How the fare works
Fare is a launchpad on Elysium, the Arbitrum Orbit rollup by Kinetiq that settles to HyperEVM, runs next to HyperCore and uses HYPE as gas. Elysium's docs describe a token lifecycle that never leaves Hyperliquid: launch on Elysium, mirror to HyperEVM, graduate to a HyperCore spot order book. Fare builds that whole road and makes each coin pay for its own trip.
What Fare is
Most launchpads stop when a coin reaches a pool. On Fare a pool is the middle of the road. The end is a HyperCore spot ticker, and HyperCore sells those in an auction that costs hundreds of HYPE. So every Fare coin saves for its own ticker from its first trade: half a percent of every trade goes into the coin's fare vault. When the vault can pay, the coin takes the passage to HyperCore.
The route
- Curve. 800M of the 1B supply sells on a HYPE bonding curve on Elysium. Buys and sells settle in 100 to 200 ms blocks.
- Locked pool. When the curve sells out, 20% of the HYPE it raised moves into the fare vault. The rest, with enough of the 200M reserve to open at the curve's last price, becomes a constant product pool inside the Fare contract. It has no LP tokens and no withdraw function. The unused reserve is burned.
- The fare. On the curve and in the pool, 0.5% of the HYPE side of every trade saves into the vault.
- Passage. Once the coin is in its pool and the vault holds its ticker target, anyone can call
startPassage. The vault leaves Elysium 1:1 through ArbSys to the coin's passage agent on HyperEVM, and the coin's mirror-bridge wallet opens on Elysium in the same transaction. - HyperCore. The agent mirrors the coin to HyperEVM, buys the ticker, runs genesis, links the ticker to a deposit wallet and lists the coin against USDC. After the passage, the 0.5% fare share stays in the pool as extra HYPE depth.
Fees
1% of the HYPE side of every trade, on the curve and in the pool.
| Fare vault | 0.5% | Saves for the coin's HyperCore ticker. After the passage it deepens the pool. |
| Creator | 0.3% | Claimable any time on the coin page. |
| Fare | 0.2% | Platform. |
| Curve sell-out | 20% of the raise | Moves into the fare vault once. |
| Launch | · | Gas is paid in HYPE on Elysium. |
Curve numbers
Mainnet sizes. A virtual reserve of 100 HYPE against 1.1B virtual tokens sets the curve.
| First price | 0.0₇932 HYPE | |
| HYPE raised at sell-out | 293.04 HYPE | |
| Last curve price | 0.0₅144 HYPE | About 14.4x the first price. |
| To the fare vault | 58.6 HYPE | |
| Pool opens with | 234.43 HYPE + 162.8M tokens | |
| Reserve burned | 37.2M | |
| Ticker target | 520 HYPE | 500 HYPE auction floor plus 20 HYPE for bridging and mirror costs. |
| Volume that funds it | about 92K HYPE | After sell-out, at 0.5% per trade. |
The passage
Each step uses Elysium's documented bridge legs. The coin page reads every one from chain, not from the agent.
| 1. Leave Elysium | startPassage | ArbSys.withdrawEth sends the vault 1:1 to the agent on HyperEVM. ElysiumBridgeFactory.createL2Wallet opens the mirror escrow. |
| 2. Mirror | createAndRegisterL1Mirror | On HyperEVM, with the coin's exact live name, ticker and decimals. The 1:1 rule makes any other mirror inert. |
| 3. Arrive | Outbox | After the challenge period the withdrawal is executed on HyperEVM. |
| 4. Ticker | registerToken2 | HYPE moves to HyperCore and the agent bids in the HIP-1 spot ticker auction. |
| 5. Deposit wallet | createWallet | HyperCoreDepositFactory, keyed by (mirror, ticker index, agent). Kinetiq publishes it at mainnet. |
| 6. Genesis | userGenesis, genesis | Full Core supply parked at the system address 0x20 followed by the token index, no Hyperliquidity. |
| 7. Link | requestEvmContract, finalizeEvmContract | customStorageSlot proof. Holders can then move the mirror between HyperEVM and HyperCore. |
| 8. List | registerSpot, registerHyperliquidity | USDC quote, empty book (nOrders 0), start price from the Elysium pool. |
The passage agent
HyperCore deploy actions (the auction, genesis, link and listing) are signed by the address that won the ticker. A contract on Elysium cannot sign them, so every coin names a passage agent: one public address, fixed into the coin when it launches. Fare's owner can change the agent for future coins only. The agent receives the vault on HyperEVM and is the deployer of the coin's HyperCore token, so you are trusting it with the fare. Its balances on HyperEVM and HyperCore are on the Passages page, and the coin page checks each step on chain. Mirror and deposit-wallet creation are permissionless, so if the agent ever stalled, those parts could be completed by anyone. The ticker steps could not.
When Elysium's ElysiumCoreWriter and keeper lane ship (about four weeks after mainnet), contracts can drive HyperCore trading from Elysium, but deploy actions still need a deployer key.
HyperCore spec
| Ticker | 1 to 6 characters, A to Z, 0 to 9 | Checked on launch, and against HyperCore's live token list. |
| EVM decimals | 18 | |
| Core weiDecimals / szDecimals | 8 / 2 | szDecimals + 5 must not exceed weiDecimals. |
| evmExtraWeiDecimals | 10 | Deposits to Core move in multiples of 10^10 base units. |
| Core max supply | 1e17 Core wei | 1B tokens. Fits HyperCore's uint64 with room to spare. |
| Metadata | Immutable | The mirror is keyed on name, symbol and decimals, so they never change. |
| Transfers | Plain ERC-20 | No fee on transfer, no rebasing, as both bridge legs require. |
Contracts on Elysium testnet
| Fare | Published at launch |
| Passage agent | 0x301149463e036df2F3F5A5aFe5E4Cf942987a446 |
| ElysiumBridgeFactory | 0xb94A38a4aC46970559E89E566f2486a3Fc56BE5a |
| ElysiumMirrorFactory (HyperEVM) | 0xcaDb9986F3727177d48FA07294E1730f9D19290b |
| Outbox (HyperEVM) | 0x87391D602aaffB3Fe8051EcCDb75d6EEe8C31060 |
| HyperCoreDepositFactory (HyperEVM) | Published at launch |
| ArbSys | 0x0000000000000000000000000000000000000064 |
Risks
- Most coins never sell out their curve, and most that do never fund a ticker. Prices can fall to almost nothing.
- The passage agent holds the fare once it leaves Elysium and signs the HyperCore steps. See the agent section.
- HyperCore ticker prices move with each auction. If the price is above a coin's vault, the agent waits for a cheaper round.
- Elysium is pre-launch software with a single sequencer and optimistic withdrawals. Its bridge contracts are upgradeable by their owners.
- The Fare contracts are unaudited. Elysium's deposit-wallet factory is not published yet, so no coin can finish the link step until it is.
- Nothing here is a promise of profit.