HIP-3 lets anyone launch a perp exchange on Hyperliquid with their own oracle. Wall Street is arriving. Vigil is the independent layer that maps every builder market, grades its risk in the open, and tells you when a deployer changes the rules.
Every builder exchange sets its own oracle, its own leverage, its own caps — and holds keys that can change them. The only place to judge a deployer today is the deployer's own website.
of the builder exchanges registered on Hyperliquid currently have zero live markets. Their whole lineup was delisted.source: api.hyperliquid.xyz · perpDexs, live
of builder-market open interest sits with a single deployer. One oracle setup, one set of keys.source: api.hyperliquid.xyz · metaAndAssetCtxs, live
ICE, the owner of the NYSE, announced a partnership with and investment in TradeXYZ to bring HIP-3 perps to regulated US markets.source: The Block, Bloomberg · 2026-10-29
independent, open-formula risk ratings for HIP-3 deployers that we could find before building Vigil.source: Vigil ecosystem review · Oct 2026
Vigil reads Hyperliquid directly, without intermediaries. Each number on this site is fetched from the chain in your browser.
Every HIP-3 market across every deployer, in one view. Search, sort and compare markets that the main Hyperliquid UI doesn't show.
● Live todayAn A–E grade for each market, built from oracle drift, liquidity, leverage, depth, funding and the deployer's key surface. The formula is public, and anyone can check it.
● Live today · v0Instant alerts when a deployer changes an oracle, raises leverage, moves caps or halts a market. Also covers oracle-drift alarms and weekend RWA gaps.
○ Phase 2A Solana-wallet-first terminal. Trade oil, gold or NVDA on whichever deployer has the deepest book and the best grade.
○ Phase 3| Market | Venue | Mark | 24h | Open interest | Oracle drift | Max lev | Risk | Grade |
|---|---|---|---|---|---|---|---|---|
| Reading Hyperliquid… | ||||||||
Several deployers list the same underlying, each with its own oracle, depth and rules. Atlas puts them side by side, and Route will send each order to the best one.
There's no black box and no paid placement. Each component runs from 0 to 1 and is weighted below. The result is a risk number from 0 to 100, which maps to a grade. Methodology changes go through $VIGIL governance.
// assets/vigil.js — runs in your browser oracle = ramp(|mark − oracle| / oracle, 5 → 150 bps) liquidity = ramp(impact spread, 5 → 120 bps) leverage = ramp(max leverage, 3 → 50×) depth = 1 − ramp(log₁₀ OI, $30K → $100M) funding = ramp(|funding| APR, 15 → 200%) keys = ramp(distinct privileged keys, 2 → 12) risk = Σ weightᵢ · componentᵢ × 100 grade = A <20 · B <35 · C <50 · D <65 · E // key surface = deployer + oracle updater + every address // granted setOracle, haltTrading, setOpenInterestCaps, … // read straight from perpDexs.subDeployers
$VIGIL is the access and accountability token for the Vigil network, fair-launched on pump.fun on Solana, where most traders already keep their wallets. Its uses are specific: alerts, data access, fee discounts and governance over how risk gets graded.
Staking tiers unlock Tripwire alerts, API rate limits and early Route features.
Stakers pay a lower Vigil fee when they trade through Route.
Staked holders vote on methodology changes and Backstop claims.
40% of Route revenue buys $VIGIL and pays it to stakers, and 20% funds the Backstop Reserve. Both run on a published schedule.
$VIGIL launches on pump.fun. Every token starts on the public bonding curve, so the team buys at the same price as everyone else. There's no presale, no VC round and no reserved supply. Development is funded by product revenue.
Builder-code fees are collected in USDC on HyperCore.
Revenue is bridged to Solana on a schedule published onchain.
$VIGIL is bought on the open market, and part goes to the reserve.
You sign once with your EVM key and once with your Solana key, which links them.
Every Vigil product is connected to $VIGIL. Product usage creates demand for the token, product revenue buys it, and stakers govern the network. How much this matters depends on real usage, so we're building the product first.
No. Vigil is independent. It reads Hyperliquid's public API and doesn't accept payment for grades. Independence is the point of the product.
Yes. Every live figure on this page and in Atlas is fetched in your browser from api.hyperliquid.xyz each time the page loads. You can open devtools and watch the requests.
No. The Score is a transparent heuristic for comparing markets. It doesn't guarantee anything and isn't financial advice. v0 doesn't yet include oracle-source quality or historical incidents; those come in later versions through governance.
Most of the traders who will use Route already hold Solana wallets such as Phantom. Solana has very cheap staking transactions and deep DEX liquidity. Revenue is earned on Hyperliquid and bridged over. The whitepaper describes the full mechanism.
All of it goes through a fair launch on pump.fun. The full 1B supply starts on the bonding curve, with no presale, no private round and no team, treasury or investor allocation. Anything the team holds it buys on the curve like everyone else, from publicly disclosed wallets. Pump.fun revokes the mint and freeze authorities, so nobody can create more tokens.
Not yet. Before launch come a legal review, a name and trademark check, and a devnet rehearsal of the staking program. The official mint address will be published only on this site and on Vigil's official X account, @getvigilxyz. Until an official announcement is made through these channels, treat any token claiming to be $VIGIL as fake.