidator
  • Testnet faucet for paper trading

Access:

  • Public, anyone can trade
  • No whitelist required

Not Included:

  • Desktop/web app
  • Portfolio Margin
  • Builder codes

Pro Testnet​

Pro Testnet expands to desktop, adds Portfolio Margin, and enables integrations.

New Features:

  • Web app (desktop interface)
  • Perp/spot trading (for Options Writers)
  • Portfolio Margin - cross-margining for Hyperliquid perps and options, spot collateral excluded in this phase
  • Permissionless liquidations
  • Builder code integration for partners

Access:

  • Public, Standard Margin available to all
  • Portfolio Margin may require application

Mainnet​

Production launch on Hyperliquid L1 with real assets.

Features:

  • Real USDC deposits and withdrawals
  • Standard Margin open to all traders
  • Portfolio Margin for whitelisted accounts
  • Full liquidation and settlement mechanics
  • Rollout of rebates, referral programs, and liquidity incentives

Requirements Before Launch:

  • Smart contract audits completed
  • Load testing gates passed
  • Insurance fund seeded

HIP-4 Integration​

Native HIP-4 threshold markets as hedge building blocks for option writers.

Features:

  • HIP-4 positions visible alongside perps and vanilla options in the writer view
  • Threshold ladder credit in Portfolio Margin for aligned strike-region hedges
  • One-click writer packs: quote the option, suggest the perp plus HIP-4 stack, preview marginal IM

Physical Settlement​

Move from cash-settled to physically settled options where the underlying asset is delivered at expiry.

Options as HyperCore Margin​

Use option positions as collateral on HyperCore via lending, unlocking capital efficiency across the full stack.

Get Involved​

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