Vault Overview

Launching soon. The Lending Vault is built and architecturally complete. It is not yet deployed on HyperEVM mainnet. All information on this page describes the final design, not a live product.

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The Zirodelta Lending Vault is an ERC-4626 smart contract deployed on HyperEVM. It lets you earn passive yield by supplying HYPE, BTC, or ETH. Assets that Autopilot traders borrow to run negative-funding delta-neutral strategies.

What the vault does

The vault sits between two parties:

Depositors supply assets and earn yield. The vault takes those assets and supplies them to Hyperliquid's native borrow/lend reserve via the CoreWriter precompile. A direct L1 call from Solidity, no bridge required. The yield you earn comes from the interest that borrowers pay.

Autopilot traders borrow assets from the vault to short the spot leg of a negative-funding delta-neutral trade. They pay an interest rate to the vault on the borrowed amount. Zirodelta takes a spread between the rate depositors earn and the rate traders pay.

Projected yield

Scenario	Depositor APY
Low utilization	~8%
Medium utilization	~12–18%
High utilization	~22–25%

APY is dynamic. It depends on how much of the vault's deposited assets are actively borrowed by Autopilot traders. When borrowing demand is high, rates go up. When demand is low, rates come down. The range of 8–25% reflects typical utilization scenarios, not a guarantee.

Supported assets

At launch, the vault will accept:

• HYPE (Hyperliquid's native token)

• BTC (spot on Hyperliquid)

• ETH (spot on Hyperliquid)

Each asset is managed in a separate vault pool with independent utilization and yield calculations.

ERC-4626 standard

The vault implements the ERC-4626 tokenized vault standard. This means:

• You deposit an asset and receive vault shares in return

• As the vault earns yield, each share becomes worth more of the underlying asset

• You withdraw by redeeming shares for the underlying asset plus accumulated yield

This is the same standard used by major DeFi yield protocols. Any tooling that understands ERC-4626 can interact with the Zirodelta vault.

How yield compounds

When you deposit, you receive shares. The vault's share price increases as interest accrues. When you withdraw, you receive your original deposit plus the yield that accrued during the time your assets were deployed.

You do not need to claim or compound manually. The share price mechanism handles it.

Risks

Smart contract risk: The vault is a new Solidity contract on a new EVM environment (HyperEVM). It will be audited before deployment, but no smart contract is without risk. Deposit only what you can afford to lose in a worst-case smart contract scenario.

Utilization risk: If utilization falls to zero (no one borrowing), depositor yield approaches zero minus gas. This is unlikely given Autopilot's demand for the negative-funding trade path, but it is possible during periods of sustained positive funding when negative-funding DN trades are not profitable.

Oracle / liquidation risk: The vault's health factor depends on the value of collateral that Autopilot traders post. If collateral values deteriorate, Autopilot will reduce positions. In extreme scenarios, the vault may experience bad debt. Zirodelta's protocol reserves exist to cover this, but the risk is not zero.

What you need to deposit

• A wallet with HYPE, BTC, or ETH on Hyperliquid (spot balances)

• The HyperEVM network added to your wallet

• No Pro subscription required. Vault depositing is open to all users

See also: HyperEVM Architecture · Depositing